E-BOOK: SUMMARY

MADE BY GROUP 1
marketing ii About Team Table of Content Content

foreword
Praise to Allah SWT for all His blessings so that this e-book can be
compiled to completion. We do not forget to say thank you for the
help of those who have contributed by contributing both thoughts
and materials.
We hoped that this paper can add knowledge and experience to
readers. In fact, we hope that this paper can be practiced by
readers in everyday life.

For us as authors, we feel that there are still many shortcomings in

the preparation of this e-book due to our limited knowledge and
experience. For that we really expect constructive criticism and
suggestions from readers for the perfection of this paper.

Semarang, May 30, 2022

marketing ii About Team Table of Content Content

group members:

m. akbar ramali m. alvaro rizqi m. fadhlan umar risyad fahri azra vaneza tadzkia r
12010120190125 12010120190079 12010120190127 12010120190074 12010120190089
marketing ii About Team Table of Content Content

1. Foreword...........................................................................2
2. Group Members...................................................................3
3. Table of Content.................................................................4
4. Resource Advantage Theory of Competition................................5

table of
5. Service Dominant Logic.......................................................14
6. Consumer Culture Theory.....................................................22

content 7. Self-congruence Theory......................................................29

8. Agency Theory...................................................................37
9. Entrepreneur Theory...........................................................44
1 0 .G o a l S e t t i n g T h e o r y . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 2
1 1 .E x p e r i e n t i a l M a r k e t i n g . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 0
1 2 .R e l a t i o n s h i p M a r k e t i n g . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 8
1 3 .G r e e n M a r k e t i n g . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 6
1 4 .H o s p i t a l i t y m a r k e t i n g . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 5
1 5 .C l o s i n g . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 2
marketing ii
Resource Advantage
Theory of Competition
This study discusses how Wroe Alderson
market process theory is informed by his
differential advantage theory of
competition. It then shows how resource-
advantage (R-A) theory incorporates
and extends Alderson's major
conceptions and expansions. As a result,
we believe R.A theory is a first step
toward a more comprehensive theory.
About Team Table of Content Content
SCENARIO STRATEGY EXAMPLE IF THIS THEORY
IMPLICATED IN ONE BUSINESS SECTOR:
For making resource of the firm as the foundation
for its long term strategy rests upon two premises:
first, internal resources provide the basic direction
for a firm’s strategy, second, resources are the
primary source of profit for the firm.
The ability to maximize productivity is important in
terms of tangible resources such as plant and
machinery, finance, and people. this may involve
using lower resources to support the same level of
business, or using the existing resources to support
larger volume of business. the example of the
success in aggressive acquisitions is ConAgra in
the us and Hanson in the UK, its based on expertise
in trimming the financial, physical and human
assets (resources) that needed to support the
business volume in the acquired company.
marketing ii About Team Table of Content Content

Examples of models in (marketing, human

resources, operations, finance, strategic.)
R-A theory stresses the importance of
(1) market segments,
(2) heterogeneous firm resources,
(3) comparative advantages and disadvantages in resources, and
(4) market- place positions of competitive advantage or disadvantage. Market segments are defined as intra-industry
groups of consumers whose tastes and preferences with regard to an industry’s output are relatively homogeneous.

Resources can be categorized as

financial (e.g., cash resources, access to financial markets),
physical (e.g., plant, equipment),
legal (e.g., trademarks, licenses),
human (e.g., the skills and knowledge of individual employees),
organizational (e.g., competences, controls, policies, cul- ture),
informational (e.g., knowledge from consumer and competitive intelligence), and,
relational (e.g., relationships with suppliers and customers).
marketing ii About Team Table of Content Content

implementation in practices and research

According to R-A theory, resources are "the physical and intangible things accessible to the business that enable it to provide
efficiently and/or effectively a market offering of value to some market segment or segments."
In practice, intangible resources (such as connections, culture, and entrepreneurial talents) offer the opportunity to create
value and gain a competitive edge. In order to avoid competitors replicating or purchasing the resources, resources should be
primarily intangible.
For example, an organization should obtain intangible resources such as close-knit relationships among employees OR a
strong team culture (which can be achieved by learning employees' personal goals, creating shared experiences outside of
work, and ensuring that each employee receives the mentoring that is appropriate for them). A close working connection may
boost productivity and loyalty, which can be difficult to replicate. As a result, it has the ability to produce value and gain a
competitive edge, which will eventually convert into greater financial performance.

The theory may be used to study by offering explanations for the underlying causes or impacts of observed events.
Consider the following journal study: "Salespeople's innovativeness: a driver of sales performance" by Ferdinand, A. T., and
Wahyuningsih, W. (2018).
The research states that "value-based selling capacity favorably improves sales performance," and it is clear that RAToC is
used in this study. Because, according to the RAToC, anything intangible, like as a salesperson's ability to persuade a
consumer of the monetary value of a product, is difficult to replicate. As a result, it has the ability to provide value, gain a
competitive edge, and eventually improve sales performance.
marketing ii About Team Table of Content Content

R-Theory maintains that firms

that are successful in developing
market offerings that provide
more value to consumers in
specific market segments and/or
provide market offerings at a
lower cost (relative to their
competitors) will occupy
marketplace positions of
competitive advantage.
marketing ii About Team Table of Content Content
marketing ii About Team Table of Content Content
marketing ii About Team Table of Content Content
marketing ii About Team Table of Content Content
marketing ii About Team Table of Content Content
 marketing ii About Team Table of Content Content

Service Dominant Logic

The service-dominant logic has developed into a key perspective in marketing research since its introduction in 2004 (Vargo and Lusch,
2004, 2016). Service-dominant logic builds on a number of fundamental premises and assumptions. This logic assumes that services
are fundamental units of exchange, in which specialized skills are applied in the customer’s context. Customers are defined as co-
producers of value, and firms need to create value propositions through customer relations. service-dominant logic has developed as a
consequence of the formation and development of the field of marketing, where service marketing, business-to-business marketing
and relationship marketing are important antecedent research traditions.

Goods- and service-dominant logics can be understood based on the six main dimensions on which they differ (Vargo and Lusch, 2008,
p. 258):
1. making something versus enabling value creation for customers;
2. producing versus co-producing value;
3. customers as isolated versus integrated entities;
4. direct transformation of resources versus indirect application of resources such as knowledge to enable value creation;
5. customers as targets versus resources; and
6. focusing on efficiency to enable the best use of a given product or service by customers versus effectiveness in terms of co-creating
the most relevant value with customers.
marketing ii About Team Table of Content Content

Goods- and service-dominant logics can be understood based on the six main dimensions on which they differ (Vargo
and Lusch, 2008, p. 258):
1. making something versus enabling value creation for customers;
2. producing versus co-producing value;
3. customers as isolated versus integrated entities;
4. direct transformation of resources versus indirect application of resources such as knowledge to enable value
creation;
5. customers as targets versus resources; and
6. focusing on efficiency to enable the best use of a given product or service by customers versus effectiveness in terms
of co-creating the most relevant value with customers.
marketing ii About Team Table of Content Content

implementation in practices and research

According to the SDL's founding principles, "the client is always a co-creator of value." Co-creation refers to how a
product or firm collaborates with consumers or stakeholders to maximize the product's value or output.
For example, consider the laptop, a device that provides several benefits to its customers. Laptops are utilized by users
every day to make everything more effective and detailed, such as note taking, faster writing and editing, and easier
group work and study. Note taking may be done manually using paper and pencil as well, but laptops make it easier
and faster for everyone. While utilizing a laptop, we must produce a co-creation or contribution. Having hard abilities
such as Photoshop and Microsoft Office will help us to increase the worth of the laptop.

Co-creation can be used to execute the principle in research. When a firm includes its consumers in the development
process in order to obtain ideas and insights that will help the company to launch a new product or upgrade an existing
one with a higher value. Customers are prepared to vote for the items that they believe are most suited to the markets,
allowing them to succeed on the market.
Example: Unilever offers a large pool of customers from which to get ideas and answers to product development
challenges, with operations in 190 countries and goods utilized by over 2.5 billion people on a daily basis. Unilever
aggressively seeks product solutions from its client base, soliciting ideas and proposals from entrepreneurs,
researchers, designers, and customers. Unilever's Open Innovation platform, which was created in 2010, poses
particular problems to the public, inviting individuals to submit ideas for possible adoption by the corporation.
marketing ii About Team Table of Content Content
marketing ii About Team Table of Content Content
marketing ii About Team Table of Content Content
marketing ii About Team Table of Content Content
marketing ii About Team Table of Content Content
marketing ii About Team Table of Content Content

Consumer Culture Theory

According to the 2005 formulation, CCT is a field of inquiry that seeks
to unravel the complexities of consumer culture. The CCT view of
culture differs dramatically from the conventional consumer research
representation of “culture as a fairly homogeneous system of
collectively shared meanings, ways of life, and unifying values shared
by a member of society (e.g., Americans share this kind of culture;
Japanese share that kind of culture)” (Arnould and Thompson, 2005,
pp. 868–869). CCT work has notably paid attention to the negotiation
of ideological influences of globalisation processes (Arsel &
Thompson, 2004; Kjeldgaard & Askegaard, 2006) as well as localised
systems of meaning, not least within branded servicescapes. In these
ways, CCT has contributed to the long-standing marketing debates,
including the standardisation or localization of marketing and
communication strategies.
marketing ii About Team Table of Content Content

implementation in practices and research

CCT provides a brand for academics and practitioners engaged in "actual consumer behavior" (Wells, 1991, p. iii). It
attempts to restore "the thrill of discovery" to such study while maintaining a "seriousness of goal" [Ibid].
In 2005, Arnould and Thompson introduced the term "CCT" to include a "flurry of research addressing the social,
experiential, symbolic, and ideological dimensions of consumption" (Arnould and Thompson, 2005, p. 868). Arnould
and Thompson (2005) concentrated on providing a collection of ideas and study topics that may be utilized to better
understand consumption. They also worked to debunk illusions about the authenticity of interpretative consumer
research, dubbed "strange science" (Bradshaw and Brown, 2008, p. 1400).

Apple works hard to make technology easy to use. This is part of the culture they established, and it will result in the
most streamlined products in a straightforward and accurate packaging. When you first open the iPhone box, you'll see
a really intelligent package design that is robust, elegant, and simple.
The phone is the major attraction, positioned front and center, while the accessories are neatly housed in a separate
compartment. The minimalist design responds to the demands of the overall minimalist cultural trend, which includes
individuals who buy tiny houses, keep them neat, and simplify everything in their life.
 marketing ii
Consumer Culture Theory
Four heuristic research programs useful in outlining and
classifying CCT-oriented work were suggested, which I will
briefly describe in the following. Common threads in these
programs were both their orientation towards addressing
similar kinds of questions and dynamics in consumer
culture
phenomena – so called “family resemblances” between
related studies – but also how these programs resonate
with broader interdisciplinary interests and conversations
(Arnould & Thompson, 2018).
Consumer Identity Projects
Marketplace culture
Socio Historic Patterning of Consumption
Mass-mediated marketplace, ideologies, and
consumer's interpretative strategies
About Team Table of Content Content
According to customer culture theory (CCT) we can
targeting consumers with certain personality
characteristics, while targeting consumers with
certain personality characteristics can be complex,
psychographic segmentation is employed by many
marketers, and in some instances, it may be possible
to identify and match appropriate advertising formats
and media outlets to consumers with these
characteristics. For example, the results for hope
suggest that advertising featuring an optimistic
outlook due to the use of the brand may help global
marketers capture attention from those high in CCT.
According to McKinsey & Co, Japanese consumers
spend approximately $33bn each year on luxury
goods, which accounts for 30–40 percent of some
global brands’ profits
marketing ii About Team Table of Content Content
marketing ii About Team Table of Content Content
marketing ii About Team Table of Content Content
marketing ii About Team Table of Content Content
marketing ii About Team Table of Content Content

Self-congruence
theory

WHAT IS IT? IMPLEMENTATION IN RESEARCH

Self-congruity is a psychological process and
outcome in which consumers compare their
perception of a brand image (more specifically,
brand personality or brand-user
image) with their own self-concept (e.g. actual self,
ideal self, social self). Self-congruence is defined
as “the extent to which a consumer perceives a
brand similar to his or her self-concept”. To express
their self-concept, consumers have self-verification
and self-enhancement motives.
There was a study from China that gives an important glimpse into the
highly important correlation between celebrity endorser type and an
individual's self- concept. Specifically, a Chinese endorser appeals more
to a Chinese consumer's actual self, while a Western endorser has a
greater appeal towards the consumer's ideal-self. Moreover, the findings
indicated that it is possible to impact a brand's evaluations by altering the
endorser type based on brand type. That is, functional brands are better
presented by Chinese endorsers while symbolic brands are better
presented by Western endorsers. The significance of this research lies in
the important considerations that must be made in regards to the types of
brands that are endorsed through celebrity promotion. For instance, if
consumers consider your brand to be prestigious, it would be prudent for a
marketer to then ensure Western celebrity endorsement for the product, as
to encourage Chinese consumer attitudes and lead to stronger purchase
intention.
marketing ii About Team Table of Content Content

implementation in practices and research

In practice, business nowadays has to pay attention to not only functional factors, but also symbolic
factors when consumer is considering to buy their products. For example, many people choose Apple
as their main electronic device due to the symbolic factor. It is seen as more exclusive in comparison to
other brand such as Samsung, even though the functionality of 2 products are not that different.

A research was conducted regarding this theory by Xiajing Zhu and Lianne Foti. The study highlights
the correlation between celebrity endorsery type and an individual’s self-concept. The study finds that
Chinese endorser appeals more to a Chinese consumer's actual self, while a Western endorser has a
greater appeal towards the consumer's ideal-self. Moreover, the findings indicated that it is possible to
impact a brand's evaluations by altering the endorser type based on brand type. That is, functional
brands are better presented by Chinese endorsers while symbolic brands are better presented by
Western endorsers.
marketing ii About Team Table of Content Content

ELEMENTS OF SCT

Stable Element: consists of personality

characteristics that are relatively
generalizable across situations -> self-
concept or Global self.

Malleable Element: a subset of the stable

self-concept activated by social
circumstances -> the situational-self.
marketing ii About Team Table of Content Content
marketing ii About Team Table of Content Content
marketing ii About Team Table of Content Content
marketing ii About Team Table of Content Content
marketing ii About Team Table of Content Content
marketing ii About Team Table of Content Content

Agency theory, which was first introduced by Stephen Ross

and Barry Mitnick in 1973. Agency theory illustrates supply
chain relationships and points out implications for
companies, it is also capable of providing information to

Agency theory companies on how to implement and design supply chain

relationships. Agency theory is a useful tool for managers
to diagnose and segregate their relationship portfolios,
understand, and mitigate behavioral uncertainty. This
theory provides valuable insights into the relationships in
the supply chain. In the studies analyzed, the dynamics of
performance, risk, sustainability, dyadic and inter-firm
relationships, and supplier management are predominant.
marketing ii About Team Table of Content Content

Theory Implementation:

1. The agency theory is based on the assumption that both principals and agents are rational economic-
maximizing individuals. This does not hold for the entrepreneur or the informal venture capitalist. Studies
have shown that entrepreneurs are often driven by other than purely economical motives. Also, studies of
informal venture capitalists in the US and the UK show that they do not always see the monetary rewards as
the most essential.
2. The agency theory assumes that the principal building control mechanism is to prevent opportunistic
behavior from the agent, which implies a “negative” relationship between the principal and agent. The
relationship between the venture capitalist and entrepreneur usually has a more “positive” character,
where the interaction is based on support and mutual trust. In many cases, the control mechanism
functions as a dysfunctional factor with lowering trust between the venture capitalist and entrepreneur,
which impedes open communication, etc.
3. The agency theory assumes that there is an information asymmetry between the principal and agent which
facilitates the agent’s opportunistic behavior. The negotiations between the venture capitalist and
entrepreneur, and the personal relationship between them can result in less information asymmetries and
less opportunistic behavior, and therefore substitute monitoring solutions.
marketing ii About Team Table of Content Content

The main element of the Agency Theory is based on the assumption that
individuals are individualistic, opportunistic, and self-serving. Under this
assumption, the relationship between the shareholders as the principals
(owner of corporate assets) and the manager as the agent is a standard
“principal-agent” relationship in which all parties act to maximize
personal interests; this process determines agency conflicts/costs.
marketing ii About Team Table of Content Content
marketing ii About Team Table of Content Content
marketing ii About Team Table of Content Content
marketing ii About Team Table of Content Content
marketing ii About Team Table of Content Content

Entrepreneurial
Marketing theory

Entrepreneurial Marketing is a marketing Entrepreneurial marketing can be used by

process that includes business planning,
identifying the needs and wants of
consumers, building brand awareness,
designing a compelling message to promote
the product, and maintaining customer
relationships.
any small business owner looking to market
their product or service. Since this type of
marketing does not require as much capital
as other types, it is well-suited for
entrepreneurs with a limited operating
budget.
marketing ii About Team Table of Content Content

Proactive Orientation

6 Characteristic Innovativeness

of Entrepreunrial Focus on the Customer

marketing Utilizing an Opportunity

Risk Management

Value Creation
marketing ii About Team Table of Content Content

Application OF
Entrepreneurial
marketing
Entrepreneurial marketing is best defined by the
types of companies that use it. A new company
and emerging companies use entrepreneurial
marketing to help establish themselves in
emerging industries. Growth is the main purpose of
entrepreneurship, and marketing is the main
means for growth.

For example, an online store that sell their product

like t-shirt, can make their brand awareness by
offering free, easy returns. By use this innovative
service in their marketing, they can approach and
get the loyal customers who were unsure about
buying shoes they could not try on.
marketing ii About Team Table of Content Content
marketing ii About Team Table of Content Content
marketing ii About Team Table of Content Content
marketing ii About Team Table of Content Content
marketing ii About Team Table of Content Content
marketing ii
Goal Setting theory
what?
Goal-setting theory is a
theory based on the idea that
setting specific and
measurable goals is more
effective than setting
unclear goals. Edwin A. Locke
developedthis theory in 1968
in his article, "Toward a
Theory of Task Motivation
and Incentive.”
In simple words, goals
indicate and give direction to
an employee about what
needs to be done and how
much efforts are required to
be put in.
About Team Table of Content Content
Strategy scenario Principles
Creating clear, focused, and 1. Clarity : A clear goal is one
attainable goals is one aspect that can be measured and
of business goal-setting leaves no room for
theory. A small business misunderstanding. Goals
owner may not be able to should be very explicit
achieve a goal of $100,000 in regarding what behavior is
profits in a single year. A clear desired and will be
and targeted goal might be to rewarded.
make $70,000 in earnings 2. Commitment : In order for
from product sales of $30,000, goals to be effective, they
investments of $10,000, and need to be agreed upon.
service sales of $30,000. The goal should be in line
Whether it's a monthly plan with the general,
with mini-goals or a weekly established expectations
plan for short-term goals, that you have had for the
each goal must have a plan to employee in the past.
attain it.
marketing ii About Team Table of Content Content

Advantages & disadvantages Of GSt

Advantages:
Disadvantages:

Goal-setting can increase employee engagement

If there are difficult goals that management and
within the workplace.
the company are trying to accomplish,
This theory provides a clear guideline as to how to
performance may fall due to incompatible
set and achieve goals in an effective way.
actions.
Goal-setting improves employee performance by
Goals that are too far above an employee's skills
increasing efforts and overall motivation.
and competencies can have a negative effect on
Goal-setting allows for constructive feedback on
the employee's performance and motivation to
a regular basis so employees are constantly
complete the goal.
improving.
More complex and difficult goals may lead to risky
Goal-setting and accomplishing goals provide
behavior in an attempt to accomplish the goals in
employees with an overall sense of
a timely manner.
accomplishment which can boost morale and
workplace satisfaction.
 marketing ii About Team Table of Content Content

Theory application & Practices

The practical reason that prompted the development of conventional goal setting theory was “to explain why some people worked harder than
others or performed better than others on a task independently of their ability and knowledge”.
Conventional goal setting theory and research focusses primarily on task performance (e.g. optimal efficiency, productivity) that lends itself to
being measured in quantifiable terms. Although goal setting theory focusses primarily on individual task performance, the theory has been
applied at multiple levels of the organization.
A core assertion of conventional goal setting theory is that performance is optimized when goals are: difficult (rather than easy), and specific-
and-measurable. Theoretically, these attributes focus cognitive resources and stimulate motivation to decrease the dissonance created from the
explicit gap between current and expected (goal) performance.
marketing ii About Team Table of Content Content
marketing ii About Team Table of Content Content
marketing ii About Team Table of Content Content
marketing ii About Team Table of Content Content
marketing ii About Team Table of Content Content

Harrington, J. and McCaskill, J. (2022), "Does goal setting matter? The impact of employee-level and organizational-level goal properties on
public employees' perception of performance appraisal fairness", International Journal of Public Sector Management, Vol. 35 No. 2, pp. 133-149.
marketing ii About Team Table of Content Content

Experiential Marketing is a marketing strategy that make a customer have

an interest with the brand company via uniques experiences. These efforts
may take several forms—as digital or live marketing. Experiental marketing
can be a good branding for company that want to leave a strong impression
on customers.

Experiential
marketing
marketing ii About Team Table of Content Content

implementation in practices and

research
Due to its originality and complexity, experiential marketing for online consumers is of interest to both scholars
and practitioners. This strategy has the potential to offer multiple commercial opportunities and long-term
customer retention. In particular, researchers focused on topics such as online consumer behavior, factors that
influence the online shopping experience, how to create an online shopping experience, and the importance of
experiential marketing in online shopping. In contrast, very few scholars have studied experiential marketing
with an emphasis on long-term consumer relationships. As Ballantine pointed out earlier, the massive research
interest in this area of ​online experiential marketing is not surprising. "Because the success of e-commerce
systems lies in the widespread adoption of such technologies by consumers," each online retailer is an overall
customer measure of how e-business meets customer expectations. Satisfaction level. Therefore, it is important
to conduct more empirical research to understand many forms of customer purchasing behavior, attitudes and
perceptions in this evolving digital environment.
 marketing ii About Team Table of Content Content

Feeling – What will it feel like to use your product or EXAMPLES:

service?

GLOBETROTTER: WEATHER ROOMS
Sensing – How do customers physically sense your Often the key to experiential marketing is in letting customers see and
product? use your product for themselves. The European sporting equipment

company, the Globetrotter, made sure its shopper could do this in their
Thinking – How obvious can you make the benefits of experiential marketing campaign.
your product through demonstration? Can you hint at Decked out in Globetrotter gear, shoppers stepped into rain chambers
an untapped ocean of potential behind the short that doused them with water and simulated harsh winds. This campaign
demo? is built on a feature of Globetrotter stores, which encourages users to try

on and test Globetrotter gear.
Acting – Changes in behavior can be highly
motivational and empowering. What behaviours will In fact, many of their stores have a freezing chamber.
For Globetrotter, this campaign generated a few benefits, from the word-
your product help to facilitate?
of-mouth stirred up by the event to purchases from visiting shoppers that

tested the gear and loved it, making this a valuable experience for all.
Relating – How does your product or service link the
customer to others, to things or even to a projection
This event makes the customer experience one of the elements of
of their future self?
experiential marketing that are feel experience by having them use the
product.
marketing ii About Team Table of Content Content
marketing ii About Team Table of Content Content
marketing ii About Team Table of Content Content
marketing ii About Team Table of Content Content
marketing ii About Team Table of Content Content

SRINIVASAN, S. R., & SRIVASTAVA, R. K. (2010). CREATING THE FUTURISTIC RETAIL EXPERIENCE THROUGH EXPERIENTIAL MARKETING: IS IT
POSSIBLE? AN EXPLORATORY STUDY. JOURNAL OF RETAIL & LEISURE PROPERTY, 9(3), 193–199. HTTPS://DOI.ORG/10.1057/RLP.2010.12
 marketing ii About Team Table of Content Content

Relationship
marketing
Relationship marketing is a form of marketing
developed from direct response marketing

Experiential
campaigns that emphasizes customer retention
and satisfaction rather than sales transactions. A

marketing
good relationship-marketing strategy is rooted in
building customer loyalty and lasting, long-term
engagement with your customer base.
Relationship marketing helps retain customers over
the long term, which results in customer loyalty
rather than customers purchase once or
infrequently.
marketing ii About Team Table of Content Content

how to apply
theory in practice
and in research

Managers could train employees in how to attract potential customers using personal networks, and then
create lasting organizational bonds by building trusting relationships, communicating effectively and seeking
to solve customers’ problems in a timely manner. The importance of recruiting employees with social skills is
also highlighted, along with the benefits of training staff in showing empathy with customers, particularly
when handling problems, as this can strengthen organizational relationships. And fo the suppliers nowadays
they can seek seek to build closer relationships through opportunities provided by technological
breakthroughs, changes in industry logics and changes in customer preferences and lifestyles
Nurturing the customer is a step along the path to invoking loyalty on the part of the customer. Loyalty is one
of the objectives of relationship marketing because a loyal customer may be of strategic advantage to an
organization,
marketing ii About Team Table of Content Content

Benefits of Relationship Marketing

Higher customer lifetime value (CLV). Relationship marketing creates loyal
customers, which leads to repeat purchases and a higher CLV. In addition, loyal
customers are likely to become brand advocates or ambassadors,
recommending products and services to friends, family and business
associates.
Reduction in marketing and advertising spend. Spending on marketing and
advertising to acquire new customers can be expensive. Relationship marketing
causes customers to do the marketing for a brand, in what’s called buzz
marketing. Customers tell others about a brand’s products and services, which
can drive sales. Brands with exceptional relationship marketing programs
spend little to no money on marketing or advertising.
Stronger organizational alignment around the customer. Organizations that
emphasize relationship marketing have a stronger organizational alignment
around an exceptional customer experience. The teams work together to create
satisfied and happy customers over the long term.
marketing ii About Team Table of Content Content
marketing ii About Team Table of Content Content
marketing ii About Team Table of Content Content
marketing ii About Team Table of Content Content
marketing ii About Team Table of Content Content
marketing ii About Team Table of Content Content

Green marketing

what is it?
Green marketing is defined as actions directed to all consumers, and it includes a broad
range of marketing activities (e.g. planning, process, production, promotion and people)
designed to demonstrate the firm’s goal of minimizing the environmental impact of its
products and services (Groening et al., 2018). Green marketing is also described as an
effort to minimize disturbing effects of business activities on the environment by installing
a new course of green concept through designing, producing, packaging, labelling and
consuming eco-friendly products (Rahman et al., 2017).
marketing ii About Team Table of Content Content

The Green Price : Green pricing takes into consideration the people, planet and profit in a way that takes care of the
health of employees and communities and ensures efficient productivity. Value can be added to it by changing its
appearance, functionality and through customization, etc ( mo h a n a s u n d a r a m, 2 0 1 2 , S h i l , 2 0 1 2 ) . T h e p r i c
e o f environmental friendly products is in some cases higher than the prices of the ordinary alternatives. A higher price
compared to the ordinary alternative can be determining factor for some consumers, verifying the accurateness of the
products green features. Others do not consider the price at all but choose the environmental friendly alternative
(Solvalier, 2010).

Experiential
The Green Place : Green place is about managing logistics to cut down on transportation emissions, thereby in effect
aiming at reducing the carbon footprint( Shil, 2012), This is related to distribution gates use that deal with green

marketing
products, which are appropriate for consumers, in terms of facilitating their delivery, and to secure cycling procedures
conducting within environmental conditions and r e q u i r e me n t s ( H a s h e m a n d A l - R i f a i , 2 0 1 1 ) .
The Green Promotion : The objective of green advertisements is to influence consumers’ purchase behavior by
encouraging themto buy products that do not harm the environment and to direct their attention to the positive
consequences of their purchase behavior, for themselves as well as the environment (Rahbar and Abdul Wahid, 2011).
Green advertising is defined as any advertising that explicitly or implicitly addresses the relationship between a
product/service and the biophysical environment, promotes a green lifestyle with or without highlighting a
products/service and presents a corporate image of environmental responsibility (Samarasinghe, 2012).
marketing ii About Team Table of Content Content

implementation in practices and

research
Many companies are doing their best to meet the needs of consumers and are starting to manufacture their products in
response to their global citizenship responsibilities. Green marketing has a positive impact on people's health and the
environment. From packaging to public relations, this type of marketing covers every aspect of your business.
109

The Green Price : Green pricing takes into consideration the people, planet and profit in a way that takes care of the
health of employees and communities and ensures efficient productivity. Value can be added to it by changing its
appearance, functionality and through customization, etc ( mo h a n a s u n d a r a m, 2 0 1 2 , S h i l , 2 0 1 2 ) . T h e p r i c
e o f environmental friendly products is in some cases higher than the prices of the ordinary alternatives. A higher price
compared to the ordinary alternative can be determining factor for some consumers, verifying the accurateness of the
products green features. Others do not consider the price at all but choose the environmental friendly alternative
(Solvalier, 2010).
marketing ii About Team Table of Content Content

Benefits of Green Marketing

1.Organizations perceives environmental marketing
to be an opportunity that can be used to achieve its
objectives (Polonsky, 1994).
2. Organizations believe they have a moral
obligation to be more socially responsible.
Governmental bodies are forcing firms to become
more responsible.
3. Competitors' environmental activities pressure
firms to change their environmental marketing
activities. (Gupta et al, 2014, Singh,2010).
4. Governmental bodies are forcing firms to become
more responsible.
5. Cost factors associated with waste disposal, or
reductions in material usage forces firms to modify
their behavior (Sharma, 2011).
marketing ii About Team Table of Content Content

(Troudi, H. and Bouyoucef, D. (2020), "Predicting purchasing behavior of green food in Algerian context", EuroMed
Journal of Business, Vol. 15 No. 1, pp. 1-21. https://doi-org.proxy.undip.ac.id/10.1108/EMJB-03-2019-0046)
marketing ii About Team Table of Content Content
marketing ii About Team Table of Content Content
marketing ii About Team Table of Content Content
marketing ii About Team Table of Content Content

(Martins, A. (2022), "Green marketing and perceived SME profitability: the

meditating effect of green purchase behaviour", Management of Environmental
Quality, Vol. 33 No. 2, pp. 281-299. https://doi-org.proxy.undip.ac.id/10.1108/MEQ-
04-2021-0074)
marketing ii About Team Table of Content Content

Hospitality
marketing

Hospitality marketing is the act of marketing Elements

hospitality business to the public. The goal is to raise
awareness of the business, products and/or services, Content Marketing
usually by highlighting unique selling points (USPs). It Personalization
is the process for getting a company's product or Overall Guest Experience
service out to consumers. Hospitality marketing takes Ratings and Reviews
a look at how segments of the hospitality industry,
such as hotels, restaurants, resorts and amusement
parks, utilize marketing techniques to promote their
products or services.
marketing ii About Team Table of Content Content

Approach in hospitality:

Hospitality was further defined by Pizam and Shani (2009) as four

approaches:

1. professionalism;
2. hospitableness;
3. hospitality as an experience; and
4. hospitality as a philosophy.

Professionalism focuses on understanding skills, attitudes and personal

characteristics of hospitality employees. Hospitableness refers to friendly
service that emphasizes welcoming behaviour toward the customer.
Incorporating performance elements such as acting into customer service
leads to hospitality as an experience. Fourth, hospitality philosophy
emphasizes kind service and generosity.
marketing ii About Team Table of Content Content
marketing ii About Team Table of Content Content
marketing ii About Team Table of Content Content
marketing ii About Team Table of Content Content
marketing ii About Team Table of Content Content
Rimberio Co About Menu Portfolio Team Contact

closing
From the discussion and explanation in the chapters
above, then it can be concluded that marketing has so
many interesting theories that we can use so we could
make our companies/organizations profit from them.
Starting from Resource Advantage Theory of
Competition, Service Dominant Logic, Consumer
Culture Theory, Self-congruence Theory, Agency
Theory, Goal Setting Theory, Experiential Marketing,
Relationship Marketing, Green Marketing, and
Hospitality marketing.

That is all from our group, we hope our readers could

dissect the theories and implement them on their
companies/organizations.

REGARDS, GROUP 1