This document contains chapter 1 from the textbook "Basic Marketing: A Global-Managerial Approach" by William D. Perreault Jr. and E. Jerome McCarthy. The chapter introduces key concepts about marketing, including:
- The definition of micro-marketing as activities to meet organizational objectives by anticipating customer needs, and macro-marketing as the social process directing economic flows to match supply and demand.
- How centralized markets and middlemen emerged to facilitate exchange as needs increased and the number of transactions grew.
- The six stages of marketing in economic development, from self-supporting agriculture to exporting manufactured goods.
- How marketing is needed to overcome discrepancies between production and consumption like differences in
This document discusses different types of targeting in marketing. There are four main types: product oriented targeting, where a firm focuses on a single product sold to multiple segments; market oriented targeting, where a firm focuses on serving multiple needs of a particular customer group; single segment targeting, where a firm focuses solely on one customer segment; and selective segment targeting, where a firm targets a few selected customer segments. The document also mentions undifferentiated targeting of the whole market with one offer versus differentiated targeting that designs customized programs for each segment.
Marketing had always been on forefront of business activities. Apparel
exports from India are facing stiff competition. Hence, a strategic approach
has to be adopted towards achieving of increased exports. An attempt has
been made to discuss some of the marketing strategies that can be adopted
by apparel exporters.
This document provides an overview and objectives of a course on global marketing management. It discusses key concepts like the meaning of marketing and global marketing. It explains the strategic concept of marketing has evolved from a product focus to a customer focus to a strategic focus considering external factors. The three principles of marketing are creating customer value, achieving competitive advantage, and concentrating on customer needs. It also discusses the transition from domestic to international to global marketing. Driving forces for international marketing include market needs, technology, and costs pressures to achieve economies of scale globally.
Marketing strategies in apparel exports an insightTapasya123
Marketing had always been on forefront of business activities. Apparel
exports from India are facing stiff competition. Hence, a strategic approach
has to be adopted towards achieving of increased exports. An attempt has
been made to discuss some of the marketing strategies that can be adopted
by apparel exporters.
This document discusses various aspects of international marketing, including reasons for companies to engage in international business, differences between domestic and international marketing, and strategies for entering foreign markets. It notes that as more economies and competitors become global, US firms are increasingly engaging in international marketing through methods like foreign manufacturing, joint ventures, licensing, and imports. Competing globally allows companies to tap new markets and enhance long-term profits, but also adds complexity from dealing with different cultures, governments, and economic conditions.
The marketing mix is a business tool used by marketers to determine a product or brand's offer. It is often associated with the four P's of marketing: product, price, promotion, and place. For services, the four P's were expanded to the seven P's to address the different nature of services. The seven P's model adds physical evidence, people, and process. The marketing mix helps marketers decide how to position products, exploit brands, and configure product lines to complement each other.
This document discusses different international marketing orientations - ethnocentric, polycentric, regiocentric, and geocentric. It provides characteristics and examples of companies that exemplify each orientation. An ethnocentric orientation focuses on exporting the home country approach without adaptation. A polycentric approach localizes marketing to each host country. A regiocentric approach groups regions with similar characteristics. A geocentric orientation seeks to be responsive globally and locally. The document cautions that standardization versus adaptation are not binary and that understanding local differences is important for international success.
This case study examines diversification strategies used by multinational corporations (MNCs). MNCs have expanded their operations in recent decades due to changing business environments. They diversify to pursue growth, manage risk, and increase profits. Common diversification strategies include entering new industries through joint ventures, mergers, and acquisitions. MNCs also diversify through related and unrelated business expansion, new product lines, and internationalizing production. Strategic analysis helps MNCs leverage opportunities and address threats in pursuing diversification.
This document discusses different types of targeting in marketing. There are four main types: product oriented targeting, where a firm focuses on a single product sold to multiple segments; market oriented targeting, where a firm focuses on serving multiple needs of a particular customer group; single segment targeting, where a firm focuses solely on one customer segment; and selective segment targeting, where a firm targets a few selected customer segments. The document also mentions undifferentiated targeting of the whole market with one offer versus differentiated targeting that designs customized programs for each segment.
Marketing had always been on forefront of business activities. Apparel
exports from India are facing stiff competition. Hence, a strategic approach
has to be adopted towards achieving of increased exports. An attempt has
been made to discuss some of the marketing strategies that can be adopted
by apparel exporters.
This document provides an overview and objectives of a course on global marketing management. It discusses key concepts like the meaning of marketing and global marketing. It explains the strategic concept of marketing has evolved from a product focus to a customer focus to a strategic focus considering external factors. The three principles of marketing are creating customer value, achieving competitive advantage, and concentrating on customer needs. It also discusses the transition from domestic to international to global marketing. Driving forces for international marketing include market needs, technology, and costs pressures to achieve economies of scale globally.
Marketing strategies in apparel exports an insightTapasya123
Marketing had always been on forefront of business activities. Apparel
exports from India are facing stiff competition. Hence, a strategic approach
has to be adopted towards achieving of increased exports. An attempt has
been made to discuss some of the marketing strategies that can be adopted
by apparel exporters.
This document discusses various aspects of international marketing, including reasons for companies to engage in international business, differences between domestic and international marketing, and strategies for entering foreign markets. It notes that as more economies and competitors become global, US firms are increasingly engaging in international marketing through methods like foreign manufacturing, joint ventures, licensing, and imports. Competing globally allows companies to tap new markets and enhance long-term profits, but also adds complexity from dealing with different cultures, governments, and economic conditions.
The marketing mix is a business tool used by marketers to determine a product or brand's offer. It is often associated with the four P's of marketing: product, price, promotion, and place. For services, the four P's were expanded to the seven P's to address the different nature of services. The seven P's model adds physical evidence, people, and process. The marketing mix helps marketers decide how to position products, exploit brands, and configure product lines to complement each other.
This document discusses different international marketing orientations - ethnocentric, polycentric, regiocentric, and geocentric. It provides characteristics and examples of companies that exemplify each orientation. An ethnocentric orientation focuses on exporting the home country approach without adaptation. A polycentric approach localizes marketing to each host country. A regiocentric approach groups regions with similar characteristics. A geocentric orientation seeks to be responsive globally and locally. The document cautions that standardization versus adaptation are not binary and that understanding local differences is important for international success.
This case study examines diversification strategies used by multinational corporations (MNCs). MNCs have expanded their operations in recent decades due to changing business environments. They diversify to pursue growth, manage risk, and increase profits. Common diversification strategies include entering new industries through joint ventures, mergers, and acquisitions. MNCs also diversify through related and unrelated business expansion, new product lines, and internationalizing production. Strategic analysis helps MNCs leverage opportunities and address threats in pursuing diversification.
Sandeep Sawant is a professional with over 27 years of experience in B2B and B2C business management, merchandising, vendor management, inventory management, strategic planning, sales management, and brand management. He is currently the Category Manager for Home Care at Reliance Retail Ltd. in Mumbai, where he manages a business of Rs. 400 Cr and has consistently delivered higher growth than other categories. Previously, he held roles such as National Sales Manager, Group Product Manager, and Product Manager at various FMCG companies. He has a MMS in Marketing and a Bachelor of Science degree.
The document introduces concepts in global marketing. It discusses how marketing has evolved from a product focus to emphasizing customer value and differentiation. It also outlines three principles of marketing: creating customer value, differentiation, and focus. Additionally, it examines management orientations in global marketing and driving and restraining forces that impact global integration and marketing.
The Marketing plays a vital role in promoting the business and mission of an organization. It serves as the face of your company, coordinating and producing all materials representing the business. It is the Marketing job to reach out to prospects, customers, investors and/or the community, while creating an overarching image that represents your company in a positive light.
There are 7 function of fashion marketing.
Global segmentation divides markets into segments that cross national borders based on common needs. Regional segmentation groups countries with similar preferences into a segment. Unique segmentation identifies segments within a single country to fully localize for products like news or specialty foods. International market segmentation follows a two-step hierarchy - macro segments of individual or groups of countries are first identified, then micro-segments within each macro segment are defined based on consumer characteristics. This allows targeting of specific sub-markets.
This document discusses global marketing management and regional market characteristics. It covers different regions around the world like Western Europe, Eastern and Central Europe, North America, Asia-Pacific, Japan, China, India, Latin America, Africa, the Middle East, and transitional/less developed countries. For each region it provides key statistics and insights into their economic profiles, marketing environments, challenges, and opportunities. It also discusses Rogers' diffusion of innovation theory and factors that affect the rate of adoption of new products.
This document outlines a marketing plan for a new clothing line called "Master life" that produces corporate suits that can also be worn for swimming. The suits are targeted towards top and middle managers who want convenience and to stay healthy. They will be custom made, premium priced between 20,000-60,000 rupees, and marketed directly through websites and emails targeting corporations. The plan projects selling 1,000 suits in year 1, 1,500 in year 2, and 2,000 in year 3, with the goal of being profitable by selling at least 800 suits in year 1.
This document summarizes the career and qualifications of Khaled Gamal Nassar. Over his 29 year career, Nassar has held several procurement and management roles, most recently as Head of Procurement at Misr Compressor Manufacturing where he oversees $250 million in annual procurement. Prior to this, he founded and led several other companies. Nassar has extensive experience in vendor relations, strategic planning, budget management, and process efficiency. He holds a B.Sc. in Social Work and various other qualifications in customs procedures, supply chain management, and logistics.
This document discusses several key marketing functions including packaging, transportation, grading, storage, processing, buying and selling, market information, and financing. It provides definitions and explanations of each function, as well as their advantages. For example, it explains that packaging protects goods, identifies brands, and reduces costs. Transportation widens markets and facilitates trade. Grading and standardization help farmers get better prices and consumers find quality products. Storage preserves goods and stabilizes prices. Processing changes raw materials into usable forms. Market information must be accurate, relevant and timely. Financing meets the capital needs of marketing agencies.
1. The document discusses new product development strategies and processes, including obtaining new product ideas, causes of failures, and an 8-step development process.
2. It also covers product life cycle stages from introduction to decline, outlining characteristics, objectives, and strategies for marketing at each stage.
3. Key aspects of the new product development process are idea generation, screening, concept development and testing, marketing strategy development, business analysis, product development, test marketing, and commercialization.
This document provides an overview of international marketing management and marketing research. It discusses key concepts such as the definition of international marketing, differences between domestic and international marketing environments, factors that drive international expansion, and levels of international marketing involvement. It also covers topics like the balance of payments, trade barriers, and the scope and process of conducting international marketing research. The document is intended to provide a framework for understanding international marketing management and how marketing research supports decision making in foreign markets.
International Marketing Management - IntroductionSOMASUNDARAM T
The document provides an overview of international marketing, defining it as marketing goods and services across national borders. It discusses the reasons companies engage in international business, the differences between domestic and international marketing, and challenges such as cultural and legal differences in foreign markets. Finally, it examines factors that have influenced the dynamic environment of international trade over time, such as globalization, trade agreements, and the shift towards more open trade policies.
The document discusses marketing functions, which are activities that link producers and consumers. There are two types of marketing functions: basic functions and facilitating functions. Basic functions include marketing research and product planning and development. Marketing research helps manufacturers understand customer habits and product popularity, while product planning determines aspects like what to make, packaging, pricing, and design. Facilitating functions support the basic functions and include buying, selling, standardization, branding, packaging, transportation, advertising, and insurance.
This document outlines various offensive and defensive business strategies. Defensive strategies include position defense, mobile defense, flanking defense, counter-offensive defense, and contraction defense, which are used to protect market share. Offensive strategies aim to improve one's own position by taking market share from competitors, and include frontal attack, flank attack, encirclement attack, bypass attack, and guerilla attack. Both offensive and defensive strategies are used to gain competitive advantages and either retain or expand a company's market position.
The marketing mix deals with how a business uses price, product, distribution, and promotion to market and sell products. It is often referred to as the "Four P's" - product, price, place (distribution), and promotion. Each element of the marketing mix affects the others and must be suitable for the target customer. For example, high quality materials can allow for a higher price, promotion in an area requires distribution there in advance, and promotion emphasizes new product features. The marketing mix puts the marketing strategy into action through specific actions from the marketing plan.
This document discusses competitive strategies for marketing management. It defines strategies and their role in gaining competitive advantages. The main competitive strategies discussed are low cost leadership, differentiation, and focus. Offensive strategies discussed include direct attacks on competitors, seeking unoccupied markets, and preemptive moves. Defensive strategies aim to reduce risks of attacks and blunt their impacts. Expanding market share involves staying number one through largest budgets and distribution. Increasing market shares involves adding value to gain share and exploiting weaknesses of leaders. Niche strategies involve leading in a small market segment to avoid direct competition.
This document contains a quiz on new product development and product lifecycle strategies. It includes multiple choice, true/false, and fill in the blank questions. The questions cover topics like the stages of new product development from idea generation to commercialization; the product lifecycle stages of introduction, growth, maturity, and decline; testing new product concepts; and developing marketing strategies over a product's lifetime.
This document provides an overview of marketing management concepts taught in a course at NUST. It introduces the lecturer and outlines topics that will be covered including the marketing mix, customer relationships, needs and satisfaction, and marketing philosophies. It also discusses rethinking the traditional 4P marketing mix model to include additional elements like people, processes, and customer value to better address current marketing challenges.
The essence of International Marketing. Most fundamentals for every company and brand wishing to expand globally. Compass to effective export strategy and global brand building.
This document provides an overview of the course "International Marketing". It introduces the key concepts that will be covered across 7 modules. The course aims to develop skills for identifying, analyzing, and solving problems in international marketing theory and practice. The modules will cover topics such as the social and cultural environment of global markets, global advertising, marketing channels and distribution, marketing information systems, segmentation, targeting, positioning, and e-marketing in an international context. The document provides a brief outline of the contents that will be included in each module.
The chapter discusses the roles of marketing in the global economy. It defines micro-marketing as activities that seek to accomplish an organization's objectives by anticipating customer needs, while macro-marketing is a social process that directs an economy's flow of goods and services to match supply and demand. Marketing facilitates production and consumption by overcoming discrepancies caused by specialization, spatial and time separation, and differences in information, values, and ownership. A well-functioning macro-marketing system includes producers, middlemen, facilitators, and consumers.
This chapter introduces marketing and explains its important roles. It defines micro-marketing as activities that seek to satisfy customer needs and macro-marketing as the social process that matches supply and demand in an economy. It discusses how marketing systems develop as economies become more commercialized and specialized. Central markets and middlemen facilitate exchange and lower transaction costs. Marketing functions overcome discrepancies between production and consumption by performing activities like buying, selling, transporting, and storing goods.
Sandeep Sawant is a professional with over 27 years of experience in B2B and B2C business management, merchandising, vendor management, inventory management, strategic planning, sales management, and brand management. He is currently the Category Manager for Home Care at Reliance Retail Ltd. in Mumbai, where he manages a business of Rs. 400 Cr and has consistently delivered higher growth than other categories. Previously, he held roles such as National Sales Manager, Group Product Manager, and Product Manager at various FMCG companies. He has a MMS in Marketing and a Bachelor of Science degree.
The document introduces concepts in global marketing. It discusses how marketing has evolved from a product focus to emphasizing customer value and differentiation. It also outlines three principles of marketing: creating customer value, differentiation, and focus. Additionally, it examines management orientations in global marketing and driving and restraining forces that impact global integration and marketing.
The Marketing plays a vital role in promoting the business and mission of an organization. It serves as the face of your company, coordinating and producing all materials representing the business. It is the Marketing job to reach out to prospects, customers, investors and/or the community, while creating an overarching image that represents your company in a positive light.
There are 7 function of fashion marketing.
Global segmentation divides markets into segments that cross national borders based on common needs. Regional segmentation groups countries with similar preferences into a segment. Unique segmentation identifies segments within a single country to fully localize for products like news or specialty foods. International market segmentation follows a two-step hierarchy - macro segments of individual or groups of countries are first identified, then micro-segments within each macro segment are defined based on consumer characteristics. This allows targeting of specific sub-markets.
This document discusses global marketing management and regional market characteristics. It covers different regions around the world like Western Europe, Eastern and Central Europe, North America, Asia-Pacific, Japan, China, India, Latin America, Africa, the Middle East, and transitional/less developed countries. For each region it provides key statistics and insights into their economic profiles, marketing environments, challenges, and opportunities. It also discusses Rogers' diffusion of innovation theory and factors that affect the rate of adoption of new products.
This document outlines a marketing plan for a new clothing line called "Master life" that produces corporate suits that can also be worn for swimming. The suits are targeted towards top and middle managers who want convenience and to stay healthy. They will be custom made, premium priced between 20,000-60,000 rupees, and marketed directly through websites and emails targeting corporations. The plan projects selling 1,000 suits in year 1, 1,500 in year 2, and 2,000 in year 3, with the goal of being profitable by selling at least 800 suits in year 1.
This document summarizes the career and qualifications of Khaled Gamal Nassar. Over his 29 year career, Nassar has held several procurement and management roles, most recently as Head of Procurement at Misr Compressor Manufacturing where he oversees $250 million in annual procurement. Prior to this, he founded and led several other companies. Nassar has extensive experience in vendor relations, strategic planning, budget management, and process efficiency. He holds a B.Sc. in Social Work and various other qualifications in customs procedures, supply chain management, and logistics.
This document discusses several key marketing functions including packaging, transportation, grading, storage, processing, buying and selling, market information, and financing. It provides definitions and explanations of each function, as well as their advantages. For example, it explains that packaging protects goods, identifies brands, and reduces costs. Transportation widens markets and facilitates trade. Grading and standardization help farmers get better prices and consumers find quality products. Storage preserves goods and stabilizes prices. Processing changes raw materials into usable forms. Market information must be accurate, relevant and timely. Financing meets the capital needs of marketing agencies.
1. The document discusses new product development strategies and processes, including obtaining new product ideas, causes of failures, and an 8-step development process.
2. It also covers product life cycle stages from introduction to decline, outlining characteristics, objectives, and strategies for marketing at each stage.
3. Key aspects of the new product development process are idea generation, screening, concept development and testing, marketing strategy development, business analysis, product development, test marketing, and commercialization.
This document provides an overview of international marketing management and marketing research. It discusses key concepts such as the definition of international marketing, differences between domestic and international marketing environments, factors that drive international expansion, and levels of international marketing involvement. It also covers topics like the balance of payments, trade barriers, and the scope and process of conducting international marketing research. The document is intended to provide a framework for understanding international marketing management and how marketing research supports decision making in foreign markets.
International Marketing Management - IntroductionSOMASUNDARAM T
The document provides an overview of international marketing, defining it as marketing goods and services across national borders. It discusses the reasons companies engage in international business, the differences between domestic and international marketing, and challenges such as cultural and legal differences in foreign markets. Finally, it examines factors that have influenced the dynamic environment of international trade over time, such as globalization, trade agreements, and the shift towards more open trade policies.
The document discusses marketing functions, which are activities that link producers and consumers. There are two types of marketing functions: basic functions and facilitating functions. Basic functions include marketing research and product planning and development. Marketing research helps manufacturers understand customer habits and product popularity, while product planning determines aspects like what to make, packaging, pricing, and design. Facilitating functions support the basic functions and include buying, selling, standardization, branding, packaging, transportation, advertising, and insurance.
This document outlines various offensive and defensive business strategies. Defensive strategies include position defense, mobile defense, flanking defense, counter-offensive defense, and contraction defense, which are used to protect market share. Offensive strategies aim to improve one's own position by taking market share from competitors, and include frontal attack, flank attack, encirclement attack, bypass attack, and guerilla attack. Both offensive and defensive strategies are used to gain competitive advantages and either retain or expand a company's market position.
The marketing mix deals with how a business uses price, product, distribution, and promotion to market and sell products. It is often referred to as the "Four P's" - product, price, place (distribution), and promotion. Each element of the marketing mix affects the others and must be suitable for the target customer. For example, high quality materials can allow for a higher price, promotion in an area requires distribution there in advance, and promotion emphasizes new product features. The marketing mix puts the marketing strategy into action through specific actions from the marketing plan.
This document discusses competitive strategies for marketing management. It defines strategies and their role in gaining competitive advantages. The main competitive strategies discussed are low cost leadership, differentiation, and focus. Offensive strategies discussed include direct attacks on competitors, seeking unoccupied markets, and preemptive moves. Defensive strategies aim to reduce risks of attacks and blunt their impacts. Expanding market share involves staying number one through largest budgets and distribution. Increasing market shares involves adding value to gain share and exploiting weaknesses of leaders. Niche strategies involve leading in a small market segment to avoid direct competition.
This document contains a quiz on new product development and product lifecycle strategies. It includes multiple choice, true/false, and fill in the blank questions. The questions cover topics like the stages of new product development from idea generation to commercialization; the product lifecycle stages of introduction, growth, maturity, and decline; testing new product concepts; and developing marketing strategies over a product's lifetime.
This document provides an overview of marketing management concepts taught in a course at NUST. It introduces the lecturer and outlines topics that will be covered including the marketing mix, customer relationships, needs and satisfaction, and marketing philosophies. It also discusses rethinking the traditional 4P marketing mix model to include additional elements like people, processes, and customer value to better address current marketing challenges.
The essence of International Marketing. Most fundamentals for every company and brand wishing to expand globally. Compass to effective export strategy and global brand building.
This document provides an overview of the course "International Marketing". It introduces the key concepts that will be covered across 7 modules. The course aims to develop skills for identifying, analyzing, and solving problems in international marketing theory and practice. The modules will cover topics such as the social and cultural environment of global markets, global advertising, marketing channels and distribution, marketing information systems, segmentation, targeting, positioning, and e-marketing in an international context. The document provides a brief outline of the contents that will be included in each module.
The chapter discusses the roles of marketing in the global economy. It defines micro-marketing as activities that seek to accomplish an organization's objectives by anticipating customer needs, while macro-marketing is a social process that directs an economy's flow of goods and services to match supply and demand. Marketing facilitates production and consumption by overcoming discrepancies caused by specialization, spatial and time separation, and differences in information, values, and ownership. A well-functioning macro-marketing system includes producers, middlemen, facilitators, and consumers.
This chapter introduces marketing and explains its important roles. It defines micro-marketing as activities that seek to satisfy customer needs and macro-marketing as the social process that matches supply and demand in an economy. It discusses how marketing systems develop as economies become more commercialized and specialized. Central markets and middlemen facilitate exchange and lower transaction costs. Marketing functions overcome discrepancies between production and consumption by performing activities like buying, selling, transporting, and storing goods.
This document provides an introduction to global marketing. It defines global marketing as marketing activities that occur in markets outside a company's home country. Global marketing focuses resources on global opportunities and threats. Key differences from regular marketing are the scope of activities, which extend beyond a single country. Reasons for companies to engage in global marketing include accessing new markets, resources, and ensuring survival against lower-cost competitors. The document outlines concepts like boundaryless marketing, standardization versus adaptation approaches, and forces driving and restraining global integration.
This document discusses the important role of marketing in the global economy. It defines micro-marketing as activities to meet an organization's objectives by anticipating customer needs, and macro-marketing as a social process that matches supply and demand in an economy to meet societal goals. Marketing is crucial as it allows for specialization, exchange of goods through middlemen to reduce transaction costs, and economic development from self-sufficient agriculture to exporting manufactured goods.
This document discusses marketing concepts including definitions of marketing, product orientation versus market orientation, and the importance of marketing. It provides:
1) Marketing is defined as managing the process of identifying, anticipating, and satisfying consumer needs profitably. It involves creating customer interest in products and building strong customer relationships.
2) A market orientation focuses on consumer needs while a product orientation emphasizes product quality. A market orientation allows companies to better anticipate changes and meet new competition.
3) Factors like economic growth, fashion changes, new technology, and competition have increased marketing's importance for business success. Effective marketing is needed to promote products in this environment.
The document provides an overview of key marketing concepts including markets, market development, strategic planning, marketing functions, and modern concepts of marketing. It defines a market, outlines the market development process and steps in strategic planning. It also describes the basic functions of marketing such as selling, buying, transportation, and financing. Finally, it discusses modern concepts like customer orientation, marketing research, and market planning.
Business & organizational customers & their buying behaviorDr. Athar Ahmed
This document outlines key concepts about business and organizational customers and their buying behavior that will be covered in the chapter. It includes objectives like understanding the problem-solving behavior of organizational buyers and different types of buyer-seller relationships. It also summarizes different types of organizational buyers like manufacturers, service producers, retailers, and governments. Additionally, it defines important terms that will be discussed like buying center, multiple buying influence, and the different types of organizational buying processes.
The document provides an overview of key concepts in global marketing. It defines global marketing and distinguishes it from regular marketing by noting global marketing focuses on opportunities and threats in markets outside a company's home country. Some key aspects covered include the importance of the global market, factors driving companies to engage in global marketing like growth and survival, and challenges in standardizing versus adapting marketing approaches for different countries and cultures. It also discusses developing a global mindset and different orientations companies can take in their approach to global versus local markets.
This document introduces marketing and discusses its evolution and key concepts. It begins by outlining common misconceptions about marketing and explaining the reality of modern marketing. Marketing is defined as the process of creating and delivering value for customers and society. The chapter then traces the evolution of marketing from a production focus to today's customer-oriented approaches. Emerging trends like increasing customer information and changing generational values are also discussed. The chapter establishes marketing as central to business success.
The document provides an introduction to the concepts of international marketing. It discusses key learning objectives, including distinguishing international from domestic marketing and understanding various management orientations. International marketing allows companies to take advantage of opportunities in foreign markets. While marketing principles are universal, application varies across countries due to unique customer, competitor, and environmental factors. Successful international marketers adopt a global mindset while locally adapting their marketing mix. The document uses several company examples to illustrate concepts like standardized vs. adapted approaches and thinking globally and acting locally.
This document provides an overview of Chapter 21 from the textbook "Marketing, 6/e" which covers personal selling and sales management. It discusses different types of personal selling like order taking and order getting. The stages of the personal selling process are outlined as prospecting, pre-approach, approach, presentation, close, and follow-up. Sales management tasks like setting objectives, organizing the sales force, and evaluating performance are also summarized. Examples are given of how salespeople create value and different relationship selling approaches.
The document discusses factors that influence international marketing communication decisions. It provides examples of how culture, language, and education can impact whether communication strategies and messages need to be standardized or adapted for different global markets. Culture is a major factor, as messages that work well domestically may be misunderstood abroad due to differences in cultural norms and traditions. Language translation errors can also undermine communication if the translated text conveys an unintended meaning. Education levels affect the appropriate tools and content, as markets with lower literacy may respond better to visual versus written messages. Standardizing communication ignores these important factors that shape customer understanding in global contexts.
This document discusses marketing strategy planning and key related concepts. It explains that marketing strategy planning involves analyzing opportunities, selecting target markets, developing marketing mixes, and creating marketing plans and programs. The goal is to increase customer equity and gain a competitive advantage through strategies like market penetration, product development, or international expansion. Key elements of the marketing mix like the four Ps are also introduced.
The document discusses advertising and sales promotion. It covers setting advertising objectives like introducing new products or positioning brands. It also discusses choosing media types, planning messages, and measuring effectiveness. For sales promotion, it outlines positives like immediate results or growth but also negatives like eroding brand loyalty or being hard to manage. Key terms covered include things like institutional advertising, product advertising types, advertising allowances, and cooperative advertising.
The document discusses key concepts in marketing including:
1) Marketing involves creating, communicating, and delivering value to customers and managing customer relationships in a way that benefits the organization.
2) Marketers must make decisions around product, price, place, and promotion to satisfy customer needs and capture value.
3) Marketing impacts stakeholders inside and outside organizations and helps create value for customers.
This document provides an overview of the life and career of a professional salesperson. It defines selling as the personal communication of information to unselfishly persuade others to buy something that satisfies their needs. The core principles of professional selling are to unselfishly serve buyers while also representing the interests of the selling organization. The 10 steps of the sales process are outlined, including prospecting, planning, approaching customers, presenting, handling objections, closing the sale, and following up. The document emphasizes that successful salespeople demonstrate knowledge of customers' needs and altruism through caring for others.
Ferrero is an Italian confectionery company that started in 1946. It now has an 8% global market share and $10.6 billion in annual revenue. The document discusses Ferrero's history of expansion from Italy to Europe. It also outlines the company's marketing mix of product, price, place, and promotion. Ferrero's core values of customer loyalty, social responsibility, and integrity are emphasized. The text concludes with questions about investing in hazelnut farms and using new technology to market products.
This document provides an overview of key concepts in marketing, including:
1. It defines marketing and discusses its nature and scope, including understanding customer needs and behaviors.
2. It outlines different philosophies of marketing management like the production, product, selling, and marketing concepts.
3. It compares selling and marketing, discussing how marketing has a broader focus on customer satisfaction versus quick sales.
4. It also covers the evolution of marketing, elements of the marketing mix, and importance and functions of marketing.
This document discusses the key concepts and tasks of marketing. It defines marketing and examines its importance and scope. Some fundamental concepts discussed include needs and wants, segmentation, branding, and the marketing mix of product, price, place and promotion. The document also explores how marketing has changed with trends like globalization, technology and empowered consumers. It outlines the main tasks for successful marketing as developing strategies, understanding customers, building brands, and communicating value to create long-term growth.
The document discusses the 4Ps of marketing - product, price, promotion, and place. It defines each P and provides examples. For product, it describes tangible and intangible products and the product life cycle. For price, it defines price and factors that influence pricing decisions. For promotion, it outlines advertising, public relations, and sales promotion methods. For place, it describes distribution strategies and the role of marketing channels in demand stimulation and value delivery.
Zodiac Signs and Food Preferences_ What Your Sign Says About Your Tastemy Pandit
Know what your zodiac sign says about your taste in food! Explore how the 12 zodiac signs influence your culinary preferences with insights from MyPandit. Dive into astrology and flavors!
How to Implement a Strategy: Transform Your Strategy with BSC Designer's Comp...Aleksey Savkin
The Strategy Implementation System offers a structured approach to translating stakeholder needs into actionable strategies using high-level and low-level scorecards. It involves stakeholder analysis, strategy decomposition, adoption of strategic frameworks like Balanced Scorecard or OKR, and alignment of goals, initiatives, and KPIs.
Key Components:
- Stakeholder Analysis
- Strategy Decomposition
- Adoption of Business Frameworks
- Goal Setting
- Initiatives and Action Plans
- KPIs and Performance Metrics
- Learning and Adaptation
- Alignment and Cascading of Scorecards
Benefits:
- Systematic strategy formulation and execution.
- Framework flexibility and automation.
- Enhanced alignment and strategic focus across the organization.
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Building Your Employer Brand with Social MediaLuanWise
Presented at The Global HR Summit, 6th June 2024
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Part 2 Deep Dive: Navigating the 2024 Slowdownjeffkluth1
Introduction
The global retail industry has weathered numerous storms, with the financial crisis of 2008 serving as a poignant reminder of the sector's resilience and adaptability. However, as we navigate the complex landscape of 2024, retailers face a unique set of challenges that demand innovative strategies and a fundamental shift in mindset. This white paper contrasts the impact of the 2008 recession on the retail sector with the current headwinds retailers are grappling with, while offering a comprehensive roadmap for success in this new paradigm.
This slide relates to the material on pp. 8-11 and Overhead 2. The next two slides provide bullet points related to the issues discussed below. Summary Overview The text points out the existence of, and sometimes conflict between, both a micro (individual company) level of marketing and a macro (society as a whole) level of marketing. The key point is that marketing includes both perspectives. Most of the text focuses on micro-marketing--the managerial perspective--as this is the level most students encounter everyday and in their careers. But decisions made at this level must be aware of the influences, opportunities, and constraints of the macro-level of marketing, both domestically and in international settings. So the first chapter focuses on macro-marketing. Micro-Marketing Micro-marketing is the performance of activities that seek to accomplish an organization’s objectives by anticipating customer or client needs and directing a flow of need-satisfying goods and services from producer to customer or client. Key elements include: Applies to profit and nonprofit organizations. Goes beyond just persuading customers to buy. Begins with customer needs. Marketing only one of many key management functions. Builds a relationship with the customer. Macro-Marketing Macro-marketing is a social process that directs an economy’s flow of goods and services from producers to consumers in a way that effectively matches supply and demand and accomplishes the objectives of society. Key elements include: Identifying the kind of macro-marketing system in place Assessing its effectiveness and fairness (recognizing that "fair" is culturally determined)
This slide relates to the material on pp. 5-6 and corresponds to Exhibit 1-1 on p. 6 and Transparency 1. Summary Overview Utility is the power to satisfy human needs. All aspects of business are focused to either create utility or support specialists who do. The five types of utility illustrated on the slide underscore the importance of different functional areas (production and marketing) working together to create utility. Types of Utility Created by Production with Guidance from Marketing Form . Form utility is provided when someone produces something tangible. Task . Task utility is provided when someone performs a task for someone else. Teaching Tip: You may want to link form to goods and task to services on the product-type continuum here. Types of Utility Created by Marketing Time . Time utility involves providing goods and services when consumers want them. Place . Place utility involves providing goods and services where consumers want them. Example: A convenience store offers 24 hour shopping (time utility), close to home (place utility). Possession . Possession utility involves having ownership (possession) or the right to use and/or consume a good or service. Teaching Tip: Time and Place utility create a convenience for consumers. Possession can also create convenience but may have symbolic dimensions as well. Example: The possession of a Mercedes-Benz may make the owner feel good about her accomplishments, and ultimately, herself.
This slide relates to the material on pp. 14-17 and corresponds to Exhibit 1-2a on p. 16 and Transparency 2. Summary Overview It is important for students to realize that marketing does in fact “make something.” It’s just that our “something” is often intangible or at least not as visible (like a distribution system) to the customer as the product on the shelf. In mature economies, “something” includes product information, research, need-based changes, convenience, and a host other value-added activities often taken for granted. But more fundamentally, marketing is the vehicle by which all economies evolve Key Concepts of Macro-Marketing Systems Development Pure Subsistence Economy . Under this system, every family produces all they need. No exchanges occur and no macro-marketing system exists. Markets . When families begin to produce more than they need of some things and develop new needs or wants for things they do not produce, the concept of a market evolves. Initially, the family simply trades, or barters, some of their excess items for the excess items offered by another family. Later, a central market develops where the families go to barter more conveniently. Middlemen . Central markets still take time. Among the first macro-marketing system elements to emerge is the middleman - a person who specializes in trade rather than production. Because of the expertise of this person, a “something” is added to the exchange process. More formally, by bringing buyers and sellers (or traders) together more efficiently, middlemen (intermediaries) contribute time and place utility. Monetary System . Very quickly now, people realize the need to standardize trade. Bartering takes a lot of time and limits exchanges to specific product forms for both buyer and seller. The introduction of money allows the middleman to expand services, create inventories, and offer inducements for even greater choice in the central market.
Summary Overview It is important for students to realize that marketing does in fact “make something.” It’s just that our “something” is often intangible or at least not as visible (like a distribution system) to the customer as the product on the shelf. In mature economies, “something” includes product information, research, need-based changes, convenience, and a host other value-added activities often taken for granted. But more fundamentally, marketing is the vehicle by which all economies evolve since even the need for monetary exchange is based upon the needs of the middlemen to simplify the exchange process illustrated here. Key Concepts of Macro-Marketing Systems Development Pure SubsistenceEconomy . Under this system, every family produces all they need. No exchanges occur and no macro-marketing system exists. Markets . When families begin to produce more than they need of some things and develop new needs or wants for things they do not produce, the concept of a market evolves. Initially, the family simply trades, or barters, some of their excess items for the excess items offered by another family. Later, a central market develops where the families go to barter more conveniently. Middlemen . Central markets still take time. Among the first macro-marketing system elements to emerge is the middleman - a person who specializes in trade rather than production. Because of the expertise of this person, a “something” is added to the exchange process. More formally, by bringing buyers and sellers (or traders) together more efficiently, middlemen (intermediaries) contribute time and place utility. Monetary System . Very quickly now, people realize the need to standardize trade. Bartering takes a lot of time and limits exchanges to specific product forms for both buyer and seller. The introduction of money allows the middleman to expand services, create inventories, and offer inducements for even greater choice in the central market. This slide relates to the material on pp. 14-17 and corresponds to Exhibit 1-2b on p. 16 and Transparency 2.
Summary Overview It is important for students to realize that marketing does in fact “make something.” It’s just that our “something” is often intangible or at least not as visible (like a distribution system) to the customer as the product on the shelf. In mature economies, “something” includes product information, research, need-based changes, convenience, and a host other value-added activities often taken for granted. But more fundamentally, marketing is the vehicle by which all economies evolve since even the need for monetary exchange is based upon the needs of the middlemen to simplify the exchange process illustrated here. Key Concepts of Macro-Marketing Systems Development Pure SubsistenceEconomy . Under this system, every family produces all they need. No exchanges occur and no macro-marketing system exists. Markets . When families begin to produce more than they need of some things and develop new needs or wants for things they do not produce, the concept of a market evolves. Initially, the family simply trades, or barters, some of their excess items for the excess items offered by another family. Later, a central market develops where the families go to barter more conveniently. Middlemen . Central markets still take time. Among the first macro-marketing system elements to emerge is the middleman - a person who specializes in trade rather than production. Because of the expertise of this person, a “something” is added to the exchange process. More formally, by bringing buyers and sellers (or traders) together more efficiently, middlemen (intermediaries) contribute time and place utility. Monetary System . Very quickly now, people realize the need to standardize trade. Bartering takes a lot of time and limits exchanges to specific product forms for both buyer and seller. The introduction of money allows the middleman to expand services, create inventories, and offer inducements for even greater choice in the central market. This slide relates to the material on pp. 14-17 and corresponds to Exhibit 1-2 on p. 16 and Transparency 2. There are several slides that build up to this slide
This slide relates to the material on pp. 18-20 and Overhead 5. Summary Overview Just as the emergence of central markets, middlemen, and money mark changes in macro-marketing systems, the stage of economic development a society is going through provides insights concerning marketing functions appropriate for meeting the needs of consumers at that stage. Stages of Economic Development Stage 1 - Self-supporting agriculture . Here most people are subsistence farmers, growing only what they need. Markets typically do not exist. Stage 2 - Preindustrial or commercial . Market activities emerge as raw materials are exported for sale. Imports include equipment and skills needed to process exports. Money system develops but may be unrelated to subsistence agriculture system in place. Stage 3 - Primary manufacturing . Here at least some of the raw materials of the host country are processed prior to export. Use of local labor, even by a foreign firm, expands consumer income and creates demand for more kinds of goods. Stage 4 - Nondurable and semidurable consumer products manufacturing . Here more small producers start to make items for sale to the growing market base of workers from stage 3. Stage 5 - Capital equipment and consumer durable products manufacturing . Here the shift to an industrial economy begins as local producers make cars and other durable goods. Dependence is still on raw material exports but consumer demand is increasing as more rural dwellers enter the industrial labor force and incomes grow. Stage 6 - Exporting manufactured products . Here the country both produces finished products for domestic consumption and exports manufactured goods to other countries for sale.
This slide relates to the material on pp. 22-24 and corresponds to Exhibit 1-3 on p. 23 and Transparency 3. See also Overheads 7 and 8. Summary Overview Marketing is needed to overcome the difference between how production is set up to be most efficient and how people in general prefer to consume products. How Marketing Facilitates Production and Consumption Low Cost . As production increases, the cost of each good produced decreases. Marketing helps companies move in this direction by finding a larger number of outlets for products than would likely occur if the company had no marketing effort. Linking Production to Consumption . Because consumers’ needs and patterns of consumption differ greatly from how production facilities operate most effectively, marketing activities create more efficient links between consumers and producers than can be achieved without marketing. Universal Functions . The “how” and “by whom” aspects of marketing vary by economic systems, customs, and individual industries. But the universal marketing functions that must occur can be identified. These are covered in greater detail on the following slide. Facilitators . These are firms that provide one or more of the marketing functions other than buying and selling. They include advertising agencies, marketing research firms, independent product-testing laboratories, Internet service providers, transporting firms, to name a few.
This slide relates to the material on pp. 24-26 and corresponds to Exhibit 1-4 on p. 25 and Transparency 6. See also Transparency 4. Summary Overview The universal marketing functions shown here help the macro-marketing system overcome separations and discrepancies between those wishing to participate in an exchange. How a particular country or culture fulfills these functions varies widely, but all the functions are needed in any macro-marketing system. Key Marketing Functions Buying . This involves looking for and evaluating goods and services. Selling . This involves promoting the product to prospective buyers. Transporting . This involves moving the goods from place to place. Teaching Tip: This creates time and place utility for consumers but isn’t always remembered as a marketing activity. Critics who say marketing only raises the cost of goods typically don’t think about the transport function as part of marketing. Storing . This involves holding an inventory of goods until needed by customers. Standardization and grading . This involves sorting products by size and quality. Financing . This involves providing necessary cash and credit to produce, transport, store, promote, sell, and buy products. Risk taking . This involves assuming responsibility for uncertainties. Teaching tip: The willingness to take risks is a fundamental component of capitalism. Critics of business in general and marketing in particular, seeing a hugely profitable enterprise often forget that before profits are taken, marketers spend a lot of money that they might lose if the product is not adopted. Market information function . This involves the collection, analysis, and distribution of all the information the marketer needs to plan, implement, and control need-satisfying marketing activities.