1 Flashcards
Key Learning Outcome - Schools of thought
Recognise there are different schools of thought. With assignment main focus will be rational school, but will be shown others.
Whys 1950s significant in marketing?
Organisations went through production orientation, sales orientation and marketing orientation.
What is the debate over Business orientation?
Should an org. be sales orientated, production orientated or customer orientated? What we teach us that org’s should be customer orientated.
Customer orientation definition
An approach to sales and customer-relations in which staff focus on helping customers to meet their long term needs and wants.
What does a customer-oriented organisation do?
Places customer satisfaction at the core of each of its business decisions.
What is the definition of Marketing?
the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. (American Marketing Association, 2017)
What did the end of 1950’s represent a move from?
The period of sales focus to greater marketing concept and customer focus.
Why did 1950’s move from sales to customer focus?
TV, Access to Media, Competition, Old techniques weren’t working, org’s broadly had ‘Push’ strategies.
Why was the Ford Edsel a Classic Marketing Failure?
1957, Named after son, represents internal marketing design factors rather than listening to external. Strange marketing methods. (no customer focus)
What’s ‘Marketing Myopia’?
A short-sighted and inward looking approach to marketing that focuses on the needs of the company instead of defining the company and its products in terms of the customers’ needs and wants. It results in the failure to see and adjust to the rapid changes in their markets.
The concept of marketing myopia was discussed in an article (titled “Marketing Myopia,” in July-August 1960 issue of the Harvard Business Review) by Harvard Business School emeritus professor of marketing, Theodore C. Levitt (1925-2006), who suggests that companies get trapped in this situation because they omit to ask the vital question, “What business are we in
Read more: http://www.businessdictionary.com/definition/marketing-myopia.html
What competition was there to Ford Edsel?
VW Beetle - low cost, more efficient, faster, less expensive.
What are pros of Ford Edsel?
They ID’d a need in the market, but failed to create the product.
Sony Betamax - Failure Reasons
- Outcompeted by JVC’s VHS tapes which had the longer recording time, although lower quality, customers valued this more.
Tupperware - Target
- By making this product available in Target stores, they lost the community element of Tupperware Parties - failed to see the bundle of benefits, not just the product was important.
New Coke - 1985
Fail. People fpund out that it was a cost-cutting measure. Lost faith in Coke Brand they’s become loyal to - relationship marketing.
