The Marketing Concept

sheree4queen13
Mind Map by sheree4queen13, updated more than 1 year ago
sheree4queen13
Created by sheree4queen13 about 6 years ago
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Undergraduate Degree Marketing Mind Map on The Marketing Concept, created by sheree4queen13 on 01/13/2014.
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The Marketing Concept
1 Customer Orientation

Annotations:

  • Corporate activities are focussed upon providing customer satisfaction
2 Integrated Effort

Annotations:

  • All staff accept responsibility for creating customer satisfaction
3 Goal Achievement

Annotations:

  • The belief that corporate goals can be achieved through customer satisfaction
4 Marketing vs Product Orientation
4.1 Marketing: Focus on customer needs as the primary drivers of organisational performance
4.2 Product: A business approach focussed on costs or definition of a company in terms of its production facilities
5 Market-Driven vs Internally Orientated Businesses
5.1 Market-Driven: customer concern, match customer choice with marketing mix, welcome change, innovation rewarded, efficient and effective
5.2 Internally Orientated: Convenience, price and product key to sales, ignore competition, marketing spend is a luxury, stick with the same, efficient
6 Efficiency vs Effectiveness

Annotations:

  • Efficiency produces goods economically. Effectiveness means doing the right things.
7 Limitations of the Marketing Concept
7.1 The marketing concept as an ideology

Annotations:

  • Assumed characteristics of an ideology or article of faith that dominate the thinking of organisations. Other valid considerations that companies must take into account. Achieve compromise between customer satisfaction and achievement of other company requirements.
7.2 Marketing and society

Annotations:

  • Production of goods and services that do not adequately correspond to societal welfare. Customer satisfaction does not guarantee protection of consumer's welfare.
7.3 Marketing as a constraint on innovation

Annotations:

  • Relying on customers to guide development of new products has severe limitations (Tauber). Marketing research ideas modest compare to 'science push' of R&D laboratory.
7.4 Marketing as a source of dullness

Annotations:

  • Dull marketing campaigns, me-too products, copycat promotions, marketplace stagnation. Marketing should create demand not reflect demand. 'Teased, tantalised and tormented by deliciously insatiable desire' (Brown). 'Retromarketing' - exclusivity, secrecy, amplification, entertainment and tricksterism.
8 Marketing Mix
8.1 Product

Annotations:

  • What goods or services should be offered to a group of customers. Product development.
8.2 Price

Annotations:

  • Represents what the company receives for the product that is being marketed. Production, product and place all represent costs. Discount and give allowances in some transactions.
8.3 Promotion

Annotations:

  • Promotional mix: advertising, personal selling, sales promotions, PR, direct marketing and online promotion. Target audience made aware. Internet has global reach.
8.4 Place

Annotations:

  • Distribution channels, locations of outlets, methods of transportation and inventory levels. Ensure products and services are available in the proper quantities, at the right time and place.
8.5 Key Characteristics of an Effective Marketing Mix
8.5.1 Matches customer needs

Annotations:

  • Target customer understood. Economic and psychological criteria. ECONOMIC: performance, availability, reliability, durability and productivity gains. PSYCHOLOGICAL: self-image, desire for a quiet life, pleasure, convenience and risk reduction.
8.5.2 Well blended

Annotations:

  • Well blended to form a consistent theme
8.5.3 Matches corporate resources

Annotations:

  • Choice of strategy may be constrained by the financial resources of the company. A second internal resource constraint may be the internal competences of the company.
8.5.4 Creates a competitive advantage

Annotations:

  • Achievement of superior performance through differentiation to provide superior customer value or lowest delivered cost.
8.6 Criticisms
8.6.1 Oversimplifies the reality of marketing management
8.6.2 Booms and Bitner argue for a 7-Ps approach
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