kot57578_ch01

kot57578_ch01 - PA R T 1 UNDERSTANDING MARKETING MANAGEMENT...

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PART 1 UNDERSTANDING MARKETING MANAGEMENT IN THIS CHAPTER, WE WILL ADDRESS THE FOLLOWING QUESTIONS: 1. Why is marketing important? 2. What is the scope of marketing? 3. What are some fundamental marketing concepts? 4. How has marketing management changed? 5. What are the tasks necessary for successful marketing management?
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3 wo teenage girls walk into their local Starbucks. One goes to the counter and hands the barista cards for two free peppermint lattes and purchases some pastries. The other sits at a table and opens her Apple PowerBook. Within a few seconds, she connects to the Internet courtesy of Starbucks’ deal with T-mobile to create wireless HotSpots at over a thousand Starbucks stores. Once on the Net, the girl “Googles” the name of the band that played the soundtrack of the movie she saw last night. A number of Web sites come up along with two ads—one for tickets to the band’s concert tour and another for the soundtrack CD and movie DVD at Amazon.com. When she clicks through to the Amazon ad, search engine giant Google rings up some money. (Through its adwords pro- gram, it gets paid whenever someone clicks on an advertiser’s ad.) Now her friend has returned with lattes in hand. Teen #2 is eager to show off her par- ents’ Sweet Sixteen gift to her—a ruby-red A220 Samsung cell phone created by a team of young Korean designers after months of market research and T New York’s Time Square: a live demonstration of the many faces of marketing today. CHAPTER 1 ::: DEFINING MARKETING FOR THE 21ST CENTURY one >>> Marketing is everywhere. Formally or informally, people and orga- nizations engage in a vast number of activities that could be called marketing. Good marketing has become an increasingly vital ingre- dient for business success. And marketing profoundly affects our day-to-day lives. It is embedded in everything we do—from the clothes we wear, to the Web sites we click on, to the ads we see:
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4 PART 1 > UNDERSTANDING MARKETING MANAGEMENT < focus groups. The phone resembles a cosmetic compact and dispenses dieting tips as well as advice on how to dress for the weather. The two girls are oohing and aahing over the tiny display that doubles as a mirror when they see the reflection of a city bus sporting a giant banner ad for the newest HBO comedy series. . . . Good marketing is no accident, but a result of careful planning and execution. Marketing practices are continually being refined and reformed in virtually all industries to increase the chances of success. But marketing excellence is rare and difficult to achieve. Marketing is both an “art” and a “science”—there is constant tension between the formulated side of marketing and the creative side. It is easier to learn the formulated side, which will occupy most of our attention in this book; but we will also describe how real creativity and passion operate in many companies. This book will help to improve your understanding of marketing and your ability to make the right marketing decisions. In this
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This note was uploaded on 04/02/2008 for the course MKT 302 taught by Professor Peloso during the Spring '08 term at ASU.

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kot57578_ch01 - PA R T 1 UNDERSTANDING MARKETING MANAGEMENT...

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