evolution marketing

7/30/2019 Evolution MARKETING

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Evolution ofmarketing

Marketing

EvolutionBusiness orientation

References


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Marketing

'Marketing' is the craft of

linking the producers (or

potential producers) of aproduct orservice with

customers, both existing and

potential. It is an inevitableand necessary consequence

ofcapitalism.
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Marketing

However marketing is not limited

to capitalist countries. Marketing

techniques are applied in allpolitical systems, and in many

aspects of life. Marketing

methods are informed by manyof the social sciences,

particularly psychology,

sociology, and economics.
http://www.fact-index.com/s/so/social_sciences.htmlhttp://www.fact-index.com/p/ps/psychology.htmlhttp://www.fact-index.com/s/so/sociology.htmlhttp://www.fact-index.com/e/ec/economics_1.htmlhttp://www.fact-index.com/e/ec/economics_1.htmlhttp://www.fact-index.com/s/so/sociology.htmlhttp://www.fact-index.com/p/ps/psychology.htmlhttp://www.fact-index.com/s/so/social_sciences.html


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Marketing

Marketing research

underpins these activities.Through , it is also related

to many of the creative

arts.
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What marketing involves

Contrary to the popular

conception, marketing is

not just about promotion --it can be divided into four

sections, often called the

"four Ps".


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Four Ps

Product - The Product

management aspect ofmarketing deals with the

specifications of the actual good

or service, and how it relates to

the end-user's needs and wants.

Pricing - This refers to the

process of setting a price for a

product, including discounts.

They are:
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Four Ps Promotion - This includes ,

publicity, word of mouth, and

personal selling, and refers to the

various methods of promoting the

product, brand, or company.

Place ordistribution refers to how

the product gets to the customer;for example, point of sale

placement orretailing.
http://www.fact-index.com/p/pr/promotion.htmlhttp://www.fact-index.com/p/pu/publicity.htmlhttp://www.fact-index.com/b/br/brand.htmlhttp://www.fact-index.com/d/di/distribution__business_.htmlhttp://www.fact-index.com/r/re/retailer.htmlhttp://www.fact-index.com/r/re/retailer.htmlhttp://www.fact-index.com/d/di/distribution__business_.htmlhttp://www.fact-index.com/b/br/brand.htmlhttp://www.fact-index.com/p/pu/publicity.htmlhttp://www.fact-index.com/p/pr/promotion.html


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Four PsThese four elements are often

referred to as the marketing mix. A

marketer will use these variablesto craft a marketing plan. For a

marketing plan to be successful,

the mix of the four "p's" must

reflect the wants and desires of

the consumers in the target

market.
http://www.fact-index.com/m/ma/marketing_mix.htmlhttp://www.fact-index.com/m/ma/marketing_plan.htmlhttp://www.fact-index.com/c/co/consumer.htmlhttp://www.fact-index.com/t/ta/target_market.htmlhttp://www.fact-index.com/t/ta/target_market.htmlhttp://www.fact-index.com/t/ta/target_market.htmlhttp://www.fact-index.com/t/ta/target_market.htmlhttp://www.fact-index.com/c/co/consumer.htmlhttp://www.fact-index.com/m/ma/marketing_plan.htmlhttp://www.fact-index.com/m/ma/marketing_mix.html


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Four Ps

Trying to convince a market

segment to buy something they

don't want is extremely expensiveand seldom successful. Marketers

depend on marketing research to

determine what consumers wantand what they are willing to pay

for.
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Four Ps

Marketers hope that this

process will give them a

sustainable competitive

advantage. Marketing

management is thepractical application of this

process.
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Evolution of marketing

Marketing as we know it

today began in the 1970's

with the birth of the"marketing orientation".

During the first stage of

capitalism business had aproduction orientation.
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Business was concerned

with production,

manufacturing, andefficiency issues. By the mid

1950's a second stage

emerged, the salesorientation stage.
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Business's prime concern was

to sell what it produced. By

the early 1970's a third stage,the marketing orientation

stage emerged as businesses

came to realize that consumerneeds and wants drove the

whole process.


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Marketing research became

important. Businesses realized it

was futile putting a lot of

production and sales effort intoproducts that people did not

want. Some commentators

claim that we are now on theverge of a fourth stage, one of a

personal marketing orientation.
http://www.fact-index.com/p/pe/personal_marketing_orientation.htmlhttp://www.fact-index.com/p/pe/personal_marketing_orientation.html


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They believe that the

technology is available today

to market to people on anindividual basis (see

personalized marketing,

permission marketing, andmass customization).
http://www.fact-index.com/p/pe/personalized_marketing.htmlhttp://www.fact-index.com/p/pe/permission_marketing.htmlhttp://www.fact-index.com/m/ma/mass_customization.htmlhttp://www.fact-index.com/m/ma/mass_customization.htmlhttp://www.fact-index.com/p/pe/permission_marketing.htmlhttp://www.fact-index.com/p/pe/personalized_marketing.html


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They feel it is no longer

necessary to think in

broad aggregatedterms like market

segments or targetmarkets.


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Marketing has become an

academic discipline in

itself, with tertiary

degrees in the field now

routinely awarded.


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Masters and Doctrinal degreescan be obtained in numeroussubcategories of marketing

including: Marketing Research,Consumer Behaviour,International Marketing,Industrial Marketing (also called

b-to-b marketing), ConsumerMarketing (also called b-to-cmarketing), Product

Management, and e-Marketing.
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Marketing orientation

A marketing oriented firm

is one that allows the

wants and needs of

customers and potential

customers to drive all thefirm's strategic decisions.


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The firm's corporate culture is

systematically committed to

creating customer value. Inorder to determine customer

wants, the company usually

needs to conduct marketingresearch.
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The marketer expects that

this process, if donecorrectly, will provide the

company with a

sustainable competitiveadvantage.
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extensive use of marketing

research

broad product lines emphasis on a product's

benefits to customers rather

than on product attributes

A marketing oriented firm will

typically show the following

characteristics:
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use ofproduct innovation

techniques

the offering of ancillory services

like credit availability, delivery,

installation, and warranty
http://www.fact-index.com/n/ne/new_product_development.htmlhttp://www.fact-index.com/n/ne/new_product_development.html


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The concept of marketing

orientation was developed

in the late 1960's and early

1970's at Harvard

University and at a hand-full of foward thinking

companies.


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It relaced the previous sales

orientation that was prevalent

between the mid 1950's andthe early 1970's, and the

production orientation that

predominated prior to the mid1950's.
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Marketing Management

Marketing management is the

practical application ofmarketing

techniques. It is the analysis,

planning, implementation, andcontrol of programs designed to

create, build, and maintain

mutually beneficial exchangeswith target markets.
http://www.fact-index.com/m/ma/marketing.htmlhttp://www.fact-index.com/m/ma/marketing.htmlhttp://www.fact-index.com/m/ma/marketing.htmlhttp://www.fact-index.com/m/ma/marketing.html


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The marketing manager

has the task of influencing

the level, timing, andcomposition ofdemand in

way that will achieve

organizational objectives.
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Involves

Understanding the economic

structure of your industry

Identify segments within your

market

Identifying your target market

Do marketing research to

develop profiles (demographic,

psychographic, and behavioural)

of your core customers
http://www.fact-index.com/m/ma/market_segment.htmlhttp://www.fact-index.com/m/ma/marketing_research.htmlhttp://www.fact-index.com/m/ma/marketing_research.htmlhttp://www.fact-index.com/m/ma/market_segment.html


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Involves

Understand your competitors

and theirproducts

Develop new products

Establish environmental

scanning mechanisms to detect

opportunities and threats

Understand your company's

strengths and weaknesses
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Involves

Audit your customers'experience of yourbrand in full

Develop marketing strategies foreach of your products using themarketing mix variables ofprice,

product, distribution, andpromotion

Create a sustainablecompetitive advantage
http://www.fact-index.com/b/br/brand.htmlhttp://www.fact-index.com/m/ma/marketing_mix.htmlhttp://www.fact-index.com/p/pr/pricing.htmlhttp://www.fact-index.com/p/pr/product__business_.htmlhttp://www.fact-index.com/d/di/distribution__business_.htmlhttp://www.fact-index.com/p/pr/promotion.htmlhttp://www.fact-index.com/s/su/sustainable_competitive_advantage.htmlhttp://www.fact-index.com/s/su/sustainable_competitive_advantage.htmlhttp://www.fact-index.com/s/su/sustainable_competitive_advantage.htmlhttp://www.fact-index.com/s/su/sustainable_competitive_advantage.htmlhttp://www.fact-index.com/p/pr/promotion.htmlhttp://www.fact-index.com/d/di/distribution__business_.htmlhttp://www.fact-index.com/p/pr/product__business_.htmlhttp://www.fact-index.com/p/pr/pricing.htmlhttp://www.fact-index.com/m/ma/marketing_mix.htmlhttp://www.fact-index.com/b/br/brand.html


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Involves

Understand where you want

your brands to be in the future,

and write marketing plans on aregular basis to help you get

there

Setup feedback systems to help

you monitor and adjust the

process


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References

This Presentation is based

onFact Index

Adaptationby

Finntrack
http://www.fact-index.com/index.htmlhttp://www.fact-index.com/index.htmlhttp://www.finntrack.com/http://www.finntrack.com/http://www.fact-index.com/index.htmlhttp://www.fact-index.com/index.html

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