The document discusses the key tasks and concepts of modern marketing management. It defines marketing as creating and delivering value for customers, and marketing management as choosing target markets and growing customer relationships through superior value. Some fundamental concepts discussed include customer needs and wants, market segmentation, branding, and the marketing mix of product, price, place, and promotion. The document also notes how marketing has evolved in recent decades with a new focus on integrated marketing, relationship building, and delivering customer value through digital technologies and globalization.
The document defines marketing as creating, communicating, and delivering value for customers and society. It defines marketing management as choosing target markets and growing customers through superior value. It discusses the scope of what can be marketed, types of markets and demand, and core marketing concepts. It also covers how marketing has changed with new technologies, the roles in marketing management, and key tasks in marketing.
The document defines marketing as creating, communicating, and delivering value for customers and society. It defines marketing management as choosing target markets and growing customers through superior value. It discusses the scope of marketing, including what can be marketed and who is involved. It also covers fundamental marketing concepts like segmentation, branding, and the marketing environment. Finally, it discusses how marketing has changed in recent years due to technology, globalization, and the need to differentiate products.
The document defines marketing as creating, communicating, and delivering value for customers and society. It defines marketing management as choosing target markets and growing customers through superior value. It discusses the scope of marketing, including what can be marketed and who is involved. It also covers fundamental marketing concepts like segmentation, branding, and the marketing environment. Finally, it discusses how marketing has changed in recent years due to technology, globalization, and the need to differentiate products.
The document defines marketing as creating, communicating, and delivering value for customers and society. It defines marketing management as choosing target markets and growing customers through superior value. It discusses the scope of marketing, including what can be marketed and who is involved. It also covers fundamental marketing concepts like segmentation, branding, and the marketing environment. Finally, it discusses how marketing has changed in recent decades due to technology, globalization, and the need to differentiate products.
The document defines marketing as creating, communicating, and delivering value for customers and society. It defines marketing management as choosing target markets and growing customers through superior value. It discusses the scope of what can be marketed, types of markets and demand, and core marketing concepts. It also covers how marketing has changed with new technologies, the roles in marketing management, and key tasks for successful marketing.
This document outlines key concepts in marketing management from a textbook. It defines marketing as creating, communicating, delivering, and exchanging offers of value for customers and society. Marketing management is choosing target markets and gaining, keeping, and growing customers through superior customer value. The document discusses the scope and tasks of marketing, including the marketing mix, internal marketing, and performance marketing. It also explains how marketing has evolved with a new focus on people, processes, programs, and performance.
The document discusses strategic marketing and key marketing concepts. It defines strategic marketing as identifying customer needs and creating a marketing plan to achieve customer satisfaction, improve company performance, and increase profits. The marketing plan outlines the types of marketing programs a company will use and how to implement them. The document also discusses core marketing concepts like the marketing mix, customer value, needs and wants, and different marketing philosophies.
The document defines marketing as creating, communicating, and delivering value for customers and society. It defines marketing management as choosing target markets and growing customers through superior value. It discusses the scope of what can be marketed, types of markets and demand, and core marketing concepts. It also covers how marketing has changed with new technologies, the roles in marketing management, and key tasks in marketing.
The document defines marketing as creating, communicating, and delivering value for customers and society. It defines marketing management as choosing target markets and growing customers through superior value. It discusses the scope of marketing, including what can be marketed and who is involved. It also covers fundamental marketing concepts like segmentation, branding, and the marketing environment. Finally, it discusses how marketing has changed in recent years due to technology, globalization, and the need to differentiate products.
The document defines marketing as creating, communicating, and delivering value for customers and society. It defines marketing management as choosing target markets and growing customers through superior value. It discusses the scope of marketing, including what can be marketed and who is involved. It also covers fundamental marketing concepts like segmentation, branding, and the marketing environment. Finally, it discusses how marketing has changed in recent years due to technology, globalization, and the need to differentiate products.
The document defines marketing as creating, communicating, and delivering value for customers and society. It defines marketing management as choosing target markets and growing customers through superior value. It discusses the scope of marketing, including what can be marketed and who is involved. It also covers fundamental marketing concepts like segmentation, branding, and the marketing environment. Finally, it discusses how marketing has changed in recent decades due to technology, globalization, and the need to differentiate products.
The document defines marketing as creating, communicating, and delivering value for customers and society. It defines marketing management as choosing target markets and growing customers through superior value. It discusses the scope of what can be marketed, types of markets and demand, and core marketing concepts. It also covers how marketing has changed with new technologies, the roles in marketing management, and key tasks for successful marketing.
This document outlines key concepts in marketing management from a textbook. It defines marketing as creating, communicating, delivering, and exchanging offers of value for customers and society. Marketing management is choosing target markets and gaining, keeping, and growing customers through superior customer value. The document discusses the scope and tasks of marketing, including the marketing mix, internal marketing, and performance marketing. It also explains how marketing has evolved with a new focus on people, processes, programs, and performance.
The document discusses strategic marketing and key marketing concepts. It defines strategic marketing as identifying customer needs and creating a marketing plan to achieve customer satisfaction, improve company performance, and increase profits. The marketing plan outlines the types of marketing programs a company will use and how to implement them. The document also discusses core marketing concepts like the marketing mix, customer value, needs and wants, and different marketing philosophies.
This document discusses strategic planning and marketing plans. It covers developing a corporate mission and defining strategic business units. Key parts of strategic planning include assessing growth opportunities, conducting SWOT analyses, and formulating goals and strategies. The document also outlines what should be included in marketing plans, such as a situation analysis, marketing strategy, and financial projections. It emphasizes that strong leadership is needed for feedback and control in strategic planning.
The document is a slide presentation on developing marketing strategies and plans. It discusses strategic planning at different organizational levels, from corporate to business unit level. It covers developing the corporate mission and assessing growth opportunities. It also discusses the key components of a marketing plan, including strategic and tactical levels, and covers situation analysis, marketing strategy, financial projections, and implementation controls.
The document outlines the new product development process, including generating ideas, screening ideas, concept development, concept testing, marketing strategy development, business analysis, product development, market testing, and commercialization. The goal is to introduce new market offerings by taking ideas through each stage of the process to evaluate feasibility and customer demand before full commercialization.
This document discusses various mass communication tools used in marketing, including advertising, sales promotions, events, and public relations. It covers topics like developing advertising programs and objectives, deciding budgets, media types, sales promotion tools, event and experience objectives, sponsorship decisions, and the functions of public relations. The overall purpose is to provide an overview of how companies can use different mass communication approaches to promote their brands and products.
The document defines marketing and marketing management. It discusses the scope of what can be marketed and introduces a simple marketing system model. It also covers fundamental marketing concepts like customer needs and wants, target markets, branding, value and satisfaction. Additionally, it discusses the marketing environment, different company orientations, and the tasks involved in marketing management.
Chapter 12.pptholistic marketing for the long runirynmwangi3
The document discusses trends, practices, and tools in marketing management. It addresses keys to effective internal marketing like organizing marketing departments and fostering creativity. Socially responsible marketing is covered, including sustainability, ethics, cause-related marketing, and how millennials consider social commitments. Marketing implementation, control, and audits are summarized as strategic processes to monitor and improve marketing activities.
Marketing is defined as creating and delivering value for customers. It involves managing customer relationships and benefiting both the organization and its stakeholders. Marketing management is the process of choosing target markets and attracting, retaining and growing customers through superior customer value. It covers developing strategies and plans, gaining customer insights, connecting with customers, building brands, shaping offerings, delivering value, communicating value, and creating long-term growth. The key concepts in marketing include needs, targeting, segmentation, offerings, value, channels, competition and the marketing environment.
The document discusses marketing channels and channel management. It defines marketing channels as sets of interdependent organizations that make a product available for use. It notes key channel participants include intermediaries, merchants, agents, and facilitators. It also discusses the importance of push and pull strategies in channels, multichannel marketing, channel functions and flows, channel levels, the number of intermediaries, and e-commerce and m-commerce marketing practices.
The document discusses strategic planning and marketing plans. It covers developing marketing strategies at different organizational levels, from corporate strategic planning down to business unit and product planning. Key aspects of strategic planning discussed include defining the corporate mission and strategic business units, assessing growth opportunities, and developing goals and strategies. The document also addresses the components and levels of a formal marketing plan.
This document discusses creating long-term loyalty relationships with customers. It covers customer value, satisfaction and loyalty, and how companies can deliver them. It also discusses maximizing customer lifetime value, cultivating strong customer relationships through customer relationship management, and using customer databases and database marketing. The key aspects covered are determining customer perceived value, measuring customer satisfaction, analyzing customer profitability, personalizing marketing, and retaining high value customers.
Marketing is defined as creating value for customers and managing customer relationships. It involves understanding customer needs and delivering products and services to satisfy those needs. Marketing management has evolved from a focus on production and selling to a more customer-centric approach of building relationships and delivering value and satisfaction. Successful marketing management requires developing strategies and plans, understanding customers, building brands, shaping offerings, communicating value, and creating long-term growth.
This document provides an overview of key concepts in marketing from a textbook. It discusses what marketing is, how companies create value for customers to build relationships. It also covers understanding customer needs and selecting target customers. Companies must design marketing strategies and programs around a marketing mix to deliver value to customers. Building loyalty and satisfaction is key to capturing long-term value from customers over their lifetime as a customer.
First seminar of my Managing Marketing Processes course in the Masters of General Management Program at the Stockholm School of Economics in Sweden: http://www.hhs.se/EDUCATION/MSC/MSCGM/Pages/default.aspx
This document summarizes the first chapter of a marketing textbook. It introduces fundamental marketing concepts such as the importance of marketing, its scope, and how marketing management has changed. It also summarizes the chapter's key questions about defining marketing, the tasks of marketing management, and how marketing differs in the Arab world. Overall, the document provides an overview of introductory marketing topics covered in the first chapter.
The document discusses the key concepts and tasks of marketing management. It defines marketing as creating, communicating, delivering, and exchanging offers that have value for customers. Marketing management is choosing target markets and growing customer value. The scope of marketing is a societal process where individuals obtain needs and wants through exchange. Marketers must decide on product features, prices, distribution channels, and promotional spending. The core tasks of marketing management include developing strategies, understanding customers, building brands, delivering value, communicating value, and creating long-term growth.
This document provides an overview of key concepts in marketing from a textbook. It discusses definitions of marketing, understanding customer needs and marketplace dynamics, designing customer-driven marketing strategies including market segmentation and targeting, and different orientations to marketing management such as production, product, selling, and marketing concepts. It also outlines ten "deadly sins" and ten best practices of effective marketing.
This document is the first chapter of a marketing textbook. It provides objectives for the chapter, which include understanding marketing's role in organizations, the concept of marketing, and how marketing provides value. It also discusses scenarios for companies like Pandora and First Flavor to illustrate marketing concepts. The chapter covers topics like the evolution of marketing approaches, what can be marketed, and perspectives on how marketing creates value for customers, producers and society.
This document discusses customer value, satisfaction, and loyalty. It defines these concepts and explains how companies can deliver value to customers to increase satisfaction and loyalty. It also discusses how companies can maximize customer lifetime value through relationship marketing, database marketing, and retaining profitable customers. The key is understanding customers, delivering value through products and services, monitoring satisfaction, and cultivating long-term customer relationships.
This document provides an overview of marketing concepts. It defines marketing as a process of creating value for customers to build relationships and capture value in return. It discusses understanding customer needs and how companies can design marketing strategies and programs to satisfy those needs. It also covers building customer relationships, managing partnerships, and capturing long-term value from customers through loyalty and equity. The overall goal of marketing is to pull all these elements together to best serve target customers.
The document appears to be a template for creating presentations with customizable sections and titles. It contains mostly blank sections that can be clicked on to add content. There are templates for icons, charts, steps in a process, and timelines. The overall structure provides a way to quickly generate presentations using predefined layouts and sections.
The document is a template for a PowerPoint presentation that contains mostly blank content placeholders labeled "Click here to add content that matches the title." The template includes instructions to insert subtitles and content into the placeholders. It is organized into four parts that each have multiple content sections that can be filled out.
This document discusses strategic planning and marketing plans. It covers developing a corporate mission and defining strategic business units. Key parts of strategic planning include assessing growth opportunities, conducting SWOT analyses, and formulating goals and strategies. The document also outlines what should be included in marketing plans, such as a situation analysis, marketing strategy, and financial projections. It emphasizes that strong leadership is needed for feedback and control in strategic planning.
The document is a slide presentation on developing marketing strategies and plans. It discusses strategic planning at different organizational levels, from corporate to business unit level. It covers developing the corporate mission and assessing growth opportunities. It also discusses the key components of a marketing plan, including strategic and tactical levels, and covers situation analysis, marketing strategy, financial projections, and implementation controls.
The document outlines the new product development process, including generating ideas, screening ideas, concept development, concept testing, marketing strategy development, business analysis, product development, market testing, and commercialization. The goal is to introduce new market offerings by taking ideas through each stage of the process to evaluate feasibility and customer demand before full commercialization.
This document discusses various mass communication tools used in marketing, including advertising, sales promotions, events, and public relations. It covers topics like developing advertising programs and objectives, deciding budgets, media types, sales promotion tools, event and experience objectives, sponsorship decisions, and the functions of public relations. The overall purpose is to provide an overview of how companies can use different mass communication approaches to promote their brands and products.
The document defines marketing and marketing management. It discusses the scope of what can be marketed and introduces a simple marketing system model. It also covers fundamental marketing concepts like customer needs and wants, target markets, branding, value and satisfaction. Additionally, it discusses the marketing environment, different company orientations, and the tasks involved in marketing management.
Chapter 12.pptholistic marketing for the long runirynmwangi3
The document discusses trends, practices, and tools in marketing management. It addresses keys to effective internal marketing like organizing marketing departments and fostering creativity. Socially responsible marketing is covered, including sustainability, ethics, cause-related marketing, and how millennials consider social commitments. Marketing implementation, control, and audits are summarized as strategic processes to monitor and improve marketing activities.
Marketing is defined as creating and delivering value for customers. It involves managing customer relationships and benefiting both the organization and its stakeholders. Marketing management is the process of choosing target markets and attracting, retaining and growing customers through superior customer value. It covers developing strategies and plans, gaining customer insights, connecting with customers, building brands, shaping offerings, delivering value, communicating value, and creating long-term growth. The key concepts in marketing include needs, targeting, segmentation, offerings, value, channels, competition and the marketing environment.
The document discusses marketing channels and channel management. It defines marketing channels as sets of interdependent organizations that make a product available for use. It notes key channel participants include intermediaries, merchants, agents, and facilitators. It also discusses the importance of push and pull strategies in channels, multichannel marketing, channel functions and flows, channel levels, the number of intermediaries, and e-commerce and m-commerce marketing practices.
The document discusses strategic planning and marketing plans. It covers developing marketing strategies at different organizational levels, from corporate strategic planning down to business unit and product planning. Key aspects of strategic planning discussed include defining the corporate mission and strategic business units, assessing growth opportunities, and developing goals and strategies. The document also addresses the components and levels of a formal marketing plan.
This document discusses creating long-term loyalty relationships with customers. It covers customer value, satisfaction and loyalty, and how companies can deliver them. It also discusses maximizing customer lifetime value, cultivating strong customer relationships through customer relationship management, and using customer databases and database marketing. The key aspects covered are determining customer perceived value, measuring customer satisfaction, analyzing customer profitability, personalizing marketing, and retaining high value customers.
Marketing is defined as creating value for customers and managing customer relationships. It involves understanding customer needs and delivering products and services to satisfy those needs. Marketing management has evolved from a focus on production and selling to a more customer-centric approach of building relationships and delivering value and satisfaction. Successful marketing management requires developing strategies and plans, understanding customers, building brands, shaping offerings, communicating value, and creating long-term growth.
This document provides an overview of key concepts in marketing from a textbook. It discusses what marketing is, how companies create value for customers to build relationships. It also covers understanding customer needs and selecting target customers. Companies must design marketing strategies and programs around a marketing mix to deliver value to customers. Building loyalty and satisfaction is key to capturing long-term value from customers over their lifetime as a customer.
First seminar of my Managing Marketing Processes course in the Masters of General Management Program at the Stockholm School of Economics in Sweden: http://www.hhs.se/EDUCATION/MSC/MSCGM/Pages/default.aspx
This document summarizes the first chapter of a marketing textbook. It introduces fundamental marketing concepts such as the importance of marketing, its scope, and how marketing management has changed. It also summarizes the chapter's key questions about defining marketing, the tasks of marketing management, and how marketing differs in the Arab world. Overall, the document provides an overview of introductory marketing topics covered in the first chapter.
The document discusses the key concepts and tasks of marketing management. It defines marketing as creating, communicating, delivering, and exchanging offers that have value for customers. Marketing management is choosing target markets and growing customer value. The scope of marketing is a societal process where individuals obtain needs and wants through exchange. Marketers must decide on product features, prices, distribution channels, and promotional spending. The core tasks of marketing management include developing strategies, understanding customers, building brands, delivering value, communicating value, and creating long-term growth.
This document provides an overview of key concepts in marketing from a textbook. It discusses definitions of marketing, understanding customer needs and marketplace dynamics, designing customer-driven marketing strategies including market segmentation and targeting, and different orientations to marketing management such as production, product, selling, and marketing concepts. It also outlines ten "deadly sins" and ten best practices of effective marketing.
This document is the first chapter of a marketing textbook. It provides objectives for the chapter, which include understanding marketing's role in organizations, the concept of marketing, and how marketing provides value. It also discusses scenarios for companies like Pandora and First Flavor to illustrate marketing concepts. The chapter covers topics like the evolution of marketing approaches, what can be marketed, and perspectives on how marketing creates value for customers, producers and society.
This document discusses customer value, satisfaction, and loyalty. It defines these concepts and explains how companies can deliver value to customers to increase satisfaction and loyalty. It also discusses how companies can maximize customer lifetime value through relationship marketing, database marketing, and retaining profitable customers. The key is understanding customers, delivering value through products and services, monitoring satisfaction, and cultivating long-term customer relationships.
This document provides an overview of marketing concepts. It defines marketing as a process of creating value for customers to build relationships and capture value in return. It discusses understanding customer needs and how companies can design marketing strategies and programs to satisfy those needs. It also covers building customer relationships, managing partnerships, and capturing long-term value from customers through loyalty and equity. The overall goal of marketing is to pull all these elements together to best serve target customers.
The document appears to be a template for creating presentations with customizable sections and titles. It contains mostly blank sections that can be clicked on to add content. There are templates for icons, charts, steps in a process, and timelines. The overall structure provides a way to quickly generate presentations using predefined layouts and sections.
The document is a template for a PowerPoint presentation that contains mostly blank content placeholders labeled "Click here to add content that matches the title." The template includes instructions to insert subtitles and content into the placeholders. It is organized into four parts that each have multiple content sections that can be filled out.
The document is a presentation template that contains placeholder text and formatting. It consists of title slides, body text slides, and formatting elements like logos and section dividers. The template can be customized with user-generated content for reports and presentations. It provides an easy to use format and layout for creating slideshow documents.
This document discusses human development across four areas - social, emotional, physical, and intellectual. It focuses on emotional development, describing various emotions like anger, happiness, jealousy, sadness, and fear that children experience at different developmental stages. It also discusses how children develop independence from parents as they grow. The areas of development are interconnected, so when one is affected it may influence others.
Dokumen tersebut membahas berbagai strategi pemasaran untuk meningkatkan penjualan produk dan jasa, meliputi segmen pasar sasaran, program dan layanan yang ditawarkan, pengemasan, penetapan harga, promosi, dan saluran distribusi.
it describes the bony anatomy including the femoral head , acetabulum, labrum . also discusses the capsule , ligaments . muscle that act on the hip joint and the range of motion are outlined. factors affecting hip joint stability and weight transmission through the joint are summarized.
The simplified electron and muon model, Oscillating Spacetime: The Foundation...RitikBhardwaj56
Discover the Simplified Electron and Muon Model: A New Wave-Based Approach to Understanding Particles delves into a groundbreaking theory that presents electrons and muons as rotating soliton waves within oscillating spacetime. Geared towards students, researchers, and science buffs, this book breaks down complex ideas into simple explanations. It covers topics such as electron waves, temporal dynamics, and the implications of this model on particle physics. With clear illustrations and easy-to-follow explanations, readers will gain a new outlook on the universe's fundamental nature.
How to Manage Your Lost Opportunities in Odoo 17 CRMCeline George
Odoo 17 CRM allows us to track why we lose sales opportunities with "Lost Reasons." This helps analyze our sales process and identify areas for improvement. Here's how to configure lost reasons in Odoo 17 CRM
Thinking of getting a dog? Be aware that breeds like Pit Bulls, Rottweilers, and German Shepherds can be loyal and dangerous. Proper training and socialization are crucial to preventing aggressive behaviors. Ensure safety by understanding their needs and always supervising interactions. Stay safe, and enjoy your furry friends!
This presentation was provided by Steph Pollock of The American Psychological Association’s Journals Program, and Damita Snow, of The American Society of Civil Engineers (ASCE), for the initial session of NISO's 2024 Training Series "DEIA in the Scholarly Landscape." Session One: 'Setting Expectations: a DEIA Primer,' was held June 6, 2024.
ISO/IEC 27001, ISO/IEC 42001, and GDPR: Best Practices for Implementation and...PECB
Denis is a dynamic and results-driven Chief Information Officer (CIO) with a distinguished career spanning information systems analysis and technical project management. With a proven track record of spearheading the design and delivery of cutting-edge Information Management solutions, he has consistently elevated business operations, streamlined reporting functions, and maximized process efficiency.
Certified as an ISO/IEC 27001: Information Security Management Systems (ISMS) Lead Implementer, Data Protection Officer, and Cyber Risks Analyst, Denis brings a heightened focus on data security, privacy, and cyber resilience to every endeavor.
His expertise extends across a diverse spectrum of reporting, database, and web development applications, underpinned by an exceptional grasp of data storage and virtualization technologies. His proficiency in application testing, database administration, and data cleansing ensures seamless execution of complex projects.
What sets Denis apart is his comprehensive understanding of Business and Systems Analysis technologies, honed through involvement in all phases of the Software Development Lifecycle (SDLC). From meticulous requirements gathering to precise analysis, innovative design, rigorous development, thorough testing, and successful implementation, he has consistently delivered exceptional results.
Throughout his career, he has taken on multifaceted roles, from leading technical project management teams to owning solutions that drive operational excellence. His conscientious and proactive approach is unwavering, whether he is working independently or collaboratively within a team. His ability to connect with colleagues on a personal level underscores his commitment to fostering a harmonious and productive workplace environment.
Date: May 29, 2024
Tags: Information Security, ISO/IEC 27001, ISO/IEC 42001, Artificial Intelligence, GDPR
-------------------------------------------------------------------------------
Find out more about ISO training and certification services
Training: ISO/IEC 27001 Information Security Management System - EN | PECB
ISO/IEC 42001 Artificial Intelligence Management System - EN | PECB
General Data Protection Regulation (GDPR) - Training Courses - EN | PECB
Webinars: https://pecb.com/webinars
Article: https://pecb.com/article
-------------------------------------------------------------------------------
For more information about PECB:
Website: https://pecb.com/
LinkedIn: https://www.linkedin.com/company/pecb/
Facebook: https://www.facebook.com/PECBInternational/
Slideshare: http://www.slideshare.net/PECBCERTIFICATION
বাংলাদেশের অর্থনৈতিক সমীক্ষা ২০২৪ [Bangladesh Economic Review 2024 Bangla.pdf] কম্পিউটার , ট্যাব ও স্মার্ট ফোন ভার্সন সহ সম্পূর্ণ বাংলা ই-বুক বা pdf বই " সুচিপত্র ...বুকমার্ক মেনু 🔖 ও হাইপার লিংক মেনু 📝👆 যুক্ত ..
আমাদের সবার জন্য খুব খুব গুরুত্বপূর্ণ একটি বই ..বিসিএস, ব্যাংক, ইউনিভার্সিটি ভর্তি ও যে কোন প্রতিযোগিতা মূলক পরীক্ষার জন্য এর খুব ইম্পরট্যান্ট একটি বিষয় ...তাছাড়া বাংলাদেশের সাম্প্রতিক যে কোন ডাটা বা তথ্য এই বইতে পাবেন ...
তাই একজন নাগরিক হিসাবে এই তথ্য গুলো আপনার জানা প্রয়োজন ...।
বিসিএস ও ব্যাংক এর লিখিত পরীক্ষা ...+এছাড়া মাধ্যমিক ও উচ্চমাধ্যমিকের স্টুডেন্টদের জন্য অনেক কাজে আসবে ...
A review of the growth of the Israel Genealogy Research Association Database Collection for the last 12 months. Our collection is now passed the 3 million mark and still growing. See which archives have contributed the most. See the different types of records we have, and which years have had records added. You can also see what we have for the future.
Executive Directors Chat Leveraging AI for Diversity, Equity, and InclusionTechSoup
Let’s explore the intersection of technology and equity in the final session of our DEI series. Discover how AI tools, like ChatGPT, can be used to support and enhance your nonprofit's DEI initiatives. Participants will gain insights into practical AI applications and get tips for leveraging technology to advance their DEI goals.
Marketing creates demand for a product, which in turn drives revenue. Greater demand creates the need for companies to hire new workers, while revenue (top line) contributes to a company’s bottom line (profits), which allow the company to be more fully engaged in socially responsible activities.
Experiences include a trip to Disney World, Fantasy baseball camp, a cruise.
Events can include trade shows, the Olympics, Super Bowl, etc.
Properties include real estate as well as stocks and bonds.
Organizations use marketing to connect with their target market.
Information is marketed by universities, textbook publishers, newspapers, etc.
Ideas include “Friends don’t let friends drive drunk”
Marketers are individuals, groups, associations, companies, etc. that seek a response, such as attention, a purchase, donation, vote, etc., from another party which is called the prospect.
Negative – consumer’s dislike a product and may pay to avoid, such as with dental work
Nonexistent – consumers are unaware of or uninterested in the product or service
Latent – There is no product on the market that can satisfy consumer needs
Declining – Consumers purchase a product less and less frequently, or not at all. For example, the sale of albums (vinyl and CD’s) are declining significantly.
Irregular – A products demand varies by time, such as on a seasonal basis.
Full – Consumers are buying all the products that enter into the market.
Overfull – There are more buyers than product available.
Unwholesome – Consumers are attracted to products that have undesireable social consequences, such as cigarettes or gambling.
Economist describe a market as a collection of buyers and sellers who transact over a particular product or product class.
There are five basic markets – Manufacturer, resource (financial, labor, raw materials), intermediary (wholesalers, resellers, etc), consumer, and government.
Marketplace – physical locations (such as retail store)
Marketspace – digital location (online retailer)
Metamarkets – The cluster of complementary products and services related in consumers mind, but spread across diverse set of industries.
Major societal forces, such as information technologies, globalization, increased competition, and a more informed consumer have altered the marketplace has changed significantly. While these have created challenges, organizations have responded with new capabilities
CMOs must have strong quantitative skills, to accompany their qualitative skills. Must be entrepreneurial as well as a team player. However, the CMO nor the marketing department can be solely responsible for marketing. It must be undertaken by the entire organization.
David Packard of Hewlett-Packard is quoted as saying: “Marketing is far to important to be left to the marketing department.”
The five distinct marketing concepts are: Production, Product, Selling, Marketing, and Holistic. These philosophies have evolved over time and began with the production concept. The evolution of a new marketing concept does not mean that all companies are changing. Many companies continue to operate under the production concept.
Under a production philosophy the company will seek to mass produce products and to distribute them on a wide scale. The belief is that consumers prefer products that are widely available and inexpensive.
The product concept proposes that consumers prefer products that have higher quality, performance, or are more innovative. Often, managers focus too much on the product (a better mousetrap) but this does not always equal success.
The selling concept argues that members of a market will not purchase enough product on their own so companies use the “hard-sell” to increase demand. Typically used with unsought goods such as insurance or cemetery plots, or when companies face overcapacity.
The marketing concept first emerged in the 1950’s and focuses more on the customer with a “sense-and-respond” attitude. Companies that have embraced the marketing concept have been shown to achieve superior performance than competitors.
The holistic concept takes a philosophy that everything matters in marketing. Figure 1.3 (next slide) outlines the Holistic Marketing Concept.
Relationship marketing seeks to build mutually beneficial, long-term relationship with key constituents in order to earn and retain their business. The four key constituents are: customers, employees, partners, and member of the financial community. Attracting a new customer can cost five times as much as retaining existing customers so building long-term relationships makes financial sense for the company.
Marketing networks consist of the company and its supporting stakeholders who have built a mutually profitable business relationship.
Integrated marketing holds that all activities undertaken by the company should create, communicate, and deliver value. Further, all new activities should take into consideration all other marketing activities.
Internal marketing is the task of hiring, training, and motivating able employees to serve customers well. You can’t promise excellent service if you can’t deliver excellent service.
Marketers must understand both the financial and nonfinancial returns to a business and society from marketing programs and activities. Financial accountability involves the justification of marketing expenditures in terms of financial returns. But they must also think about the ethical, environmental, legal, and social aspects of their activities.