Marketing philosophies - Lecture 1

Question 1

marketing d

Answer 1

marketing is the management process which identifies, anticipates and supplies customer requirements efficiently and profitably

Question 2

what is consumer marketing

Answer 2

end of supply chain

Question 3

ethical and sustainable marketing d

Answer 3

delivers in a way that maintains or improves the consumers and society’s wellbeing, questions the pure marketing concept

Question 4

consumer goods

Answer 4

exchange processes which take place at the end of the supply chain

Question 5

industrial goods

Answer 5

earlier stages in supply chain, exchanges between organisations (raw materials, components and finished products), without efficient supply chain consumer needs cannot be met

Question 6

service goods

Answer 6

service product is essentially intangible

Question 7

non-profit marketing

Answer 7

organisations whose goals are something other than profit, success measured by amount of money raised but also awareness raised by charities

Question 8

what is a need

Answer 8

a motivation that compels action for its satisfaction

Question 9

what is a want

Answer 9

having a strong desire for something

Question 10

____ to satisfy hunger might be expressed as a _____ of meat by one person, and a ____ of fruit by another

Answer 10

need, want, want

Question 11

what are demands

Answer 11

once wants and needs are satisfied, demands are extras that people demand (table service in addition to food provision)k

Question 12

what is a benefit

Answer 12

a product or a service’s customer oriented strengths; statement of a valuable product or service feature, with an emphasis on what the customer gets from the product

Question 13

what is a cost

Answer 13

amount paid or required in payment for a purchase; a price. the expenditure of something such as time or labour necessary for the attainment of a goal

Question 14

what is value

Answer 14

value is the worth in goods, services or money of an object or person

Question 15

what is the production marketing philosophy *

Answer 15

prevailing attitude that getting production right was all that mattered (production orientation), this marketing philosophy prevails where demand greatly exceeds supply such as in third world countries

Question 16

features of production marketing philosophy *

Answer 16

customers prepared to accept poorer quality or a product that didn’t exactly fit their needs,
with rising affluence people not prepared to accept standardised products,
invention of steam engine allowed much cheaper mass produced items to be made

Question 17

what is the product marketing philosophy *

Answer 17

view that an ideal product could be made that all (or most) customers would want, engineers and designers developed products with more and better features in an attempt to please everybody (product orientation)

Question 18

what is product orientation

Answer 18

the marketing philosophy of product that led to the development of products with more features in an attempt to please everybody

Question 19

what is production orientation

Answer 19

prevailing attitude that all that mattered was getting production right

Question 20

features of product marketing philosophy *

Answer 20

manufacturers began to look more closely at what they were producing,
view that an ideal product could be made so engineers develop more and better features,
product orientation leads to ever more complex products at ever increasing prices,
rising affluence

Question 21

analysis of product marketing philosophy *

Answer 21

because of ever increasing prices due to ever more complex products customers may have to pay for features which they may not need or even regard as drawbacks,
does not allow for differences in tastes and needs

Question 22

what is the selling marketing philosophy *

Answer 22

as manufacturing capacity increases supply will tend to outstrip demand, customers will not ordinarily buy enough of the organisations products so they will need to be persuaded to buy more (sales orientation)

Question 23

what is sales orientation

Answer 23

customers will not ordinarily buy enough of the organisations products so they will need to be persuaded to buy more

Question 24

who is the sales marketing philosophy and sales orientation concerned with

Answer 24

concerned with the needs of the seller, not with the needs of the buyer

Question 25

what does sales era mean (philosophies)

Answer 25

produce a product with given characteristics, then change the consumer to fit it

Question 26

when was the selling marketing philosophy popular

Answer 26

during the 1920s and 1930s Europe and US manufacturers believed that a ‘born salesman’ could sell anything to anybody

Question 27

features of selling marketing philosophy *

Answer 27

concerned with the needs of the seller not the buyer,
born salesman could sell anything to anybody so enough salesman could get rid of the surplus product,
customers won’t buy enough of the product on their own so will need to be persuade to buy more (sales orientation),
produce product with characteristics then change consumer to fit,
relies on premise that the customer can be fooled

Question 28

what is the marketing philosophy *

Answer 28

customers are intelligent enough to know what they need and can recognise value for money,
customer at centre of organisations activities and can change the organisations aims to fit one or more specific group of customer

Question 29

features of marketing philosophy *

Answer 29

consumer orientation values are instilled in all employees,
find needs and wants of a specific group of customers and finding what price they would pay and fitting the orgs activities (marketing concept),
marketing concept affects all areas of the business,
customer at centre of all organisations activities

Question 30

what does it mean by saying marketing concepts affect all areas of the business

Answer 30

from production (where engineers and designers have to produce items that meet consumers needs) through to after-sales services (where customers complaints need to be taken seriously)

Question 31

what is one analysis point about marketing concept

Answer 31

because the firm identifies one or more specific groups of consumers who have similar needs, marketers often meet resistance from within their own organisations

Question 32

example of the marketing concept used in real world

Answer 32

fast-food restaurant - training of staff emphasise things important to the customer such as speed of service and friendliness of staff

Question 33

which is the newest of the marketing philosophies

Answer 33

ethical and sustainable marketing

Question 34

what is the ethical and sustainable marketing philosophy *

Answer 34

questions the pure marketing concept by delivering in a way that maintains or improves the consumer’s and society’s well-being

Question 35

features of the ethical and sustainable marketing philosophy *

Answer 35

conflicts between short-term consumer wants and long-term consumer welfare,
questions whether a firm that satisfies individual wants and needs is always doing what’s best for consumers and society in the long run,
questions whether pure marketing concept is still applicable in age of environmental problems, resource problems etc

Question 36

example of ethical and sustainable marketing

Answer 36

in satisfying consumer wants, highly successful alcohol companies may be harming consumers health and causing social issues such as antisocial behaviour