Summarizing Chapter 1. "Defining Marketing For The 21st Century" from "Marketing Management" by Kotler, Keller, Koshi, Jha.

3. Production
Concept
Widely
available and
inexpensive
products
Mass
distribution
High
production
efficiency
Low costs
Useful when
1) Demand exceeds supply
2) Product’s cost is too high
Used to expand the
market
E.g. Lenovo and
Haier, in China,

4. Product
Concept
Innovation
Proper
distribution
Proper
advertising
Chances of better-
mousetrap fallacy
Quality feature
Better Performance
Proper pricing

5. Selling Concept
Marketing based
on hard selling is
risky.
or Complain to
the consumer
organization
or Bad
mouth the
product
They should
not return it
back
Consumers & Businesses, if
left alone, won’t buy enough
products
Selling unsought goods
like insurance or cemetery
plots
rather Buy the
products again

6. Marketing
Concept
Delivering
superior
customer values
Preoccupied with the idea
of satisfying the needs of
customers by means of
product
Needs of Buyer
rather than Needs
of Seller
Better communication
Job is to find not the right
customers for your product,
but the right products for
your customers
Creating superior values
for the buyer

7. Holistic
Marketing
Integrated
marketing
Performance
marketing
Internal
marketing
Relationship
marketing
Communications
Products &
Services Channels
Marketing
department
Senior
management
Other
departments
Customers Channel PartnersBrand & customer
equity Legal
Community
Environment
Ethics
Sales revenue

8. Integrated
Marketing
The whole is
greater than sum
of its parts
Integrated channel
strategy
Consistent brand
message at every
contact
Communication
option should
reinforce and
complement each
other
Marketing activities and
programs
To create, communicate, and
deliver value to customers
Integrated
communications
Direct effect on
sales and brand
equity

9. Internal
Marketing
Motivating the
employees
Vertical alignment
with senior
management
It succeeds when
all departments
work together
It becomes a company
wide undertaking
Hiring able employees
Training the employees
Marketing is no
longer
responsibility of
a single
department
Horizontal
alignment with
other
departments

10. Relationship
Marketing
Ultimate
outcome is a
unique marketing
network
Conduct customer
relationship
management
Effective network
with stakeholders
and profits will
follow
Customers,
employees, suppliers,
distributors, retailers
and others
Deep, enduring
relationship with
people and
organizations
Mutually satisfying long
term relationship
Consisting of
company and
stakeholders
And partner
relationship
management

11. Performance
Marketing
Marketing
metrics:
quantifying and
comparing
marketing
performance
Environmental
Ethnical
SOCIAL
RESPONSIBILITY
MARKETING
FINANCIAL
ACCOUNTABILITY
Justify investment in
financial and profitability
terms
Marketing
research and
statistical
analysis
Legal
Social

12. Presentation by
YASH SHARMA
(IIT BHU)
(during a summer intern under
Prof. Sameer Mathur
IIM Lucknow)

13. RECAP
1) The Production Concept
2) The Product Concept
3) The Selling Concept
4) The Marketing Concept
5) The Holistic Marketing Concept
• Internal Marketing
• Integrated Marketing
• Relationship Marketing
• Performance Marketing