1. MARKETING MANAGEMENT ORIENTATIONS
1.1. Marketing is the delivery of customer satisfaction at a profit
2. WHAT IS MARKETING
2.1. MARKETING'S TERMS
2.1.1. CUSTOMER VALUE: Consumer's assessment of the product's overall capacity to satisfy his or hẻ need
2.1.2. SATISFATIONS: Exten to which a product's perceived performance matches customer's expectations
2.2. Marketing is the distinguishing, unique function of the business
2.3. Marketing Is an Effective Way of Engaging Customers
2.4. Marketing Aids in Providing Insights About Your Business
3. There are five alternative concepts under which organizations design and carry out their marketing strategies:
3.1. SOCIETAL MARKETING
3.1.1. The societal marketing concept holds that marketing strategy should deliverr value to customers in a way that maintains or improves both the consumer's and society's swell-being
3.2. PRODUCTION
3.2.1. For example, computer maker Lenovo dominates the highly competitive, price-sensitive Chinese PC market through low labor costs, high production efficiency, and mass distribution.
3.2.1.1. The idea that consumers will favor products that are available and highly affordable and that the organization should therefore focus on improving production and distribution efficiency.
3.2.2. SELLING
3.2.2.1. For example, The selling concept is typically practiced with unsought goods—those that buyers do not normally think of buying, such as insurance or blood donations.
3.2.2.2. The idea that consumers will not buy enough of the firm’s products unless it undertakes a large-scale selling and promotion effort.
3.3. PRODUCT
4. Marketing is an investment, not a cost
5. For example, Under the marketing concept, customer focus and value are the paths to sales and profits. The job is not to find the right customers for your product but to find the right products for your customers.
5.1. Marketing is 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.
6. WHY MARKETING IS IMPORTANT?
6.1. Marketing Helps to Build and Maintain the Company’s Reputation
6.2. Marketing is purpose of business is to create a customer
6.3. Marketing Helps to Build a Relationship Between a Business and Its Customers
6.4. Marketing Helps to Boosts Sales
6.5. Marketing Is a Communication Channel Used to Inform Customers
6.6. Marketing Helps Your Business to Maintain Relevance
6.7. Marketing Helps the Management Team to Make Informed Decisions
6.8. Because without marketing there are few sales, and without sales, there is no company
7. For example, some manufacturers believe that if they can “build a better mousetrap, the world will beat a path to their doors.”
8. Marketing is advertising, public relations, selling. The BEFORE and AFTER when you launch a product
9. MARKETING
10. :four: 4 EFFECTIVE FOOLS OF MARKETING INCLUDING
10.1. PLACE
10.1.1. EX:Hugo Boss is a premium brand, providing products to upstream and rich customers
10.2. PRODUCT
10.2.1. EX: Hugo Boss which sells high-end men's and women's clothing and their products are superb. Customers love the way they look when wearing them. These are high-end products and the pricing range is high but that's not surprising given the high-quality products and the high propensity to spend extra by the firm's customers.
10.3. PRICE
10.3.1. EX:Hugo Boss is a famous brand with a long-term brand, so Hugo Boss items come with high prices but quality also raised a lot
10.4. PROMOTION
10.4.1. A philosophy that holds that achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions better than competitors do
10.4.2. EX:Hugo Boss runs promo campaigns with world-famous testimonials like Gerard Butler these advertisements are shown on TV and in magazines like Vogue and men's health. That's great because the brand can reach target customers through these media channels and boost its premium brand image