College aantekeningen
Highlightend points of attention for the marketing exam by teacher
- Instelling
- Hanzehogeschool Groningen (Hanze)
Don't underestimate the exam. Last years' mock exam was way easier than the real exam! Good luck.
[Meer zien]Voorbeeld 3 van de 10 pagina's
Voorbeeld 3 van de 10 pagina's
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Voorbeeld van de inhoud
MarketingThe difference between marketing and selling is the difference between a society
in which consumers can choose from products and services designed to meet
their specific needs and wants, and a society in which people have very little if
any choice.
Marketing is building a bridge between production and consumption
selling is 'trying to get rid of what you have on the shelves'. While marketing is
'making sure that what you have on the shelves is what the customer wants'.
An effective marketing strategy consists of a clever combination of four
marketing elements that are used to tackle the market. Referred to as the
marketing mix, if you change one of them this may have consequences for the
other three.
Product
Place (distribution)
Price
Promotion
The four R's have become dissatisfiers. Here are the four R's:
Reputation (build up brand image)
Relationship (communicate and interact with consumers leads to customer
loyalty)
Revenue (promote transactions and grow by individualizing the supply for
customers)
The evolution/history of marketing
Production Product Selling Marketing Relationship
orientation orientation orientation orientation marketing >>
>> >> >> >>
Production and product oriented companies:
A production-oriented company does everything possible to make its
production process highly efficient. The production concept was the most
common business philosophy. By concentrating on merchandising and increasing
production, entrepreneurs were able to greatly reduce the cost of their products.
They reasoned that if a product was inexpensive and widely available, it was
bound to sell. With an acute shortage of raw materials machinery and production
facilities, there was little change in the managerial mindset.
One difference, was that manufacturers shifted their attention from the
production process to the product itself. Once the product concept was adopted
in this area, the main objective became to improve quality. 'a good product will
sell itself'. Despite this product-oriented market approach, sales flourished,
primarily because demand exceeded the limited supply. It was a typical sellers'
market, in which the suppliers or sellers had the upper hand.
In most industries the production- and product-oriented phases of
management philosophy lasted only for a brief period. Greater prosperity gave
rise to a buyers' market, in which the buyers were in a stronger position than the
,suppliers because supply exceeded demand. Entrepreneurs then tightened their
focus on selling and began to use aggressive techniques to dispose of their
products.
Even with the shift to the selling concept, the company itself was still seen as the
point of departure. Its technical knowledge and experience determined what was
produced, while the sales staff tried to stimulate sales.
Faced with greater consumer buying power and greater competition,
companies finally learned that they had to tailor their products and services to
meet the needs and wants of the buyers more effectively. The market concept is
the basic idea of marketing. Market-oriented companies consider not only
customers, but also intermediaries and competitors in making business decisions
at all levels of the organization. This is the crucial distinction between a market-
oriented and a product or selling-oriented market approach.
One of the most recent developments in the changing orientation of
companies is the rise in relationship marketing. Similarly companies are working
to strengthen long-term relationships with suppliers. In relationships marketing
each transaction is only one of the links in the chain between the company and
its customers, this can considerably strengthen the relationship between the two
parties.
The marketing concept is an attitude or mindset in which the needs and wants of
customers are factored into virtually every decision The marketing concept is
based on six principles:
1. Customer satisfaction
2. Integrated approach
3. Broad business definition
4. Competitive analysis
5. Marketing research and target market selection
6. Emphasis on profit contribution rather than sales
Marketing environment
A company does not operate in a vacuum, but in a complex environment.
Marketing can be conducted and studied on different levels. If we are considering
those who make the marketing decisions in a company, we are referring to
micromarketing. This means looking from the point of view of the individual
company.
When developing a marketing strategy, the manager must consider the
company's internal capabilities and limitations. These capabilities and limitation
are internal as they are imposed by the organization itself. The internal
environment consists of the resources available to implement the strategic plan
and the various department of functional areas in the company. It also includes
the corporate culture.
The external environment involves all of the uncontrollable influences and groups
that originate outside the organization. However, in an environmental analysis we
only consider relevant environmental forces, in other words, those that influence
the company's performance and ultimately, its results. When exploring the
external environment, European analysts and managers make a distinction
between influences that stem from the immediate external environment, the
meso environment, and those that stem from the macro environment.
, The meso environment is essentially the (branch of) industry or market in
which the company operates. It is the immediate environment in which the
marketer and firm interact with customers, suppliers, intermediaries, competitors
and public groups or stakeholders.
The macro environment
The conditions and developments a company faces in society as a whole,
the macro environment, also guide its approach to the market and help
determine its profitability. Macro environmental factors differ from the rest of the
marketing environment in that a company can neither control nor influence them.
Macro environmental factors are the factors in the DESTEP analysis.
Public groups
These are individuals companies and other organizations that influence, and are
affected by, the way in which a firm achieves its objectives. Because this
influence can be both positive and negative, companies strive to develop and
maintain good relations with their public groups.
The main public groups are:
Financial institutions
The media
The government
Interest groups
- protestors are not a public group!
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