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Samenvatting - marketing management
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summary of all parts of marketing management with examples and explanations of definitions
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PART 1 : FUNDAMENTALS OF MARKETINGTHE SCOPE OF MARKETING
Marketing goals : finding customer needs and satisfy them better than the competition
Definition : marketing management : the art and science of choosing target markets and
getting, keeping, and growing customers through creating, delivering and communicating
superior customer value
BUILDING A CUSTOMER-ORIENTED ORGANIZATION
WHAT CAN BE MARKETED?
- Ideas
Pagina 1 van 70
,THE NEW MARKETING REALITIES
THE CHANGING FACE OF MARKETING … - MCKINSEY
CHANGING REALITIES RESULT IN NEW MARKET ENVIRONMENT
Online information, search on the go, share opninons and express
loyalty on social media, actively interact with companies, reject
marketing communication, sharing economy
Personalization through internet, collect fuller information, rach
consumers quickly and efficiently through social media, improve
recruiting and training of employees
Deregulation, pricatization, retail transformation, disintermediation &
reintermediation, private labels, mage-brands crossing the borders of
their industry
Pagina 2 van 70
,HOW TO COOP WITH THESE NEW REALITIES?
HOLISTIC MARKETING APPROACH
= a strategy that looks at
the big picture, considering
everything about marketing,
both inside and outside a
company, to create a unified
and consistent experience
for customers. It focuses on
understanding and meeting
customer needs while also
considering broader social
and ethical impacts.
Ex:
Patagonia, known for
outdoor clothing and gear,
practices holistic marketing by creating sustainable products, pricing them based on
quality and sustainability, selling through various channels, promoting environmental
initiatives, fostering relationships with stakeholders, implementing sustainable practices,
and showcasing its values in stores and online.
Read page 38-42
HOLISTIC MARKETING INFLUENCING MARKETING TACTICS
4P’s : product, price, promotion, place
Pagina 3 van 70
, THE EXTENDED MARKETING MIX
The marketing mix is a model that encompasses the core elements of marketing:
product, price, place, and promotion. It has evolved into the extended marketing mix,
which includes people, process, and physical evidence. Each element plays a crucial role
in shaping the overall marketing strategy of a company. For example,
McDonald's utilizes a diverse product range, competitive pricing, various distribution
channels, and extensive promotional tactics to cater to evolving consumer preferences.
Additionally, they focus on customer service, efficient processes, and physical evidence to
ensure a successful marketing strategy.
THE ROLE OF MARKETING IN THE ORGANIZATION
5 PHILOSOPHIES TO LOOK AT THE ROLE OF MARKETING DEPARTMENT
1. Production concept : consumers will favour products that are cheap and available
2. Product concept : consumers will favour products that offer most quality,
performance, and innovative features
3. Selling concept : consumers will not by enough of the firm’s products unless it
undertakes selling and promotion efforts
4. Marketing concept : understand consumers’ needs and deliver better value than
competitors
5. Market-value concept : every functional area of the company should be actively
focused on creating value for the customers, the company and its collaborators
ORGANIZING THE MARKETING DEPARTMENT
DIFFERENT WAYS TO ORGANIZE THE MARKETING DEPARTMENT
Pagina 4 van 70
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