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What Marketing is?

   

Added on  2020-12-31

34 Pages10277 Words253 Views
Leadership ManagementMarketing
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MARKETING PLAN
What Marketing is?_1

TABLE OF CONTENTSTABLE OF CONTENTS..............................................................................................................2INTRODUCTION...........................................................................................................................1MAIN BODY...................................................................................................................................1Marketing Definitions....................................................................................................................3Q1. Do you think that, there is any difference between definition of marketing intraditional and contemporary context for company?...........................................................3Classic definition of marketing....................................................................................................4Q2. Can there be difference between what people perceive marketing to be and whatmarketing actually is?...............................................................................................................4Q3. As per your thought is marketing a human activity?....................................................6Q4. As per your thought is marketing about need and wants?.........................................7Q5. As per your thought is marketing about satisfaction?.................................................9Q6. Do you think that there is difference between need and want of human inmarketing?................................................................................................................................10Marketing concept.......................................................................................................................11Q7. As per your thought is marketing a concept or philosophy?.....................................11Identifying past patterns.............................................................................................................12Q8. Do you agree that innovation happen when people view world through 4 lenses?...................................................................................................................................................12Marketing mix..............................................................................................................................13Q9. Do you agree that ingredients of marketing mix and market force influencemarket behaviour?..................................................................................................................13Service thinking...........................................................................................................................14Q10. Do you agree that doing marketing of product which is having high servicecomponent is challenge for practitioner?............................................................................14Marketing objective.....................................................................................................................14Q11. As per your thought is increase in sales revenue part of marketing objective?..14Q12. As per your thought is attracting, retaining and enhancing customer part ofmarketing objective?...............................................................................................................15Q13. As per your thought is operational excellence part of marketing objective..........16
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Retailing........................................................................................................................................16Q14. As per your thought is customer product involvement same as that of person’sperceived relevance?.............................................................................................................16Q15. As per your thought is customer willingness and ability to spend depend uponmarketing condition?..............................................................................................................17Blue Ocean..................................................................................................................................17Q16. As per your thought is Blue Ocean a part of marketing planning process?.........17Forward and reverse marketing................................................................................................18Q17. Do you think that channel marketing is referred to as forward and reversemarketing?................................................................................................................................18Circle of satisfaction....................................................................................................................19Q18. Do you think that with help of blueprinting quality could be improved?................19Marketing communication..........................................................................................................19Q19. Do you think that marketing communication should avoid over promising?........19Marketing audit............................................................................................................................19Q20 Do you think that reporting the findings in marketing audit is important?.............19Q21 Do you think that customer data is important?..........................................................20Organisational audit....................................................................................................................21Q22 Do you think that it is important to change the aim and objective of firm?............21Q23 Do you think that external market factors impact organisation more than internal?...................................................................................................................................................21SWOT report................................................................................................................................22Q24 Do you think that SWOT is the best tool to present information at strategicplanning?..................................................................................................................................22MICRO ENVIRONMENTAL AUDIT.........................................................................................22MACRO ENVIRONMENTAL AUDIT........................................................................................23COMP FACTORS.......................................................................................................................23REFERENCES............................................................................................................................26APPENDIX...................................................................................................................................27
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24INTRODUCTIONMarketing is a very important concept and activity of company which deals withpromoting and selling of products and service of organisation also includes in depth research ofmarket and that of customer (Fanning, 2018). The business marketing planning process is thatsystematic approach that deals with deploying staff members in producing marketing goals,strategies and then implementing all tactics into. This process will mainly depend upon specifiedsituation, target customers and position of company within its working or operating market.While this working will be guided with specified concepts and philosophies used to plan allefforts in one way direction. Mainly these philosophies will deal with identifying and fulfilling allneed and wants of customers which is helpful for both company and customer.The current report deal with marketing audit with identifying key considerations thatmarketing practitioner is exploring consisting of 9 key objectives. For this report marketingquestionnaire is prepared containing quantitative and qualitative questions all of them identifyingarea that need to be explored. The questions which are included within this questionnaire will bemainly related to important for benefit for company and why it is essential to client.Statement of purpose:Marketing audit can be denoted as per analysing the outcome and making adequatedetermination of the current market requirements and the business efficiencies in dealing withthe operational situation. Thus, there can be various obstacles and problems which will affectthis process. In terms of marketing in new location there will be barriers of economy, politicalinfluences as well as changes in the culture and language.MAIN BODYMarketing audit is that process which includes under concept and activity of marketingdeal with collecting, analysis, designing, developing, implementing and evaluating the marketingplanning environment. This will include both internal and external objectives with goal andstrategies of company along with this areas of problem is identified with opportunities and thenrecommending plan for action. A qualified and professional in field of marketing who isconcerned about regular networking events related to it and sharing of knowledge and insightswill be called to as marketing practitioner. Their work is to practically relate with marketingplanning and researching about market and then implementing concepts and philosophies thatare practically applied in business.There are 9 key objectives which is followed by marketing practitioner that are furtherdivided into 3 mega marketing objectives categories namelyMARKETING PLAN
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24Financial objectiveReducing cost which is percentage of salesIncreasing revenue of salesBuilding up value for businessStrategic objectiveExcellence of operationLeadership of productIntimacy of customerCommunication objectiveImproving existing relationshipwith customerRetention of customerMore new customer attractionAs per the old definition of marketing that was given by Philip Kotler state that marketingis concept which satisfy need and want of people with process of exchange. Throughout theprocess of marketing it will be related to satisfy need and want of person with allotting themthings which they desire. While on other hand contemporary definition of marketing will refer tomodel, theories and concepts which are important for customer orientated marketing and not ofmarket orientated. All these models or theories are implemented to show or offer more supportfor client base with offering them variety of products and all of them depending on need andwant of target market.The business marketing concept which is also called to as CADDIE includes steps likethat of collect and analyses; design and develop; implement and evaluate. It refers that all typeof organisation whether they are small or big; public or private; national or global need to planas without planning they will not be classified to as successful. The marketing practitioner willplan and then take actions in way of achieving objectives which is outlined in business plan.While all business and clients are different from each other and having some or the other uniquefeatures that is as per customers, organisation, market and products [COMP]. So marketing andits planning will be related to these COMP factors only as all organisations are different fromeach other and having something unique selling proposition.MARKETING PLANFigure 1: 9 key objectives[Source: Fanning, 2018]
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24The marketing audit questionnaire that is including Collect & Analyses (CA) part ofCADDIE process that will be having brief description of question, why that is important to askand how it could be measured. The 3- mega marketing concept that will include following partslike that of:Total productCircle of satisfactionBuyer decision processThe buyer decision process is that which concern with decision of people at time whenthey are purchasing or consuming the product. It is used for making purchase that related tomarketing transaction before, during and then after the purchase of good or any form of serviceas there are wide range of choice available for people. This is also having 3 stages which arepurchase behaviour, product delivery and post purchase behaviour. All type of customers will bebehaving differently at all these three phase of buyer decision process and all them will be eitherleading customer to rejecting or accepting the products. On the other hand total product is thattype which help organisation to design and develop in way of satisfying need and want ofcustomer along with need of company. If any company is considering both buyer decisionprocess and total product this means that they are looking product from the viewpoint ofcustomer, market and organisation as well. This is possible for product leadership into marketunder which company is working. There are many segments which will combine for total productof that organisation like that of services, ideas, people, goods, experience and place which arethe component of product. Then circle of satisfaction is relate to interaction betweenorganisations with their customers and indicating link between total products and buyer decisionprocess. Marketing DefinitionsQ1. Do you think that, there is any difference between definition of marketing intraditional and contemporary context for company?What: Traditional definition which was started by Philip Kotler marketing is all about satisfactionof need and want of people with exchange process which is that is activity and process ofbuying and selling things (Fanning, 2018; p, 13). While on other hand modern or contemporarydefinition will be that related to importance of customer oriented and not only market oriented.All the strategies which are implemented will offer more support of client with variety of range ofproducts and it will be depending upon need and want of target market. Satisfaction is verymuch important in context of marketing as it is the central point which was highlighted at time ofMARKETING PLAN
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24Industrial Revolution from 1760-1840 which is that of gaining repeat custom. All thecontemporary marketing will be dealing with or influenced with traditional definition that wasgiven by Kotler. Marketing is that department of any organisation that deal with exchange ofrelationship with various clients and customers and its management. This is basically used tocreate keep and satisfy customers of company who are the most important activity that involvethat of being innovative and creative as well.Why: It is important to understand difference between traditional and contemporary definitionof marketing which help marketing practitioner to understand what they should include as clearconcept of marketing. As they will be laying down the foundation about marketing and thenstarting up planning with implementation so that they could be selecting target customers. Sothis will understand conditions in which marketing environment and conditions that is helpingand assisting practitioners to plan for attainment of goal.How:Understanding of both classical and modern definition of marketing will be helpful fororganisation as it influence their decision making process after which they need to implementvarious models and theories of marketing. If marketing staff is knowing all about foundation ofmarketing then it became easy for them to apply them within organisation. With help of classicaland modern theory of marketing practitioner will be able to identify their target market andanalysing marketing condition. So this question is very important which will be help marketingdepartment to distinguish between traditional and contemporary concept of marketing withsimilarities laid within.Classic definition of marketingQ2. Can there be difference between what people perceive marketing to be and whatmarketing actually is?What:Marketing is generally misconceptualized by many people who are not having clear andin depth knowledge about this concept. The thinking of people that marketing is just related withadvertising, promotion and selling of products and services will not be an established thought.As per their context marketing will only be relating to promoting product and brand in market sothat customers could get attracted towards their company and purchase the product (Fanning,2018; p, 14-17). Not just people many organisations also generally refer marketing as onlyactivity that is relating to increase in sales revenue of company with help of promotional events.This is certainly the wrong or incomplete interpretation of people that marketing will only relateMARKETING PLAN
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24with selling, promoting or advertising company, brand and products in market for attractingcustomers.But rather marketing is more wider concept than that it is just understood by peoplemarketing is actually philosophy of business and not only part of organisation. As many peoplealso regard it as part or a department of company which is concern with promoting product sothat sales could be improved. Marketing is a business concept and philosophy which is adoptedby entire organisation and not by only one department. The holistic view of marketing states itas activity of company which is active towards satisfaction of need and want of human with wayof exchanging including selling and buying of products. This is done with use of various tacticsrelated to promotion, advertising, selling, identifying customers, researching of market andplanning from where company must be starting. Marketing is also related as per contemporary definition as it is secondary process underwhich organisation is working and adapting market trends and changes that is working throughprocess of communication, creating, distributing, promoting and pricing of products. These alltogether will be combing for facilitating profits exchange of relationship with customers ofcompany, channel partners and society as well. So there are certain goal of marketing which isdirectly related with that of company’s aim and objective which certainly people will not be ableto understand. As per modern definition of marketing it refers to adapting changes in trendsoutside and inside company, value given to customer, strategic goal and profits of parties withoverall benefit for society.Why:This question is very important for staff members to understand so that they could beable to define marketing in professional language and not according to people. As there is vastdifference between conception of people and what marketing actually is which is sometime notbeen defined by marketing practitioners. If the staff is having knowledge clearly about what ismarketing and how it is not just department of company but essential part of it then only they willbe able to link goal of marketing with vision of organisation. It is very much important formarketing team that they are linking their goal with that of overall companies or organisationalobjectives. This will be influence with vision, mission and long term goal of business which isrelated to profit maximisation. If marketing is good of company and they are been able topromote their products and brands within whole market then this will help company goal ofincrease sales.So this is main reason why laying down difference between what people think aboutmarketing and what actually marketing is need to be explained. If this is not explained then staffMARKETING PLAN
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