gmmch01 introduction.ppt

Global Marketing Management Writer: Warren J. Keegan Chapter 1 Introduction to Global Marketing Chapter 1/ 2 Overview z The Marketing Concept z The Three Key Elements of Marketing z Scope and Boundaries of Global Marketing z Importance of Global Marketing z Management Orientation and Global Marketing z Factors Supporting or Inhibiting Global Integration z Summary Chapter 1/ 3 Learning Objectives z Understanding how the world economy developed over the past decades z Knowing the impact of globalization on the marketing discipline z Learning about the interdependencies between management orientation and marketing performance z Understanding the factors supporting or inhibiting international marketing activities Chapter 1/ 4 Defining marketing Marketing is not a science: there is no single definition or approach to understanding marketing. y Marketing – a social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others. (Kotler et al. 2001, p5) y The aim of marketing is to make selling superfluous. This aim is to know and to understand the customer so well that the product or service fit him/her and sells itself. (management guru Peter Drucker ) Chapter 1/ 5 All-important themes of marketing z The ability to satisfy customers. z The exchange of a product or service for a payment z The need to create an edge petitors. z Identification of favorable marketing opportunities. z Shrewd utilization of resources to maximize a business ’ s market position. z The aim to increase market share in priority target markets. Chapter 1/ 6 A simple marketing framework Chapter 1/ 7 Marketing: A Universal Discipline z Marketing (1) : the process of focusing resources and objectives of anization on environmental opportunities and needs z Marketing (2) : a set of concepts, tools, theories, practices, procedures, and experiences z Although a universal discipline, market