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Marketing Management
A South Asian Perspective, 13th ed
What is 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.
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.
There will always be a need for some selling. But the aim of marketing is to make selling superfluous. 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
What is Marketed?
Goods Services Events & Experiences Persons Places & Properties Organizations Information Ideas
Marketing a Place: The incredible India advertising campaign promoting India as a tourist destination
Business Markets
Company Orientations
Production
Product
Selling
Marketing
ORGANIZATION FUNCTIONS
TOP MANAGEMENT
Production
Finance
Marketing
HRM
Product
Promotions
Price
Personal Selling Place Public Relations
MARKETING Develop market strategies and plans Capture marketing insights Build strong brands Shape market offerings Deliver value Communicate value Create long-term growth SALES
Marketing Discussion
Consider the societal forces noted in the chapter (e.g., information technology, globalization, deregulation, consumer resistance, retail transformation). How have marketing practices shifted to accommodate and even leverage these forces?