Marketing Concepts and Philosophies Lecture 2 Lecture Outline

The New Marketing Realities

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lec 2
Lecture 2 Risk And Return - part 1 october 15 (3), profitability and market

The New Marketing Realities

  • We can say with some confidence that the marketplace isn’t what it used to be. It is dramatically different from what it was even 10 years ago.


  • “Marketers market 10 main types of entities:
  • Goods, services, events, experiences, persons, places, properties, organizations, information, and ideas.”
  • What Is Marketed?

Types of Entities

1- Goods:

  • Physical goods constitute the bulk of most countries’ production and marketing efforts. Give Examples
  • 2- Services

  • As economies advance, a growing proportion of their activities focuses on the production of services. Give Examples
  • 3- Events

  • Marketers promote time-based events, such as major trade shows, artistic performances, and company anniversaries.

Types of Entities

4- Experiences

  • By orchestrating several services and goods, a firm can create, stage, and market experiences. Walt Disney World’s Magic Kingdom allows customers to visit a fairy kingdom, a pirate ship, or a haunted house. There is also a market for customized experiences, such as a week at a baseball camp with retired baseball greats, a four-day rock and roll fantasy camp, or a climb up Mount Everest
  • 5- Persons

  • Artists, musicians, CEOs, physicians, high-profile lawyers and financiers, and other professionals all get help from celebrity marketers.
  • 6- Places

  • Cities, states, regions, and whole nations compete to attract tourists, residents, factories, and company headquarters

Types of Entities

7- Properties

  • Properties are intangible rights of ownership to either real property (real estate) or financial property (stocks and bonds). They are bought and sold, and these exchanges require marketing.
  • 8- Organizations

  • Organizations work to build a strong, favorable, and unique image in the ,minds of their target publics. Give Examples

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