Understanding Marketing Management

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PART 1 Understanding Marketing Management
Chapter 1 | Defining Marketing for the 21st Century Chapter 2 | Developing Marketing Strategies and Plans

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In This Chapter, We Will Address the Following Questions
1. Why is marketing important? 2. What is the scope of marketing? 3. What are some core marketing concepts? 4. How has marketing management changed in recent years? 5. What are the tasks necessary for successful marketing management?

One of the key factors in Barack Obama’s victory in the 2008 U.S. presidential election was a well-designed and well-executed marketing program.

Defining Marketing for the 21st Century
Formally or informally, people and organizations engage in a vast number of activities we could call marketing. Good marketing has become increasingly vital for success. But what constitutes good marketing is constantly evolving and changing. The election of Barack Obama as the 44th President of the United States was attributed, in part, to the adoption of new marketing practices.

The “Obama for America” presidential campaign combined a charismatic politician, a powerful message of hope, and a thoroughly integrated modern marketing program. The marketing plan needed to accomplish two very different goals: expand the electorate via broader messages while targeting very specific audiences. Multimedia tactics combined offline and online media, as well as free and paid media. When research showed that the more voters learned about Obama, the more they identified with him, the campaign added long-form videos to traditional print, broadcast, and outdoor ads. The Obama team—aided by its agency GMMB—also put the Internet at the heart of the campaign, letting it serve as the “central nervous system” for PR, advertising, advance work, fund-raising, and organizing in all 50 states. Their guiding philosophy was to “build online tools to help people selforganize and then get out of their way.” Technology was a means to Good marketing is no accident, but a result of careful “empower people to do what they were interested in doing in the first planning and execution using state-of-the-art tools and place.” Although social media like Facebook, Meetup, YouTube, and techniques. It becomes both an art and a science as marketers Twitter were crucial, perhaps Obama’s most powerful digital tool was a strive to find creative new solutions to often-complex massive 13.5 million–name e-mail list. What were the results of these challenges amid profound changes in the 21st century online efforts? About $500 million (most in sums of less than $100) marketing environment. In this book, we describe how top was raised online from 3 million donors; 35,000 groups organized marketers balance discipline and imagination to address these through the Web site, My.BarackObama.com; 1,800 videos posted to new marketing realities. In the first chapter, we lay the YouTube; the creation of Facebook’s most popular page; and, of foundation by reviewing important marketing concepts, tools, frameworks, and issues. course, the election of the next President of the United States.1

The Importance of Marketing
The first decade of the 21st century challenged firms to prosper financially and even survive in the face of an unforgiving economic environment. Marketing is playing a key role in addressing those challenges. Finance, operations, accounting, and other business functions won’t really matter without sufficient demand for products and services so the firm can make a profit. In other words, there must be a top line for there to be a bottom line. Thus financial success often depends on marketing ability.

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PART 1

UNDERSTANDING MARKETING MANAGEMENT

Marketing’s broader importance extends to society as a whole. Marketing has helped introduce and gain acceptance of new products that have eased or enriched people’s lives. It can inspire enhancements in existing products as marketers innovate to improve their...
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