Resumen
Summary Marketing 35801 unit 1 - 5
- Grado
- Marketing (35801)
- Institución
- Universitat De Valencia (UV)
Marketing class 35801 unit 1 -5
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TOPIC 1THE ROLE OF MARKETING IN THE COMPANY: STRATEGIC IMPORTANCE, CONCEPTS AND
EVOLUTION
1.1.- The role of marketing in the strategic planning of the company
1.2.- The marketing process and the creation of the value proposition
1.3.- Strategic marketing, operational marketing and digital marketing
1.4.- Integral management of the marketing effort: the marketing plan
1.5.- Ethics in marketing
1.1.- The role of marketing in the strategic planning of the company.
Strategic planning: the process of developing and maintaining an adjustment between the objectives of
the company and the changing opportunities of the environment
→ - Analysis, planning, organization, execution and control tasks
- Adaptation of the company's resources and capacities to the environment in which it operates
- Gaining a competitive advantage
Strategy: set of actions carried out by a
company to achieve a competitive
advantage sustainable over time and
defensive against competition
Competitive advantage → Why do
costumers buy from this company? →
Ability to compete by offering a differential
value.
- By product differentiation
- Cost leadership
Definitions of marketing:
- Orientation of the company towards the satisfaction of
the consumer;
- Management of techniques that help the company
meeting the needs and desires of consumers.
The role of marketing in the company:
• Analysis of what consumers need and want
• Analysis of competitors' activities
• Coordination of the company's departments,
favouring the dissemination of information between production, marketing, finance, human
resources, etc.
* Strategic management without a strong marketing component can lead to the development of business
skills poorly adapted to consumer needs
Marketing does:
- Enables the relationship between the company and the environment
- Connects production and consumption
- Organizes the company-consumer exchange
In short: Marketing facilitates the exchange of value between the parties
,Production approach: Customers prefer available and very affordable products. Demands high
production, efficiency and mass distribution.
Product approach: Customers will prefer higher quality products with innovative features. Demands
continuous product improvement.
Sales approach: Customers will only buy products that are heavily promoted. It assumes that customers
will be happy with the product.
*Marketing approach: Focuses on meeting the needs and desires of consumers.
*Social marketing approach: The marketing strategy must offer value to the consumer in the short term,
aiming at his or her well-being in the long term.
1.2.- The marketing process and the creation of the value proposition
MARKETING IS ALL ABOUT CREATING VALUE FOR CUSTOMERS
Customer-driven strategy → customer is core – create loyalty to be successful in a long-term view
Understand the marketplace & customers needs
What is the market →Market is the set of people who are current and potential buyers of a product.
Needs → States of perceived deprivation:
• Physical: food, clothing, safety
• Social: belonging and affection
• Individual: knowledge and personal expression
Wants → The forms that the needs adopt as they are nuanced by culture and personality. Examples:
• Need to drink, want CocaCola
• You need to drink, you need water
Demands → Wants backed by purchasing power
Needs are naturally their – but marketing is creating a desire/want
Design a customer driven marketing strategy
Market supply Combination of products, services, information or experiences presented to potential
buyers to satisfy a need or desire → Products of all kinds, banking services, airlines, hotel reservation
services (booking.com), cars, applications → Failure to pay more attention to the products or services
than to the experiences or needs they satisfy → Marketing MYOPIA
Marketing focuses more on the need that the product satisfies. Customer is always looking for the
benefit!
Value proposition: try to make our customers to be aware of our services.
, Construct an integrated marketing program that delivers superior value
Competition: The company must offer a value of superior to that of the competition.
Superior → better than the other products of competitors.
4 p’s or marketing mix: tools that a company uses compete to deliver value to the market.
Price → cheaper
Product → better in terms of quality
Promotion → good communication is key to success (especially if you have a similar product for almost
the same price)
Place → faster, better in terms of distribution
Key issues: how the consumer views marketing variables → 7 P’s & 4 C’s
Build profitable relationships and create customer delight
Customer Relationship Management: Global process of creating and maintaining profitable relationships
with customers, providing value and satisfaction... superior to those of the competition
1.3. Strategic marketing, operational marketing and digital marketing
Strategic marketing methodology whose objective is to identify market opportunities as a basis for
company growth.
- It is a methodology that seeks to understand the needs of consumers and assess the potential of both
the company and the competition to obtain a sustainable competitive advantage over time.
- Segmentation + Differentiation = Positioning
Operational marketing set of activities aimed at marketing a product in accordance with the chosen
strategy
- It involves the design, execution and control of a marketing plan for the previously selected strategy with
the aim of conquering existing markets.
- Combination of marketing mix variables
Digital Marketing
"Application of Internet and related digital technologies, along with traditional communication axes, to
achieve marketing objectives"
Mobile Marketing
"Management of marketing activities through mobile phones (smartphones) and tablets"
* The consequences of the adoption of a technology by the consumer, rather than the adoption of the
technology itself, must be taken into account
B2C relations → Business to costumer
User Generated Content UGC → Company to client & Client to company
C2C relations → Client tot client to company tot client
MARKETING ELEMENTS TO TAKE INTO ACCOUNT IN THE ONLINE ENVIRONMENT
Types of channels (media channels):
OWN MEDIA: media that are owned by the company
The company controls this traffic... and it's free!
PAID MEDIA: media in which the company pays for visitors, conversions, publications, leads, etc.
The company controls this traffic... but it costs them money!
EARNED MEDIA: provide audience through WoM, conversations in RRSS, blogs, other community sites,
etc., and content exchanges that can be produced online or offline
The company does not control this traffic: it can monitor it and try to influence it
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