Hanjunglee
CHAPTER 1: Marketing and Strategy: An Introduction
Development of the Marketing concept * Production orientation: focus on reducing cost and increasing efficiency * Product orientation: focus on quality and product features. * Selling orientation: use of aggressive and sometimes devious sales techniques. * Marketing: focus on defining what customers want, and arranging corporate activities so that customers are satisfied.
Antecedents of marketing * Economics: The study of supply and demand * Sociology: The study of group behaviour * Psychology: The study of thought processes * Anthropology: The study of culture * Corporate strategy: The study of industrial competition and positioning
Scope of Marketing * Consumer marketing * Industrial marketing * Service marketing * Not-for-profit marketing * Small business marketing * International marketing
Basic Marketing Concepts: Marketing Defined * Marketing is an organisational function and a set of business processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organisation and its stakeholders. (AMA 2005) * Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. (AMA 2007)
Basic Marketing Concepts: What is Market ? * Market * A collection of buyers and sellers; a group of individuals or institutions that have similar needs that can be met by a particular product * Marketspace * Electronic marketplace that are not bound by time or space such as Amazon, eBay * Metamarket * A cluster of closely related goods and services that center around a specific consumption activity. For example one product demand on another product such as cars consists of petrol, wheel, battery * Metamediary *
Development of the Marketing concept * Production orientation: focus on reducing cost and increasing efficiency * Product orientation: focus on quality and product features. * Selling orientation: use of aggressive and sometimes devious sales techniques. * Marketing: focus on defining what customers want, and arranging corporate activities so that customers are satisfied.
Antecedents of marketing * Economics: The study of supply and demand * Sociology: The study of group behaviour * Psychology: The study of thought processes * Anthropology: The study of culture * Corporate strategy: The study of industrial competition and positioning
Scope of Marketing * Consumer marketing * Industrial marketing * Service marketing * Not-for-profit marketing * Small business marketing * International marketing
Basic Marketing Concepts: Marketing Defined * Marketing is an organisational function and a set of business processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organisation and its stakeholders. (AMA 2005) * Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. (AMA 2007)
Basic Marketing Concepts: What is Market ? * Market * A collection of buyers and sellers; a group of individuals or institutions that have similar needs that can be met by a particular product * Marketspace * Electronic marketplace that are not bound by time or space such as Amazon, eBay * Metamarket * A cluster of closely related goods and services that center around a specific consumption activity. For example one product demand on another product such as cars consists of petrol, wheel, battery * Metamediary *