Khoanhd chapter01 introduction to marketing

Defining Marketing for the New Realities ON THE BALCONY Lectured by Khoa Nguyen Definition of Marketing Marketing Process Topic Outline • Understand the Marketplace and Customer Needs • Designing a Customer-Driven Marketing Strategy • Preparing an Integrated Marketing Plan and Program • Building Customer Relationships • Capturing Value from Customers The changing Marketing Landscape I Definition of Marketing Marketing is • The process of planning and executing the conception, pricing, promotion and distribution of ideas, goods and services to create exchange and satisfy individual and organizational objectives (AMA, 1985) • The management process responsible for identifying, anticipating, and satisfying customer requirements profitably (CIM, 2001) • The process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return (Kotler & Amstrong, 2013) Questions: • Examples of which and how organizations create value for customers and build strong customer relationships • Whether has the marketing definition been changed in the era of 4.0? Critical thinking questions Is it possible to say marketing is an effort that make the selling unnecessary? Critical thinking questions Do non-profit organizations perform marketing? II Marketing Process A real-life marketing process Customer Satisfaction Performance SATISFACTION Expected level DISSATISFACTION Partner relationship management Capturing Value from Customers The changing marketing landscape Digital age Globalization Most revenues are outside the home country Ethics demands Not-for-Profit Marketing New marketing challenges A new paradigm • Changes in consumer behaviors • Changes in media • Changes in competition New marketing challenges New marketing challenges New marketing challenges Something a bit academic So, What Is Marketing? Pulling It All Together