Marketing

Marketing Principles

LO1 - Understand the marketing process and marketing concepts

AC1 :- Explain the marekting process

It could be argued that marketing is as old as the human race itself. It started with a simple exchange of goods - someone had something of value that they were willing to exchange for something else of equal value.

This developed into the marketplaces, with traders calling out their wares, and the rest is history!

So, at its simplest, marketing is still the process of someone creating something that is valued by a group of consumers and exchanged for money. For this system to work successfully, both parties must believe that they have received the right amount of value.

Of course, marketing today is a far more complex process, but it’s not just a discipline carried out only by large businesses. All organisations need to employ some form of marketing, whether they are sole traders or global brand giants.

And there are many different approaches to planning the marketing strategy. Again, this approach is not influenced by the size of the business, nor the type of product/service.

It is influenced heavily by the company’s culture, its attitudes and beliefs about the marketing concept. For some, marketing isn’t planned in a proactive way, rather it reacts to market forces. For others, the planning process is constant, formal and integral to the organisation’s systems.

Of course, marketing today is a far more complex process, but it’s not just a discipline carried out only by large businesses. All organisations need to employ some form of marketing, whether they are sole traders or global brand giants.

And there are many different approaches to planning the marketing strategy. Again, this approach is not influenced by the size of the business, nor the type of product/service.

It is influenced heavily by the company’s culture, its attitudes and beliefs about the marketing http://www.repetitfind.ru/Literature/subjects/Principles-of-marketing-Philip-Kotler.pdf

concept. For some, marketing isn’t planned in a proactive way, rather it reacts to market forces. For others, the planning process is constant, formal and integral to the organisation’s systems.

There are many marketers who believe that to plan business success, means that marketing strategy has to be a formal and structured plan, developed through a robust process.

So, marketers work with others in the business to ensure they have the right strategic plans that will achieve long-term commercial success.

Successful organisations create powerful consumer/customer-driven marketing plans that provide value and build relationships

These plans support the corporate strategy, seeking to achieve the objectives and outcomes required by the business:

The Marketing Planning Process

 

(Click anywhere on the image to learn more about Malcolm McDonald’s 4 phase marketing planning model)

Marketing planning is a continuous process

The model shows a staged planning process, but the reality is that marketers are constantly refreshing and renewing their plans to keep pace with changes in the business and trading environments.

Marketing planning is a continuous process that should involve people from all areas of the business being involved in creating consumer/customer value.

Phase 1: Creating the mission and setting objectives

 

 

 

Many organisations define their ambition for the future and communicate it through a ‘mission statement’.

This is a short statement that describes who they are; their values and beliefs and tells stakeholders about their aspirations for the business.

Which of the following is not an element of Marketing Mix

  • Product
  • Price
  • Profit
  • Promotion
  • Place

Untitled text matching question

  • Bureaucratic structure
    Role Culture
  • Matrixs Structure
    Task Culture
  • Independent Structure
    Person Culture
  • Enterprenural Structure
    Power Culture

You are required to explain the various elements of the marketing process and relate the explanation to your chosen organisation?

Scenario

Assume you want to work as marketing consultant but currently lack the knowledge and experience. A very close friend of yours works for a reputable marketing consulting firm and has informed you he could link you up to work for the firm to gain some practical experience. According to your friend, you need to have some basic idea on marketing principles in order for you to be accepted. He further advised you to research using books and other reputable electronic sources to build your understanding on marketing and relate the idea to an organisation of your choice.

Guidelines

You may include the following in you answer: Market audit, integrated marketing, environmental analysis, SWOT Analysis and marketing objective.

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Untitled ranking text question

  • Economy
  • Satisfaction
  • Diversity
  • Availability

Untitled statement question

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  • The purpose of business is profit maximization
  • Type your statement here...

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Show macro and micro environmental factors which influence marketing decisions

Session 2.1

An organisation’s marketing environment refers to all the elements both inside the and outside the business that create its trading ‘landscape’.

Read through this case study about mobile phone giant Blackberry to learn about how changes in the marketing environment can make or break a brand:

 

What set them apart:  Right before the iPhone was announced, BlackBerry phones were the most popular mo

bile devices on the market. They truly dominated in the "cool" factor, with every celebrity owning one.

What went wrong: Two new phones appeared: iPhones and Droids, a popular line of phones that helped popularize Google's Android operating system. These revolutionary touchscreen smartphones turned the Blackberry into a stale and antiquated device.

BlackBerry thought that their phone with a keyboard would still attract more professional and business-oriented people, but they were mistaken. Most

people, regardless of whether they used their phone for business or pleasure, switched over to the iPhone or the Android-operated smartphones and BlackBerry seriously lost its momentum.

Where they 

are now: In January 2013, BlackBerry released its latest device -- a touchscreen smartphone. Even with popular integrated apps, the product failed to take off.

Their sales have crumbled, and in September 2013, the company pre-announced second quarter earnings, reporting that they'd missed estimates by nearly 50 percent. They also announced they were cutting 4,500 workers and getting out of the consumer business, sparking up rumours that they would merge or sell the company.

Recent reports suggested that the Department of Defence had offered BlackBerry some much needed good news, however, with plans to buy 80,000 of the company's devices, though the DOD later denied that any new orders had been placed and that the confusion had been over an earlier existing order.

 

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Untitled single choice question

  • Put your answer option here
  • Put your answer option here

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Learning Agreement

https://docs.google.com/document/d/13_LJxerWFov6caNCGr_552sF1Dbl3njMwrrpQcA9G6g/pub