Professional Documents
Culture Documents
PowerPoint by
Milton M. Pressley
Creative Assistance by D. Carter and S. Koger
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Kotler on Marketing
The future is not ahead of us. It has already happened. Unfortunately, it is unequally distributed among companies, industries and nations.
Chapter Objectives
In this chapter we will address the following questions:
What is the new economy like? What are the tasks of marketing? What are the major concepts and tools of marketing? What orientations do companies exhibit in the marketplace? How are companies and marketers responding to the new challenges?
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The three major challenges faced by businesses today are globalization, advances in technology, and deregulation. Which of these affords the greatest opportunity for established businesses? Which affords the greatest opportunities for new businesses? Why?
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Marketing Task
Ten rules of radical marketing
The CEO must own the marketing function. Make sure the marketing department starts small and flat and stays small and flat. Get face to face with the people who matter most the customers. Use market research cautiously. Hire only passionate missionaries.
Marketing Task
Love and respect your customers. Create a community of consumers. Rethink the marketing mix. Celebrate common sense. Be true to the brand.
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1. Negative demand
A major part of the market dislikes the product and may even pay a price to avoid itvaccinations, dental work, it vasectomies, and gallbladder operations, for instance. Employers have a negative demand for ex-convicts and exalcoholics as employees. The marketing task is to analyze why the market dislikes the product and whether a marketing program consisting of product redesign, lower prices, and more positive promotion can change beliefs and attitudes. Target consumers may be unaware of or uninterested in the product. Farmers may not be interested in a new farming method, and college students may not be interested in foreign-language foreigncourses. The marketing task is to find ways to connect the benefits of the product with peoples natural needs and interests.
2. No demand
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Marketing environment
Task environment Broad environment
Marketing Program
Marketing program Marketing mix
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Can you identify the trends that have made the marketing concept, the customer concept, and the societal marketing concept more attractive models for contemporary marketing managers?
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Kotler on Marketing
The Internet will create new winners and bury the laggards.
Chapter Objectives
In this chapter, we will address the following questions:
What are the major forces driving the New Economy? How are business and marketing practices changing as a result of the New Economy? How are marketers using the Internet, customer databases, and customer relationship management in the New Economy?
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Procter & Gambles Reflect.com site allows customers to design their own beauty products
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New Economy
Organize by customer segments Focus on customer lifetime value Look also at marketing scorecard Focus on stakeholders Everyone does the marketing Build brands through behavior Focus on customer retention and growth Measure customer satisfaction and retention rate Underpromise, overdeliver
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Customers can shop online at Calyx and Corolla or ask for a catalog and shop by phone
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www.transora.com: global online marketplace for the consumer packaged goods industry Figure 2-1: The SupplierCustomer Relationship: Traditional and New Economy Structures
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CarPoint, leading metamediary for car buying, is a pure click company: It exists only on the Web.
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Which is more important for developing an e-presence: the agility eof a pure click company, or the well defined and readily identifiable resources of a traditional brick and mortar company?
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Would you be willing to give up one or more of the seven elements of an effective web site in order to speed the deployment of a new company e-commerce site? eWhat would the expected trade-offs be tradebetween an effective site and an early web presence?
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