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| *Ostroff, Fair and Company>>>Marketing & Sales |
What is marketing ?? andd? |
wt are the concepts of marketing????:............wt are the stretegies of marketing really need help ...for asignment 鈥oday鈥檚 successful; companies at all levels have one thing in common. 鈥ll successful companies are strongly customer focused and heavily committed to marketing. 鈥o be successful, an organization motivates everyone in the organization to produce superior value for their customers, leading to high levels of customer satisfaction. What is marketing? 鈥reating customer value and satisfaction are at the very heart of modern marketing thinking and practice. 鈥ound marketing is critical to the success of every organization. 鈥t鈥檚 all around you. Marketing Defined Many people think of marketing only as selling and advertising. 鈥arketing is no longer 鈥渢elling and selling.鈥? 鈥arketing鈥檚 new sense is concerned with satisfying customer needs. Needs, Wants, and Demands Needs: Human needs are the most basic concept underlying marketing. A human need is a state of felt deprivation. 1). Humans have many complex needs: 鈥asic, physical needs for food, clothing, warmth, and safety. 鈥ocial needs for belonging and affection. 鈥ndividual needs for knowledge and self-_expression. Wants: Another concept in marketing is human wants. A human want is the form that a human need takes as shaped by culture and individual personality. Demands: 鈥emands are human wants that are backed by buying power. 鈥onsumers view products as bundles of benefits and choose products that give them the best bundle for their money. 鈥eople demand products with the benefits that add up to the most satisfaction. Outstanding marketing companies go to great lengths to learn about and understand their customer鈥檚 needs, wants, and demands. Products, Services, and Experiences 鈥 product is anything that can be offered to a market to satisfy a need or want. A service is an activity or benefit offered for sale that is essentially intangible and does not result in the ownership of anything. oThe concept of product is not limited to physical objects and can include experiences, persons, places, organizations, information, and ideas. oBe careful of paying attention to the product and not the benefit being satisfied. Exchanges, Transactions, and Relationships Exchange 鈥arketing occurs when people decide to satisfy needs and wants through exchange. 鈥xchange is the act of obtaining a desired object from someone by offering something in return. 鈥xchange is only one of many ways to obtain a desired object. 鈥xchange allows a society to produce much more than it would with any alternative system. Transaction 鈥 trade of values between two parties. 鈥 transaction usually involves at least two things of value, agreed-upon conditions, a time of agreement, and a place of agreement. 鈥ost involve money, a response, and action. Relationships 鈥 transaction in marketing is part of a larger idea of relationship marketing. 鈥eyond creating short-term transactions, marketers need to build long-term relationships with valued customers, distributors, dealers, and suppliers. 鈥ltimately, a company wants to build a unique company asset called a marketing network 鈥he goal of relationship marketing is to deliver long-term value to the customer, and thereby secure customer satisfaction. Marketing Management Practice Marketing practice often passes through three stages: 1.Entrepreneurial marketing: most companies are started by individuals who live by their intelligence. 2.Formulated marketing: As small companies achieve success, they inevitably move toward more formulated marketing. 3.Intrepreneurial marketing: If companies lose their passion and marketing creativity, they must reestablish their companies with interpreneurship at the local level. Marketing Management Philosophies There are five alternative concepts under which organizations conduct their marketing activities: the production, product, selling, marketing, and societal marketing concepts: The Production Concept 鈥he production concept holds that consumers will favor products that are available and highly affordable and that management should, therefore, focus on improving production and distribution efficiency. This is one of the oldest philosophies that guide sellers. 鈥he production concept is useful when: a.Demand for a product exceeds the supply. b.The product鈥檚 cost is too high and improved productivity is needed to bring it down. The risk with this concept is in focusing too narrowly on company operations. Do not ignore the desires of the market. The Product Concept The product concept states that consumers will favor products that offer the most quality, performance, and features, and that the organization should, therefore, devote its energy to making continuous product improvements. The Selling Concept 鈥any organizations follow the selling concept. 鈥he selling concept is the idea that consumers will not buy enough of the organization鈥檚 products unless the organization undertakes a large-scale selling and promotion effort. 鈥his concept is typically practiced with unsought goods (those that buyers do not normally think of buying). 鈥ndustries that use this concept usually have overcapacity. Their aim is to sell what they make rather than make what will sell in the market. 鈥here are not only high risks with this approach, but low satisfaction by customers. The Marketing Concept 鈥he marketing concept holds that achieving organizational goals depends on determining the needs and wants of target markets and delivering the desired satisfactions more effectively and efficiently than competitors do. 鈥he marketing and selling concepts are often confused. The primary differences are: 鈥he selling concept takes an 鈥渋nside-out鈥?perspective (focuses on existing products and uses heavy promotion and selling efforts). 鈥he marketing concept takes an 鈥渙utside-in鈥?perspective (focuses on customer needs, values, and satisfactions). Many companies claim to adopt the marketing concept but really do not unless they commit to market-focused and customer-driven philosophies. The Societal Marketing Concept 鈥he societal marketing concept holds that the organization should determine the needs, wants, and interests of target markets. It should then deliver the desired satisfactions more effectively and efficiently than competitors in a way that maintains or improves the consumer鈥檚 and the society鈥檚 well-being. 鈥he societal marketing concept is the newest of the marketing philosophies. 鈥ccording to the societal marketing concept, the marketing concept overlooks possible conflicts between short-run consumer wants and long-run consumer welfare. 鈥he societal concept calls upon marketers to balance three considerations in setting their marketing policies: a.Company profits. b.Customer wants. c.Society鈥檚 interests. Source(s): Strategic Planning: Many companies operate without formal plans. However, formal planning can provide many benefits: a.It encourages management to think ahead systematically. b.It forces managers to clarify objectives and policies. c.It leads to better coordination of company efforts. d.It provides clearer performance standards for control. e.It is useful for a fast-changing environment since sound planning helps the companies anticipate and respond quickly to environmental changes and sudden developments. Types of plans: There are three different types of plans that companies might use: 1.Annual plans (deals with the company鈥檚 current businesses and determine how to keep them going). 2.Long-range plans (also deals with company鈥檚 current businesses and determine how to keep them prosperous). 3.Strategic plans involve adapting the firm to take advantage of opportunities in its constantly changing environment. Strategic planning process: 鈥trategic planning is defined as the process of developing and maintaining a strategic fit between the organization鈥檚 goals and capabilities and its changing marketing opportunities. 鈥trategic planning sets the stage for the rest of the planning in the firm. Steps to the strategic planning process: 1.Defining a clear company mission. 2.Setting supporting company objectives. 3.Designing a sound business portfolio. 4.Planning and coordinating marketing and other functional strategies. |
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