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32 Cards in this Set
- Front
- Back
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Marketing |
Organisation focuses on meeting customer needs with right product, at right price, right place, right time |
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Marketing Gaps |
Space Time Information Ownership Value |
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Space Gap |
Distance exists between manufacturer and consumer |
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Time Gap |
Gap exists between manufacturing of a product and consumption of product e.g Easter eggs |
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Information Gap |
Customer must know about product in order to consume it |
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Ownership Gap |
To complete an exchange, ownership must change. e.g when a car is purchased |
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Value Gap |
Value lies in what buyer is prepared to sacrifice for the product |
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Intermediaries |
Middlemen Sales Intermediaries Auxiliary enterprises |
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Middlemen |
Directly involved in taking title of products that are later sold to others E.g PEP Stores |
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Sales Intermediaries |
Do not take title of product, they advertise products and are paid for this |
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Auxiliary Enterprises |
Not involved in in transfer of title but provide support services to help the selling process |
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Marketing Activities |
activities used to transfer product or service to buyer. This includes Primary, Auxiliary and Exchange activities |
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Primary Marketing Activity |
Transport, to deliver product to consumer in quickest and safest way |
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Auxiliary Marketing Activities |
Additional services: *Sourcing and Supplying info *Standardization and Grading *Storage *Financing *Risk Taking |
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Sourcing and Supplying Info |
SELLER must know who and where potential Customers are, info can be obtained by market research, thereafter communicate with these buyers through advertising |
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Standardization and Grading |
Products must conform to norms and standards, this helps the buying process, helps buyer choose best product between all the varieties. |
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Storage |
This activity closes the TIME GAP. Seasonal products are stored to ensure regular supply throughout the year |
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Financing |
Costs are incurred when transferring products from seller to buyer, these costs must be financed |
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Risk Taking |
Owner of product is exposed to risk of loss/damage. Risk is carried by both seller and buyer |
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Exchange Marketing Activities |
Buying and Selling |
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Marketing Orientations |
Production Sales Marketing Social Responsibility |
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Production Orientation |
*Produce products in sufficient quantities *Reasonable price *Main focus producing/manufacturing *Products will sell themselves *Wants and needs of customers ignored |
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Sales Orientation |
*Realized they produced more than could be consumed *Main Aim: Maximize sales volume *Sell as much as possible at any cost *Assumption High sales=Profitability *Selling products and services regardless of if they are needed |
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Marketing Orientation |
*Meeting needs of customers *Satisfying needs of customers *Make a profit in the process *Marketing begins and ends with customer *Should consider community in which it operates |
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Four Principles of Marketing Orientation |
1. Customer Orientation 2. Profit Orientation 3. Systems Orientation 4. Social Responsibility |
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1.Customer Orientation |
*Actions aimed at satisfying customer wants and needs *Customers are focal point of decision making *Task not complete after sale, provides after sale service - Check on satisfaction *What can be done to enhance satisfaction |
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2.Profit Orientation |
*Customer orientation achieves true goal - Profit *Providing product that meets needs = Achieve product goal |
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3.Systems Orientation |
*Group of units who work together to achieve joint objective *all departments work together *Activities of business should be co ordinated |
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4. Social Responsibility |
*Businesses are part of larger society in which they exist *Owe their success to society *Demonstrate Social responsibility by spending lots of money on projects contributing to the well being of society *Responsibility towards welfare of employees |
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Green Marketing |
*Example of Social Responsibility *Go to great lengths to let consumers know their products are environmentally friendly *Promotion of products and services based on environmental factors *Incorporates broad range of activities: -Product modification -change production process -packaging changes -alternative distribution -modified advertisements |
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Relationship Marketing |
Identify core customers, establish relationships, maintain and enhance these relationships, terminate if necessary *Main focus development, maintenance and expansion of long term relationships *Acknowledges different marketing strategies must be used to get and keep customers |
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Extended Market in relationship marketing |
Maintaining close relationships with the following groups: 1. Current Customers 2. Potential Customers 3. Suppliers 4. Potential Employees 5. Reference Groups 6. Influencers 7. Current Employees |
