What is marketing? Why do companies do it? What impact is it having on people, on the world? This film presents a provocative overview of one of the most lucrative business activities of modern times.
A little bit of history:
In Britain for a long time there simply wasn't a need for marketing, because there wasn't much competition around. But in the 1950s a consumer boom began. Television advertising enabled advertisers to get inside people's homes and revolutionise the way goods were sold. As big name UK companies fell victim to overseas competition, the need for a new emphasis on marketing techniques became clear.
The marketing mix:
The classic definition of marketing is in terms of the "four ps": product, price, promotion and place. But these terms no longer tell the whole story. For example, what about the internet - is it a product, promotion, or place? What is "place" in the brave new world of cyberspace?
Marketing research:
So you buy one product instead of another? Is it because of the packaging? Is it because of where you live? Is it too expensive or too cheap? Companies use marketing research to explore questions such as these? Surveys are used to compile quantitative and qualitative data. Focus groups try to establish how people feel about products. It all seems scientific - but is it?
The brand:
Much of advertising isn't about new products, it's about having an established name - a brand. Why do some brands endure? Why do some brands die? Disney, Levis, Virgin, Nike - why do companies such as these lay so much stress on their brands? And what about Marks and Spencer and Rover - these brands used to mean quality - but what do they mean now?
Globalisation:
Globalisation is about producing products where labour is cheapest and finding new markets. McDonald's wants to sell the same hamburger in every country in the world. The internet, too, seems to be making the world a smaller place to sell to. It all means bigger profits, but what about the downside? Are we all being "Americanised"?
The power of pictures:
In the brave new world of marketing, people are constantly bombarded with images persuading them to buy. But is there a darker side to the glossy advertising? What about the "costs" of consumerism? What about things like pollution, traffic jams and global warming, which seem to threaten the world in which we live?
2006-12-09 09:57:22
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answer #4
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answered by luvdeepgulyani 2
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Marketing is a social and managerial function that attempts to create, expand and maintain a collection of customers. It attempts to deliver demand satisfying output through profitable exchanges.
Marketing, as suggested by the American Marketing Association, is "an organizational function and a set of processes for creating, communicating and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders".[1]
Philip Kotler, in his earlier books, defines marketing as: "human activity directed at satisfying needs and wants through exchange processes". Still another marketing definition, coined by Brian Norris: "The process of repeatedly moving people closer to making a decision to purchase, use, follow, refer, upload, download, obey, reject, conform, become complacent to another person's, society's or organization's value. Simply, if it doesn't facilitate a "sale" then it's not marketing."[2]
Identifying needs/wants and finding and implimenting solutions that satisfy those needs and wants.
Add to Kotler's and Norris' definitions, a response from the Chartered Institute of Marketing (CIM). The association's definition claims marketing to be the "management process of anticipating, identifying and satisfying customer requirements profitably". Thus, operative marketing involves the processes of market research, market segmentation, new product development, product life cycle management, pricing, channel management as well as promotion.
Marketing-"taking actions to define, create, grow, develop, maintain, defend and own markets".
An approach to business that seeks to identify, anticipate and satisfy customers needs.
Al Ries and Jack Trout defined marketing as simply "war" between competitors.
Any activity that connects producers with consumers.
At a macro level, marketing is the process of raising the standards of living, by identifying the existing problems and unsatisfied needs of people and then satisfying that need with a product/service that delivers value to the customer.
Marketing, as suggested by the American Marketing Association, is "an organizational function and a set of processes for creating, communicating and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders".[1]
Philip Kotler, in his earlier books, defines marketing as: "human activity directed at satisfying needs and wants through exchange processes". Still another marketing definition, coined by Brian Norris: "The process of repeatedly moving people closer to making a decision to purchase, use, follow, refer, upload, download, obey, reject, conform, become complacent to another person's, society's or organization's value. Simply, if it doesn't facilitate a "sale" then it's not marketing."[2]
Identifying needs/wants and finding and implimenting solutions that satisfy those needs and wants.
Add to Kotler's and Norris' definitions, a response from the Chartered Institute of Marketing (CIM). The association's definition claims marketing to be the "management process of anticipating, identifying and satisfying customer requirements profitably". Thus, operative marketing involves the processes of market research, market segmentation, new product development, product life cycle management, pricing, channel management as well as promotion.
Marketing-"taking actions to define, create, grow, develop, maintain, defend and own markets".
An approach to business that seeks to identify, anticipate and satisfy customers needs.
Al Ries and Jack Trout defined marketing as simply "war" between competitors.
Any activity that connects producers with consumers.
At a macro level, marketing is the process of raising the standards of living, by identifying the existing problems and unsatisfied needs of people and then satisfying that need with a product/service that delivers value to the customer.
Prior to the advent of market research, most companies were product-focused, employing teams of salespeople to push their products into or onto the market, regardless of market desire. A market-focused, or customer-focused, organization instead first determines what its potential customers desire, and then builds the product or service. Marketing theory and practice is justified on the belief that customers use a product/service because they have a need, or because a product/service has a perceived benefit.
Two major factors of marketing are the recruitment of new customers (acquisition) and the retention and expansion of relationships with existing customers (base management).
Once a marketer has converted the prospective buyer, base management marketing takes over. The process for base management shifts the marketer to building a relationship, nurturing the links, enhancing the benefits that sold the buyer in the first place, and improving the product/service continuously to protect her business from competitive encroachments.
Marketing methods are informed by many of the social sciences, particularly psychology, sociology, and economics. Anthropology is also a small, but growing, influence. Market research underpins these activities. Through advertising, it is also related to many of the creative arts.
For a marketing plan to be successful, the mix of the four "Ps" must reflect the wants and desires of the consumers in the target market. Trying to convince a market segment to buy something they don't want is extremely expensive and seldom successful. Marketers depend on marketing research, both formal and informal, to determine what consumers want and what they are willing to pay for. Marketers hope that this process will give them a sustainable competitive advantage. Marketing management is the practical application of this process. The offer is also an important addition to the 4P's theory.
The big debate in the marketing discipline is whether marketing is an art or a science. Marketing is a technology or set of technologies. Marketing can be neither an art nor a science because arts and sciences only seek to explain natural phenomena. The objective of marketing is to manipulate and influence natural phenomena to create practical unnatural outcomes, specifically to manufacture, grow, sustain and defend markets. Marketers use their knowledge of economics, psychology, sociology, anthropology and strategy to arrange and control the external environment to their advantage and lock in profit
2006-12-09 10:03:34
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answer #9
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answered by Vikram M 2
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