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Strategic Marketing Notes
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TIO University HEM3e Isabelle GöbelStrategic Marketing Notes (Exam Powerpoints Study)
/// = Important highlight
/// = Definition
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The scope of marketing is (definition):
- Marketing is an organizational function and a set of processes for creating,
communicating, and delivering value to customers and for managing customer
relationships in ways that benefit the organization and its stakeholders.
The value of marketing is:
1. Financial success often depends on marketing ability.
2. Successful marketing builds demand for products and services, which, in turn, creates
jobs.
What can be marketed?
● Products
● Services
● Events
● Experiences
● Persons
● Cities, places, regions
● Properties
● Organisation
What is the market?
- First the market needs to be
defined, before a marketing
strategy can be developed,
the competition can be
analysed etc.
Developments that are affecting the
marketing:
1. Network information technology.
2. Globalization.
3. Deregulation.
4. Privatization.
5. Mega brands.
6. Retail trade versus web shops.
7. Online companies displace the brokering.
8. Big 5: Google, Apple, Microsoft, Amazon and Facebook ( movie 4 mins).
9. Consumer seeks suppliers and negotiates.
10. Co-creation.
,TIO University HEM3e Isabelle Göbel
Change in market → changes in the (international) market has caused a change in the way
marketing is executed. Customers have changed their behaviour due to:
● Less real differences in products.
● Less brand loyalty.
● Information about everything and easy to get.
● Buyers come together on social networks.
● Consumers influence public opinion via YouTube, Facebook, etc.
Internet developments → developments in the internet have allowed companies to utilize it as a
platform to sell and promote their products. It has allowed:
● Platform for information sharing and sales channel.
● Fast communication via WhatsApp, Twitter, YouTube and other social media channels.
● Influence of blogs and comparison sites.
● Target marketing and two-way communication.
● Online technology offers lower costs and greater service.
● Smart algorithms predict buying behaviour.
Core marketing concepts:
→ marketers identify distinct segments of buyers in order to reach particular target markets and
then positioning themselves within that market
1. Segmenting
2. Target markets
3. positioning
Marketing channels → three main marketing channels
1. Communication channels deliver and receive messages from target buyers and
include newspapers, the Internet etc.
2. Distribution channels help display, sell, or deliver the physical product or service(s) to
the buyer or user.
3. To carry out transactions with potential buyers, the marketer also uses service channels
that include warehouses, transportation companies, banks, and insurance companies.
New marketing realities:
1. Technology: Massive amounts of information and data about almost everything are now
available to consumers and marketers. The old credo “information is power” is giving
way to the new idea that “sharing information is power.” Even traditional marketing
activities are profoundly affected by technology.
2. Globalization: The world has become a smaller place. Globalization has made countries
increasingly multicultural.
3. Social responsibility: The private sector is taking some responsibility for improving
living conditions, and firms all over the world have elevated the role of corporate social
responsibility. Because marketing’s effects extend to society as a whole, marketers must
consider the ethical, environmental, legal, and social context of their activities.
,TIO University HEM3e Isabelle Göbel
Holistic marketing = Holistic marketing acknowledges that everything matters in
marketing—and that a broad, integrated perspective is often necessary. Figure 1.2 can be found
on page 35 of the book.
Relationship marketing = Relationship
marketing aims to build mutually
satisfying long-term relationships with
key constituents in order to earn and
retain their business.
Integrated marketing:
Marketing and programs that create,
communicate, and deliver values such as ‘that the whole is worth more than some of the
individual parts”
Two key themes of integrated marketing are that
1. many different marketing activities can create, communicate, and deliver value
2. marketers should design and implement any one marketing activity with all other
activities in mind.
Internal Marketing = The task of hiring, training, and motivating able employees who want to
serve customers well
, TIO University HEM3e Isabelle Göbel
Performance marketing:
Performance marketing requires
understanding the financial and nonfinancial
returns to business and society from
marketing activities and programs.
The four P’s
Modern marketing:
The new and holistic marketing concept encompasses modern marketing realities: people,
processes, programs, and performance.
1. People reflects, in part, internal marketing and the fact that employees are critical to
marketing success.
2. Processes reflects all the creativity, discipline, and structure brought to marketing
management.
3. Programs reflects all the firm’s consumer-directed activities.
4. Performance captures the outcome measures that have financial and nonfinancial
implications and implications beyond the company itself.
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