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Chapter 1 Defining Marketing for the 21st Century by: It has already happened.
Unfortunately, it is unequally distributed among companies, industries and nations. Kotler on Marketing Chapter Objectives: What is the new economy like?
What are the tasks of marketing? What are the major concepts and tools of marketing? What orientations do companies exhibit in the marketplace? How are companies and marketers responding to the new challenges? Companies can collect fuller and richer information about markets, customers, prospects and competitors.
Companies can facilitate and speed up communications among employees. Companies can have 2-way communication with customers and prospects The New Economy: Companies can customize offerings and services to individual customers.
The Internet can be used as a communication channel for purchasing, training, and recruiting. Companies can improve logistics and operations for cost savings while improving accuracy and service quality. Which of these affords the greatest opportunity for established businesses? Which affords the greatest opportunities for new businesses?
Discussion Question Marketing Task: Make sure the marketing department starts small and flat and stays small and flat. Get face to face with the people who matter most — the customers. Use market research cautiously. Hire only passionate missionaries.
Create a community of consumers. Rethink the marketing mix. Be true to the brand. Negative demand A major part of the market dislikes the product and may even pay a price to avoid it—vaccinations, dental work, vasectomies, and gallbladder operations, for instance.
Employers have a negative demand for ex-convicts and alcoholics as employees. The marketing task is to analyze why the market dislikes the product and whether a marketing program consisting of product redesign, lower prices, and more positive promotion can change beliefs and attitudes.
No demand Target consumers may be unaware of or uninterested in the product. Farmers may not be interested in a new farming method, and college students may not be interested in foreign-language courses.
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Negative demand A major part of the market dislikes the product and may even pay a price to avoid it—vaccinations, dental work, vasectomies, and gallbladder operations, for instance. Starting a wellness program doesn't always mean installing a fitness center and hiring a full-time wellness coach.
Here's how to improve your employee's health without hurting your bottom line.