Summary
summary - Media Strategies & Marketing (chapter 2)
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summary - Media Strategies & Marketing
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The marketing process – 5-step modelUnderstand Design a Construct an Engage Capture value
the costumer integrated costumers, from
marketplace value driven marketing build costumers to
and costumer marketing program that profitable create profits
needs and strategy delivers relationships and costumer
wants superior value and create equity
costumer
delight
How do companies design their marketing strategies?
They will always be influenced by the general business vision or the general marketing
management orientations.
Marketing Management Orientations
Helps you decide HOW you will reach year customers.
What strategies to implement
What to focus on in your campaign strategy
6 Marketing management orientations
Or concepts
1. Production concept
o ASSUMPTION: Marketing spends are low Costumers will buy our products
anyway if they are affordable & available.
o Companies that believe in this orientation will be very focused on producing
as much as they can; focusing on mass production and distribution.
o Budget products or generic products
, o Origin: the rise of modern capitalism (19th century)
This is a pretty old concept that is still in use today
2. Product concept
o ASSUMPTION: Consumers will buy products that offer good quality &
performance
o Product development, quality, and innovation are important
o Focus on product features only; in advertisements, they will focus on the
features of their products (what it does and how good it is)
o Origin: 1930’s and later (also still being used today)
it is not black or white; some companies use both
3. The selling concept
o ASSUMPTION: Consumers will not buy enough products unless they are
advertised and promoted
o Became popular after the great depression & WW2
All of these companies had a lot of stuff and they just wanted to sell it
o Focus on finding customers for a product and making them buy as much as
possible; they will buy enough if you promote enough
o Used for unsought goods or services
o Competitive market environments
o Aggressive selling techniques – no long-term customer relationships; ‘buy
now’, ‘10% of’ = they just want you to buy not really think it through
4. The marketing concept:
o ASSUMPTION: Knowing the needs and wants of your target market and being
better than the competition is key to your company goals; focus on your
customers’ needs right now
o Knowing and understanding your consumer and delivering value to your
consumer is the key to success; they don’t start from ‘this is my product’
o Focus mainly on current needs, not potential needs of the future.
o 1960’s and later; closer to how we look at marketing today
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