Marketing Management
16th Edition
by Philip R Kotler
Complete Chapter Solutions Manual
are included (Ch 1 to 21)
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,CHAPTER
LEARNING OBJECTIVES
1 DEFINING MARKETING
FOR THE NEW REALITIES
After studying this chapter, you should be able to:
1.1 Define the scope of marketing.
1.2 Describe the new marketing realities.
1.3 Explain the role of marketing in the organization.
1.4 Illustrate how to organize and manage a modern marketing department.
1.5 Explain how to build a customer-centric organization.
CHAPTER SUMMARY
1. 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. Marketing
management is the art and science of choosing target markets and getting,
keeping, and growing customers through creating, delivering, and communicating
superior customer value.
2. Companies aim to create value by marketing goods, services, events,
experiences, persons, places, properties, organizations, information, and ideas.
They also operate in five basic markets: resource markets, manufacturer
markets, consumer markets, intermediary markets, and government markets.
3. Today’s marketplace is fundamentally different as a result of major societal forces
that have resulted in many new consumer and company capabilities. In particular,
technology, globalization, and social responsibility have created new
opportunities and challenges and significantly changed marketing management.
Companies seek the right balance of tried-and-true methods with breakthrough
new approaches to achieve marketing excellence.
4. Four major market forces—technology, globalization, the physical
environment, and social responsibility—have forged new consumer and
company capabilities and have dramatically altered the competitive landscape.
These changes require companies to re-evaluate their current business models
and adapt the way they create market value to the new environment.
5. The holistic marketing concept is based on the development, design, and
implementation of marketing programs, processes, and activities that are based
on breadth and interdependencies. Holistic marketing recognizes that
everything matters in marketing and that a broad, integrated perspective is
1-1
, often necessary. Four components of holistic marketing are relationship
marketing, integrated marketing, internal marketing, and performance
marketing.
OPENING THOUGHT
Good marketing is no accident. It is both an art and a science, and it results from
careful planning and execution using state-of-the-art tools and techniques. Skillful
marketers are continually updating classic practices and inventing new ones to find
creative, practical ways to adapt to new marketing realities. In this chapter, we lay
the foundation for sound marketing practices by reviewing important marketing
concepts, tools, frameworks, and issues. Marketing applies to a variety of different areas
and is increasingly involving many levels of the organization. Students who are not
marketing majors may have some difficulty accepting the encompassing role that
marketing has on the other functional disciplines within a firm. For those students who
have never been exposed to marketing and its components, the instructor’s challenge is to
educate the students about the world of marketing.
TEACHING STRATEGY AND CLASS ORGANIZATION
PROJECTS
1. Semester-Long Marketing Plan Project
An effective way to help students learn about marketing management is through the actual
creation of a marketing plan for a product or service. This project is designed to
accomplish such a task.
Dividing the class into groups, have each group decide on a “fictional” consumer product
or service they wish to bring to market. During the course of the semester, each of the
elements of the marketing plan, coordinating with the text chapter, will be due for the
instructor’s review. The instructor is encouraged to review each submission and suggest
areas for improvement, for more detailed study, or if acceptable, to allow the students to
proceed to the next phase in development. Students can use a computer program in
creating their proposals and submissions and in their final presentation(s). At the end of
the semester, each group is to present their entire marketing plan to the class.
The following is an outline of this process:
Chapter # Title Element of the Marketing Plan Due
1 Defining Marketing for the None; group formation and begin the
New Realities process of selecting the product or service.
2 Marketing Planning and Formation of groups; first presentation of
Management “product” to instructor for approval.
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