...Chapter 1: The role of marketing in organisations and society Essential reading Kotler, P. and G. Armstrong Principles of Marketing. (Upper Saddle River, NJ: Prentice Hall, 2004) tenth edition [ISBN 0131018612] Chapters 1 and 20. Keywords: activity; function; philosophy; needs and wants; orientation; transactions and relationship marketing; globalisation; environment; demographics. Introduction Consider what the word ‘marketing’ means to you. You may imagine it to be the title of a department within an organisation or a particular activity that can be undertaken by people, government departments and organisations. There are, in fact, three major ways in which marketing can be perceived, and we start this chapter by defining each of them. As an activity, marketing is possible only where there is a market and we will identify the conditions necessary for the existence of a market later in this chapter. Over the years there have been significant developments in the way marketing is used by firms. In this chapter, we will introduce the branches of marketing that have developed to address the needs of particular groups of marketers. We will also draw your attention to the ways in which marketing can help to develop a firm’s orientation towards the marketplace. Such an orientation can affect the very functioning of an organisation – from the way it develops its products to the way it sells them. We end the chapter by looking at the impact of ethics and social...
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...What is marketing? An activity, set of institutions and processes for creating, communicating , delivering and exchanging offerings that have value for customers, clients, partners and society at large * Marketing Process: First four steps marketing organisations uncover knowledge about consumers, create customer value and build strong customer relationships. Whereas the final step companies reap the rewards of creating superior customer value. * Core marketing concepts: * Needs, wants and demands: * Needs: States of felt deprivation. Humans have many complex needs. These include physical such as food, clothing. Social such as belonging and affection and individual as knowledge. Marketers try to help stimulate human’s needs. When a need isn’t satisfied a person will try either to reduce their desires or satisfy them with what is available. People in industrial societies might try to find or develop objects that will satisfy their needs. * Wants: The form taken by human needs as they are shaped by culture and individual personality. Want are descirbed in terms of objects that will satisfy needs. As society evolves the wants of its memebers expand. As people are expose to more objects that arouse their interest and desire, producers try to provide more want satisifying goods and services. Eg: A hungry person might want Mc Donald’s as their quick lunch. * Demands: Human wants that are backed by buying power. People almost have unlimited wants but limited...
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...Week 4 – Video Analysis BUSN460 March 26, 2013 Issue #1 – Nick has a serious lack of focus and professionalism. In the first episode he was continually mocking, snickering, and making inappropriate gestures towards the other employees. As we’ve said before, CanGo needs a major improvement with their professionalism and focus. They were discussing a potentially big “money-loser” at the time regarding consumer buying online and they needed to be focused on that issue, not what the two women had purchased. Issue #2 – E-tail research. There was a brief talk of doing “e-tail” research for the present time. That is great, but there needs to be ongoing interest consumer research done. CanGo only seems to be focused on the end result instead of all the things they could be doing in the middle to increase that end result. They need to find out why consumers are not clicking the “buy” button and are stopping after they add items to their cart. Issue #3 – No consumer analysis. As we have said before, there is no evidence than CanGo has done any market or industry analysis, nor consumer analysis. These are factors that are crucial to boosting their sales and revenue, and to keep them in business. They have no idea what their customer and/or potential customers want or need in their product because they have not done the research. Issue #4 – Opposite extremes for customer base. It is stated that their customer base consists of “achievers” and “experiencers.”...
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...GREEN MARKETING INTRODUCTION: Although environmental issues influence all human activities, few academic disciplines have integrated green issues into their literature. This is especially true of marketing. As society becomes more concerned with the natural environment, businesses have begun to modify their behavior in an attempt to address society's "new" concerns. One business area where environmental issues have received a great deal of discussion in the popular and professional press is marketing. Terms like "Green Marketing" and "Environmental Marketing" appear frequently in the popular press. Many governments around the world have become so concerned about green marketing activities that they have attempted to regulate. For example, in the United States (US) the Federal Trade Commission and the National Association of Attorneys-General have developed extensive documents examining green marketing. One of the biggest problems with the green marketing area is that there has been little attempt to academically examine environmental or green marketing. While some literature does, it comes from divergent perspectives. WHAT IS GREEN MARKETING Unfortunately, a majority of people believe that green marketing refers solely to the promotion or advertising of products with environmental characteristics. Terms like Phosphate Free, Recyclable, Refillable, Ozone Friendly, and Environmentally Friendly are some of the things consumers most often associate with green marketing. While...
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...This essay will explain the difference between marketing in the Business and Healthcare industry by discussing the key aspects and impacts of the external environment with each industry. I will develop and address the issues presented by customers want and needs in aspect of the healthcare professional and debate the need for marketing in the hospitals versus clinics. As a healthcare provider of a clinic, explanation will be given to differentiate the advantages of my clinic of choice versus other clinics. Marketing and business development in the business industry are processes of cultivating ongoing relationships that lead to deep trust and long-term value-exchange between the business and their stakeholders to develop and maintain purpose-based relationships. Marketing is all about putting customers/patients at the heart of the business and responding to their needs and wants toward implementing a mission and goal. In a challenging economic climate, the customer needs to trust that the product offers something unique in terms of style, quality and sustainability - these all derive from strategic planning. Business ethics can be powerful marketing tool and should form a key part of your marketing strategy when combined with the quality and style of the product. Dell Computer is a great example of bold and daring marketing that has endured. When the computer industry was employing nothing but conventional wisdom and selling through complicated and profit-draining distribution...
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...Essentials of Marketing 14e For use only with Perreault/Cannon/McCarthy or Perreault/McCarthy texts. © 2014 McGraw-Hill Companies, Inc. McGraw-Hill/Irwin Multimedia Lecture Support Package to Accompany Essentials of Marketing Lecture Script 20-1 This slide refers to material on p. 499. Summary Overview This chapter concludes Essentials of Marketing by covering three broad concepts: 1) Evaluating marketing As indicated in Chapter 1, there are two levels of marketing: • the micro (managerial) level—concerns the marketing activities of an individual firm; and • the macro level—concerns how the whole marketing system works. 2) The key components of an innovative marketing plan. 3) Challenges facing marketers. Multimedia Lecture Support Package to Accompany Essentials of Marketing Lecture Script 20-2 This slide relates to material on p. 498. Summary Overview This chapter suggests that satisfaction and costs serve as criteria for evaluating the impact of marketing. Key Issues • A nation’s objectives affect the evaluation of marketing. • The social and economic objectives of a nation may differ depending on that nation’s socio-political structure. • Consumer satisfaction is the objective in the United States. • This objective is derived from a market-based economic system, and it implies that political freedom and economic freedom go hand in hand. • In the U. S., people have the right to live as they choose and to satisfy their economic and social needs as they...
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...Peer Reviewed Title: An Introduction To Green Marketing Journal Issue: Electronic Green Journal, 1(2) Author: Polonsky, Michael Jay, University of Newcastle Publication Date: 1994 Publication Info: Electronic Green Journal, UCLA Library, UC Los Angeles Permalink: http://escholarship.org/uc/item/49n325b7 Abstract: The scope and importance of the relationship between business and the environment, and a survey of the pitfalls and abuses. eScholarship provides open access, scholarly publishing services to the University of California and delivers a dynamic research platform to scholars worldwide. Polonsky: An Introduction To Green Marketing An Introduction To Green Marketing Michael Jay Polonsky Department of Management, University of Newcastle, Newcastle NSW 2308, Australia. TEL: 61(49)216-911. Fax:61(49)216-911. INTRODUCTION Although environmental issues influence all human activities, few academic disciplines have integrated green issues into their literature. This is especially true of marketing. As society becomes more concerned with the natural environment, businesses have begun to modify their behavior in an attempt to address society's "new" concerns. Some businesses have been quick to accept concepts like environmental management systems and waste minimization, and have integrated environmental issues into all organizational activities. Some evidence of this is the development of journals such as "Business Strategy and the Environment"...
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...CHAPTER OBJECTIVES 1. Define what marketing is and discuss its core concepts. 2. Explain the relationships between customer value, satisfaction, and quality. 3. Define marketing management and understand how marketers manage demand and build profitable customer relationships. 4. Compare the five marketing management philosophies. 5. Analyze the major challenges facing marketers headings into the next century. CHAPTER OVERVIEW Marketing is part of all of our lives and touches us in some way every day. To be successful each company that deals with customers on a daily basis must not only be customer-driven, but customer-obsessed. The best way to achieve this objective is to develop a sound marketing function within the organization. Marketing is defined as 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. Marketing is a key factor in business success. The marketing function not only deals with the production and distribution of products and services, but it also is concerned with the ethical and social responsibility functions found in the domestic and global environment. Marketing and its core concepts, the exchange relationship, a brief description of marketing management, the five major philosophies of marketing thought and practice, marketing challenges in the new millennium, marketing’s relationship to the information technology boom...
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...Assignment On Marketing in travel and tourism Name: Date: Course title: Task 1 1.1 Core concept of marketing for the travel and tourism sector Travel and tourism are interconnected; there are little differences between the two terms. However, Houge Mackenzie & Kerr (2013) describes tourism as “activities of a person or persons staying in a place outside their homes or their environment for the purpose of leisure, business and other purposes”. Marketing for tourism and travel industry requires excellent marketing strategies and plans in order to attract and prompt different kinds of tourist. However, the perception behind marketing for travel and tourism sectors collaborates of consumers’ needs and wants, as well as meeting the demands of customers. Therefore, Customers’ needs are of utmost necessity which sustains their lives, for instance, water and food. While customers’ wants are goods and services that give consumers fulfilment and desires case in point a car etc. Furthermore, wants are boundless and never ending. As a result, marketing can have a great impact on consumer’s judgment to desire things that wouldn’t look attractive in the first instance. Consequently, Expectations on a whole is how consumers look at certain items or things that they fancy. Based on this, the greater the want, the greater the expectation will be of a particular good and service. Therefore, Thomson holiday must ensure that goods or services meets and satisfies the standard...
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...Classic Airlines Marketing Solution MKT/571 June 11, 2012 Karlene Swalley Classic Airlines Marketing Solution Classic Airlines is facing numerous internal and external issues both internal and external. The external and internal marketing problems are affecting the needs and wants of the customers, stakeholders, and the profitability of the company. It is the responsibility of the Marketing department to review and come up with a sound marketing solution to assist with combating the poor sales, and reduced profits of the company and to win back and connect with its customers. The marketing department will employ a problem-solving model to solve Classic Airlines marketing problems. The model will consist of nine steps and it will assist the marketing department with identifying and defining the problem. Then, applying the problem solving process, it will help to aide with the comeback of the company to a thriving business. To be an effective marketing team it is imperative that the stakeholders are involved and that a plan of action is utilized to research the problems that are identified. The following nine step approach to problem solving by Management-Hub (2012) is an effective tool to assist the marketing department. • Develop a problem statement • Identify the potential cause of the problem • Gather data and verify the likely cause • Identify possible solutions • Evaluate alternative solutions • Determine the best solution • Revise the project plan ...
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...opportunities and potential markets for an organization. Doing so would not only allow marketers to identify their audience and target, but also identify their expectations, wants, and needs. (Gok and Hacioglu 2010) Researching prices competitors charge for like-products will allow marketers to compare and strategize. They need to ensure that pricing is fair in comparison to what the consumer is receiving, as well as appealing. To improve the organization, it is extremely important and essential that marketers seek feedback -both positive and critical - as well as taking into consideration any ideas consumers provide. Marketers must also strategically decide how they will advertise, to whom, the location and time. After all, the ideal result of market research is to ensure the satisfaction of consumers. (Dickinson, Herbst and O’Shaughnessy 1986) Marketing strategies are developed in a process in which results in an organization successfully putting their product/service on the market to be available to consumers. The marketing mix is composed of four factors; product/service, place, price and promotions. (Reid 1980) The ‘product/service’ factor involves identifying the product/service you want to sell or provide. When evaluating this factor, a marketer would consider what a consumer wants to satisfy their needs. The ‘place’ factor involves identifying where your product/service will be available to consumers. When evaluating this factor, a marketer will consider how the...
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...Marketing Mix MKT/421 Marketing Mix Marketing mix is extremely important in marketing strategy and is commonly referred to as the four P’s. The four P’s is not about the customer, but more about the product. Satisfaction of the target market is the key but the Four P’s deal with superior product development. The four P’s when developed properly within a marketing strategy will help satisfy the needs of customers in a specific target market and maximize the performance of the organization. In this paper this writer will examine the different parts and how the four P’s are thought out and implemented within a company (2009). In this paper this writer will use Kwik Trip Company as an example. Kwik Trip is one of the top 100 convenience stores with 350 plus stores in the Midwest. There are Kwik Trips all over Minnesota, Wisconsin and Iowa, but will focus on the company as a whole. Marketing is centralized in the corporate location of Lacrosse, WI, but the strategy is geared in the direction of dividing compounds. The primary components of the marketing mix that will be assessed are products. PRODUCT The first of the four P’s is product. This area deals with many issues in the design of the product or physical good that is offered. What is the product or Service? One has to know what the target market wants. What features...
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...MKT 3352-001 Quiz Chapter 1 1. When choosing a certain brand or product for consumption or service that resembles you or who you want to be, that product is a sense of a ___________. A. Lifestyle statement B. global culture C. popular culture D. Interdependence product 2. A customer has been shopping at the same store for the past 30 years because her husband likes to go there. After her husband passed away she continues to shop there. The consumer is showing what kind of attachment? A. Self-Concept attachment B. Interdependence C. Love D. Nostalgic attachment 3. What is a basic objective of marketing? A. Marketing manipulates people’s wants and needs B. Create awareness for the consumer in their needs C. Marketing creates information for customers to do their own research D. Make people feel more envious of other products 4. The study of the processes involved when individuals or groups select, purchase, use, or dispose of products, services, ideas, or experiences to satisfy needs and desires is best described as____________? A. Consumer Behavior B. Customer Identity C. Customer Marketing D. All of the above E. Both A and B 5. Which of the following is NOT a stage in the consumption process? A. Prepurchase issues B. purchase issues C. Postpurchase issues D. Midpurchase issues E. All of the above are stages 6. The online means of communication, conveyance, collaboration, and cultivation among interconnected and interdependent networks...
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...Parikh BUS620: Managerial Marketing (MAC1125A) Erich Randall June 17, 2011. The Exchange Relationship: From not an Easy Sell Product According to Mullins and Walker (2010, p.12, para 7), “Market consist of (a) individuals, and organizations, who (b) are interested, and willing, to buy a particular product to obtain benefits, that will specify a specific need or want, and who (c) have the resources [such as] (time, money) to engage in such a transaction.” “People have different needs, wants, and resources, [so] the entire population is seldom a viable market for a single product or service” (Mullins & Walker, 2010, p.13, para 1). Hence, “Market for a given product is fragmented into several distinct market segments, [and] each segment contains people, homogenous in their needs, want, and product benefit they seek” (Mullins & Walker, 2010, p.13, para 2). According to Tillinger (2008, May 8), “Not every product is an easy sell, [and] there are certain items, and products, which require a bit more effort, and creativity, [in] the process of selling [to customer, who does not want to be a customer]” (Tillinger, 2008, May 8). According to Tillinger (2008, May 8), the key is “Creativity, and understanding, the customer’s perspective are important, when trying to sell [such] products.” Companies marketing product that may not be an ‘easy sell’ face certain issues, and “strategic marketing management involves a seller trying to determine [these issues] in an effort to determine...
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...customer-focused and heavily committed to marketing. These companies share a passion for understanding and satisfying customer needs in well-defined target markets. They motivate everyone in the organization to help build lasting customer relationships based on creating value. Marketing is just as important for non-profit-making organizations as it is for profit-making ones. It is very important to realize that at the heart of marketing is the customer. It is the management process responsible for identifying, anticipating and satisfying consumer requirements profitability. Background The term ‘‘marketing’’ is derived from the word ‘‘market’’, which refers to a group of sellers and buyers that cooperate to exchange goods and services. The modern concept of marketing evolved during and after the revolution in the 19th and 20th centuries. During that period, the proliferation of goods and services, increased worker specialization and technological advances in transportation, refrigeration and other factors that facilitate the transfer of goods over long distances resulted in the need for more advance market mechanisms and selling techniques. But it was not until the 1930s that companies began to place a greater emphasis on advertising and promoting their products and began striving to tailor their goods to specific consumer needs. By the 1950s, many larger companies were sporting entire marketing departments charged with devising and implementing marketing strategies that would complement...
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