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Slide 1 :
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Definitions of marketing ‘Marketing is the management process that identifies, anticipates and satisfies customer requirements profitably’
The Chartered Institute of Marketing |
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Slide 2 :
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‘The right product, in the right place, at the right time, and at the right price’ Adcock et al |
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‘Marketing is the human activity directed at satisfying human needs and wants through an exchange process’ Kotler 1980 |
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‘Marketing is a social and managerial process by which individuals and groups obtain what they want and need through creating, offering and exchanging products of value with others’ Kotler 1991 |
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Implications of marketing Who are our existing / potential customers?
What are their current / future needs?
How can we satisfy these needs?
Can we offer a product/ service that the customer would value?
Can we communicate with our customers?
Can we deliver a competitive product of service?
Why should customers buy from us? |
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The marketing concept choosing and targeting appropriate customers
positioning your offering
interacting with those customers
controlling the marketing effort
continuity of performance
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Successful marketing requires: Profitable
Offensive (rather than defensive)
Integrated
Strategic (is future orientated)
Effective (gets results) Hugh Davidson 1972 |
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Marketing management process Analysis/Audit - where are we now?
Objectives - where do we want to be?
Strategies - which way is best?
Tactics - how do we get there?
(Implementation - Getting there!)
Control - Ensuring arrival |
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Slide 9 :
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Why is marketing planning necessary? Systematic futuristic thinking by management
better co-ordination of a company’s efforts
development of performance standards for control
sharpening of objectives and policies
better prepare for sudden developments |
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