What is marketing?
Marketing is the process of planning and executing conception, pricing, promotion and distribution of ideas, goods and services to create changes that satisfy individual and organization goals.
Marketing mix
Is the overall marketing offer to appeal to the target market. It consist of decisions in four basic areas:
Product
Pricing
Integrated marketing communications
Distribution
Organizational orientations, the marketing concept
production - exists when an organization emphasizes the production function. Production drives the organization. Marketing plays a secondary role because the organization thinks the best-produced products can be easily marketed.
sales - the assumption is that any product can be sold in enough selling effort is given to it. Marketing job is to sell whatever the organization decides to product . Although selling is one component of marketing, organizations driven by a selling philosophy emphasize selling efforts to the exclusion of other marketing activities.
market - suggests that the organization focuses on satisfying the needs of customers. This focus applies to people in the marketing function as well on to those in production, personnel, accounting, finance and other functions. Production and selling are still important, but the organization is driven by satisfying customer needs.
customer
Social marketing concept
Can be defined as a process that facilitates the flew of goods and services from producers to consumers in a society. If society's marketing system is closely related to its political and economic systems
Exchange
Has been defined as the transfer of something tangible or intangible, actual or symbolic between two or more social actions.
Strategic marketing process:
Identifying and evaluating trends
Analyzing market segments and selecting target markets
Positioning
Preparing a formal marketing plan
Executing
Controlling efforts and evaluating results
Competitive advantage
It refers to the way a business tries to get consumers to purchase its products over those offered by competitors:
- price leadership strategy - a business can try to compete by offering similar products and services as competitors but at lower prices
- differentiation strategy - offering consumers something different form and better than competitor products. Consumer are willing to pay
higher prices to receive these benefits
Macroenvironment (can't be controlled)
Physical factors (natural resources, climate)
Sociocultural factors (beliefs, norms, subcultures,
Demographics (size of population)
Science and technology
Economic and competitive forces
Political and legal forces
Microenvironment
Company
Customers
Collaborators
Competitors
SWOT
It is analysis in which we compare weaknesses, strength, opportunity
Dimarketing
TQM (Total Quality Management)