...customer-focused and heavily committed to marketing. These companies share a passion for understanding and satisfying customer needs in well-defined target markets. They motivate everyone in the organization to help build lasting customer relationships based on creating value. Marketing is just as important for non-profit-making organizations as it is for profit-making ones. It is very important to realize that at the heart of marketing is the customer. It is the management process responsible for identifying, anticipating and satisfying consumer requirements profitability. Background The term ‘‘marketing’’ is derived from the word ‘‘market’’, which refers to a group of sellers and buyers that cooperate to exchange goods and services. The modern concept of marketing evolved during and after the revolution in the 19th and 20th centuries. During that period, the proliferation of goods and services, increased worker specialization and technological advances in transportation, refrigeration and other factors that facilitate the transfer of goods over long distances resulted in the need for more advance market mechanisms and selling techniques. But it was not until the 1930s that companies began to place a greater emphasis on advertising and promoting their products and began striving to tailor their goods to specific consumer needs. By the 1950s, many larger companies were sporting entire marketing departments charged with devising and implementing marketing strategies that would complement...
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...or in terms of a formula) • Average Revenue- the revenue generated per unit of output sold. It plays a role in the determination of a firm's profit. Per unit profit is average revenue minus average (total) cost. 2. Explain how to conduct a break even analysis. Show how a break-even point is calculated. Illustrate what a break even chart looks like. 3. What is a marketing channel? What is its function? • is a set of practices or activities necessary to transfer the ownership of goods, and to move goods, from the point of production to the point of consumption and, as such, which consists of all the institutions and all the marketing activities in the marketing process. 4. Describe and explain the relationship between marketing channels, supply chains, supply chain management, and logistics management. Provide examples. 5. Define Marketing and Social Marketing. Explain the similarities and differences between commercial and social marketing. 6. Discuss and describe the three forms of consumer ads. Discuss and describe the three forms of industrial ads. • 486-487 • 3 types • Consumer Product: focus on selling a good or service • Pionnering (informational) • Competitivte (persuasive) • Reminder • Institutional: build goodwill or an image for an organization • Advocacy • Pionnering institutional • Competitive institutional • Reminder institutional 7. Compare and contrast fear appeals...
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...Assessment: MKC1 Market Environmental Variables Reading: Contemporary Marketing: Chapter 3 Questions: 1. How would you categorize Generation X using the five segments of the marketing environment? A: Competitive Environment B: Political-legal environment C: Economic environment D: Technological environment E: Social-cultural environment 2. Joe and Ryan both have storefronts in the local mall. Joe sells candies and Ryan sells pretzels. Are Joe and Ryan in direct competition with each other? A: Yes B: No Consumer Behavior and Marketing Reading: Contemporary Marketing: Chapter 5 Questions: 1. Rachel and Sarah’s parents always purchased groceries from the local Aldi marketplace. What is this type of behavior an example of? A: Cultural influences B: Social Influences C: Personal factors 2. Maryanne purchases Maxwell House coffee every two weeks from the grocery. What is this type of behavior an example of? A: Routinized Problem Solving B: Limited problem solving C: Extended problem solving 3. Aaron does research on several local colleges before applying to his first three choices. This is an example of: A: High – involvement purchase decision B: Low – involvement purchase decision Marketing Plans Reading: Contemporary Marketing: Chapter 2 + Ch. 2 Appendix Web sites: http://www.jpec.org/handouts/jpec33.pdf http://www.netmba.com/marketing/process/ Questions: 1. Strategies are designed to meet objectives...
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...DIFFERENCE BETWEEN SELLING AND MARKETING In general we use „marketing‟ and „selling‟ as synonyms but there is a substantial difference between both the concepts. It is necessary to understand the differences between them for a successful marketing manager. Selling has a product focus and mostly producer driven. It is the action part of marketing only and has short – term goal of achieving market share. The emphasis is on price variation for closing the sale where the objective can be stated, as “I must somehow sell the product”. This short – term focus does not consider a prudential planning for building up the brand in the market place and winning competi¬tive advantage through a high loyal set of cus¬tomers. The end means of any sales activity is maximizing profits through sales maximization. When the focus is on selling, the businessman thinks that after production has been completed the task of the sales force starts. It is also the task of the sales department to sell whatever the production department has manufactured. Ag¬gressive sales methods are justified to meet this goal and customer‟s actual needs and satisfaction are taken for granted. Selling converts the product in to cash for the company in the short run. Marketing as a concept and approach is much wider than selling and is also dynamic as the fo¬cus is on the customer rather than the product. While selling revolves around the needs and in¬terest of the manufacturer or marketer, market¬ing revolves around that...
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...Qualifications Certificate in Marketing Level 2 Extended Syllabus Effective for examinations to be held from Series 3, 2010 For further information contact us: Tel. +44 (0) 8707 202909 Email. enquiries@ediplc.com www.lcci.org.uk INTRODUCTION Education Development International (EDI) is a leading international awarding body that was formed through the merger of the London Chamber of Commerce and Industry Examinations Board (LCCIEB) and a leading online assessment provider GOAL. EDI now delivers LCCI International Qualifications (LCCI IQ) through a network of over 5000 registered centres in more than 120 countries worldwide. Our range of business-related qualifications are trusted and valued by employers worldwide and recognised by universities and professional bodies. Certificate in Marketing Level 2 Aims The aims of this syllabus are to enable candidates to develop: the marketing concept the fundamental techniques applied to the marketing of products and services. Target Audience and Candidate Progression This qualification is designed to be of benefit to those who are: new to marketing as a business function in the marketing profession and responsible for undertaking marketing activities under supervision. wishing to take the first steps towards a recognised qualification wishing to acquire a foundation in marketing at a tactical level candidates of other business subjects who wish/need to gain a basic insight into the marketing function This qualification...
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...Chapter 1: The role of marketing in organisations and society Essential reading Kotler, P. and G. Armstrong Principles of Marketing. (Upper Saddle River, NJ: Prentice Hall, 2004) tenth edition [ISBN 0131018612] Chapters 1 and 20. Keywords: activity; function; philosophy; needs and wants; orientation; transactions and relationship marketing; globalisation; environment; demographics. Introduction Consider what the word ‘marketing’ means to you. You may imagine it to be the title of a department within an organisation or a particular activity that can be undertaken by people, government departments and organisations. There are, in fact, three major ways in which marketing can be perceived, and we start this chapter by defining each of them. As an activity, marketing is possible only where there is a market and we will identify the conditions necessary for the existence of a market later in this chapter. Over the years there have been significant developments in the way marketing is used by firms. In this chapter, we will introduce the branches of marketing that have developed to address the needs of particular groups of marketers. We will also draw your attention to the ways in which marketing can help to develop a firm’s orientation towards the marketplace. Such an orientation can affect the very functioning of an organisation – from the way it develops its products to the way it sells them. We end the chapter by looking at the impact of ethics and social...
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...Marketing Strategy Notes for Cravens/Piercy Book Chapters 1-5 Chapter 1- Market Driven Strategy Know the what and why on all of these: Market driven Strategy = the market and the customers that form the market should be the starting point in business strategy formulation. See page 3. What does this mean for the auto business, a restaurant, a college or university, what would they do? Related topics foundational for a market driven strategy: Marketing Concept or Orientation – says that the key to success in business is to identify and satisfy needs and wants of the buyer. The customer is king. This contrast to the production orientation/concept which focuses on how to make the product at low cost, and the selling concept/orientation which focuses on promoting what you want to sell. In the production and selling orientations the company makes what it wants to make and tries to get the consumer to buy it. With the marketing orientation the company first figures out what people want to buy, then makes it, and then tells them about it. Market Oriented/ Market Orientation – see page 4. Means: Customer is focal point of company’s total operations Customer Focus Cross Functional Coordination Competitor Intelligence Result – superior performance Creating Value – must deliver benefits in excess of costs (value), the greater the excess the better. (Auto and college as examples) Note that we can’t do all things for all people: ...
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...Marketing Strategy Notes for Cravens/Piercy Book Chapters 1-5 Chapter 1- Market Driven Strategy Know the what and why on all of these: Market driven Strategy = the market and the customers that form the market should be the starting point in business strategy formulation. See page 3. What does this mean for the auto business, a restaurant, a college or university, what would they do? Related topics foundational for a market driven strategy: Marketing Concept or Orientation – says that the key to success in business is to identify and satisfy needs and wants of the buyer. The customer is king. This contrast to the production orientation/concept which focuses on how to make the product at low cost, and the selling concept/orientation which focuses on promoting what you want to sell. In the production and selling orientations the company makes what it wants to make and tries to get the consumer to buy it. With the marketing orientation the company first figures out what people want to buy, then makes it, and then tells them about it. Market Oriented/ Market Orientation – see page 4. Means: Customer is focal point of company’s total operations Customer Focus Cross Functional Coordination Competitor Intelligence Result – superior performance Creating Value – must deliver benefits in excess of costs (value), the greater the excess the better. (Auto and college as examples) Note that we can’t do all things for all people: ...
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...TINT Sales Planning and Operations for Toe Company Contents Introduction 2 Objectives 3 Executive Summary 4 LO 1 Understand the role of personal selling within the overall marketing strategy 6 Task (1.1) Explain how personal selling supports the promotion mix 6 Task (1.2) Compare buyer behavior and the decision making process in different situations 10 “Buying Behavior” 10 Task (1.3) analyze the role of sales teams within marketing strategy 16 LO 2: Be able to apply the principles of the selling process to a product or service. 21 Task (2.1) Prepare a sales presentation for a product or service 21 Task (2.2) Carry out sales presentation for a product or service. 25 LO 3: Understand the role and objectives of sales management 27 Task 3.1 explain how sales strategies are developed in line with corporate objectives 27 Task (3.2) explain the importance of recruitment and selection procedures 34 Task (3.3) Evaluate the role of motivation, remuneration and training sales management 37 Task (3.4) Explain how sales management organize sales activity and control sales output 48 Task (3.5) Explain the use of databases in effective sales management 51 LO 4: Be able to plan sales activity for a product or service 52 Task (4.1) Develop a sales plan for a product or service 52 Task (4.2) Investigate opportunities for selling internationally 56 (4.3) Investigate opportunities for using exhibitions or trade fairs. 58 Recommendation 61 Conclusion 62 References 63 Introduction...
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...ASSIGNMENTS FOR MARKETING PRINCIPLES Assignment #1 – An Introduction to Marketing Read chapter 1. Be prepared to answer the following questions if called on. 1. What is marketing? 2. What is a market? 3. Define the terms ultimate consumers and organizational buyers. Give examples of each. 4. What is a target market? Why do most organizations focus on satisfying the needs of one or more subgroups of a market rather than the entire market? 5. What are the four controllable marketing mix factors that make up the organization’s marketing program? 6. What are uncontrollable environmental factors? 7. Identify and describe the four distinct stages or eras of the market orientation. 8. Is marketing good or bad for a society. Support your answer. Find an article that supports your argument and attach a copy. Be prepared to discuss your article in class. Consider a society with no marketing. Assignment #2 – Strategic Planning and the Strategic Marketing Process Read chapter 2. Be prepared to answer the following questions if called on. 1. What is strategic planning and why is it important? 2. Identify and define the three organizational levels. 3. What is a mission statement? 4. What are organizational objectives (goals)? Give some examples of different types of objectives (goals) organizations might pursue. 5. What are organizational strategies? 6. What is business portfolio analysis? Draw an example of a growth-share...
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...Wk5-Checkpoint 1. What is the difference between a push marketing strategy and a pull marketing strategy? Explain how each of these strategies work. Push marketing strategy is putting in use the manufacturer’s sales force, trade promotion money, or other means to induce intermediaries to carry, promote, and sell the product to end users. Appropriate when there is a low brand loyalty in a category and the product is an impulse item. In the pull strategy the manufacturer uses advertising, promotion, and other forms of communication to persuade consumers to demand the product from the stores, thus inducing the stores to order it. Appropriate when there is high brand loyalty and high involvement in the category. 2. Describe channel conflict and provide an example. Channel conflict is generated when one channel member’s actions prevent another channel from achieving its goal. There can be a horizontal, a vertical, and a multi-channel conflict. An example of channel conflict is when Sony Manufacturer sells to discount retailers such as Wal Mart as well as independent electronic stores such as Ultimate Electronics. 3. What is a direct marketing channel? Please provide an example. A direct marketing channel consists of a manufacturer selling directly to the final customer. It includes catalogs, mailing, telemarketing, television direct-response marketing, electronic shopping, fax mail, e-mail, voice mail, blogs, and websites. Examples of this are shopping on Overstock...
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...BACHELOR OF INTERNATIONAL RESTAURANT MANAGEMENT BACHELOR OF INTERNATIONAL RESTAURANT MANAGEMENT Course name: ADVANCED MARKETING Assessment: Assignment 1 : Essay Students name: SARAH BINTI ISKANDAR FAIZ Preferred name: SARAH Student # 640996 3. What is the purpose and what are the benefits of the marketing philosophy? How does it differ from past traditional philosophies? Give company examples (with appropriate referencing) to illustrate. Give examples to explain how companies are moving towards societal marketing within the hospitality and tourism sectors. An establishment of an organizations, business or products constantly applies marketing ideas by understanding customers need and developing the products and services to meet their satisfactions and needs. Peter F. Drucker who is a successful management consultant says “The aim of marketing is to know and understand the customer so well the product or service fits him and sells itself.” Hospitality and tourism industry are rapidly changing and flexible therefore a combination of marketing concept or strategy will be needed and is also due to increasing level of globalization therefore trends and function has been constantly changing over the decades However the basics of marketing philosophy has constantly guiding one’s businesses marketing activities. Purpose of marketing philosophy means giving a complete customer his or her satisfactions by studying and analyze target market theirs needs and wants...
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...Snap on Tools Case Study 1. Selling strategy is a major component of Snap-on’s marketing strategy. They developed certain strategies that attracted customers and expanded their market, their original selling strategy did not work and once they went to a more direct approach, customers started buying the product. The second component is that their basic commitment to direct selling has remained pretty much unchanged, even though the dynamics have changed over the years, the basic building blocks and marketing strategy is still used to this date. This also means the company’s basic purpose has remain unchanged – “the production and sale of quality hand tools and related items to professional mechanics and industrial users”. The third component is how each independent dealer carries rolling stock of Snap-on small hand tools, which is a unique marketing strategy compared to most companies since it uses each franchise dealer carried a massive amount of company product. What changed for Snap-on was how they marketed and showed customers how they product worked in person through demonstration and even letting the clients try it. Once that happened, the sales skyrocketed. Its final major marketing component is how Snap-on has avoided expanding and mainly focuses on its core customers. 2. The element of familiarity is one that separates it from every other business. The way Snap-on markets its products is completely different. The way the Snap-on van travels around...
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...“WHAT DO MARKETERS DO?” Marketers can be seen as the bridge between an organisation and the community; the many roles of a marketer include focusing on the competition, finding out perhaps why consumer chooses their products over yours. Focusing there efforts on understand your customer base for services and product and evolving accordingly, creating new ideas helping expand the growth of a company, creating a brand. Ensuring good internal communication between all departments is well connected. To put it simpler marketer/marketing departments roles in there organisation are to make help make product/service X more appealing to the consumer base then product Z from another organisation (Rob Engelman, March 2007, “What Does A Marketing Department Do”). Globalisation for a company is a massive step for any organisation. The roots of the first few steps are marketing, a wide range of challenges appear when stepping onto the international scale. The first is simply finding a market need for your product and service; would there even be a consumer base? Cultural difference would be a massive factor, they would you advertise is different, the colour you use would be different, Asian culture the colour red is the colour of good fortune hence why many companies use the colour scheme to help blend in culturally. The time zone differences are a factor, communication could be an issue (Brian Hill, “What Are Some Challenges That Firms Face for International Marketing?”). The key principles...
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...Summary of Marketing Week 1: Chapter 1+8 and 4 Week 2: Chapter 5 and 6 Week 3: Chapter 9 and 10 Week 4: Chapter 3 Week 5: Chapter 11+12, 13 and 14 Week 6: Chapter 15 and 16+18 Week 7: Chapter 19 and 20 Chapter 1 - Marketing now Chapter 3 - Strategic marketing Chapter 4 - The market environment Chapter 5 - Consumer markets Chapter 9. Segmentation and positioning. Chapter 10. Competitive strategy. Chapter 15. Integrated marketing communications strategy. Chapter 19 - Managing market channels - Place Chapter 1 - Marketing now Definition: a social and managerial process by which individuals and group obtain what they want through creating and exchanging products and value with each others. or the process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return. Old, “telling and selling”. Now, satisfying customer needs. Selling happens after product is produced, marketing starts much earlier and helps determining whether a profitable opportunity exists. “The aim of marketing is to make selling unnecessary.” Marketing process: create value for customer 1) Understand customer needs and wants 2) Design a customer-driven strategy 3) Construct an integrated marketing programme that deliver superior value 4) Build profitable relationships and create customer delight capture value from customer 5) Capture value from customer to create profits and customer equity ...
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