Week 1 Introduction. Starter. What do you understand by the term Marketing? Create a spider diagram of all the words you associate with marketing Find some good and bad examples of marketing. Aim and purpose.
The aim and purpose of this unit is to give learners an understanding of how marketing, research and planning and the marketing mix are used by all organisations.
On completion of this unit you should:
Essentials of Marketing – eBook
Planning -> Empowering -> EvaluatingPerformance
Teams working towards a common goal
Areas in which the business operates
Logistics Production Marketing and sales
Maintenance R&D HRM Company infrastructure
Achieve the intended market outcomes
Economic and financial performance
Jan ChadamZbigniewPastuszak, (2005),"Marketing aspects of knowledge based management in groups of companies: case of Poland", Industrial Management & Data Systems, Vol. 105 Issue 4 pp. 459 – 475 Permanent link to this document: http://dx.doi.org/10.1108/02635570510592361
Adding Value to Pineapples
You have inherited a pineapple plantation, how can your business ADD VALUE
Process view of organisations
System, made up of subsystems each with;
Inputs, transformation processes, and outputs involve the acquisition and consumption of resources;
According to Porter (1985), they are:
The Selling Concept
The Production Concept
The Product Concept
Being more effective than competitors in creating, delivering, and communicating customer value to its selected target customers.
The marketing concept rests on four pillars: target market, customer needs, integrated marketing and profitability.
The Sales Concept focuses on the needs of the seller. The Marketing Concept focuses on the needs of the buyer.
The Sales Concept is preoccupied with the seller’s need to convert his/her product into cash. The Marketing Concept is preoccupied with the idea of satisfying the needs of the customer by means of the product as a solution to the customer’s problem (needs).
The Marketing Concept has evolved into a fifth and more refined company orientation: The Societal Marketing Concept. This concept is more theoretical and will undoubtedly influence future forms of marketing and selling approaches.
The Societal Marketing Concept. This concept holds that the organization’s task is to determine the needs, wants, and interests of target markets and to deliver the desired satisfactions more effectively and efficiently than competitors (this is the original Marketing Concept). Additionally, it holds that this all must be done in a way that preserves or enhances the consumer’s and the society’s well-being.
This orientation arose as some questioned whether the Marketing Concept is an appropriate philosophy in an age of environmental deterioration, resource shortages, explosive population growth, world hunger and poverty, and neglected social services.
Are companies that do an excellent job of satisfying consumer wants necessarily acting in the best long-run interests of consumers and society?
The marketing concept possibly sidesteps the potential conflicts among consumer wants, consumer interests, and long-run societal welfare. Just consider:
The fast-food hamburger industry offers tasty but unhealthy food. The hamburgers have a high fat content, and the restaurants promote fries and pies, two products high in starch and fat. The products are wrapped in convenient packaging, which leads to much waste. In satisfying consumer wants, these restaurants may be hurting consumer health and causing environmental problems.
Figure 1: Adopted from Marketing an Introduction (Kotler et al, 1993) Illustrating the relationships between Society, Company, and Consumers to design with intention and impact.
Dr.Philip Kotlerdefinesmarketing as;
The science and art of exploring, creating, and delivering value to satisfy the needs of a target market at a profit.
Marketing identifies unfulfilled needs and desires.
It defines, measures and quantifies the size of the identified market and the profit potential.
It pinpoints which segments the company is capable of serving best and it designs and promotes the appropriate products and services.