Tuesday, February 5, 2013

Company Orientations Toward The Marketplace.

We have defined marketing management as the concious effort to achieve desired exchange outcomes with target markets, but what philosophy should guide a company’s marketing efforts? What relative weight should be given to the interests of the organization, the customers, and society? Very often these interest of the organization, the customers, and society? Very often these interests conflict. (P. 17)
Dexter one of dexter corpotation’s most popular products was profitable grade of paper that prevanted tea bags from disintegrating in hot water. Unfortunately, hazardous wastes. Dexter assigned an employee task force representing the company’s environmental, legal, R&D, and marketing departments to solve the problem. The task force succeeded, and the company increased its market share and virtually eliminated hazardous waste in the process. (P. 17)
Clearly,  marketing activities should be carried out under a well-thought-out philosophy of efficiency, effectiveness, and social responsibility. However, there are six competing concepts under which organizations conduct marketing activities: the production concept, product concept, selling concept, marketing concept, customer concept, and societal marketing concept. (P. 17)

1.    Businesses today face to major challenges and opportunities: globalization, the effects of advances in technology, and deregulation. (P. 29)
2.    Marketing is typically seen as the task of creating, promoting, and delivering goods and services to consumers and businesses. Effective marketing can take many forms: it can be entrepreneurial, formulated, or intrepreneurial; and marketers are involved in marketing many types of entities: goods, services, experiences, events, persons, places, properties, organizations, information, and ideas. (P. 29)
3.    Marketers are skilled at managing demand: they seek to influence the level, timing, and composition of demand. To do this, they face a host adecisions, from major ones such as what features a new product should have to minor ones such as the color of packaging. They also operate in four different marketplaces : consumer, business, global, and nonprofit. (P. 29)
4.    For each chosen target market, a firm develops a market offering that is positioned in the minds of buyers as delivering  some central benefits. Marketers must try to understand the target market’s  needs, wants, and demands: A product or offering will be succesful if it delivers value and statisfaction to the target buyer. The term markets cover various grouphings of customers. Today there are both physical marketplaces and dgital marketpaces, as well as megamarkets. (P. 29)
5.    Exchange involves obtaining a desired product from someone by offering something in return. A transaction is atrade of values between two or more parties: it involves at least two things of value, agreed-upon conditions, a time of agreement, and a place of agreement. In the most generic sense marketers seek to elicit a behavioral response from another party: a purchase, a vote, active membership, adoption of a cause. (P. 29)
6.    Relationship marketing has the  aim of bulding long-term, mutually statisfying ralations with key parties-customers, suppliers, and distributors-in order to earn and retain their long-term preference and business. The ultimate outcome of relationship marketing is the building of a unique company asset called a marketing network. (P. 29)
7.    Marketers reach their markets throught various channels communication, distribution and selling. Marketers operate in a task environment and a board environment. They face competition from  actual and potential rival offerings and subtitues. The set of tools marketers use to elicit the desired responses from their target markets is called the marketing mix. (P. 29)
8.    There are six competing concepts under which organizations can choose to conduct their business: the production concept, product concept, selling concept, marketing concept, customer concept, and societal marketing concept. The first three are of limited  use today. The marketing concept holds that the key to achieving organizational goals consists of determining the needs and wants of target markets and delivering the desired satisfactions more effectifely and efficiently than competitiors. It starts with a well-defined market, focuses on customer needs, coordinates all the activities that will affect customers, and produces profit by statisfying customers. The customers concept addresses the individual needs of specific customer and aims to build customer loyaty and lifetime value. (P. 29)
The societal marketing concept holds that the organization’s task is to determine the needs, wants, and interests of target markets and to deliver the desired satisfactions more effectifely and efficiently than competitiors, in a way that preserves or enhances the consumer’s and the society’s well-being. The concept calls upon marketers to balance three considerations : company profits, consumer want satisfaction, and the public interest. (P. 29)
Source : Philip Kotler. 2003. Marketing Management. Eleventh edition. New Jersey: Prentice Hall

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