Marketing Management

• Course Details

• Course Duration

• Grades Distribution

• References & Material

Our References

Cours Syllabus Covering Chapters:

Pre to Midterms: 01, 04, 09, 10, also 12
For Final Exam: 13, 15, 16, 17, and 19 + Chapter 12
 Chapter
01
Defining
Marketing
for the
New Realities
Cours Syllabus Covering Chapters:
Pre to Midterms: 01, 04, 09, 10, also 12
For Final Exam: 13, 15, 16, 17, and 19

Learning Objectives
1. Why is marketing important?
2. What is the scope of marketing?
3. What are some core marketing concepts?
4. What forces are defining the new marketing realities?
5. What new capabilities have these forces given
consumers and companies?
6. What does a holistic marketing philosophy include?
7. What tasks are necessary for successful marketing
management?
 THE VALUE OF MARKETING
• Financial success often depends on marketing
ability
• Successful marketing builds demand for products
and services.
• Marketing builds strong brands and a loyal
customer base, intangible assets that contribute
heavily to the value of a firm.

THE SCOPE OF MARKETING

• So what is marketing?
– Is marketing more about planning?

– Is marketing advertising?

– Is marketing selling?

– Is marketing ….?
 “The aim of MARKETING is TO MAKE SELLING NONESSENTIAL”.
The aim of marketing is to KNOW and UNDERSTAND the
customer so well that the product or service FITS him and
SELLS ITSELF. Ideally, marketing should result in a customer
who is ready to buy. All that should be needed is to make
the product or service AVAILABLE.”

Peter Drucker…
1909-2005

DRUCKER: An Austrian-American management consultant, educator, and author, whose writings contributed to the philosophical and
practical foundations of the modern business corporation. He has been described as "THE FOUNDER OF MODERN MANAGEMENT”.

WHAT MARKETING IS…

REVIEWED-2013/APPROVED-2017

4x4
 WHAT MARKETING IS…

The AMA’s definitions of marketing is

reviewed and reapproved/modified
every three years by a panel of five
scholars who are active researchers.

https://marketing-dictionary.org

THE SCOPE OF MARKETING

• Marketing is about identifying
and meeting human and social
needs for profits
CORE MARKETING CONCEPTS
• Needs: Basic human requirements.
a state of FELT DEPRIVATION.

• Wants: Specific OBJECTS that might

SATISFY NEED.

• Demands: WANTS for specific OBJECTS

backed by an ABILITY TO PAY.

5 TYPES OF NEEDS

STATED What the customer asks for

REAL What stated needs really mean

UNSTATED What is expected but not ask for

DELIGHT Not essential but of value if met

SECRET What Customer don’t express

Demand Types Definition

consumer’s dislike a product and may pay to avoid, such as

Negative
with dental work

consumers are unaware of or uninterested in the product or

Nonexistent
service

There is no product on the market that can satisfy consumer

Latent
needs

Consumers purchase a product less and less frequently, or

Declining not at all. For example, the sale of albums (vinyl and CD’s)
are declining significantly

A products demand varies by time, such as on a seasonal

Irregular
basis.

Consumers are attracted to products that have undesirable

Unwholesome
social consequences, such as cigarettes.

Consumers are buying all the products that enter into the
Full
market.

Overfull There are more buyers than product available.

STRUCTURE OF FLOWS
IN A MODERN EXCHANGE ECONOMY

14
CORE MARKETING CONCEPTS

• Marketing
environment

– Broad Environment

– Task Environment

15 Copyright © 2016 Pearson Education Ltd. 1-21

THE NEW MARKETING REALITIES

• Technology
• Globalization
• Social Responsibility
HOLISTIC MARKETING DIMENSIONS

17

MARKETING MIX COMPONENTS (4 Ps)

 4Ps VERSUS 4Cs
View of the Company View of the Customer

Product Customer Solution

Price Cost

Place Convenience

Promotion Communication

MARKETING MANAGEMENT

PEOPLE

PROCESSES

PROGRAMS

PERFORMANCE
 MARKETING
MANAGEMENT TASKS
• Developing market strategies and plans

• Capturing marketing insights

• Connecting with customers

• Building strong brands

MARKETING
MANAGEMENT TASKS
• Creating value

• Delivering value

• Communicating value

• Creating successful long-term growth

THE MARKETING PROCESS

THE MARKETING PROCESS