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Principles of Marketing Summary, all chapters
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Summary of all chapters of principles of marketing for a digital age.
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Principles of Marketing for a Digital Age - Summary
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Summary Principles of Marketing for a Digital Age, ISBN: 9781526423344 Marketing Principles
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Summary principles of marketing_Tracy L. Tuten Open book exam HU
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Chapter one: understanding marketingPrivate-label brands are manufactured by a third party but under the retailer’s brand.
Each marketing era’s orientation mirrors the stage of the industrial revolution it follows.
Industry 1.0: introduced mechanization and factories powered by steam so they could produce
more. There was more demand to products than there was supply. Marketing’s production era
followed a production orientation that emphasized functional benefits and offered little alternatives.
Industry 2.0: The moving assembly lines increased supply and this resulted in more competition. The
selling era was marked by marketers’ adoption of a selling orientation, which valued persuasion as a
way to push products and convince potential buyers.
Industry 3.0: saw the development of computers and robotics and marked an age of information.
The marketing concept era began. The marketing concept is a philosophical orientation focused on
achieving organizational goals by identifying and meeting the needs of target markets, and doing so
better than competitors. The shift from the selling orientation to the marketing concept captured:
“The aim of marketing is to make selling superfluous. The aim of marketing is to know and
understand the customer so well that the product or service fits her and sells itself”
In the 1970’s, demand for services increased and thought leaders recognized society as a marketing
stakeholder. The result was the societal marketing concept and several related marketing
approaches, including social marketing, cause marketing, cause-related marketing, corporate
philanthropy, and corporate social responsibility (CSR).
Phillip Kotler was for a shift to the societal marketing concept, saying that it is 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 in a way that preserves or enhances
the consumer’s and society’s well-being”.
In an effort to better capture marketing’s competing priorities, Kotler and Keller later proposed the
holistic marketing concept. This includes four marketing dimensions:
1) relationship marketing
2) integrated marketing
3) internal marketing
4) performance marketing
, Marketing Across the Stages of the
Industrial Revolution
features definitions of these
and other types of marketing
that have since developed.
Internet of things (IoT)
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