Milton M. Pressley
Creative Assistance by D. Carter and S. Koger
Chapter 1 Defining Marketing for the st Century 21
PowerPoint by Milton M. Pressley University of New Orleans
Kotler on Marketing
The future is not ahead of us. It has already happened. Unfortunately, it is unequally distributed among companies, industries and nations.
In this chapter we will address the following questions:
What is the new economy like? What are the tasks of marketing? What are the major concepts and tools of marketing? What orientations do companies exhibit in the marketplace? How are companies and marketers responding to the new challenges? 1-4 www.bookfiesta4u.com
The New Economy
Substantial increase in buying power A greater variety of goods and services A greater amount of information about practically anything A greater ease in interacting and placing and receiving orders An ability to compare notes on products and services 1-5 www.bookfiesta4u.com
The New Economy
Websites can provide companies with powerful new information and sales channels. Companies can collect fuller and richer information about markets, customers, prospects and competitors. Companies can facilitate and speed up communications among employees. Companies can have 2-way 2communication with customers and prospects 1-6 www.bookfiesta4u.com
The New Economy
Companies can send ads, coupons, samples, information to targeted customers. Companies can customize offerings and services to individual customers. The Internet can be used as a communication channel for purchasing, training, and recruiting. Companies can improve logistics and operations for cost savings while improving accuracy and service quality. 1-7 www.bookfiesta4u.com
The three major challenges faced by businesses today are globalization, advances in technology, and deregulation. Which of these affords the greatest opportunity for established businesses? Which affords the greatest opportunities for new businesses? Why? 1-8 www.bookfiesta4u.com
Ten rules of radical marketing
The CEO must own the marketing function. Make sure the marketing department starts small and flat and stays small and flat. Get face to face with the people who matter most – the customers. Use market research cautiously. Hire only passionate missionaries.
Love and respect your customers. Create a community of consumers. Rethink the marketing mix. Celebrate common sense. Be true to the brand.
Three stages of marketing practice
Entrepreneurial Marketing Formulated Marketing Intrepreneurial Marketing 1-10 www.bookfiesta4u.com
The Scope of Marketing
Marketing: typically seen as the task of creating, promoting, and delivering goods and services to consumers and businesses.
Table 1.1 Demand States and Marketing Tasks
1. Negative demand
A major part of the market dislikes the product and may even pay a price to avoid it—vaccinations, dental work, it— vasectomies, and gallbladder operations, for instance. Employers have a negative demand for ex-convicts and exalcoholics as employees. The marketing task is to analyze why the market dislikes the product and whether a marketing program consisting of product redesign, lower prices, and more positive promotion can change beliefs and attitudes. Target consumers may be unaware of or uninterested in the product. Farmers may not be interested in a new farming method, and college students may not be interested in foreign-language foreigncourses. The marketing task is to find ways to connect the benefits of the product with people’s natural needs and interests.
2. No demand
See text for complete table
Can you name a category of products for which your negative feelings have softened? What...