Theories of Marketing Summary Articles & Lectures 2023/2024
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Course
Theories of Marketing (6314M0185Y)
Institution
Universiteit Van Amsterdam (UvA)
Grade: 8.0 The exam of theories of marketing exist consists of 5 topics divided into 2 main topics: strategy & behaviour. I have summarised the corresponding lectures and all articles based on the exam distribution. This summary gives you a good overview for the exam at once. Good luck! :)
TOPIC 1 - MARKETING THINKING
1985: marketing is about distributing goods and exchanges. Spreading awareness about
your product.
2011: marketing is about creating value for customers,organization ets. We start with the
customer and then we go back in the value chain.
From market share to waller share (how much your target group spends on your in the
category). From transaction & product driven to relation & value driven.
Marketing concept = organizational purpose to identify and satisfy needs and desires of
customers; create value and satisfy.
Two main marketing decisions
1. Segmentation = understanding customers behavior; who will be your customer
a. needs/desires, effects/reaction, research techniques
2. Value differentiation = creating customer value = marketing strategy
a. value and innovation, branding, customer relationship
Marketing development, different stages
Product-centric: mass market
Customer-oriented: social needs
Value-driven:
Digital-driven: whole experience
Art 1: Narver & Slater (1990)
Market orientation = organizational culture that most effectively and efficiently creates the
necessary behavior for the creation of superior value for buyers, long term superior
performance.
Cultural mindset
- Customer orientation
- Competitor orientation
- Inter-functional coordination
2 criteria:
- Long term focus
- Profitability
MO positive effect on business profitability
Non-commodity business: unique, linear effect. Investing in MO allows them to understand
their segment better, differentiating.
Commodity businesses: standardized, U-shaped effect. Fully embracing MO allows them to
unlock additional profit potential and higher returns.
1
, Art 2: Slater & Narver (1998)
Total MO = responsive MO + proactive MO
Responsive MO (customer-led)
- Expressed needs
- Responsive
- Short-term
- Customer surveys/focus groups
- Stable environment
- Satisfaction & relationship
- Responsive MO can lead to success in stable environment, not in dynamic
- Tyranny of the served markets: managers only look at their current customer.
Proactive MO (market-oriented)
- Latent needs
- Proactive
- Long-term
- Lead-user, experimentation
- Turbulent environment
- Innovation & unserved markets
- MO is essential for succes
Art 3: Homburg (2017)
Customer experience = someone's responses (behavioral, sensorial, effective, cognitieve,
relational) to a brand by living through a journey of touchpoints, continually comparing
previous experiences.
Good CE may enhance customer loyalty.
Customer experience management (CEM) is the development of a network-oriented value
proposition. 3 tiers:
- Cultural mindset - focus on CE
- Experiential response orientation
- Touchpoint journey orientation
- Alliance orientation
- Strategic decisions - design strategies to improve CE, focus on the whole journey
- Firm capabilities - continuously renewal CE; deliver new improved CE
Focus on the whole journey!!!
Network-oriented value proposition!!! creating value within a networked environment (e.g.
nespresso)
Company ambidexterity = exploitation & exploration
CEM builds upon the foundation of MO and marketing concept
2
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