MARKETING
Marketing Management Assignment 1
201226218H Cheung Yik Fung
Consider Porter’s value chain and the holistic marketing orientation model. What implications do they have for marketing planning? How would you structure a marketing plan to incorporate some of their concepts?
Porter’s value chain has two parts. First is the primary activities which cover the inbound logistics, operations, outbound logistics, marketing and sales, service. Second is the support activities which include procurement, technology development, human resource management, and firm infrastructure.
In order to practice it for marketing planning, the firm should estimate its competitors’ costs and performances, go further and study the “best of class” practices of the world’s best companies and examine its costs and performance in each value-creating activity and look for ways to improve it.
Holistic marketing orientation model is a part of the series on concepts of marketing and it can be defined as a marketing strategy which considers the business as a whole and not as an entity with various different parts. With the rise in competition and the limits placed on customers with finite financial resources, decisions will be scarce and as an organization we have to implement holistic marketing so that decisions are made by customers in our favor. In general , it has three parts for marketing planning, they are value exploration, value creation and value delivery.
Porter’s model focuses on achieving the competitive advantages over its competitors by the amount of value it creates relative to its competitors but Holistic marketing orientation model is interconnected marketing activities to ensure that the customer is likely to purchase their product rather than competition. For a marketing plan to incorporate some of their concepts, I would create a firm structure which develop the whole parts in average, including competitive advantage. For example, if I would manage a supermarket, the
201226218H Cheung Yik Fung
Consider Porter’s value chain and the holistic marketing orientation model. What implications do they have for marketing planning? How would you structure a marketing plan to incorporate some of their concepts?
Porter’s value chain has two parts. First is the primary activities which cover the inbound logistics, operations, outbound logistics, marketing and sales, service. Second is the support activities which include procurement, technology development, human resource management, and firm infrastructure.
In order to practice it for marketing planning, the firm should estimate its competitors’ costs and performances, go further and study the “best of class” practices of the world’s best companies and examine its costs and performance in each value-creating activity and look for ways to improve it.
Holistic marketing orientation model is a part of the series on concepts of marketing and it can be defined as a marketing strategy which considers the business as a whole and not as an entity with various different parts. With the rise in competition and the limits placed on customers with finite financial resources, decisions will be scarce and as an organization we have to implement holistic marketing so that decisions are made by customers in our favor. In general , it has three parts for marketing planning, they are value exploration, value creation and value delivery.
Porter’s model focuses on achieving the competitive advantages over its competitors by the amount of value it creates relative to its competitors but Holistic marketing orientation model is interconnected marketing activities to ensure that the customer is likely to purchase their product rather than competition. For a marketing plan to incorporate some of their concepts, I would create a firm structure which develop the whole parts in average, including competitive advantage. For example, if I would manage a supermarket, the