Phillip Kevin Lane

Kotler • Keller
Marketing Management
Defining Marketing for the 21st Century
Discussion Questions
1. Why is marketing important?
2. What is the scope of marketing?
3. What are some fundamental
marketing concepts?
4. How has marketing management
changed in recent years?
5. What are the task necessary for
successful marketing management?
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 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.

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– 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.
– What customers will we serve?
– How can we best serve these customers?

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 What is Marketed?
Persons • Experiences
• Events
• Properties
• Organizations
• Information
• Ideas

Goods
Places
Services
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 • Goods: Physical goods
• Services: Intangible
• Events: Shows such as new year celebration,
or a sporting event.
• Experiences: Such as organized holiday tour
package
• Places: Like cities, state, nations, for purposes
such as attracting tourists

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• Properties: like real estate

• Organizations: companies, universities, and

charitable organizations.

• Information: Magazines

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 Types of Demand

Unwholesome Declining

• Nonexistent
• Latent
Irregular • Full
Negative • Overfull
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 DEMAND STATES
Eight Demand states are possible

• Irregular
• Negative
• Unwholesome
• Nonexistent
• Full
• Latent
• Overfull
• Declining

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• Negative demand Consumers dislike the product and
may even pay a price to avoid it.
• Nonexistent demand Consumers may be unaware of or
uninterested in the product.
• Latent demand Consumers may share a strong need
that cannot be satisfied by an existing product.
• Declining demand Consumers begin to buy the
product less frequently or not at all.

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• Irregular demand Consumer purchases vary on a
seasonal, monthly, weekly, daily, or even hourly basis.
• Full demand Consumers are adequately buying all
products put into the marketplace.
• Overfull demand More consumers would like to buy the
product than can be satisfied.
• Unwholesome demand Consumers may be attracted to
products that have undesirable social consequences.

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 Key Customer Markets
Global Markets

Consumer Market

Business Markets Government Market

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• Consumer markets Companies selling mass consumer
goods and services such as soft drinks, cosmetics, air
travel, and athletic shoes and equipment spend a great
deal of time trying to establish a superior brand image

• Business markets Business buyers buy goods in order to

make or resell a product to others at a profit.

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 • Global markets Companies selling goods and
services in the global marketplace face
additional decisions and challenges

• Nonprofit/Government markets
Companies selling their goods to nonprofit
organizations such as churches, universities,
charitable organizations

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 Marketing Concepts

Quality Create, deliver, and

Innovation communicate value

Production Product Selling Marketing Holistic

Mass production
Unsought goods
Mass distribution
Overcapacity

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 • Production concept is the idea that consumers will
favor products that are available or highly affordable

• Product concept is the idea that consumers will favor

products that offer the most quality, performance,
and features. Organization should therefore devote
its energy to making continuous product
improvements.

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 • Selling concept is the idea that consumers will not
buy enough of the firm’s products unless it
undertakes a large scale selling and promotion effort
• Marketing concept is the idea that achieving
organizational goals depends on knowing the needs
and wants of the target markets and delivering the
desired satisfactions better than competitors do

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 Holistic Marketing Dimensions

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Internal Marketing
Internal Marketing is based on the theme that employee order
to achieve the goal of customer satisfaction.es are the internal
customers of a firm and their satisfaction is of utmost importance
in order to achieve the goal of customer satisfaction.

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Integrated Marketing

Integrated marketing program is a

comprehensive plan that communicates
and delivers the intended value to chosen
customers.

Create, communicate, and

deliver customer value

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 Relationship Marketing
Relationship Marketing is concerned with building long-lasting
relationships with various parties connected to a business including the
customers, employees, suppliers etc.

Build long-term
relationships

Develop marketing networks

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 Performance Marketing
Societal marketing concept is the idea that a company
should make good marketing decisions by considering
consumers’ wants, the company’s requirements,
consumers’ long-term interests, and society’s long-run
interests

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Marketing Mix and the Customer

Four Ps Four Cs
• Product • Customer solution
• Price • Customer cost
• Place • Convenience
• Promotion • Communication

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 The Four P’s of the Marketing Mix

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Core Concepts

• Needs, wants, and • Marketing channels

demands • Supply chain
• Target markets, • Competition
positioning, • Marketing
segmentation environment
• Offerings and brands • Marketing planning
• Value and
satisfaction

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Marketing Management Tasks

• Developing marketing • Shaping market

strategies offerings
• Capturing marketing • Delivering value
insights • Communicating
• Connecting with value
customers • Creating long-term
• Building strong growth
brands

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Marketing Management Tasks

• Developing market strategies and plans

• Capturing marketing insights
• Connecting with customers
• Building strong brands
• Shaping market offerings
• Delivering value
• Communicating value
• Creating long-term growth

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