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Summary chapter 1 Marketing Fundamental by Bronis Verhage. 2nd Edition
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Summarychapter
1
Marketing
Fundamental
By
Bronis
Verhage
2nd
edition
Chapter
1
-‐
What
is
marketing?
Contents
1.1 The
meaning
of
marketing
1.2 Levels
of
marketing
systems
1.3 Development
of
the
marketing
mindset
1.4 The
marketing
concept
1.5 Tasks
of
marketing
in
a
company
1.6 Marketing
applications
and
preview
of
the
text
Learning
goals
1. Explain
what
marketing
means.
2. Compare
macro
marketing,
mesomarketing
and
micromarketing.
3. Discuss
which
management
philosophies
dominated
in
business
over
time
and
how
they
influenced
the
production
and
marketing
of
goods
and
services.
4. Describe
the
marketing
concept
ad
how
it
can
be
used
in
practice.
5. Explain
the
strategic
importance
of
a
company’s
sound
reputation
and
its
on-‐
going
relationships
with
customers.
6. Understand
different
forms
of
marketing
and
how
the
marketing
fundamentals
are
applied
in
those
situations.
©
Stan
Meuwissen
Zuyd
University
of
applied
sciences
,1.1 The
meaning
of
marketing
Competition
is
steadily
increasing
within
Europe,
as
well
as
from
outside
the
EU.
And,
while
the
new
rules
in
the
business
sector
may
vary
from
one
industry
or
company
to
another,
one
thing
is
certain.
In
the
face
of
extensive
and
rapid
change,
the
implementation
of
an
effective
marketing
strategy
is
more
essential
than
ever
before.
Consumers
and
other
buyers
always
want
higher
quality,
lower
prices
and
better
service.
Aggressive
competitors
try
to
increase
their
market
share
through
constant
innovation
and
product
improvement,
and
by
satisfying
their
customers’
needs
and
wants
as
effectively
as
possible
on
all
fronts.
To
survive
and
to
operate
profitably
all
organisations
must
practice
marketing,
and
they
must
adapt
their
marketing
strategies
to
keep
pace
with
market
changes.
Some
think
that
marketing
is
a
modern
form
of
selling,
or
that
it
is
simply
another
word
for
advertising.
Selling
and
advertising
are
indeed
important
marketing
functions,
but
marketing
involves
much
more.
It
includes
a
great
number
of
other
activities
that
enhance
an
organisation’s
ability
to
satisfy
the
needs
and
wants
of
its
customer
effectively,
thereby
strengthening
its
position
in
the
market.
These
other
activities
include
market
research
and
product
development.
Market
research:
To
identify
the
desires
of
(potential)
customers,
for
example,
or
to
size
up
the
competition.
Product
development:
The
process
of
developing
and
launching
attractive
products
based
on
an
accurate
insight
into
the
market.
In
all
of
this,
one
thing
is
clear.
Marketing
is
not
an
exact
science
that
offers
a
standard
solution
to
each
problem.
To
make
effective
marketing
decisions,
we
must
be
familiar
with
the
principles
and
techniques
of
marketing.
The
meaning
of
marketing.
Marketing
is
a
broad
subject.
It
includes
all
the
activities
that
bring
buyers
and
sellers
together.
Marketing
=
To
anticipate
and
satisfy
the
needs
and
wants
of
the
customer.
©
Stan
Meuwissen
Zuyd
University
of
applied
sciences
,Four
senior
managers
said
the
following
about
marketing
in
their
organisation:
-‐ Nothing
has
more
influence
on
the
success
of
this
company
than
marketing.
Our
rapid
growth
is
primarily
due
to
a
well-‐developed
marketing
strategy.
-‐ Market
research
and
marketing
are
indispensable
in
this
industry,
particularly
since
the
buying
behaviour
of
customers
is
constantly
changing.
-‐ We
are
known
as
a
dynamic
and
progressive
company.
Our
international
expansion
was
the
result
of
a
pure
marketing
decision.
Marketing
is
central
in
our
planning.
-‐ When
I
talk
about
marketing
planning,
I
am
talking
about
the
selection
of
the
right
markets
and
products
in
other
words,
the
most
fundamental,
strategic
choices
our
company
has
to
make.
Marketing
builds
a
bridge
between
production
and
consumption.
The
differences
between
selling
and
marketing.
Selling:
to
get
rid
of
what
you
have
on
the
shelves.
Marketing:
make
sure
that
what
you
have
on
the
shelves
is
what
the
customer
wants.
The
purpose
of
marketing
is
to
get
know
and
understand
the
customer
so
well
that
the
product
is
precisely
what
the
customer
wants.
A
definition
of
marketing.
Think
of
Heineken
for
example,
which
markets
not
only
lager,
but
also
bock
beer,
white
beer,
low-‐calorie
and
other
types
of
beer.
The
brand
Heineken
consists
of
different
types
of
names
and
brands,
so
consumers
can
always
drink
their
favourite
beer
at
home
and
in
bars.
The
brewery
conducts
marketing
research
to
find
out
which
outlets
sell
its
products
and
what
kinds
of
beer
different
groups
of
consumers
prefer.
As
a
marketing-‐
oriented
company
Heineken
also
makes
sure
that
its
many
products
are
sold
in
the
right
stores,
that
the
prices
are
neither
too
high
nor
too
low
and
that
potential
byers
know
what
kinds
of
specialty
beers
are
available
at
different
times
of
the
year.
So
marketing
requires
not
only
an
appropriate
product,
but
also
the
right
type
of
distribution,
the
right
price
and
the
right
kind
of
promotion.
Together
these
factors
make
up
the
so-‐called
marketing
mix.
If
any
of
these
four
elements
is
lacking,
a
product
will
not
achieve
the
sales
and
profit
objectives
as
listed
in
its
annual
plan
or
marketing
plan.
Not
only
will
the
company
fail
to
maximise
sales
and
profits,
the
target
market
(the
potential
buyers
for
whom
the
product
was
intended)
will
probably
be
left
with
unsatisfied
needs
and
wants.
©
Stan
Meuwissen
Zuyd
University
of
applied
sciences
,The
marketing
Mix
The
marketing
mix
consist
of
the
four
Ps
(Product,,
Price,
Place,
and
Promotion).
The
marketing
mix
variables
are
closely
related
to
one
antoher.
If
we
change
one
of
them,
this
may
have
consequences
for
the
other
three;
essentially
it
creates
an
entirely
new
mix.
Product
Goods,
services
ore
ideas
that
meet
the
wants
and
the
needs
of
the
customer.
Besides
the
physical
product,
this
P
includes
other
factors
that
determine
which
brand
a
person
buys,
such
as
the
warranty,
packaging,
brand
image,
product
range
and
customer
service.
Price
The
amount
of
money
exchanged
for
a
product
or
service.
Are
some
buyers
prepared
to
pay
a
higher
price
for
a
more
refined
product,
and
who
are
they?
Is
a
discount
necessary?
Place
(distribution)
How
the
company
gets
its
product
into
the
buyers’
hands.
Distribution
strategy
is
concerned
with
decisions
about
which
distribution
channels
and
intermediaries
(the
wholesale
and
retail
trade)
should
be
used,
the
number
of
sales
outlets,
the
necessary
stock
levels
and
best
forms
of
transportation
(physical
distribution).
Promotion
The
supplier’s
activities
to
communicate
with
the
market
and
to
promote
sales.
Promotion
or
marketing
communication
includes
advertising,
sponsorship,
sales
promotion,
direct
marketing,
and
personal
selling
and
public
relation
activities,
including
free
publicity.
©
Stan
Meuwissen
Zuyd
University
of
applied
sciences
, A
well
thought-‐out
marketing
mix
increases
the
change
of
success.
However,
because
it
is
impossible
to
devise
and
implement
a
marketing
strategy
satisfying
the
needs
of
all
consumers,
companies
must
concentrate
on
the
desires
of
a
specific
group
of
potential
buyers.
This
group
of
consumers
is
known
as
the
target
market.
Target
market:
The
specific
group
of
potential
buyers.
(Your
target)
Customers:
Loyal
consumers
who
will
make
repeat
purchases.
Exchange
transaction:
Exchange
process
between
buyer
and
seller.
1.2 Levels
of
marketing
systems
The
origins
of
marketing
date
back
to
the
area
of
bartering,
when
goods
were
exchanged
for
other
goods.
Bartering
was
an
exchange
‘in
kind’.
That
is
to
say,
no
money
changed
hands,
and
those
involved
in
the
exchange
were
only
interested
in
products
they
wanted.
In
the
21st
century
bartering
is
still
important
form
of
(international)
trade
in
many
countries
and
one
that
calls
for
a
market-‐oriented
approach.
Micromarketing:
If
we
talk
about
marketing
decisions
in
a
company.
The
focus
of
micromarketing
is
the
individual
firm.
Macromarketing
If,
rather
than
looking
at
marketing
from
the
point
of
view
of
the
individual
company,
we
see
it
–
at
a
broader
level
–
as
a
process
that
must
function
effectively
for
a
society
as
a
whole
to
realise
its
economic
objectives,
we
are
talking
about
macromarketing.
At
this
level
the
role
of
marketing
is
described
only
in
general
terms.
After
all,
when
it
comes
to
macromarketing,
we
are
primarily
interested
in
the
system
that
a
society
has
developed
to
arrange
the
exchange
of
goods
and
services
to
ensure
that
its
scarce
resources
will
meet
its
need
as
effectively
as
possible.
The
new
media,
satellite
connections
and
means
of
transport,
marketing
functions
are
implemented
more
efficiently
than
ever.
Mesomarketing
All
the
activities
developed
by
several
collaborating
organisations
within
a
supply
chain
or
sector
to
match
supply
ad
demand
and
meet
a
certain
need,
in
order
to
realise
their
shared
marketing
objectives.
The
term
mesomarketing
can
be
used
for
the
collective
activities
or
organisations
in
specific
sector
(such
as
insurance
companies)
or
of
companies
with
a
common
interest
(such
as
retailers
in
the
same
shopping
centre).
It’s
also
used
to
refer
the
collective
marketing
of
certain
types
of
products
(such
as
flowers
or
meat).
©
Stan
Meuwissen
Zuyd
University
of
applied
sciences
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