The marketing studies is comprehensive and surrounded with so much criticism. As Hackley (2009) mentioned, “an intriguing feature of marketing studies is that it has developed many new forms of research and exploration but has yet remained, in its most popular guise, a resolutely one-dimensional problem-solving discipline. (Hackely, 2009, p.45)”. Besides, he also pointed out that “an outline of some specific criticisms of managerial Marketing’s concepts might provide a more concrete point of departure for a critical marketing studies (Hackely. 2009, p.6)”. And so as for this topic would focus on the critique point of marketing concept.
When we link to the marketing concept, the philosophy would depict according to which an organization can
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However, the good thing is that organizations always can learn from the previous, and the marketing is like a big container with full of new ideas in. Be more specific to say, there are some stories to share in a successful environment of marketing. The first to be mentioned is the culture marketing, according to the analyse by Jing Liu (2013), Galanz group opened a new market for microwave ovens, and for digging into the market, the group carried out a large-scale of promotion for spreading the knowledge of microwave ovens, for achieving this goal, they compiled the world’s most comprehensive microwave recipes called “The use of microwave ovens and recipes of 900 cases” and “How to choose a microwave”, and more importantly they gave these for free with a number of hundreds of thousands numbers, so that Galanz make itself deeply rooted into the market, and create a dominant market share. Moreover, Jing Liu (2013) also discovered that there are much more types of marketing strategy, such as featured marketing, limited marketing etc. Therefore within such massive container, there should store a number of multi or various way to tackle the problem for an organisation, only grasp a single …show more content…
The marketing discipline could be solved with one-dimensional way by guiding the organization find out what the customer wants through marketing concept, but either the organization could make the use of variety of marketing strategies which just referred above as a prescription for success. Listen more than you talk, conclude by Dan Kaplan, and the point is convincing. An organisation cannot live for providing a single way to fulfil their customers, because the idea or the needs of customer is update in every single day, it is unwise to change the strategy just whatever the customer wants, they have to measure every dimension and hear the voice from all sides. And It is quite a hard question for a contemporary organisation, to consider expand to a multi-dimension way of marketing things but stick as
A characteristic of the marketing concept is customer orientation. Business activities are mostly engaged to produce a satisfied customer. They are there to Stress on the desires and wishes of a customer this keeps businesses on track with their target market. The best marketing decisions are completed on the foundation of making a massive impact in the market and towards customers. The consumers/people
Successful marketing strategies are very important as it determines whether the organizations can materialize the benefits and strengths of their products and improve their revenue and profitability. Marketing strategies are heavily impacted by the external opportunities and weaknesses, as well as the internal strengths and weaknesses of the organization. Based on this information, companies have to segment the big market into small segments and divide their products into homogeneous batches to target each segment separately. Furthermore, the organizations have to design important marketing mix, including product, price, place, and promotion to make sure that their products are well received by the customers. All of these aspects are very important for organizations realize the potential from their products and achieve the competitive advantages in the competitive market.
Marketing In this day and age is vital for a company to perform at its possible best. Marketing’s main focus is to give great satisfaction to a customer. There are many aspect of marketing, these aspects give marketer’s the tools to help strive for the best possible success they can achieve. They hope that they can create exposure for their brand, product or service.
The type of marketing management philosophy employed by the Geoffrey B. Small Company is the societal marketing orientation. While working on providing for the customers’ needs and wants they are also concerned for the customers’ and the society’s long term concerns. They are conscious for quality and material so that they do not provide inferior material while charging for superior products but they are also concerned for the environment. They are thinking of giving back to the society in the long term in every
Recently I watched a T.V. show called The Profit and recognized some similarities from the current Marketing chapter discussed in class. The current episode was about a company called Bentley’s Corner Barkery, which is committed in providing all-natural pet food and treats for their customers. The episode highlighted how Bentley’s Corner Barkery was struggling and not reaching all of their potential customer base because of its marketing structure among other poor managing and financial elements. Before Marcus Lemonis (he is the investor) the company marketing strategy was the quality of product will attract customers. Marcus Lemonis immediately ask for the company’s mission statement and help the owners identify their target customers by segmentation.
A marketer doesn’t just have a plan. Marketers now open up to a wider strategic plan and it’s based on steps that balance out what the market is offering consumers. These marketers must analyze their production with these steps, then make a portfolio of the growth and even their down falls therefore this keeps these marketers to continuously innovate and create even a greater amount of value for their customers. Marketing management functions are discussed along with the marketing mix and strategy.
Kotler, p & Keller, K. (2006). Marketing Management (12th Ed). New Jersey: Pearson Education, Inc.
Marketing is a very broad term, which encompasses all the activities that help businesses in identifying their customers and needs of their target market, utilising all the communication resources in order to target their target market, eventually persuading them to purchase the organisations products and services. It is much broader than the concept of selling, as selling just includes techniques of direct communication used to persuade the customers to buy the products and services of an organisation. In fact, sales are the integral part of marketing. Marketing also helps organisations to utilise all resources in an efficient way to gain customer satisfaction, which will eventually help in the growth of the company. While, on one hand, marketers tend to focus on the needs and preferences of the customers, they also need to keep a close eye on their competitors (Gillespie, 2010). Companies always look to beat down their competition with providing better products and/or services, or by providing less-expensive goods to the customers than their competitors, in order to achieve or maintain the leading position in the industry. The core focus of this paper is to identify and discuss the core aspects how managers could maintain the marketing activities of the organisation in the global context.
According to this, it is obvious that the objective of marketing is to satisfy demand of customers by those ‘individual and organizational activities’ like promotion or pricing of goods, which are all just means to achieve that. Additionally, organizations could stand out from their competitors once they meet the needs of customers better than others. Thus, it can be said that the successful marketing is to provide competitive advantages for organizations by doing better in satisfying customers’ desires through products and other marketing activities.
For example Safaricom has definied their business broadly by not only being in the telecommunication industry but also in the banking industry. They have continued to reinvent themselves according to their customers’ demands. As they introduced mobile money Mpesa, a need arose for consumers to be able to pay for services and products using their mobile phones and Safaricom then introduced Lipa na Mpesa and then the customers needed somewhere they could save and borrow money and introduced M- shwari. The following strategies should be adopted by marketing professionals to adopt and avoid being
“Marketing is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.” (AMA, 2007)
Marketing is very important to the success of a business. Before people can buy a product or service they have to know about it. However, marketing entails more than just letting people know what your company has to offer. Throughout this paper, I will define marketing, offering my personal definition as well as more formal definitions from other sources. Furthermore, I will explain to the reader the importance of marketing to organizational success giving real world examples in support of this explanation. The field of marketing can include many things. I believe, however, the most important thing which it should include is communication with customers as to the value and benefits of using that particular company's products and services. It should help to establish the business's niche in the industry and distinguish it from other such businesses.
A good definition of marketing is the process of the intermediary function between product development and sales. (Reddy ) The field of marketing entails taking a generic product or generic service (the product or services do not have to be “generic” they may be actually unique to the marketplace) and associating the generic product with a brand name (Petty 2001). Under this generic concept are the activities of advertising, public relations, media planning, sales strategy and so on.
Marketing is a core pillar of an organization and contribute significantly in its prosperity through attaining the laid down targets as well as scope of development. The position of an organization is hugely based on its competitiveness and capacity to capture a significant portion of the market in relation to the prevailing needs of consumers. Interaction of the organization with the consumers and the potential consumer in the market arena is attained through the marketing wing of the organization (Ferrell& Hartline, 2012). The preferences of the consumer and avenues of satisfaction are aligned to the established marketing frameworks. However, the success of organization marketing is highly inclined to the marketing strategies formulated and adapted towards coping with competition and eventually enhancing firm competitiveness.
The main topic for this Extended Essay is to analyze the effectiveness of company’s market strategy. A marketing strategy can be defined as a process that helps a business to optimize the opportunities in order to complete business objectives, which mainly gain profits. It includes all basic and long-term field activities of marketing that deal with the analyzing of initial strategy, evaluation of the strategy, and making of a new strategy if the initial strategy is found to be ineffective or even might cause loss. (Homburg, Kuester and Krohmer 2009) To make sure the effectiveness of marketing strategy, its crucial to establish the right marketing mix which cover all the element needed in marketing a product. (Clark, et al. 2009)