Summary
Summary BMAT SUMMERY CHEM 301
- Course
- Institution
It contain content of chem 301 As-A2 specification 09-10
[Show more]
Seller
Follow
Eddytheexcellent
Content preview
Specimen examination questions and suggested approach and solution relatingto each chapter
Chapter 1 Development of a strategic approach to marketing – its culture; internal macro-
and external micro-environmental issues
The meaning of the term ‘marketing’ remains an area of confusion in the minds of many. As a marketing
practitioner, explain the implications and the real meaning of marketing. Show how this can be
distinguished from selling.
Objective
This question aims to assess your basic understanding of the marketing concept and the depth and
range of matters with which it is concerned.
Approach
You should clearly distinguish between marketing as a business philosophy and the role of
marketing as a functional area of management, and include some explanation of these two
elements. The answer should then be developed so as to draw a distinction between
‘marketing’ and ‘selling’. To achieve this, some detail as to the basic tenets of each approach
will be necessary. Remember that in this context ‘selling’ refers to the conceptual orientation of
a firm towards its customers.
The question, therefore, calls for a balanced answer covering each of the following:
1. The marketing concept;
2. Marketing as a function;
3. A distinction between marketing and selling.
As the question is fairly wide ranging, you will not have time to include too much detail about
any one part, say ‘marketing as a function’, which could in fact form the basis of a question in
its own right.
Although you must imply knowledge of how marketing has evolved, the question does not
require a description of the origins and development of marketing. This information is
irrelevant to the question and its inclusion would not only waste your own time, but it would
display to the examiner a misunderstanding of the question.
Marks would probably be assigned on the basis of one-third for each part of the answer. Assign,
therefore, an equal amount to each part.
,Answer
Suggested introduction
Numerous definitions exist which attempt succinctly to describe the scope and meaning of marketing. It
has been described as a human activity directed at satisfying needs and wants through the exchange
process. This is perhaps marketing at its most abstract level. In reality marketing is a management
process that holds that the orientation of a company should be towards the customer’s point of view. As
customers are the sole source of revenue for any business, if follows that attention to their needs and
wants is a likely recipe for success.
The understanding of marketing is considerably aided once it is appreciated that the terms implies both
a business philosophy or frame of mind and a specialized functional area of management. The former
implication is referred to as the ‘marketing concept’.
Explanation of the concept
1. Customer orientation. The first premise of the marketing concept is that the wants and needs of
customers should be the focus of all company activity. The company is, therefore, governed by its
customers’ requirements, rather than purely by its production or technical facilities.
2. An integrated management function. Acceptance of the concept implies that a customer orientation
should be adopted, by, and permeate, the company as a whole; thus, whatever the specialized
functional area (transport, finance, etc.), an outlook directed towards the market-place should be of
paramount importance. In particular it is vital that higher management ensures that this ‘marketing
orientation’ is effectively communicated and understood throughout the company.
3. The need for profits. This aspect of the marketing concept concerns the need for a company to be
profit directed. Implicit in this need is the recognition that a company’s resources are finite: the aim of
management is to achieve satisfactory returns whilst operating within the framework of its resource
constraints. As has been suggested, the customer orientated approach is a good basis for long-term
profitability.
4. A systematic approach. The management role of identifying and anticipating customer requirements
is axiomatic. A scientific element is, therefore, encompassed within the marketing concept. This means a
systematic planning process, based upon marketing research which leads to a marketing strategy with
distinct objectives. The whole process must be continuously monitored and a built-in control system
established. Allied to the recognition of company constraints, the strategic nature of marketing
emphasized the need for realism in the setting of objectives. Strategic planning, by definition, also
implies that marketing is directed at the long term. A formal planning system is not, however,
synonymous with rigidity; the key strength of any company it its ability to adapt over time to the
dynamic nature of the marketing environment.
Marketing as a function
The marketing concept identifies the strategic nature of marketing. Strategic plans are realized by the
specialized function of marketing management, plans are realized by the specialized functions of
, marketing management, i.e. the management of customer demand. These functions have been
categorized as being the elements of the marketing mix (i.e. the ‘four Ps’) as described below:
Product Branding; Quality of performance;
Labelling;
Packaging;
Attributes.
Price Level;
Discounts;
Credit;
Discrimination
. Promotion Advertising;
Sales promotion;
Publicity;
Direct marketing;
Public relations;
Personal selling
. Place Physical distribution and logistics;
Channel management.
These are the tools which marketing management uses to translate plans into action. It is important to
understand that while they are mutually interdependent, management affords varying levels of
emphasis to each of these elements. In this way a company’s marketing mix can be tailored to its
strategy and then fine tuned according to developing market conditions.
Marketing v. selling
It is apparent from the foregoing that marketing has far greater ramification than a management
approach which focused merely on ‘selling’. Some firms still retain an approach which is centred around
sales. A direct comparison between ‘selling’ and ‘marketing’ attitudes illustrated how radically the two
approaches can differ. A ‘selling’ orientation assumes that:
• The company’s main task is to get sales for its products
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Eddytheexcellent. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $13.63. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
77254 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now