Professional Documents
Culture Documents
4.1 the Role of Marketing
4.1 the Role of Marketing
Advertising
Public relations
Promotion
Smooth-talking salespeople
Glossy,‘jazzy’ media coverage
The spending of vast amounts of money
However
+ Marketing is:
A strategy or a plan for successful business
An overall focus on the customer
A total approach to running an organization and
building up business
The involvement and combination of sometimes
simple, occasionally complex decisions into
effective action
Looking outside the organization for the primary
direction
Dynamic
+
4 main objectives of marketing
Ensure that the right products are supplied to
fulfill the needs and wants of customers.
Setthe correct price so that customers can afford
to buy the product (and to ensure that they do not
buy from a rival business).
Distribute
the products to a place that is
convenient for the customer to buy the products.
Ensure that there is adequate and effective
promotion to convince customers to buy from
the business.
+
4 P’s of MARKETING
+
7 Ps of marketing (4 + 3)
Process
Physical Evidence
+
PEOPLE:
Effectivenesscan be measured in
a number of ways:
Appearance and body language (use of uniform and
formal clothing)
Aptitudes and attitudes (capability and behavior)
Feedback from various stakeholder groups provide
useful information regarding the effectiveness in
delivering good customer service
Efficiency to gain better reputation and corporate image
+
PROCESSES:
Refers to the way in which a service is provided
or delivered; it includes:
Payment methods (cash, check, etc.)
Waiting time (queuing time)
Customer service refers to degree of
attentiveness, care and politeness of staff toward
their customers.
After-sales care are services offered following
the sale of the product (installation,
maintenance, tech support, warranties)
+
PHYSICAL EVIDENCE
(ENVIRONMENT)
Can be returned if you did not like Cannot be taken back (ex. a bad
what you bought haircut)
Can be stored and consumed later Cannot be stored and will need to
be consumed immediately (ex.
There is ownership of the product your consultant’s time)
Intangibility
Inseparability
Heterogeneity
Perishability
Product strategy
Price strategy
Promotional strategy
Place strategy
Theory of Knowledge
Is it more difficult to
market a good or a
service?
There are two distinct
approaches that businesses can
use to market their products.
+ Product-Oriented Approach
Or
Market-Oriented Approach
+
Product Orientation vs.
Market (Consumer) Orientation
Product Orientation Market Orientation
Geographic
Demographic
• The e-commerce
revolution has also meant
that consumers have far
more choice than ever
before.
Competitive Rivalry
• The intensity of competition in many markets across
the world has forced marketers to adapt and evolve
their strategies.
• Competitors may initiate marketing strategies that
threaten the profitability or survival of their rivals.
• Ex. Apple and Samsung’s innovative products and
aggressive marketing strategies led to the eventual
collapse of Motorola, Nokia and Sony-Ericsson in the
mobile phone industry.
• Evolving marketing strategies can be seen as a
defensive strategy against competitors that pose a
threat to the organization’s market share and market
position.
+
Reasons why marketing strategies evolve:
Globalization
• Globalization has made businesses and countries more interdependent with
consumer tastes more integrated.
• This forced marketers to act globally.
• Ex. China has become the world’s largest consumer market for many products,
including televisions, cars, refrigerators and air conditioners. This has meant
that marketers evolve their strategies to match the local needs and wants of
Chinese consumers.
+ The role of marketing and the
CUEGIS concepts
Pages 339 - 342
Question 4.1.5
Banning Pester Power
Page 340
Question 4.1.6
Nestle offensive advertising: a
strategy:
Page 341
REVIEW TERMS
Commercial Marketing