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Marketing paradigms class lectures_14662379-Marketing-management

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Marketing Management Defining Marketing for the  Twenty­First Century The Chartered Institute of Marketing ‘Marketing is the management process that identifies, anticipates and satisfies customer requirements profitably’ Adcock et al The right product, in the right place, at the right time, and at the right price’ Kotler 1980 Marketing is the human activity directed at satisfying human needs and wants through an exchange process’ Kotler 1991 ‘Marketing is a social and managerial process by which individuals and groups obtain what they want and need through creating, offering and exchanging products of value with others’ Objectives  Understand the new economy.  Learn the tasks of marketing.  Become familiar with the major concepts and tools of marketing.  Understand the orientations exhibited by companies. Objectives  Learn how companies and marketers are responding to new challenges. The New Economy  Consumer benefits from the digital revolution include: – Increased buying power. – Greater variety of goods and services. – Increased information. – Enhanced shopping convenience. – Greater opportunities to compare product information with others. The New Economy  Firm benefits from the digital revolution include: – New promotional medium. – Access to richer research data. – Enhanced employee and customer communication. – Ability to customize promotions. Challenges of Today’s Organization Change Bigness ...
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