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Marketing is a communication Management. What is the definition of Marketing?. Marketing Management. Definition of Marketing

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Marketing Management

  • Definition of Marketing
    • The complex, interrelated series of activities involved in creating products and services, promoting their existence and attributes, and making them physically available to identified target buyers. (American Management Association)

Marketing Management

marketing management
Marketing Management
  • This is the standard model of communication
  • Marketing texts use the model to introduce promotion

Sender

Encode

Message

Decode

Receiver

Feedback

Marketing Management

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Marketing Management
  • I prefer this model to explain the marketing process
  • It is applicable to any form of interaction
  • Explains the marketing curriculum and strategies

Sender

Encode

Message

Decode

Receiver

Feedback

Marketing Management

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Marketing Management
  • Marketing (Jensen’s definition):
    • A communication process that exists between producer and consumer for the purpose of optimizing satisfaction of both parties.

Sender

Encode

Message

Decode

Receiver

Feedback

Marketing Management

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Marketing Management
  • The sender originates the action
  • The sender could also be known as the Producer of an offering

Sender

Marketing Management

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Marketing Management
  • The receiver is the target of the action
  • The target could also be known as the Consumer of an offering

Receiver

Marketing Management

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Marketing Management
  • The message is the offering
  • The message could also be known as the product

Message

Marketing Management

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Marketing Management
  • The way the Receiver decodes is of vital importance to the Sender
  • Need to know who the target is; in as many ways possible
  • Therefore, we study Consumer Behavior and Marketing Research

Decode

Marketing Management

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Marketing Management
  • Knowing the way the Receiver decodes guides the Sender in developing the offering
  • All aspects of the offering serve as communication tools
  • Therefore, we have the Marketing Strategies: Product, Price, Place and Promotion

Encode

Marketing Management

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Marketing Management
  • Product as a Communicator
  • Label is full of information about the product
  • Packaging-balancing Protection against Comparison
  • Packaging-enhancing product image
    • Popin’s
  • Branding-creating identification and allegiance
    • NABISCO’s “triangle”
  • Product
    • Coffee Study and Convenience Goods

Marketing Management

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Marketing Management
  • Price as a Communicator
  • Discounts and Deals
  • Price as a measure of quality
  • The economist’s nightmare – a positively sloped demand curve

Marketing Management

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Marketing Management
  • Place as a Communicator
  • Place of purchase as indicator of quality
    • Bonney & Gordon
  • Control of the Channel of Distribution
    • Private Branding versus National Brands
  • Retailing and Display
    • Product placement

Marketing Management

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Marketing Management
  • Promotion as a Communicator (the obvious one)
  • Advertising - communicating with the masses
  • Personal Sales - communicating one-to-one

Marketing Management

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Marketing Management
  • This model allows a user to view any transaction from a marketing perspective and analyze the successes and failures

Sender

Encode

Message

Decode

Receiver

Feedback

Marketing Management

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Marketing Management
  • For Example
  • I firmly maintain that Marketing Students SHOULD expect the job of their dreams upon graduation
  • Their academic career was spent learning how to market a product – in this case, getting the job
  • If they have learned anything it should have been how to market themselves
  • And applying the model is a positive approach

Marketing Management

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Marketing Management
  • Who is the Receiver (Target)
  • How do they Decode
  • What is the Product
  • What Packaging is appropriate
  • Is Branding a factor
  • What are the Price factors
  • What are the Place factors
  • What Advertising is involved
  • What Personal Selling is involved

Marketing Management

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Marketing Management
  • Marketing:A communication process that exists between producer and consumer for the purpose of optimizing satisfaction of both parties.

Marketing Management

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