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Fundamental of Marketing

In: Business and Management

Submitted By aizat1993
Words 2491
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Marketing I (Fundamentals)

Week 2 Marketing Orientation Marketing Management Ø The analysis , Planning , Implementation and Control activities of management with regards to marketing. Marketing Management Philosophies 1. Production Concept Focus on production and distribution efficiencies Consumers will favour products that are available and affordable 2. Product concept Focus on product improvement Consumers favour better products 3. Selling concept Focus on more selling and promotion Consumers won’t buy unless you persuade them 4. Marketing Concept Focus on satisfying target markets needs and wants better than competitors as a way to achieve organisational goals. 5. Societal Marketing Concept Ø Same as marketing Ø But do it in a way that the society’s well-being is maintained or improved. The pure marketing concept overlooks possible conflicts between consumer short-run wants and consumer long-run welfare –e.g. fast food. The societal concept seems appropriate bin an age of: • • • • Environmental problems Resource shortages Rapid population growth World-wide economic problems


Marketing I (Fundamentals) • Neglected social services

Marketing Challenge into the Next Century 1. Growth of nonprofits marketing 2. The information Technology Boom 3. Rapid globalisation 4. The changing world economy 5. The call for move ethics and social responsibility 6. The new marketing landscape The 4ps 1. Product • • • The product can be tangible or intangible The right product for the target Getting the right product to the target markets Place thro a channel of distribution. A channel of distribution is any series of firms from producer to final user or consumer. Telling and selling the customer

2. Place

3. Promotion • Personal selling- involves direct communication, usually face-to-face, Sometimes over the telephone, salesman can adapt the firms marketing mix to...

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