Defining Market for 21st Century by Kotler

2. Overview:
• The New Marketing Realities
• Company Orientation towards
Marketplace
• Updating the FOUR Ps

3. Marketplace wasn’t the same as it was, it is
dramatically different from what it was
even 10years ago. Two main factors are:
1.Major Societal Forces:
Network Information
Technology
Globalization
Deregulation

4. Retail Transformation
Industry Convergence
Heightened competition
Disintermediation
Consumer buying power
Consumer Information
Consumer Participation
Consumer Resistance

5. • Marketers can use the internet as a powerful
information and sales channel.

6. • Companies can improve purchasing, recruiting, training,
and internal and external communications.
• Companies can facilitate and speed up internal
communication among their employees by using
Internet as a private intranet.

7. • Marketers can send ads, coupons, samples, and
information to customers who have requested them
or given the company permission to send them.
• Marketers can facilitate and speed external
communication among customers.

8. • Marketers can collect fuller and richer
information about markets, customers,
prospects, and competitors.
• Companies can make and sell individually
differentiated goods.

9. • Marketers can reach consumers on move with
mobile marketing.

10. • Marketers can tap into social media to amplify
their brand message
• Companies can improve cost efficiency by skilful
use of internet.

11. The Marketing Concept:
The marketing concepts states
key to achieving organisational
goals is being more effective than
competitors in creating,
delivering, and communicating
superior customer value to your
target markets.

12. Production Concept:
The Production Concept holds that consumers
prefer products that are widely available and
inexpensive.

13. The selling Concept:
The selling concept holds that consumers and
businesses, if left alone, wont buy enough of the
organisation’s products.

14. The Product Concept:
The product concept prospers that consumers
favours products offers performance, or
innovative features.

15. Holistic Marketing:
The holistic marketing concept is based on the development,
design, and implementation of marketing programs, processes, and
activities that recognise their breadth and interdependencies.
Dimensions of Holistic Marketing are in fig below,

16. Relationship Marketing:
Relationship Marketing aims to build mutually
satisfying long-term relationships with key
constituents in order to earn and retain business.

17. Integrated Marketing:
Integrated marketing occurs when marketers
programs to create, communicate, and deliver
value for customers such that, “the whole is
greater than sum of its parts”

18. Internal Marketing:
Internal Marketing is the task of hiring, training,
and motivating able employees who want to serve
customers well.

19. Performance Marketing:
Performance Marketing requires understanding the
financial and nonfinancial returns to business and
society from marketing activities and programs.
It also takes into account:
i) Financial Accountability
ii) Social Responsibility Marketing

20. Updating the Four Ps

21. Evolution of Marketing Management
Marketing Mix
Four Ps
• Product
• Place
• Promotion
• Price
Modern Marketing
Management Four Ps
• People
• Process
• Programs
• Performance

22. Process:
Process reflects all the
creativity, discipline, and
structure brought to
marketing management.
People:
People reflects, in part,
internal marketing and the
fact that employees are
critical to marketing success.

23. Programs:
Programs reflects all the
firm’s consumer-directed
activities.
Performance:
We define performance as to capture
the range of possible outcome
measures that have financial and non
financial implications and implications
beyond the company itself.

24. Interested to know more, Refer
Available in All Leading
Stores,
A South Asian Prospective
Marketing Management
14th Edition, Philip Kotler

25. Credits:
• iStockPhoto.com for professional Pics.
• Colorlovers.com for Colour Scheming.
• My account @ facebook.com for Official Ola page.
• Gmail.com for promotional email details of myntra.
• Images.Google.com for Advertisements Images.
• A South Asian Perspective to Marketing Management 14th Edition Book by Kotler,
Chapter 1: Defining Marketing for 21st Century.
A Shashank Motepalli Presentation
Thanks