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    This document outlines 8 approaches to modern marketing: commodity, institutional, functional, managerial, societal, economic, legal, and systems. The commodity approach studies marketing based on goods/services classifications. The institutional approach examines organizations involved in marketing. The functional approach analyzes specialized marketing activities and functions. The managerial approach views marketing as decision-making. The societal approach focuses on customer needs/satisfaction while preserving societal well-being. The economic approach sees marketing as an economic activity. The legal approach considers rules/regulations. The systems approach treats marketing as one part of a larger business system.

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    Approaches to Marketing

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    This document outlines 8 approaches to modern marketing: commodity, institutional, functional, managerial, societal, economic, legal, and systems. The commodity approach studies marketing based on goods/services classifications. The institutional approach examines organizations involved in marketing. The functional approach analyzes specialized marketing activities and functions. The managerial approach views marketing as decision-making. The societal approach focuses on customer needs/satisfaction while preserving societal well-being. The economic approach sees marketing as an economic activity. The legal approach considers rules/regulations. The systems approach treats marketing as one part of a larger business system.

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    26 views10 pages

    Approaches To Marketing

    Uploaded by

    postvijay
    This document outlines 8 approaches to modern marketing: commodity, institutional, functional, managerial, societal, economic, legal, and systems. The commodity approach studies marketing based on goods/services classifications. The institutional approach examines organizations involved in marketing. The functional approach analyzes specialized marketing activities and functions. The managerial approach views marketing as decision-making. The societal approach focuses on customer needs/satisfaction while preserving societal well-being. The economic approach sees marketing as an economic activity. The legal approach considers rules/regulations. The systems approach treats marketing as one part of a larger business system.

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    of 10

    Approaches to

    Modern Marketing
    Dr. Sunil Doke
    Approaches to Modern Marketing
    Commodity approach
    Institutional approach
    Functional approach
    Managerial approach
    Societal approach
    Economic approach
    Legal approach
    Systems approach
    Commodity approach

    ⚫ Study of marketing is taken on the basis of


    various commodities.
    ⚫ All goods and services are classified under
    different heads and suitable marketing
    program is suggested.
    Institutional approach

    ⚫ Study of various institutions engaged in


    marketing activities is undertaken.
    ⚫ This includes wholesaler retailer brokers
    warehousing institutions……
    ⚫ The analysis includes operational techniques
    of business.
    Functional approach

    ⚫ Marketing functions are highly specialized


    activity performed in the market.
    ⚫ It analyses all specialized activities for
    performing marketing activity.
    ⚫ Changes in marketing structure are analyzed
    and marketing activities are developed.
    ⚫ This approach helps us in examining the
    efficiency and effectiveness of all functions.
    Managerial approach
    ⚫ It is called as decision making approach.
    ⚫ It is based upon fact that marketing as a
    managerial function and environmental
    factors are having direct & indirect control on
    it.
    ⚫ Controllable and uncontrollable
    ⚫ This approach is basically concerned with the
    application side of marketing problems.
    Societal approach
    ⚫ Determination of needs, wants and interests
    of the target market and to deliver the desired
    satisfaction more effectively and efficiently
    than competitors in a way that preserves or
    enhances the customers or society’s well
    being.
    Economic approach
    ⚫ Marketing as an economic activity.
    ⚫ Model of modern Economy

    Money Money
    Resources Market Resources
    Resources
    Services Taxes
    Services Services
    Manufacturer's Government Consumer’s
    Market Taxes Market
    Market
    Taxes
    Taxes Services
    Goods & Goods &
    Middlemen's
    Services Market Services

    Money Money
    System approach
    ⚫ This is advancement of managerial approach
    ⚫ Under this marketing is small part of firm
    which act as sub system of entire business
    activity
    ⚫ 5 elements are there Objectives, Inputs,
    Processing, Output, Feedback…..
    ⚫ This provides logical analysis of marketing
    activities.
    ⚫ It is helpful for marketing control with market
    information system.
    Assignment
    ⚫ Identify and discuss various approaches
    made by marketers in providing the
    commodities, goods, products and services in
    modern marketing environment.

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