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Summary - Advanced Marketing
- Cours
- Advanced Marketing
- Établissement
- Vrije Universiteit Brussel (VUB)
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SAMENVATTINGADVANCED MARKETING
CHAPTER 1: MARKETING
CONCEPTUALIZATION
Marketing
- = the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings
that have value for customers, clients, partners, and society at large
- = the management process of anticipating, identifying and satisfying customer requirements profitably
Marketing as an exchange process
Marketing is described as a two-way (dyadic) process, meaning a mutual process of value exchange between organisations
and customers:
A distinction is made between different forms of marketing:
- Non-profit marketing: such as with charities and government organisations
- B2C (business-to-consumer) and B2B (business-to-business) marketing: aimed at consumers and businesses
respectively
It also discusses that marketing is not only focused on products, but also on services, experiences and even ideas.
Marketing and Misconceptions
Several misconceptions about marketing are addressed:
- Marketing is not just sales: It includes strategies for creating value, customer relationships, and brand building, not
just transactions.
- Marketing is not just advertising: While advertising is an important component, marketing includes much broader
activities such as product development, customer analysis and strategic market research.
- Marketing is not exclusively for profit: Non-profit organisations such as museums, government agencies and
hospitals also use marketing to create awareness, recruit volunteers, and raise funds.
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,Costumer is not necessarily also consumer:
- Customer: buyer, purchaser, patron, client, shopper → eg, mother buys toys
- Consumer: uses the product, service → eg, child plays with toys
→ Especially essential in B2B markets: where the buyer is often not the one actually consuming the product.
PUSH VS PULL MARKETING
- Push marketing: actively pushing the product through the
chain towards consumers, often through promotions and
distribution channels.
- Pull marketing: creating demand by attracting consumers
with marketing messages, with consumers then asking for
the product
POSITION IN BUSINESS SOCIETY
HISTORICAL DEVELOPMENT OF MARKETING
The historical growth of marketing will be described, which began in the early 20th century and has evolved since then. Some
key milestones include:
- 1920s: Marketing really began to take shape as a field.
- 1930s: The introduction of self-service supermarkets in the US.
- 1980s and later: Evolution towards social marketing and focus on sustainable practices.
Marketing historians (such as Keith and Fullerton) show that marketing concepts were visible early in history in sectors such
as mass consumption and insurance, leading to today's focus on consumerism and sustainability.
MARKETING MANAGEMENT FILOSOFIES
Six major marketing philosophies are outlined, reflecting the development of the field:
- Production concept (production): focused on production efficiency and distribution (1890-1915s).
- Product concept (quality): fused on quality and product improvement (1915-1920s).
- Sales concept (sales): use of personal selling and advertisements to push products (1930-1950s).
- Marketing concept (need): focus on customer needs and competitive advantage (1950-1980s).
- Social marketing concept (environment): combining customer satisfaction and social responsibility (1980s-present).
- Sustainable marketing concept (future): future-oriented focus on sustainability and corporate social responsibility.
These philosophies show the shift from a focus on production and sales to focusing on customer and social interests.
PORTER’S VALUE CHAIN
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,Michael Porter's value chain = means of understanding how value is
created within an organisation. This model helps companies identify which
activities contribute to their competitive advantage and improve their
customer value. It emphasises that a strong marketing strategy can help
companies position themselves better and serve customers more
effectively.
POSITION IN ACADEMIA
In academia, marketing is approached from different disciplines, making for a multifaceted view of the field:
- Economics: studies supply and demand, pricing, and income distribution, which supports marketing strategies.
- Psychology: focuses on consumer behaviour, such as motivations, attitudes, and decision-making processes.
- Sociology: analyses group behaviour, demographics and culture, which influence consumer trends.
- Anthropology: examines subcultures and habits, allowing marketing to better respond to specific cultural values.
This multidisciplinary foundation helps marketers understand customer behaviour and market dynamics more deeply and
develop more effective strategies.
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