Marketing Management
1
Learning issues for Chapter
One:
Why is marketing important?
What is the scope of marketing?
What are some fundamental marketing concepts? How has marketing management changed?
What are the tasks necessary for successful marketing management?
2
What is Marketing?
The American Marketing Association:
“Marketing is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders”.
Essentially:
Marketing deals with identifying and meeting human and social needs. It is essentially about “meeting needs profitably.”
3
What is Marketing Management?
Marketing management is the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value.
1- 4
What is Marketed?
Goods
Services
Events & Experiences
Persons
Places & Properties
Organizations
Information
Ideas
5
Ten entities of marketing:
Marketing people are involved in marketing ten types of entities: goods, services, events, experiences, persons, places, properties, organizations, information, and ideas.
A) Goods
Physical goods constitute the bulk of production and marketing efforts.
B) Services
A growing portion of business activities are focused on the production of services. The
U.S. economy today consists of a 70–30 services to goods mix.
C) Events
Marketers promote time-based events such as trade shows, artistic performances, and the Olympics.
D) Experiences
By orchestrating several services and goods, a firm can create and market experiences such as Walt Disney World’s Magic Kingdom.
E) Persons
Celebrity marketing is a major business.
6
Ten entities (cont’d)
D) Places
Cities, states, regions, and whole nations compete actively to attract tourists, factories,
and
Learning issues for Chapter
One:
Why is marketing important?
What is the scope of marketing?
What are some fundamental marketing concepts? How has marketing management changed?
What are the tasks necessary for successful marketing management?
2
What is Marketing?
The American Marketing Association:
“Marketing is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders”.
Essentially:
Marketing deals with identifying and meeting human and social needs. It is essentially about “meeting needs profitably.”
3
What is Marketing Management?
Marketing management is the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value.
1- 4
What is Marketed?
Goods
Services
Events & Experiences
Persons
Places & Properties
Organizations
Information
Ideas
5
Ten entities of marketing:
Marketing people are involved in marketing ten types of entities: goods, services, events, experiences, persons, places, properties, organizations, information, and ideas.
A) Goods
Physical goods constitute the bulk of production and marketing efforts.
B) Services
A growing portion of business activities are focused on the production of services. The
U.S. economy today consists of a 70–30 services to goods mix.
C) Events
Marketers promote time-based events such as trade shows, artistic performances, and the Olympics.
D) Experiences
By orchestrating several services and goods, a firm can create and market experiences such as Walt Disney World’s Magic Kingdom.
E) Persons
Celebrity marketing is a major business.
6
Ten entities (cont’d)
D) Places
Cities, states, regions, and whole nations compete actively to attract tourists, factories,
and