Marketing Mangement 21st Century
Introduction to
Marketing Management :
Defining Marketing for
the 21st Century
Tutored by : Prof. Sunil D’ Anto
Session Agenda
• • • • • • • • Importance of marketing Marketing Defined The scope of marketing Tasks of a successful marketing practice Fundamental Marketing Concepts & Tools of Marketing Marketplace Orientations How has marketing management changed? Marketing’s Responses to New Challenges
Importance of marketing
(why are we learning it?)
• • • • Press notes communicating marketing triumphs Profound articles on marketing strategies & tactics The creation of CMOs Marketing is required to build strong brands & a loyal customer base which contribute majorly to the firm’s value • Marketing assists the firm : – in deciding on the right product, price, promotion, communication & delivery (place) – to redo business models, in the world of empowered customers & highly competitive market place.
The case of : the brands Xerox & Nirma
What is Marketing ?
• too often confused and identified with selling, advertising or promotions only! • Real marketing practices and theories are all too often invisible to the average consumer & common man.
Therefore, let us understand & define marketing…
Defining 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. - the AMA
Good Marketing is No Accident
Case of Tata Ace: The roaring success of fourwheeler Tata Ace, in a market earlier dominated by three-wheeler load carriers, was due to a deep understanding of the market needs and customer requirements.
What is Marketed? (the market offering / the product)
Goods Services Events & Experiences Persons
Places & Properties
Organizations Information Ideas
Successful New Product launches require careful Planning
Re-defining Market
• Traditionally,
Marketing Management :
Defining Marketing for
the 21st Century
Tutored by : Prof. Sunil D’ Anto
Session Agenda
• • • • • • • • Importance of marketing Marketing Defined The scope of marketing Tasks of a successful marketing practice Fundamental Marketing Concepts & Tools of Marketing Marketplace Orientations How has marketing management changed? Marketing’s Responses to New Challenges
Importance of marketing
(why are we learning it?)
• • • • Press notes communicating marketing triumphs Profound articles on marketing strategies & tactics The creation of CMOs Marketing is required to build strong brands & a loyal customer base which contribute majorly to the firm’s value • Marketing assists the firm : – in deciding on the right product, price, promotion, communication & delivery (place) – to redo business models, in the world of empowered customers & highly competitive market place.
The case of : the brands Xerox & Nirma
What is Marketing ?
• too often confused and identified with selling, advertising or promotions only! • Real marketing practices and theories are all too often invisible to the average consumer & common man.
Therefore, let us understand & define marketing…
Defining 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. - the AMA
Good Marketing is No Accident
Case of Tata Ace: The roaring success of fourwheeler Tata Ace, in a market earlier dominated by three-wheeler load carriers, was due to a deep understanding of the market needs and customer requirements.
What is Marketed? (the market offering / the product)
Goods Services Events & Experiences Persons
Places & Properties
Organizations Information Ideas
Successful New Product launches require careful Planning
Re-defining Market
• Traditionally,