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C O N T E N T S
INTRODUCTION
1.DEFINITION OF MARKETING...............................................................................
2.EVOLUTION OF MARKETING..............................................................................
2.1.The production orientation era...................................................................................
2.2.The sales orientation era............................................................................................
2.3.The marketing orientation era.....................................................................................
3.MARKETING PLANNING........................................................................................
3.1.Marketing Planning - Why bother?.............................................................................
3.2.Stages of marketing planning........................................................................................
3.3.Marketing planning: a critique.....................................................................................
4.MARKETING ENVIRONMENT..............................................................................
5.THE MARKETING MIX...........................................................................................
5.1.Products...................................................................................................................
5.2.Promotion................................................................................................................
5.3.Price.........................................................................................................................
5.4.Place........................................................................................................................
5.5.The marketing mix: a critique.................................................................................
6.MARKETING RESEARCH.....................................................................................
7.MARKET SEGMENTATION.................................................................................
8. DIFFERENCE BETWEEN MARKET SEGMENTATION,TARGETING AND
POSITIONING.............................................................................................................
9.CONSUMER BEHAVIOUR...................................................................................
CONCLUSION
REFERENCES
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INTRODUCTION
What image comes to mind when you hear the word “marketing”? Some people think of
advertisements or brochures, while others think of public relations (for instance, arranging for
clients to appear on TV talk shows).The truth is, all of these and many more things make up
the field of marketing. We can defines marketing as planning and executing the strategy
involved in moving a good or service from producer to consumer.
With this definition in mind, it’s apparent that marketing and many other business
activities are related in some ways. In simplified terms, marketers and others help move
goods and services through the creation and production process; at that point, marketers help
move the goods and services to consumers.But the connection goes even further:Marketing
can have a significant impact on all areas of the business and vice versa.
Marketing is the process of creating consumer value in the form of goods, services, or
ideas that can improve the consumer’s life.Marketing is the organizational function charged
with defining customer targets and the best way to satisfy needs and wants competitively and
profitably.Since consumers and business buyers face an abundance of suppliers seeking to
satisfy their everyday
need, companies and nonprofit organizations cannot survive today by
simply doing a good job.They must do an excellent job if they are to remain in the
increasingly competitive global marketplace.This is what we say that survival of the fittest.
Many studies have demonstrated that the key to profitable performance is to know and satisfy
target customers with competitively superior offers.This process takes place today in an
increasingly global, technical, and competitive environment.
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Central to idea of marketing is that individuals have needs and wants that can be met
through the purchase of goods and services.These needs are most obviously physical (food,
drink, shelter), but may also be social (interaction with others and group belonging), and
psychological (self-expression, self-identity).
Now obviously in modern western society most people have enough to eat and drink and
have reasonably safe and secure accommodation, so the focus of much modern marketing is
actually on meeting the "higher order" social and psychological needs.Any particular need
may also be met by a number of different products or services so although absent from the
definitions, "providing choice" becomes a central aspect of modern marketing.
Psychological and social needs can be met through a wide variety of different services and
products, so marketing also ensures competition.For example the ‘need’ to be respected by
others could be met by an expensive luxury car, a designer suit, an adventure holiday, or a
higher degree.Each organisation attempts to produce goods or services that are more effective
at meeting needs.Organistions also attempt to find new ways to meet new needs.
Marketing and the generation of profit
In return for satisfying consumers needs, organisations expect to make a profit.In other
words marketers do not manage solely with the aim of meeting consumer needs, they select
those needs which their oragnisation can meet most profitably.This also suggests that choice
is a key aspect of marketing management.Organisations select what they judge to be the most
profitable markets from all the possible markets they can enter.
Note however that some definitions suggest "oganisational objectives" or "value" rather
than profit.These definitions accept that in the short term at least, organisations might want to
grow their volume of customers at the expense of profit.They also allow the marketing
concept to be applied to a wider range of organisations such as charities and political parties,
where profit is not an objective.
2.EVOLUTION OF MARKETING
In some ways marketing is as old as civilization itself.The concept of marketing that we
now see has more to do with developments during the industrial revolution of the 18th and
19th centuries.This was a period of rapid social change driven by technological and scientific
innovation.One result was that for the first time the production of goods was separated from
their consumption.Mass production, developing transport infrastructure and growing mass
media meant that producers needed to, and could develop more sophisticated ways of
managing the distribution of goods.
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2.1.The production orientation era
For much of the industrial revolution goods were generally scarce and producers could
sell pretty much all that they could produce, as long as people could afford to buy them.Their
focus was therefore on production and distribution at the lowest possible cost and what
marketing management that there was considered these issues (for example, reducing
distribution costs, opening new markets).
2.2.The sales orientation era
From the start of the twentieth century to the period following the Second World War
(although the development was interrupted by the wars) competition grew and the focus of
marketing turned to selling.Communications, advertising and branding started to become
more important as companies needed to sell the increasing outputs of production in an
increasingly crowded market.Marketing was therefore still a 'slave' to production, but
focussed on distribution, communication and persuading customers that one manufacturers
goods were better than anothers.
2.3.The marketing orientation era
From the 1960s onwards most markets have become saturated (the size of the market
remains the same).This means that there is now intense competition for customers.The
sophistication of marketing management has therefore developed into what we now see in a
modern marketing department.Marketers are involved at a strategic level within the
organisation and therefore inform an organisation about what should be produced, where it
should be sold, how much should be charged for it and how it should be communicated to
consumers.Modern marketers research markets and consumers.They attempt to understand
consumer needs (and potential needs) and allocate organisational resources appropriately to
meet these needs.Modern marketers are particularly interested in brands.They are also
increasingly interested in ensuring that employees understand marketing, i.e. that everyone
within the organisation involves themselves with marketing activities.
3.MARKETING PLANNING
Planning is about looking towards the future.It might focus on something in the near
future (next week's sales targets) but more often pays attention to the medium and long term
(1-to-5 years ahead).
3.1.Marketing Planning - Why bother?
Before going through each of the stages of a typical marketing plan it is worth considering
just why they are considered so important:
