Marketing is a philosophy that leads to the process by which organizations, groups and individuals obtain what they need and want by identifying value, providing it, communicating it and delivering it to others. The core concepts of marketing are customers’ needs, wants and values; products, exchange, communications and relationships. Marketing is strategically concerned with the direction and scope of the long-term activities performed by the organization to obtain a competitive advantage. The organization applies its resources within a changing environment to satisfy customer needs while meeting stakeholder expectations.
2 Outline the many activities included in marketing.
Marketing practice tended to be seen as a creative industry in the past, which included advertising, distribution and selling. Its core activities are identifying and selecting customer value, providing the value, communicating the value, and delivering the value.
3 Determine the marketing orientation and value positioning of companies.
A sales orientation predominantly reflects a production approach whereby something is produced and the risk is to sell it thereby increasing consumption. In contrast, a marketing orientation approach attempts to determine ways of offering superior value to the more profitable segments without damaging individual customer relationships. It also reflects an integrated approach based on research and feedback
4 Highlight marketing’s social and environmental responsibility.
* Relationship between marketing and the environment
* Take social consequences of decisions and actions into account – also beyond legal requirements * Be trustworthy
WHY?Greater involvement of business with government and higher influence of stakeholders – social responsibility is an investment in the future profits