Page 51 - Marketing Management

28 PART 1 UNDERSTANDING MARKETING MANAGEMENT

Finally, Atlas must build a marketing organization capable of implementing the marketing plan
(see Chapter 22). Because surprises and disappointments can occur as marketing plans unfold,
Atlas will need feedback and control to understand the efficiency and effectiveness of its marketing
activities and how it can improve them. 56

Summary

1. Marketing is an organizational function and a set of and changed marketing management significantly as
processes for creating, communicating, and deliver- companies seek new ways to achieve marketing
ing value to customers and for managing customer excellence.
relationships in ways that benefit the organization 5. There are five competing concepts under which or-
and its stakeholders. Marketing management is the ganizations can choose to conduct their business:
art and science of choosing target markets and the production concept, the product concept, the sell-
getting, keeping, and growing customers through ing concept, the marketing concept, and the holistic
creating, delivering, and communicating superior marketing concept. The first three are of limited use
customer value. today.
2. Marketers are skilled at managing demand: they seek 6. The holistic marketing concept is based on the devel-
to influence its level, timing, and composition for goods, opment, design, and implementation of marketing pro-
services, events, experiences, persons, places, proper- grams, processes, and activities that recognize their
ties, organizations, information, and ideas. They also breadth and interdependencies. Holistic marketing rec-
operate in four different marketplaces: consumer, busi- ognizes that everything matters in marketing and that a
ness, global, and nonprofit. broad, integrated perspective is often necessary. Four
3. Marketing is not done only by the marketing depart- components of holistic marketing are relationship mar-
ment. It needs to affect every aspect of the customer keting, integrated marketing, internal marketing, and
experience. To create a strong marketing organization, socially responsible marketing.
marketers must think like executives in other depart- 7. The set of tasks necessary for successful marketing
ments, and executives in other departments must think management includes developing marketing strategies
more like marketers. and plans, capturing marketing insights, connecting
4. Today’s marketplace is fundamentally different as a re- with customers, building strong brands, shaping the
sult of major societal forces that have resulted in many market offerings, delivering and communicating value,
new consumer and company capabilities. These and creating long-term growth.
forces have created new opportunities and challenges

Applications

Marketing Debate Marketing Discussion
Does Marketing Create or Satisfy Shifts in Marketing
Needs? Consider the broad shifts in marketing. Do any themes
Marketing has often been defined in terms of satisfying cus- emerge in them? Can you relate the shifts to the major soci-
tomers’ needs and wants. Critics, however, maintain that etal forces? Which force has contributed to which shift?
marketing goes beyond that and creates needs and wants
that did not exist before. They feel marketers encourage
consumers to spend more money than they should on
goods and services they do not really need.
Take a position: Marketing shapes consumer needs
and wants versus Marketing merely reflects the needs
and wants of consumers.