Please wait - loading…

What is Marketing?

Description

Description of the basis of marketing fundamentals to be expanded on.
Stephanie Natasha
Mind Map by Stephanie Natasha, updated more than 1 year ago
Stephanie Natasha
Created by Stephanie Natasha over 6 years ago
760
18

Resource summary

What is Marketing?
  1. DEFINITION: "The management process of anticipating, identifying & satisfying customer requirements profitably." [CIM, 2001]
    1. PROFIT
      1. Financial
        1. Gain in society
          1. Non-profit
          2. PRODUCT BASED BUSINESS: Businesses that produce products are always aiming to offer solutions to customers' "problems".
            1. CUSTOMERS & CONSUMERS
              1. A customer BUYS a product/service
                1. A consumer USES a product/service
                2. THE MARKETING MIX, [McCarthy, 1990]
                  1. Product
                    1. Place (distribution)
                      1. Price
                        1. Promotion
                          1. Physical Evidence
                            1. Process
                              1. People
                              2. MARKETING IN CONTEXT
                                1. THE SERVICE PERSPECTIVE: Marketing organised around idea markets increasingly characterised not by physical goods but by intangible services
                                  1. Intangible, performance-dependent, nature of services affects the way they should be marketed
                                  2. BUSINESS TO BUSINESS PERSPECTIVE: Marketing is different from consumer marketing because customer is a business rather than an individual household/chief shopper
                                  3. SIMPLE MARKETING EXCHANGE PROCESSES
                                    1. RETAILER: Goods & customer service to CUSTOMER
                                      1. CUSTOMER: Payment at retail price for goods to RETAILER
                                      2. MANUFACTURER: Goods, credit facilities, return facilities, distribution arrangements, other services to RETAILER
                                        1. RETAILER: Payment at whatever price for goods to MANUFACTURER
                                      3. MARKET ORIENTATION:
                                        1. CUSTOMER ORIENTATION: Needs of customer
                                          1. COMPETITOR ORIENTATION: Understand competitors
                                            1. LONG TERM PROFIT: All functions work together to achieve above
                                              1. THREE COMPONENTS OF MARKET ORIENTATION
                                                  1. LONG TERM PROFIT FOCUS
                                                    1. INTERFUNCTIONAL COORDINATION
                                                      1. COMPETITOR ORIENTATION
                                                        1. CUSTOMER ORIENTATION
                                                    Show full summary Hide full summary

                                                    Similar

                                                    Digital Marketing Strategy - The Essentials
                                                    Micheal Heffernan
                                                    Chapter 18 - Marketing mix(Product & Price)
                                                    irene floriane
                                                    Business Marketing
                                                    s1500782
                                                    Digital Marketing Jargon
                                                    Ronak Sharma
                                                    Chief Marketing Officer (CMO)
                                                    takhmina1995
                                                    Social Selling Marketing
                                                    mona.alqahtani
                                                    Preparing for Presentations
                                                    Micheal Heffernan
                                                    Design Tips for Non-Designers
                                                    Micheal Heffernan
                                                    3.1 Keywords - Marketing
                                                    Mr_Lambert_Hungerhil
                                                    Forms of Business Ownership Quiz
                                                    Noah Swanson
                                                    Unit 3 Business Studies
                                                    Lauren Thrower