Assign 1767 Sem 1
ASSIGNMENT FOR FIRST SEMESTER
(Should be minimum 4-5 pages)
1. How will you consider Marketing as an overall business Philosophy?
Marketing as a business philosophy
Marketing is sometimes seen as a rather confusing phenomenon, drawing its theories from a disparate number of sources. The main source of confusion is the combination of marketing as a philosophy of business and marketing practice. These are two separate, yet interrelated, areas: 1 a basic way of thinking about business that focuses on customers’ needs and wants; 2 a functional area of management that uses a set of techniques. Peter Doyle (1994) explains: ‘The Marketing Concept is not a theory of marketing but a philosophy of business. It affirms that the key to meeting the objectives of stakeholders is to satisfy customers. In competitive markets this means that success goes to those firms that are best at meeting the needs of customers.’ To look at marketing as an business philosophy is to take a holistic view of the discipline.
This approach is explained by Peter Drucker (1954): ‘Marketing is not only much broader than selling; indeed, it is not a specialised activity at all. It encompasses the entire business. It is the whole business seen from the point of view of its final result, that is, from the customer’s point of view. Concern and responsibility for marketing must, therefore, permeate all areas of the enterprise.’ Marketing Philosophy 15 Human resources director Production director Sales representatives 1, 2, 3, 4 etc Regional manager area A Sales representatives 1, 2, 3, 4, etc Regional manager area B Field sales manager Advertising manager Manager brand/ product A Manager brand/ product B Product group manager Marketing research manager Marketing director Financial director Managing director Figure 1.4 Typical organisation of a marketing-orientated firm MOFM-01.qxd 5/4/05 5:49 PM Page 15 Marketing cannot exist in a vacuum. An integrated approach is needed, not just the creation of
(Should be minimum 4-5 pages)
1. How will you consider Marketing as an overall business Philosophy?
Marketing as a business philosophy
Marketing is sometimes seen as a rather confusing phenomenon, drawing its theories from a disparate number of sources. The main source of confusion is the combination of marketing as a philosophy of business and marketing practice. These are two separate, yet interrelated, areas: 1 a basic way of thinking about business that focuses on customers’ needs and wants; 2 a functional area of management that uses a set of techniques. Peter Doyle (1994) explains: ‘The Marketing Concept is not a theory of marketing but a philosophy of business. It affirms that the key to meeting the objectives of stakeholders is to satisfy customers. In competitive markets this means that success goes to those firms that are best at meeting the needs of customers.’ To look at marketing as an business philosophy is to take a holistic view of the discipline.
This approach is explained by Peter Drucker (1954): ‘Marketing is not only much broader than selling; indeed, it is not a specialised activity at all. It encompasses the entire business. It is the whole business seen from the point of view of its final result, that is, from the customer’s point of view. Concern and responsibility for marketing must, therefore, permeate all areas of the enterprise.’ Marketing Philosophy 15 Human resources director Production director Sales representatives 1, 2, 3, 4 etc Regional manager area A Sales representatives 1, 2, 3, 4, etc Regional manager area B Field sales manager Advertising manager Manager brand/ product A Manager brand/ product B Product group manager Marketing research manager Marketing director Financial director Managing director Figure 1.4 Typical organisation of a marketing-orientated firm MOFM-01.qxd 5/4/05 5:49 PM Page 15 Marketing cannot exist in a vacuum. An integrated approach is needed, not just the creation of