...5Frederick E. Webster, Jr. The Changing Role of Marketing in the Corporation New organization forms, including strategic partnerships and networks, are replacing sinnple market-based transactions and traditional bureaucratic hierarchical organizations. The historical marketing management function, based on the microeconomic maximization paradigm, must be critically examined for its relevance to marketing theory and practice in the 1990s. A new conception of marketing will focus on managing strategic partnerships and positioning the firm between vendors and customers in the value chain with the aim of delivering superior value to customers. Customer relationships will be seen as the key strategic resource of the business. .^ ., OR the past two decades, some subtle changes in the concept and practice of marketing have been fundamentally reshaping the field. Many of these changes have been initiated by industry, in the form of new organizational types, without explicit concern for their underlying theoretical explanation or justification. On the academic side, prophetic voices have been speaking (Amdt 1979, 1981, 1983; Thorelli 1986; Van de Ven 1976; Williamson 1975) but seldom heard because, representing several different disciplines, they did not sing as a chorus. More basically, perhaps, few listeners were ready to hear the message or to do the intellectual work necessary to pull the several themes together. Like the Peruvian Indians who thought the sails of Ihe Spanish...
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...The Role of Research in Marketing Product Design and Development MKT / 593 September 22, 2014 The Role of Research in Marketing Effective research is paramount in importance to ensuring a company’s product message connects with the appropriate audience. Marketing a product or service, whether it be to initially enter a market or to line extend an existing product or service involves capitalization. While no guarantees exist concerning the success of a product or service in the market, research serves to mitigate potential monetary and brand perception risks associated with taking a product or service to market. Marketing research is defined as a systematic inquiry that provides information to guide marketing decisions (Cooper & Schindler, 2011). Success or failure of a product launch in a new market can often depend on how much a company knows about potential consumers within a targeted area. For example, Aztec Foods is a distributor of beef, chicken, pork, and turkey products with a national sales footprint in retail and foodservice operations. Due to escalating price points in the beef markets, poultry has become a cost-effective, competitive market with multiple companies attempting to capture market share utilizing various flavor profile niches. Many of the companies seeking to enter these markets are not doing business within their core consumer base or utilizing core capabilities, so volatility in terms of success or failure potential within this...
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...CHANGING ROLE OF MARKETING IN THE CORPORATION Frederick E. Webster, Jr. For the past two decades, some subtle changes in the concept and practice of marketing have been fundamentally reshaping the field. Many of these changes have been initiated by industry, in the form of new organizational types, without explicit concern for their underlying theoretical explanation or justification. On the academic side, prophetic voices have been speaking (Arndt 1979, 1981, 1983; Thorelli 1986; Van de Ven 1976; Williamson 1975) but seldom heard because, representing several different disciplines, they did not sing as a chorus. More basically, perhaps, few listeners were ready to hear the message or to do the intellectual work necessary to pull the several themes together. Like the Peruvian Indians who thought the sails of the Spanish invaders on the horizon were some phenomenon of the weather and did nothing to prepare themselves for attack (Handy 1990), marketers may ignore some important information in their environment simply because it is not consistent with their past experience. The purpose of this article is to outline both the intellectual and the pragmatic roots of changes that are occurring in marketing, especially marketing management, as a body of knowledge, theory, and practice and to suggest the need for a new paradigm of the marketing function within the firm. First, the origins of the marketing management framework, the generally accepted paradigm of the marketing discipline...
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...The Role of Marketing in Business 1. Mission Statement Analysis Procter & Gamble Co, as known as P&G, is a leading consumer goods company in more than 180 countries with 80 brands. It was founded by William Procter and James Gamble on 0ctober 31, 1837. The original products of P&G are candles and soaps, but now, P&G has various kinds of products, including pet foods, cleaning agents, personal care products, as well as food and beverage. The mission of P&G is to make life better (P&G, 2003). Also, P&G has its corporate values in integrity, leadership, ownership, passion for winning, and trust perspectives. To achieve its values and mission, P&G complies with laws and P&G policies to do the business and productions. Besides, it also provides personal workplace to make sure employees have a clear, nice and safe place to work. Apart from this, P&G also present to be fair not only for its suppliers and customers, but also for its competitors. And for the research involving animals, P&G works with animal organizations to make sure the high standard of animal cares. Besides, it also invest millions dollars to innovate other test methods. Also, P&G focuses on sustainable development that providing products and services to improve the life quality of consumers in health and convenience aspects. 2. Careers in Marketing Summary Among these marketing careers, I am pretty interesting in Advertising & Public Relations, and Market Research. The Advertising & Public Relations is more...
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...A Large amount of FedEx’s corporate budget is allocated to marketing. With budgets of 28 billion dollars annually only demonstrates how much FedEx is determined to maintain its market leadership. FedEx has poured a large amount of their marketing budget into sports realizing that this area was essential to meet the marketing objectives. Steve Pacheco during his 11 year tenure, who was the cornerstone of the company’s high-quality advertising during the Super Bowl games has managed to secure this spot 12 times. Steve has realized the large audience that the Super Bowl attracts with audiences of over 111 million people. He knows that there is no other marketing means available today that draws that kind of crowd and the spot is worth every penny. In 2007 the company embarked upon several other sporting sponsorship deals such as Golf tournaments which were inclusive of a self-named tournament called the “FedEx Cup”. Other sporting associations the company did marketing through are NFL, NBA and NCAA. NASCAR was also used for promoting the company when it dubbed that promotional campaign “Everyday is Race day”. Pacheco stated, “The message that every day is race day is a great attribute. The campaign plays into the company’s characteristics because we race every day to get your packages delivered on time.” FedEx continues to be a leader by maintaining various means of courier services. These services include FedEx Express, FedEx Ground, FedEx Trade, and a 24/7 toll free customer...
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...Gaining market share in many market segments requires battling competitors on a daily basis to gain new customers and keep existing ones. The use of attack strategies needs to be part of a broader strategic market plan that looks at the inherent weaknesses of competitors in existing markets and emerging high growth opportunities in new market segments. The frontal, flank, encirclement, and bypass attacks are discussed in this paper as viable strategies for gaining market share while retaining existing customers. The last attack strategy of Guerilla warfare is also analyzed as a means to attaining a strategic market plan. The frontal attack is one that concentrates on attacking the fundamental aspects of a competitor’s marketing strategy. This includes attacking pricing, promotional programs, the product itself, and distribution strategies as well. The use of price as a differentiator by new market entrants is an example of a common frontal attack. Southwest Airlines’ use of low-price fares and free baggage when airlines today are beginning to charge for extra bags is an example of a front attack strategy. Linksys, the personal networking division of Cisco systems, also relies heavily on frontal attack strategies to gain access to new markets, including the higher-end enterprise networking market. Linksys also relies on their production efficiencies learned from serving the low-end of the wireless market to gain cost and price advantages in the enterprise networking markets...
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...ROLE OFADVERTISING IN MODERN MARKETING The History of Advertising can be traced to ancient civilizations. It became a major force in capitalist economies in the mid-19th century, based primarily on newspapers and magazines. In the 20th century. Advrtising history runs parllel to the history of mankind. Prior to the invention of printing press (1450A.D.) there were town criers who sold their goods through shouting.Advrtising is diffuclt to define its multi-dimensional .It is a powerful marketing tool it is a field of employement and a profession. The American Marketing Assoction (AMA) defines Advertising as any paid form of non-personal presentation of ideas or goods and services by an identified sponser. Advertising according to the above definition ,is a paid communation .Advertising is for wide range for product and services. Each advertising is sponserd byan identified party or an advertiser. Advertising received a boost after the indudtrial revolution in England. Printing press invention also give a boost to advertising. Advertising messages started as hand bills (1477). The first Indian agency was set up in 1905 in Girgaon, Mumbai .It was Dattaram and company .Indian advertisng completed its 110 years in 2015. Over these years, Indians advertising has had many change faces. CONTRIBUTION TO ECONOMIC GROWTH Advertising contributes to economic growth b7 helping to expand the market, particularly for new products, and by helping to develop new market segments...
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...When I was first told to write an essay on a novel that depicts the marketing phenomena I drew a blank, I immediately thought about how ridiculous a novel would be based on such a thing. As I did my research I was proved very wrong, I found that in many ways the roles of marketing is depicted in novels in a much broader sense. The novel that I chose is Animal Farm by George Orwell. Our aim in this essay is to write about what the novel tells us about marketing or consumer society. What does Animal Farm tell us about consumer behaviour? It is a message targeted at emotion, aspiration and hope that can trigger deeply emotive and primal response, which often results in us buying into an idea/product irrationally. Also, it speaks to the idea of...
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...Chapter 02 The Role of IMC in the Marketing Process Multiple Choice Questions 1. (p. 39-40) Under Armour developed dynamic advertising, sponsorships of sports leagues, a creative Web site and celebrity spokespeople to promote their sports and clothing products. Under Armour is engaged in: A. integrated marketing communications B. a centralized market strategy C. a concentrated market strategy D. an undifferentiated market strategy E. lifestyle segmentation based on sports See opening vignette. 2. (p. 41) According to the marketing and promotions process model, which of the following is NOT a stage in the target marketing process? A. market identification B. promotional decisions C. market segmentation D. positioning through marketing strategies E. target market selection 3. (p. 41) The marketing promotion model includes all of the following major components EXCEPT: A. the organization's marketing strategy and analysis B. the marketing planning program development C. the target marketing process D. the marketing management hierarchy plan E. the target market 4. (p. 41) According to the marketing and promotions process model, the marketing process begins with the: A. development of the marketing mix B. development of a marketing strategy and analysis C. development of the promotional mix D. determination of the target market E. establishment of marketing objectives 5. (p. 42) A(n) _____ is a document that evolves from an...
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...Social Media Marketing: Getting the Point Across Walter Williams Strayer University Introduction In an age where technology is everything social media marketing has become a major instrument in organizations’ advertising strategies. With the development of several social networks such as Facebook, Twitter, and Instagram there are so many avenues available for companies to advertise their products and services. In this paper I will be discussing why the use of social media marketing has increased dramatically for businesses, the advantages and disadvantages of social media marketing for entrepreneurs, how Pepsi has gain an edge with customer insight with the use of social media marketing, the impact that social media marketing will have over the next decade, and the skills need to take advantages of social media marketing. I will also provide two businesses that use social media marketing and how their use allows them to gain an edge on competition. Social Media Marketing Today Social media marketing has experienced a large increase over the last couple years. An overwhelming 94 percent of marketers, when surveyed, stated they employ social media marketing in their advertising (Stelzner, p. 10). Although, according to Stelzner, this number dropped 7% from the previous year, social media marketing is still highly beneficial to a vast majority of businesses. Influencing the power of content and social media marketing can help increase customer fan base and audience...
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...Introduction To have a competitive edge a company needs to have a vision. A vision of who it is, what it stands for and where it is going. This vision is what should be translated into a business strategy, which serves to remind a company of its purpose. In an increasingly competitive global economy fuelled by technological advances, there is a seemingly prevalent idea that the customer is key and the use of marketing data is therefore crucial to a company’s success. However, the focal point is how a company can ensure their exposure to data is to be informed, not driven by data; and how the data can be used to the company’s advantage in order to achieve long term goals. Business Strategy Johnson et al. (2008), state that strategy is the direction and scope of an organisation over the long term. Without a strategy in place to refer to, it is easy for a business to become overly focussed on the day-to-day business activities, temporarily losing sight of the goals and aspirations they have set for the business. This loss of vision can in turn lead to strategic drift, a concept explained by Handy (1989), as being the cause for businesses becoming uncompetitive in their respective environments and ultimately failing as a result of being too slow to respond to external trends and losing touch with customers. One of the main causes for strategic drift is thought to be substantial changes in technology, which have been rapid across the span of the information age. Narayanan &...
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...Правительство Российской Федерации Федеральное государственное автономное образовательное учреждение высшего профессионального образования Национальный исследовательский университет Высшая школа экономики Факультет бизнеса и менеджмента Школа бизнеса и делового администрирования Образовательная программа «Менеджмент» КУРСОВАЯ РАБОТА на тему: «Роль маркетинга в формировании спроса на потребительские товары» Студент группы №223: Павлов Н. М. Научный руководитель: Мешков Н. А. Москва, 2015 Содержание Введение 3 1. Потребительский спрос с экономической точки зрения 4 1.1. Краткий экскурс в историю изучения спроса 4 1.2. Зачем экономистам столь подробные исследования? 7 2. Важность маркетинга 9 2.1. Теоретическая часть определения маркетинга и его цели 9 2.2. Маркетинговые коммуникации 10 3. Конкретные успешные примеры использования маркетинговых стратегий 11 3.1. McDonald’s 11 3.2. Dell 12 3.3. Coca-Cola Company 13 3.4. Нечто общее между обозреваемыми примерами и небольшой вывод 14 4. Несколько нестандартная классификация некоторых маркетинговых подходов 16 4.1. Подход McDonalds 16 4.2. Подход Dell 17 4.3. Подход Coca-Cola Company 19 4.4. Преддверие некоторых возможных замечаний 20 5. К вопросу о качестве продукции...
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...ROLE OF MARKETING BOARDS IN KENYA Marketing boards are state-controlled or state-sanctioned entities legally granted control over the purchase or sale of agricultural commodities. Since the mid-1980s they have declined in number under pressure from domestic liberalization and from international trade rules that increasingly cover agriculture. Where reforms have been widespread and successful, marketing boards have vanished or retreated to providing public goods, such as strategic grain reserves or insurance against extraordinary price fluctuations i.e the National cereals board, the Tea board of Kenya. Where reforms have been less successful, the weaknesses of private agricultural marketing channels have been revealed by the rollback of marketing boards, often leading to calls for reinstatement of powerful marketing boards. It is often suggested that an exporting country should set up a price stabilization fund to insulate farmers from fluctuations in the world market price, by collecting a proportion of farmers’ revenue when prices are high and paying it out when prices are low. A typical price stabilization fund is set up for an export crop. In years when the world price is high, some of the returns are paid into the fund; in years when it is low, the accumulated revenues are used to bring up the price. There are many variations on this basic model. Some of the funds soon collapse, while others go on for years, surviving but not necessarily achieving their objectives. ...
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...Influence and evolution of social networking on marketing communication about viability about sustainability of Social Networking as a marketing communication tool Things which can be included in topic are- 1. What is Social Networking? (in brief) 2. IMC 3. Role of social networking as marketing communication 4. Influence of Sn on Mc 5. Evolution of Sn on Mc 6. Sustainability of Sn as Mc 7. Future scope 8. Conclusion Social Networking A social network is a social structure made up of individuals (or organizations) called "nodes", which are tied (connected) by one or more specific types of interdependency, such as friendship, kinship, common interest, financial exchange, marketing communication etc. [pic] There are many SOCIAL NETWORKING SERVICES as online services platform, or site that focuses on building and reflecting of social networks or social relations among people, who, for example, share interests and/or activities. A social network service consists of a representation of each user (often a profile), his/her social links, and a variety of additional services. Most social network services are web-based and provide means for users to interact over the Internet, such as e-mail and instant messaging. Online community services are sometimes considered as a social network service, though in a broader sense, social network service usually means an individual-centred...
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...The Role of Situation Analysis in Marketing Plan Facing to more complex business environment, systematically marketing plans are important to organizations in terms of maintaining a high level of operating efficiency and achieving goals fully. According to Sally and John (1996:3), marketing plans are “the written document or blueprint for implementing and controlling an organization’s marketing activities related to a particular marketing strategy” (Sally, D., Lyndon S., & John, B., 1996: 3). A successful marketing plan is able to improve organizations’ profits and growth, uses in objective setting and monitors results (Subash Jain, Michael D. Clemes, Gregory Brush, 2008: 5) In order to gain a successfully marketing plan, it is important to marketing decision makers to understand the current situation comprehensively and trends affecting the future of the organization. There are two major reasons to explain why situation analysis plays a vital role in developing marketing plan. Firstly, dynamic marketing environment will lead to uncertainty, threats and opportunities for marketers. Marketing managers who success to know changes in environment through situation analysis can lead their companies to capitalize on opportunities and cope with threats created by changes. Then, systematically analyzing situational environments is a crucial way for organizations to identify their customers and understand their needs. As Peter(1998: 23) said, “The successes of any marketing...
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