Bài giảng Marketing Management: Chương 1

CHAPTER 1 DEFINING MARKETING FOR THE 21ST CENTURY

Nguyen Tien Dung, MBA Email: dung.nguyentien3@hust.edu.vn

1. The Importance of Marketing 2. The Scope of Marketing 3. Core Marketing Concepts 4. The New Marketing Realities 5. Company Orientation toward the

Main Contents

6. The New Four Ps 7. Marketing Management Tasks

Marketplace

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● Financial success depends on

marketing ability

● Chief Marketing Officer (CMO) ● Marketing for business

organisations

● Marketing for non-profit

organisations

● Marketing for individuals ● Discussion:

● Marketing is as important as other

departments

● Marketing is more important than

other departments

1. The Importance of Marketing

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● What Is Marketing? ● What Is Marketed? ● Who Markets?

2. The Scope of Marketing

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● Managerial definition of marketing:

● 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

● Social definition of marketing:

● A societal process by which individuals and

groups obtain what they need and want through creating, offering, and freely exchanging products and services of value with others

What is marketing?

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● The art and science of choosing target

What is marketing management?

markets and getting, keeping and growing customers through creating, delivering, and communicating superior customer value.

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● Physical products ● Services ● Events ● Experiences ● Persons ● Places ● Properties ● Organizations ● Information ● Ideas

What is marketed?

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● The Rolling Stones have done a masterful job of marketing their

rebellious form of rock and roll to audiences of all ages.

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● For a city like Las Vegas that thrives on tourism, good marketing is essential.

Places Marketing

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● Who markets?

● Marketer ● Prospect

● States of demand:

● Negative demand: dislike ● Nonexistent demand: unaware ● Latent demand: unsatisfied ● Declining demand: falling ● Irregular demand: seasonal or uneven ● Full demand ● Overfull demand ● Unwholesome demand: negative social consequences

Who markets?

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● One of the most important areas of marketing is the work that social marketers do to promote socially desirable behaviors.

Idea Marketing

11 Structure of Flows in a Modern Exchange Economy

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A Simple Marketing System

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● Needs, Wants, and Demands ● Market segmentation, target Markets,

3. Core Marketing Concepts

Positioning

● Market places, market spaces, metamarkets ● Offerings and Brands ● Value and Satisfaction ● Marketing Channels ● Supply Chain ● Competition ● Marketing Environment

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● Stated needs ● Real needs ● Unstated needs ● Delight needs ● Secret needs

Five Types of Needs

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● Major Societal Forces ● New Company Capabilities ● Marketing in Practice

4. The New Marketing Realities

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● Network information technology. ● Globalization ● Deregulation ● Privatization ● Heightened competition ● Industry convergence ● Retail transformation ● Disintermediation ● Consumer buying power ● Consumer information ● Consumer participation ● Consumer resistance

Major Societal Forces

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New Consumer Capabilities

New Marketing Forces

New Company Capabilities

New Marketing Management Practice

Marketing in Practice*

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● A well-publicized survey revealed that the average CMO tenure at U.S. companies is about 28 months, well below the average tenure of CEOs (54 months) or other C-level positions.

● Reasons:

● Management expectations vary ● Combined skills:

● Quantitative skills & well-honed qualitative skills ● Have an independent, entrepreneurial attitude & Be able to work in close

harmony with other departments such as sales

● Capture the consumers’ viewpoint & Have a keen bottom-line understanding of

how marketing creates value within their organization.

● One survey asked 200 senior-level marketing executives which

innate and learned qualities were most important ● Innated qualities ● Learned qualities

CMO: A challenging job*

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● Innate Qualities

● Learned Qualities ● Global experience ● Multichannel

● Risk taker ● Willingness to make

expertise

decisions

● Cross-industry

● Problem-solving

ability

● Change agent ● Results-oriented

experience ● Digital focus ● Operational knowledge

CMO*

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● Strengthening the brands ● Measuring marketing effectiveness ● Driving new product development based on

*Functions of CMOs

● Gathering meaningful customer insights ● Utilizing new marketing technology

customer needs

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● Make the mission and responsibilities clear ● Fit the role to the marketing culture and structure ● Ensure the CMO is compatible with the CEO ● Remember that show people don’t succeed ● Match the personality with the CMO type ● Make line managers marketing heroes ● Infiltrate the line organization ● Require right-brain and left-brain skills

*Improving CMO Success

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● The Production Concept ● The Product Concept ● The Selling Concept ● The Marketing Concept ● The Holistic Marketing Concept

5. Company Orientation toward the Marketplace

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● Customers will buy inexpensive and widely

Production Concept

● Focus: cost cutting, cheap models and wide

available products.

distribution networks

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● Customers will

Product Concept

prefer the products with superior performance. ● Focus: product performance, higher quality, special features

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● Customers will not buy your products if you do not have great selling and promotion efforts.

● Focus: selling skills, promotion programs

Selling Concept

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● Four pillars for business success:

● Choose right customers ● Understand right needs, wants and demands ● Satisfy these demands ● Efficiency: satisfy target customers more

efficiently than competitors do

Marketing Concept

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Holistic Marketing Dimensions*

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Corporate Social Responsibility (CSR)

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6. The New Four Ps

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Four Cs ● Customer solution ● Customer cost ● Convenience ● Communication

Four Ps ● Product ● Price ● Place ● Promotion

Marketing Mix and the Customer

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● Developing marketing strategies and plans ● Capturing marketing insights ● Connecting with customers ● Building strong brands ● Shaping market offerings ● Delivering value ● Communicating value ● Creating long-term growth

7. Tasks in Marketing Management