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Summary of the book Concepts and Strategies written by Sally Dibb et al. 7th edition. The summary contains a lot of pictures from the book.
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Marketing mix: the tactical 'toolkit' of the marketing programme; product, place/distribution,promotion, price and people variables that an organization can control in order to appeal to the
target market and facilitate satisfying exchange.
CH1 The marketing concept
Introduction
Marketing's primary aim is the identification of target markets and the satisfaction of these
customers, now and in the future. Effective marketing involves an analytical process combining
marketing analysis, strategizing and the creation of marketing programmes designed to implement a
designated marketing strategy. Marketing opportunity is a pivotal part of marketing, involving the
determination of emerging and existing market opportunities and the choice of which to address. At
the heart of a marketing strategy is the formation of a target market strategy and a basis for
competing in order to focus on the opportunities prioritized by the organization.
Marketing defined
Marketing: Activities that facilitate and expedite satisfying exchange relationships in a dynamic
environment, through the creation, distribution, promotion and pricing of goods, services and ideas.
Marketing is a function and a set of processes for creating, communicating and delivering value to
customers and for managing customer relationships in ways that benefit the organization and its
stakeholders. Marketing is a noun. An organizational function and a set of processes for creating,
communicating and delivering value to customers and for managing customer relationships in ways
that benefit the organization and its stakeholders.
Marketing environment: External changing forces within the trading environment: laws, regulations,
political activities, societal pressures, economic conditions and technological advances.
Knowing how to group customers sensibly into homogeneous market segments; determining which
to target; selecting a suitable positioning; and seeking superiority over rivals, are some of the core
elements of marketing strategy.
The tactical aspects of marketing programmes - often referred to as the marketing mix – must be
well managed, monitored and controlled to ensure their successful execution and performance.
Marketers should understand their markets - customers, competitors, market trends - as well as their
own capabilities and performance before developing marketing programmes. Analysis first, then
strategy decisions with, finally, the formulation of marketing programmes: the ASP of the marketing
process.
Certain core ingredients of the various definitions collectively indicate the basic priorities of
marketing:
• Satisfying customers
• Identifying/maximizing marketing opportunities
• Targeting the 'right' customers
• Facilitating exchange relationships
• Attracting and retaining rewarding customers
• Staying ahead in dynamic environments
• Endeavouring to beat and pre-empt competitors
• Utilizing resources/assets effectively
• Increasing market share
• Enhancing profitability or income
, • Satisfying the organization's stakeholders
Marketing facilitates satisfying exchange relationships
For an exchange to take place, four conditions must exist.
• Two or more individuals, groups or organizations must participate
• Each party must possess something of value that the other party desires
• Each party must be willing to give up its 'something of value' to receive the 'something of
value' held by the other party.
• The parties to the exchange must be able to communicate with each other to make their
'something of value' available.
The marketing process
Marketing process: Analysis of marketing conditions, the creation of an appropriate marketing
strategy, the development of marketing programmes designed to action the agreed strategy and,
finally, the implementation and control of the marketing strategy and its associated marketing
programmes.
Marketing knowledge enhances consumer awareness
Understanding marketing leads to the evaluation of the corrective measures - such as laws,
regulations and industry guidelines.
The marketing concept and its evolution
According to the marketing concept, an organization should try to provide products that satisfy
customers' needs through a coordinated set of activities that also allows the organization to achieve
its goals.
,The evolution of the marketing concept
Production era: the period of mass production following industrialization
Sales era: the period from the mid-1920s to the early 1950s when competitive forces and the desire
for high sales volume led a company to emphasize selling and the sales person in its business
strategy
Marketing era: the period in which product and aggressive selling were no longer seen to suffice if
customers either did not desire a product or preferred a rival brand, and in which customer needs
were identified and satisfied - the era of customer orientation.
Relationship marketing era: in which the focus is not only on expediting the single transaction but on
developing ongoing relationships with customers to maintain lifetime share of wallet. 1990s. There is
a move away from transaction-based marketing and towards nurturing ongoing relationships.
The digital era: these developments have created an entirely new domain for marketers, known as
digital marketing.
Social marketing: uses tools and techniques from commercial marketing to make interventions which
encourage positive behavioural changes.
Critical marketing: involves challenging orthodox views that are central to the core principles of the
discipline.
The essentials of marketing
Marketing personnel need access to good quality marketing intelligence about the following issues:
• Customers
• Competitors
• Marketing environment forces
• The organization's capabilities, marketing assets and performance
Marketing strategy
A marketing strategy involves the selection of new opportunities to pursue and current activities to
support, identification of associated target markets and competitive positioning, and the creation of
appropriate value propositions and customer engagement plans, in order to deliver the specified
performance goals in the corporate strategy.
When marketing managers attempt to develop and manage marketing activities, they must deal with
three broad sets of variables:
• Those relating to the marketing mix
• Those inherent in the accompanying target market strategy
• Those that make up the marketing environment
Effective marketing requires that managers focus on four tasks to achieve set objectives:
• Marketing opportunity analysis
• Target market selection
• Marketing mix development
• Marketing management
, Marketing environment forces
Marketing environment forces affect a marketer's ability to facilitate and expedite exchanges, in four
general ways:
• They influence customers by affecting or regulating their lifestyles, standards of living,
preferences and needs for products.
• Marketing environment forces help determine whether and how a marketing manager can
perform certain marketing activities.
• Environmental forces may affect a marketing manager's decisions and actions by influencing
buyers' reactions to the company's marketing mix
• Marketing environment forces may provide an organization with a window of opportunity over
rivals that fail to notice the market development or that take no action themselves.
Marketing programmes
Marketers increasingly refer to the promotion variable in the marketing mix as 'marketing
communications'.
Marketing management
Marketing management is the process of planning, organizing, implementing and controlling
marketing activities to facilitate and expedite exchanges effectively and efficiently. Marketing
planning is a systematic process of assessing opportunities and resources, determining marketing
objectives, developing a marketing strategy and constructing plans for implementation and control.
Marketing planning and the management of the execution of the resulting marketing plan are
intrinsic aspects of marketing management.
An effective control process has the following four requirements:
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