An Overview of Marketing Marketing the activity set of institutions and processes for creating communicating and exchanging offerings that have value for customers clients partners and society at large Outcome of marketing people giving up something for something else Marketing Management Philosophies Production orientation focuses on internal capabilities of the firm rather than on the desires and needs of the marketplace o Does not consider whether the goods and services of the firm effectively meet the marketplace Sales orientation ideas that people will buy more goods and services if aggressive sales techniques are used and that high sales will result in high profits o Marketing means selling goods and getting money o Sometimes employees do not understand customers needs needs Marketing orientation social and economic justification for an organization s existence is the satisfaction of customer wants and needs while meeting organizational objectives o Marketing concept focuses on customer wants and Integrates organizations activities to satisfy wants o Marketing oriented companies firms that adopt and implement this concept Social marketing orientation acknowledges that some products that customers want may not be in their best interest or the best interest of society as a whole Organization s focus Sales oriented firms focus on selling what the organization makes o Focus efforts internally Customer value the relationship between benefits and the sacrifice necessary to obtain those benefits o Companies will spend money to ensure consumers feel good and come back o People do this by offering products that perform earning trust and avoiding unrealistic pricing Customer satisfaction customer evaluation of goods and service Building relationships keep relationships offer rewards programs Marketing Mix Product decisions Promotion decisions Place decisions Pricing decisions
View Full Document
Unlocking...