Marketing philosophies - Lecture 1 Flashcards
marketing d
marketing is the management process which identifies, anticipates and supplies customer requirements efficiently and profitably
what is consumer marketing
end of supply chain
ethical and sustainable marketing d
delivers in a way that maintains or improves the consumers and society’s wellbeing, questions the pure marketing concept
consumer goods
exchange processes which take place at the end of the supply chain
industrial goods
earlier stages in supply chain, exchanges between organisations (raw materials, components and finished products), without efficient supply chain consumer needs cannot be met
service goods
service product is essentially intangible
non-profit marketing
organisations whose goals are something other than profit, success measured by amount of money raised but also awareness raised by charities
what is a need
a motivation that compels action for its satisfaction
what is a want
having a strong desire for something
____ to satisfy hunger might be expressed as a _____ of meat by one person, and a ____ of fruit by another
need, want, want
what are demands
once wants and needs are satisfied, demands are extras that people demand (table service in addition to food provision)k
what is a benefit
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
what is a cost
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
what is value
value is the worth in goods, services or money of an object or person
what is the production marketing philosophy *
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
features of production marketing philosophy *
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
what is the product marketing philosophy *
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)
what is product orientation
the marketing philosophy of product that led to the development of products with more features in an attempt to please everybody
what is production orientation
prevailing attitude that all that mattered was getting production right
features of product marketing philosophy *
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
analysis of product marketing philosophy *
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
what is the selling marketing philosophy *
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)
what is sales orientation
customers will not ordinarily buy enough of the organisations products so they will need to be persuaded to buy more
who is the sales marketing philosophy and sales orientation concerned with
concerned with the needs of the seller, not with the needs of the buyer
what does sales era mean (philosophies)
produce a product with given characteristics, then change the consumer to fit it
when was the selling marketing philosophy popular
during the 1920s and 1930s Europe and US manufacturers believed that a ‘born salesman’ could sell anything to anybody
features of selling marketing philosophy *
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
what is the marketing philosophy *
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
features of marketing philosophy *
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
what does it mean by saying marketing concepts affect all areas of the business
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)
what is one analysis point about marketing concept
because the firm identifies one or more specific groups of consumers who have similar needs, marketers often meet resistance from within their own organisations
example of the marketing concept used in real world
fast-food restaurant - training of staff emphasise things important to the customer such as speed of service and friendliness of staff
which is the newest of the marketing philosophies
ethical and sustainable marketing
what is the ethical and sustainable marketing philosophy *
questions the pure marketing concept by delivering in a way that maintains or improves the consumer’s and society’s well-being
features of the ethical and sustainable marketing philosophy *
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
example of ethical and sustainable marketing
in satisfying consumer wants, highly successful alcohol companies may be harming consumers health and causing social issues such as antisocial behaviour
