This course is to bring to you the concept of marketing. Marketing is the heart of every business success; for your business to succeed, you need a good marketing concept. Therefor, we are going to take you through a course on concept of marketing; just follow us step-by-step and we will take you through it. I bet you, after this course, you will become one of the best marketers around. Happy learning!
Sources: Corie Brown, "Look Who's Taking Care of
Business," Newsweek, August 18, 1997, p. 62. Karen Schoemer, "Burning
Love," Newsweek, August 18, 1997, pp. 58-61. G. Brown, "More Earll'
Elvis Unearthed ," The Denver Pos t, August 15, 1997, p. 9F. Greg Hassell,
"King of Trees Rises From Graceland," Houston Chronicle, Dec. 8,1999,
p. 11. Duncan Hughes, "Elvis is Back From the Dead Fmancially,"
Sunday Business, August 15, 1999, p. 23.
Part one:
MARKETING: DEFINITION AND JUSTIFICATION:
Defining Marketing
Noted Harvard Professor of Business Theodore Levitt, states that
the purpose of all business IS to "find and keep customers." Furthermore, the
only way you can achieve this objective is to create a competitive advantage.
That is, you must convince buyers (potential customers) that what you have to
offer them comes closest to meeting their particular need or want at that point in time. Hopefully, you will be able to provide
this advantage consistently, so that eventually the customer will no longer consider
other alternatives and will purchase your product out of habit. This loyal behavior is
exhibited by people who drive only Fords, brush their teeth only with Crest, buy only Dell
computers, and have their plumbing fixed only by "Samson Plumbing-On Call 24 hours, 7 days
a week." Creating this blind commitment-without consideration of alternatives-to a
particular brand, store, person, or idea is the dream of all businesses. It is unlikely to
occur, however, without the support of an effective marketing program . In fact, the specific
role of marketing is to provide assistance in identifying, satisfying, and
retaining customers.
While the general tasks of marketing are somewhat
straightforward, attaching an acceptable definition to the concept has been difficult. A textbook
writer once noted, "Marketing is not easy to define. No one has yet been
able to formulate a clear, concise definition that finds universal acceptance." Yet a definition of some sort
is necessary if we are to layout the boundaries of what is properly to be
considered "marketing." How do marketing activities differ from
non marketing activities? What activities should one refer to a marketing activities? What institutions should one refer to marketing institutions?
Marketing is advertising to advertising agencies, events to
event marketers, knocking on doors to salespeople, direct mail to direct mailers. In
other words, to a person with a hammer, everything looks like a nail.
In reality, marketing is a way of thinking about business, rather than a bundle of techniques. It's; much more than
just selling stuff and collecting money. It's the connection between people and products,
customers and companies. Like organic tissue, this kind of connection-or relationship-is always
growing or dying. It can never be in a steady state. And like tissue paper,
this kind of connection is fragile. Customer relationships, even long-standing
ones, are contingent on the last thing that happened.
Tracing the evolution of the various definitions of marketing
proposed during the last thirty years reveals two trends:
1) expansion of the
application of marketing to non-profit and non-business institutions; e.g.,
charities, education, or health care; and
2) expansion of the responsibilities
of marketing beyond the personal survival of the individual firm , to include
the betterment of society as a whole . These two factors are reflected in the
official American Marketing Association definition published in 1988.
"Marketing is the process of planning and executing the
conception: pricing, promotion, and distribution of ideas, goods, and services to
create exchanges that satisfy individual (customer) and organizational
objectives."
While this definition can help us better comprehend the
parameters of marketing, it does not provide a full picture. Definitions of
marketing cannot flesh out specific transactions and other relationships among
these elements. The following propositions are offered to supplement this
definition and better position marketing within the firm:
1. The overall directive for any organization is the mission
statement or some equivalent statement of organizational goals. It reflects the
inherent philosophy of the organization.
2. Every organization has a set of functional areas (e.g.,
accounting, production, finance, data processing, marketing) in which tasks are necessary for the success are performed. These functional areas must
be managed if they are to achieve maximum performance.
3. Every functional area is guided by a philosophy (derived from
the mission statement or company goals) that governs its approach toward its
ultimate set of tasks.
4. Marketing from the other functional areas in that its primary
concern is with exchanges that take place in markets, outside the organization
(called a transaction).
5. Marketing is most successful when the philosophy, tasks, and
manner of implementing available Technology are coordinated and complementary.
Perhaps an example will clarify these propositions: L.L. Bean is
an extremely successful mail order company. The organization bases much of its
success on its longstanding and straightforward mission statement: "Customer
Satisfaction: An L.L. Bean Tradition" (Proposition 1). The philosophy
permeates every level of the organization and is reflected in high quality
products, fair pricing, convenience, a 100% policy and-above all-dedication to
customer service (Proposition 2). This philosophy has necessitated a very high
standard of production, efficient billing systems, extensive and responsive
communication networks, computerization, innovative cost controls, and so forth
.
Moreover, it means that all of these functional areas have to be in
constant communication, must be totally coordinated, and must exhibit a level
of harmony and mutual respect that creates a positive environment in order to
reach shared goals (Proposition 3). The L.L. Bean marketing philosophy is in
close harmony with its mission statement. Everything the marketing department
does must reinforce and make real the abstract concept of "consumer satisfaction"
(Proposition 4).
The price-product-quality relationship must be fair. The
product must advertise in media that reflects true high quality. Consequently,
L.L. Bean advertises through its direct-mail catalog and through print ads in
prestigious magazines (e.g. National Geographic). It also has one of the most
highly regarded websites (Ad 1. 1). Product selection and design are based upon
extensive research indicating the preferences of their customers Since product
delivery and possible product return is critical, marketing must be absolutely
sure that both these tasks are performed in accordance with customers' wishes
(Proposition 5).
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