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14 Cards in this Set
- Front
- Back
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Marketing |
The process of planning and executing the conception, pricing, promotion, and distribution of goods, services, ideas, organisations and events to create and maintain relationships that satisfy individual and company objectives. |
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6 Main Tasks of a Marketer |
1. Identify customer needs 2. Design goods/services that meet those needs 3. Communicate information about those goods/services to prospective buyers 4. Make goods/services available at times and places that meet customer needs 5. Price goods and services to reflect costs, competition, and consumers' ability to buy 6. Provide the necessary service and follow up care to ensure customer satisfaction after the purchase. |
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Not-For-Profit Marketing |
-charitable/not-for-profit organisations are becoming more marketing oriented e.g., cancer foundation Is important as it is... -Marketing themselves to sponsors -Managing public opinion -Events marketing |
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Person Marketing |
-People, e.g., celebrities
-Names of these celebrities are becoming more popular to be used as vehicles for the marketing of a wide range of products e.g., music, fashion, perfume, cosmetics, sporting goods.
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UTILITY |
-is created by marketing and consumers, the benefit gained by users of a product/service
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Types of Utility |
-FORM utility -PLACE utility -TIME utility -POSSESSION utility -EXPERIENTAL utility |
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Production Orientation |
-If we make it, they will buy it... -Management focus is on: Improving production efficiency and distribution efficiency Improving product features |
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Selling Orientation |
-If we SELL it right, they will buy it... -Management focus is on: Improving sales techniques Increasing spending on promotion Relatively short term view |
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The Marketing Orientation |
-If we make what they want, they will buy it -Management focus is on... Customer needs and wants Long term success |
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The Social Marketing Orientation |
-If we make what they want in a socially responsible manner, they will buy it -Management focus is on Satisfying customer needs and wants Achieving the organisation's goals While also trying to maintain and improve society |
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The Relationship Marketing Orientation |
-If we build relationships with our customers we can deliver better value to those customers -Management focus is on Getting 'closer' to customers through personalisation, customisation and interaction Also, focus shifts from customers alone to include suppliers and other market players, including competitors |
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Marketing is |
-the whole business, seen from the point of view of its final results from the customers point of view |
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Peter Drucker quote |
"Therefore, business success is NOT determined by the producer, but by the consumer" |
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Every Marketer |
-requires an understanding of the whole organisation in order to make sound business decisions -every organisation needs to by market-focussed, and guided by the market -because without customers you have no business... and marketing is the link between producers and buyers. |
