H1 tot 22. Kottler Keller. Marketing Management. 15th edition. Pearson. Useful for the study Business and Consumer Sciences at Wageningen University. Also including images to better understand the theory!
marketing management kotler keller 15th edition 15th edition management and marketing bbc business and consumer sciences wageningen university marketing management
Connected book
Book Title:
Author(s):
Edition:
ISBN:
Edition:
More summaries for
TEST BANK FOR MARKETING MANAGEMENT, 15TH EDITION BY PHILIP KOTLER
TEST BANK FOR MARKETING MANAGEMENT, 15TH EDITION BY PHILIP KOTLER
TEST BANK FOR MARKETING MANAGEMENT, 15TH EDITION BY PHILIP KOTLER
All for this textbook (32)
Written for
Wageningen University (WUR)
Bedrijfs- en Consumentenwetenschappen
Management and Marketing
All documents for this subject (11)
6
reviews
By: jingde1999 • 1 year ago
By: drnohaaz • 2 year ago
By: adibhatnagar • 3 year ago
By: Jelle15 • 3 year ago
By: jetbeuzel • 4 year ago
By: jurriendam • 4 year ago
Seller
Follow
misssummary
Reviews received
Content preview
1. Defining Marketing for the New Realities
Why is marketing important?
Many firms have a chief marketing officer (CMO) to put marketing on a more equal footing with
other C-level executives such as the chief financial officer (CFO) or chief information officer (CIO).
To do: carefully monitoring custumers and competitors, improving value offerings and marketing
strategies, satisfy employees, stockholders, suppliers and channel partners in the process.
What is the scope of marketing?
What is marketing?
Marketing= identifying and meeting human and social needs (meeting needs profitably)
American Marketing Association: marketing= activity, set of institutions and processes for creating,
communicating, delivering and exchanging offerings that have value for customers, clients, partners
and society at large.
Social definition: marketing= societal process by which individuals and groups obtain what they need
and want through creating, offering and freely exchanging products and services of value with others
Marketing management= the art and science of choosing target markets and getting, keeping and
growing customers through creating, delivering and communicating superior customer value
Peter Drucker Aim of marketing is to make selling superfluous (overbodig). Know and understand
the customer so well that the product or service fits him and sells itself (marketing should result in a
customer who is ready to buy). Then make the product or service available.
What is marketed?
Goods
Services
Events
Experiences
Persons (self-branding)
Places (attract tourists, residents, factories, company headquarters)
Properties (=eigendommen, are bought and sold, require marketing)
Organizations (boost public images and compete for audiences and funds)
Information
Ideas (products/services are platforms for delivering some idea or benefit)
Who markets?
Marketer= someone who seek a response – attention, a purchase, a vote, a donation – from another
party (prospect)
8 demand states
1. Negative demand: consumer dislikes the product (avoid)
2. Nonexistent demand: unaware or uninterested in the product
3. Latent demand: strong need, cannot be satisfied by an existing product
, 4. Declining demand: buy the product less frequently or not at all
5. Irregular demand: purchases vary (seasonal, monthly, weekly, daily, hourly)
6. Full demand: buying all products
7. Overfull demand: more demand than can be satisfied
8. Unwholesome demand: attracted to products that have undesirable social consequences
Consumer markets consumer goods and services
Business markets business goods and services
Global markets cultural, language, legal, political differences (entering, adapting products and
services, set prices, communicate)
iprofit and Governmental markets limited purchasing power. Price carefully.
What are some core marketing concepts?
Needs, wants and demands
Needs= basic human requirements
Wants= directed to specific objects that might satisfy the need
Demands= wants for specific products backed by an ability to pay
5 types of needs:
1. Stated needs (inexpensive car)
2. Real needs (car whose operating cost, not initial price, is low)
, 3. Unstated needs (expects good service from the dealer)
4. Delight needs (would like the dealer to include an anboard GPS system)
5. Secret needs (wants freinds to see him as a savvy consumer)
Target markets, positioning and segmentation
Segements of buyers (demographic, psychographic, behavioral differences)
Target markets market offering that positions in target buyers
Offerings and brands
Value proposition= set of benefits that satisfy customer needs
Made physical by an offering (products, services, information, experiences)
Brand= offering from a known source (associations)
Marketing channels
Communication channels= deliver and receive messages from target buyers (newspapers, magazines,
radio, television, mail etc.)
Distribution channels= help display, sell or deliver physical product or service to the buyer or user
(direct via internet, mail, phone etc. – indirect via retailers, sholesalers, distributors etc.)
Service channels= carry out transactions with potential buyers (banks, warehouses, insurance
companies)
Paid, owned and earned media
Paid media= TV, magazine, display ads, paid search, sponsorships
Owned media= communication channels marketers actually own (website, facebook)
Earned media= streams in which consumers, press or other outsiders voluntarily communicate
something about the brand
Impressions and engagement
Impressions= occur when consumers view a communication. Don’t provide any insight to the results
of viewing the communication.
Engagement= extent of a customers attention and active involvement with a communication (likes,
tweets, comments). More valuable for a firm.
Value and satisfaction
Value= sum of tangible and intangible benefits and costs
Customer value triad= combination quality, service and price (qsp). Value decreases with price.
Satisfaction= persons judgement of a products perceived performance in relationship to expectations
Supply chain= Channel stretching from raw materials to finished products carreid to final buyers.
Competition= all the actual and potential rival offerings and substitutes a buyer might consider
Marketing environment
Task environment= actors engaged in producting, distributing, promiting the offering
Broad environment= demographic, economic, social-cultural, natural, technological, political-legal
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through EFT, credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying this summary from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller misssummary. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy this summary for R126,09. You're not tied to anything after your purchase.
