Marketi
CHAPTER 1
ng
KNOWLEDGE VIDEO 1+2+3
Market A place where transactions happen, the place doesn’t need to be a physical place think about
Amazon, Ebay, etc.
Examples:
Stockmarket
Housemarket
Marketing has different tasks
1. Identify the needs and wants of the target market
2. To cater to demand with a customer-driven marketing policy (you will play in by the needs and wants
of the target market by using the tools that you have available)
Products Services
Tangible Intangible
Imperishable Perishable (It will not last for long & cannot be
stored)
Separable Inseparable (consumed at the moment when it’s
been provided)
Homogenous Heterogenous
1.1
Difference between marketing and selling
Selling Trying to get rid of what you have on the shelves
Marketing Making sure that what you have on the shelves is what the customer wants, then the product
will sell itself
Marketing is the process of developing, pricing, promoting and distributing products, services or ideas that are
tailored to the market
(Service) marketing mix The four P’s
The four P’s (marketing mix) 4 C’s (consumer perspective)
Product Goods, services or ideas that meet Customer solution: the
the wants and needs of the customer solution for the customer
such as the physical product but also
, The four P’s (marketing mix) 4 C’s (consumer perspective)
the packaging, brand image, and
customer service.
Price The amount of money exchanged for Cost: value for money
a product or service.
Place How the company gets its product Convenience: ease for the
into the buyers’ hands such as the customer
number of sales outlets, best forms
of transportation.
Promotion The supplier’s activities to Communication: between the
communicate with the market and organization and the customer
to promote sales such as advertising,
sponsorships, sales promotion.
(People) Which people are involved? How is
the interaction between the service
provider and the service consumer
such as selection, training, customer
instruction
(Process) How is the service delivered?
(Physical evidence) Everything tangible around a service
The 4 C’s model is an alternative model which suggest that marketing is not a technique to sell a product (P),
but a philosophy to win the customer (C) and their loyalty
1.2
Target market A group of customers that an organization concentrates on
Customers Loyal consumers who will make repeat purchases
The origins of marketing date back to the era of bartering when goods were exchanged for other goods
MARKETING CAN BE CONDUCTED AND STUDIED ON DIFFERENT LEVELS:
Micromarketing The marketing problem of an individual company (organizational level)
Macromarketing The influence marketing policies, strategies, and objectives have on the economy
and society as a whole. (for example, macro marketing refers to how the 4 P’s create demand for
goods and service, and thus influence what products or services are produced and sold) (contextual
level)
Mesomarketing Mesomarketing lies between macro and micro marketing. It refers to collaborating
organisations in the supply chain, consists of market forces such as suppliers, competitors, distribution,
supply & demand (transactual level)
Supply chain The series of persons and organizations involved in the production, distribution and
consumption of products and services.
Sector Companies that perform the same function in the production of trade of a certain product
, Branch/industry A group of organizations that is similar in its production techniques and end products
Example the food industry in the retail sector
A marketing manager looks through the eyes of the consumer
1.3 DEVELOPMENT OF THE MARKETING MINDSET
Production Product Selling Marketing Relationship
orientation orientation orientation orientation marketing
(1900-1930) (1930-1950) (1950-1960) (1960-1980) (1980-now)
“A good product will sell Buyers market the
itself” buyers were in a
stronger position
It was a typical seller’s
than the suppliers
market, where suppliers
because supply
or sellers had the upper
exceeded demand
hand to the detriment
(ten koste van) de
klanten
A market-oriented companies consider not only customers, but also intermediaries and competitors, in making
business decisions at all levels of the organization.
A product-oriented approach consists of three stages: setting up the financing and organization, making the
product and selling the product
The main difference between those two is that market-oriented companies want to make profit by satisfy their
customer needs and wants and build relationships with them. The selling orientation want to make profit
through maximizing sales volume
THE SOCIETAL MARKETING CONCEPT
