Marketing Management 12 e PHILIP KOTLER & KEVIN LANE KELLER ISBN 0-13-145757-8 658.8—dc22 Note: all credits for contents goes to the original author. Summarized by Wawan Setiawan (winanci@gmail.com)Summarized by winanci@gmail.com 2 Redefining Marketing for 21 st Century ● Marketing is everywhere‚ but tricky ● It makes Marketing management difficult because it needs continuous improvementSummarized by winanci@gmail.com 3 The scope of marketing: What is marketing? (1) ● Marketing:
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obtain what they need or want through creating‚ offering‚ exchanging products of value with each other. 1. NEED/ WANT/ DEMAND: Need: It is state of deprivation of some basic satisfaction. Eg. - Food‚ clothing‚ safety‚ shelter. Want: Desire for specific satisfier of need. Eg. - Indians needs food – wants paneer tikka/ tandoori chicken. Americans needs food- wants hamburger/ French fries. Demand: Want for a specific product backed up by ability and willingness to buy. Eg. - Need – transportation
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are the three levels at which a product can be seen? In response‚ use a concrete example of product. The product is defined as a "thing produced by labor or effort or the "result of an act or a process"and stems from the verb produce from the Latin ’produce ’ which means to lead or bring forth ’. The first economic use of the word was by Adam Smith‚ known as the father of modern economics. -Kotler et al (1989) For marketers‚ it is useful to divide the product into three main
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Marketing mix - Product Agenda ✦ Product ✦ Service ✦ Product life cycle ✦ Experience Aim: transform strategic decisions already take into a sustainable and attracted commercial offer. From a managerial point the key question is: how can we transform our decision‚ our value proposition into something that can be bought by the market? We have to consider that there are several models that have been suggested over time to depict from a managerial view point what marketing mix meansthey clarify the
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Three Levels of Product Benefit The first level‚ core product‚ tells about the core benefit ofthe products LIVRO offers. The main products are books and it can benefit in such a way to consumers when they purchase these books through LIVRO’s online platform. The LIVRO website shall give consumers a chance to browse through its selections with any disruptions from external factors like traffic‚ sudden events‚ and the likes. The second level‚ total product‚ is aimed to persuade consumers to buy books
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Running head: PRODUCT & PRODUCT MARKETING Rochelle Russell Unit 2 Individual Product Products & Product Marketing MGMT422-1103A-09 Triangle Solutions Product There are several people that love to take pictures of their families or special events and put them in scrapbooks. The new product that I am proposing is a photo paper that already has a background scene on it and individuals can still print their picture on top of it to make it look even more special. Mostly everyone
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participants’ judgement of the situation. Second‚ there would be a question at the end‚ to elicit responses from the participants (e.g. ’What would he say?’ or ’How does he say?’). There would be 50 questions in total. 25 of them would be target questions (five from each Van Compernolle’ degree) and the other 25 would be distracting passages‚ in order to prevent the participants from recognizing the purpose of this study. Distractors would be equal length and number of sentences which are irrelevant to the
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Chapter 8: Identifying Market Segments and Targets GENERAL CONCEPT QUESTIONS Multiple Choice 1. In ________ marketing‚ the seller engages in the mass production‚ mass distribution‚ and mass promotion of one product for all buyers. a. group b. mass c. general d. segmented e. differentiated Answer: b Page: 226 Difficulty: Medium AACSB: Analytic Skills 2. The argument for ________ marketing is that it creates the largest potential market‚ which leads
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1. The first step of successful price setting is selecting the pricing objective. There are five major objectives in pricing strategies: survival‚ maximum current profit‚ maximum market share‚ maximum market skimming and product-quality leadership. Out of these possible objectives‚ Sonic should focus on the survival objective. Sonic should pursue survival objective because its current market is highly preoccupied and filled with intense competition where consumer demands shift every day. Sonic is
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Ford company produced only one kind of product‚ which is T-Model in Black‚ to entire market in the early of 20 century is: a. Multi-segment marketing b. Mass marketing c. Niche marketing d. Custom marketing 5. Advertising is: a. A paid form of non-personal communication b. A paid form of personal selling c. An unpaid form of personal communication d. An unpaid form of non-personal communication. 6. P&G provide several brands in the same product category is a. Multibrands b. New brans
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