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Marketing Mangement 21st Century

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Marketing Mangement 21st Century
Introduction to

Marketing Management :
Defining Marketing for

the 21st Century
Tutored by : Prof. Sunil D’ Anto

Session Agenda
• • • • • • • • Importance of marketing Marketing Defined The scope of marketing Tasks of a successful marketing practice Fundamental Marketing Concepts & Tools of Marketing Marketplace Orientations How has marketing management changed? Marketing’s Responses to New Challenges

Importance of marketing
(why are we learning it?)
• • • • Press notes communicating marketing triumphs Profound articles on marketing strategies & tactics The creation of CMOs Marketing is required to build strong brands & a loyal customer base which contribute majorly to the firm’s value • Marketing assists the firm : – in deciding on the right product, price, promotion, communication & delivery (place) – to redo business models, in the world of empowered customers & highly competitive market place.

The case of : the brands Xerox & Nirma

What is Marketing ?
• too often confused and identified with selling, advertising or promotions only! • Real marketing practices and theories are all too often invisible to the average consumer & common man.

Therefore, let us understand & define marketing…

Defining Marketing
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. - the AMA

Good Marketing is No Accident
Case of Tata Ace: The roaring success of fourwheeler Tata Ace, in a market earlier dominated by three-wheeler load carriers, was due to a deep understanding of the market needs and customer requirements.

What is Marketed? (the market offering / the product)
Goods Services Events & Experiences Persons

Places & Properties
Organizations Information Ideas

Successful New Product launches require careful Planning

Re-defining Market
• Traditionally,

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