Marketing Rev

Only available on StudyMode
  • Download(s) : 17
  • Published : May 27, 2013
Open Document
Text Preview
The History of Marketing

Aims:

* The origins and development of the marketing concept
* Definitions of marketing and marketing orientation
* The role of marketing in adding value to the firm
*
Marketing: “Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.” American Marketing Association, 2007 *

* History:
* The Three Eras Model (Keith, 1960)
1870-1930: Production era
* 1930-1950: Sales era
* 1950- : Marketing era
*
* Production Era:
* Demand > Supply = Higher Disposable Income
* Products sold themselves
*
* 1929 - Property Bubble, Economy crashed. (Disposable Income decreased) + WAR! *
* Sales Era:
* Depression – Increased production to close gap between D and S * Need to promote and sell their products. Early forms of market research * Advertising and improved selling techniques
*
* Travelling salesmen – Skilled orators
*
* Marketing Era:
* Increase in Competition
* Tech Innovation – Consumer Affluence (Wealth) Stabilizing * Market Growth slowing – Competition FIERCE
* Consumer Orientated Marketing
*
*
* Marketing Concept:
*
* “Marketing is not only much broader than selling, it is not a specialized activity at all. It encompasses the entire business. It is the whole business seen from the point of view of the final result, that is, from the customer’s point of view. Concern and responsibility for marketing must therefore permeate all areas of the enterprise. There is only one valid definition of business purpose: to create a customer.” *

* Marketing is broader than:
* Selling and the sales role
* A specific and defined organisational function
* Promotion decisions
*
* Consumer-centric
* “…an organisation aims all its efforts at satisfying its customers” * “Selling focuses on the needs of the seller. Marketing focuses on the needs of the buyer.” (Levitt, Marketing Myopia) *

* Understanding and satisfying needs, wants and desires
* A pivotal role of marketing intelligence and research
* All planning starts from the consumer’s point of view *
*
* Marketing ERA:
*
* Creation of consumer segments
* International competition
* Rise of IBM, GM, NESTLE
*
* “Management must think of itself not as producing products, but as providing customer-creating value satisfactions. It must push this idea (and everything it means and requires) into every nook and cranny of the organization. It has to do this continuously and with kind of flair that excites and stimulates the people in it.” * Theodore Levitt

*
* Market – oriented companies focus on customer needs. * Manipulation, propaganda, creation of false needs, consumerism etc *
* Marketing and consumers’ needs
*
* Several products seek to satisfy a variety of consumers’ needs. * For example bottled industry
* Ferrari, Rolex watch and luxury brands
* Maslow theory
*
*
* Marketing Plan
*
* Macro-environment
* Political/legal – EU national laws
* Economic – growth, consumption, global economic trends * Ecological/physical environmental – pollutions, scarce resources * Social/cultural – attitude and lifestyle changes, subcultures. * Micro-environment

* Market – size of the market, trends
* Customers – who are they, age, social class, income, groups * Competitors – identify them, objectives and strategies, strengths * Distributors – channels, physical distribution methods * Suppliers – who are they, access, strengths and weaknesses. *

* Marketing Managers and 4Ps
*
* Involved in:
* New product...
tracking img