Marketing Management
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The document outlines the evolution of different marketing concepts over time from a production concept to a societal marketing concept. It discusses 5 concepts: 1) The production concept focuses on high efficiency and low costs. 2) The product concept emphasizes product quality but less on customer needs. 3) The selling concept is about persuading customers through promotion. 4) The marketing concept matches customer needs through market research. 5) The societal marketing concept creates long-term customer relationships and benefits society.
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SMAI 2013 - Marketing Philosophy
Independent schools often underinvest in marketing and admissions, allocating less than 5% of their budget to these areas. Marketing is crucial for attracting students and promoting the school's mission. While schools look to colleges for innovation, they often fail to adopt proven management models like integrated marketing. Effective marketing requires understanding customers, coordinating across departments, and prioritizing the customer experience.
Lect2 12.9.14 (marketing concepts)
Marketing is bringing buyers and sellers together through various functions and processes. It can be performed by all organizations and involves communication and information exchange between producers and consumers in a market. While traditionally focused on advertising and sales, marketing is now viewed as a business philosophy and customer-centered approach. The evolution of marketing mirrors the progression of business models from a production focus, to product improvements, selling/promotion, and now a customer-driven marketing concept where customer needs and wants are the priority. The newest approach is societal marketing, which considers social and environmental impacts.
Difference between selling concept and marketing concept
Presentation of Marketing
Differences Between
Selling Concept and Marketing Concept
Selling Concept
If customers are left to themselves, they will not make the effort to buy a company’s product.
Mere sales oriented regardless of consumer want, need and value,
Primary agenda is to earn profit through larger sales volume.
Factory or Product is the initiative point of Selling Concept.
Selling of product through persuasion or different means of selling though the product have detrimental effect,
It focuses on short term as intensive focus on pushing product to the market and clearing the market as soon as possible.
Marketing Concept
Marketing concept is the management process of identifying the need of target customer , and delivering product,
Customer oriented and fosters on customer value,
Primary agenda is to earn profit through Customer Satisfaction
The loyalty of consumer is the ultimate source of profit (focus on creating hard-core loyal customer such as Apple Inc.)
Identification of need of Target market is the initial phase,
Creates wants satisfying goods and services which the consumers will want to buy.
What is offered for sale is determined not by the seller but by the buyers.
Product is the resultant of market research
Differences Between
Selling Concept
Process of selling starts with the creation of product, and pushing it to market through aggressive selling.
Marketing Concept
Process of marketing starts with the identification of customer need, creation of product based on market research, and delivering product in such as way that satisfies consumer need
...............
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This document provides an overview of marketing concepts and frameworks. It includes:
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2) Descriptions of Kraft Canada's customer-focused marketing strategy and how it led to business growth.
3) Explanations of fundamental marketing concepts like the marketing mix, internal marketing, and the societal marketing concept.
4) An outline of common marketing management tasks such as developing strategies, understanding customers, and communicating value.
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Marketing is bringing buyers and sellers together through various functions and processes. It can be performed by all organizations and involves communication and information exchange between producers and consumers in a market. While traditionally focused on advertising and sales, marketing is now viewed as a business philosophy and customer-centered approach. The evolution of marketing mirrors the progression of business models from a production focus, to product improvements, selling/promotion, and now a customer-driven marketing concept where customer needs and wants are the priority. The newest approach is societal marketing, which considers social and environmental impacts.
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Differences Between
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If customers are left to themselves, they will not make the effort to buy a company’s product.
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Primary agenda is to earn profit through larger sales volume.
Factory or Product is the initiative point of Selling Concept.
Selling of product through persuasion or different means of selling though the product have detrimental effect,
It focuses on short term as intensive focus on pushing product to the market and clearing the market as soon as possible.
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Marketing concept is the management process of identifying the need of target customer , and delivering product,
Customer oriented and fosters on customer value,
Primary agenda is to earn profit through Customer Satisfaction
The loyalty of consumer is the ultimate source of profit (focus on creating hard-core loyal customer such as Apple Inc.)
Identification of need of Target market is the initial phase,
Creates wants satisfying goods and services which the consumers will want to buy.
What is offered for sale is determined not by the seller but by the buyers.
Product is the resultant of market research
Differences Between
Selling Concept
Process of selling starts with the creation of product, and pushing it to market through aggressive selling.
Marketing Concept
Process of marketing starts with the identification of customer need, creation of product based on market research, and delivering product in such as way that satisfies consumer need
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This document provides an overview of marketing concepts and frameworks. It includes:
1) Definitions of marketing, marketing management, and the importance of marketing for business success.
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3) Explanations of fundamental marketing concepts like the marketing mix, internal marketing, and the societal marketing concept.
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This document outlines the key principles of marketing including:
1) Marketing is a process by which companies create value for customers and build strong customer relationships to capture value from customers in return.
2) Understanding customer needs, wants, demands and the marketplace is essential for developing a customer-driven marketing strategy that involves segmenting markets and choosing a value proposition.
3) An integrated marketing plan uses the marketing mix of product, price, promotion and place to implement the strategy and build customer relationships through delivering superior customer value and satisfaction.
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Marketing involves creating value for customers and capturing value from customers in return through profitable customer relationships. Marketers need to understand customer needs and the marketplace. They design marketing strategies by selecting target customer segments and developing a value proposition to serve those customers better than competitors through an integrated marketing program using the marketing mix. The goal is to build strong customer relationships, satisfaction, loyalty and lifetime value to increase customer equity.
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Marketing involves anticipating customer needs and satisfying them profitably. It includes identifying target markets and creating value for customers. Marketing management orients a company around different concepts like production, marketing, selling, product, and societal marketing. The production concept focuses on efficiency and availability, while the marketing concept is customer-centered. The selling concept relies on promotion, and the product concept emphasizes quality. The societal marketing concept considers customer, social, and company welfare. Understanding different orientations helps companies meet customer needs, avoid mistakes, uncover opportunities, and implement emerging technologies for higher satisfaction.
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To identify marketing mix elements of 4p
To discuss the concept of marketing management
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This document provides an overview of key marketing concepts, including the 4 P's of marketing (product, price, place, and promotion), different marketing philosophies (production, product, selling, societal, and marketing concepts), and the importance of planning and using information in marketing. It discusses understanding customer needs, competitors, coordinating business functions, and using capabilities to drive performance. The marketing mix and concepts are explained as frameworks for guiding business activities and decisions.
Marketing mix
This document discusses definitions and components of marketing mix. It provides definitions of marketing from Kotler, Armstrong, and The Chartered Institute of Marketing that focus on creating and exchanging value for customers. It defines marketing mix as a combination of product, price, place, and promotion that influence consumer purchases. It expands on this with the 7Ps model which also includes people, process, and physical evidence particularly relevant for services. Each P is described in 1-2 sentences with examples. Product refers to goods or services, price is the customer cost, place is distribution/accessibility, promotion uses advertising, public relations, and sales promotions. People considers target markets and business relations. Process covers systems like sales funnel. Physical evidence demonstrates service
Creating Customer Value And Engagement
This document outlines the key principles of marketing including:
1) Marketing is a process by which companies create value for customers and build strong customer relationships to capture value from customers in return.
2) Understanding customer needs, wants, demands and the marketplace is essential for developing a customer-driven marketing strategy that involves segmenting markets and choosing a value proposition.
3) An integrated marketing plan uses the marketing mix of product, price, promotion and place to implement the strategy and build customer relationships through delivering superior customer value and satisfaction.
Analysis Marketing Mix And STP
Analysis Marketing Mix And STP via:
1. Marketing.
2. Marketing Mix - Meaning And Its Element.
3. Idol Wear Intro.
4. Idol Wear Inc.'s Marketing Mix (4ps/Product, Place, Promotion, Price).
5. Segmentation, Targeting, And Positioning
6. Main Factors That Can Affect The Buying Decisions Of The Target Customers For Idol Wear’s Products.
7. Conclusion.
The Correct Marketing Mix
The marketing mix is a set of controllable tactical marketing tools that a firm uses to produce the desired response in the target market. It consists of the 4Ps: product, price, place, and promotion. In a services context, people, processes, and physical evidence were added to account for the intangible nature of services. An effective marketing mix matches customer needs, creates a competitive advantage, is well-blended, and matches the firm's resources. Marketers must carefully manage the marketing mix elements as a change in one may impact others.
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This document discusses several marketing management philosophies, including the production concept, product concept, selling concept, marketing concept, societal marketing concept, and holistic marketing concept. The production concept focuses on high production and wide distribution. The product concept emphasizes product quality, performance, and features. The selling concept is based on aggressive selling methods. The marketing concept focuses on understanding customer needs and satisfying them better than competitors. The societal marketing concept balances business, customer, and societal interests. The holistic marketing concept integrates all marketing activities and recognizes their interdependencies.
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This document discusses key concepts in marketing management. It defines marketing management as involving the analysis, planning, implementation and control of programs to create beneficial exchanges with buyers to achieve organizational objectives. It also discusses demand management and building profitable customer relationships. Five philosophies that guide marketing activities are described: production concept, product concept, selling concept, marketing concept, and societal marketing concept. The marketing concept holds that meeting customer needs more effectively than competitors leads to organizational goals. The societal marketing concept adds that this should be done in a way that benefits customers and society. Major challenges in marketing going forward include non-profit marketing, technology, globalization, economic changes and calls for more ethics.
Marketing-Management-Definition-Basic-Concepts-Part-II.pptx
This document discusses key concepts in marketing management. It defines marketing management as analyzing, planning, implementing, and controlling programs to create beneficial exchanges with buyers to achieve organizational objectives. Marketing management involves demand management and building profitable customer relationships. The document also outlines different philosophies that guide marketing activities, including the production concept, product concept, selling concept, marketing concept, and societal marketing concept. It contrasts the selling and marketing concepts and discusses considerations for societal marketing.
Marketing-Management-Definition-Basic-Concepts-Part-II.pptx
This document discusses key concepts in marketing management including:
1) Marketing management involves demand management and building profitable customer relationships.
2) There are five marketing philosophies including the production, product, selling, marketing, and societal marketing concepts.
3) The marketing concept holds that achieving organizational goals depends on determining customer needs and satisfying them more effectively than competitors.
Marketing management
The document provides an overview of marketing, marketing management, and the marketing environment. It defines marketing as understanding customer needs and delivering value and satisfaction. Marketing management involves planning, organizing, and controlling marketing activities to create demand and generate profit. The marketing environment comprises internal factors within a company's control and external factors outside of its control that influence marketing operations. The external environment includes political, economic, social, technological, legal, and environmental factors. Understanding the marketing environment is important for identifying opportunities and adapting to changes.
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- 1. AYYA NADAR JANAKI AMMAL COLLEGE Department of Business Administration. Submitted to : S.J.Vigneshwaran. Submitted by : B.Eswari.
- 4. 1. The Production Concept: The production concept holds that consumer will prefer products that are widely available and inexpensive. Managers focusing on this concept concentration on achieving high production efficiency, low costs and distribution.
- 5. 2. Product Concept: The Product Concept holds that consumer will favour products that offer the most in quality, performance, and innovative features. Under this concept, marketing strategy focuses on making continuous product improvement. Less focus on consumer needs.
- 6. 3.Selling concept: The Selling Concept proposes that customers, be individual or organizations will not buy enough of the organization's products unless they are persuaded to do so through selling effort. So organizations should undertake selling and promotion of their products for marketing success.
- 7. 4. Marketing Concept: The key to achieving organizational goals consist in determining the needs and wands of target markets and delivering the desired satisfactions more effectively and efficiently than competitors. The marketing concept rests on four pillars: Target market, Customer needs, integrated and profitability.
- 8. 5.Societal marketing concept: The societal marketing concept helps to maximize profits for the organization and creates a long-term relationship with customers. It encourages developing products that benefit society in long run and satisfies consumers.