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Marketing (The marketing function (monitoring and analysing the market and…
Marketing
The marketing function
monitoring and analysing the market and developing trends, opportunities, threats and competition
determining objectives and strategies in alignment with the organisation’s mission, vision and values
Identifying the most appropriate consumers to target and ensuring that products and services meet their needs and are suitably positioned in the relevant market
managing the brand(s) to project a coherent and compelling brand identity that attracts and builds relationships with consumers to secure a strong reputation and consumers’ goodwill and to guarantee future income and ward off competition
Ensuring that products and services are communicated, delivered and offered at a price to consumers that constitutes an attractive proposition and ensuring that all points of contact in the exchange process enhance the purchase experience.
The marketing process
Organisation’s mission, vision and values
Guides the organisation during the marketing process, helping to maintain a steady (but not necessarily fixed) course against a dynamic and sometimes turbulent environment.
e.g. ‘to design products that are in the best interest of the child’ (Stokke, n.d.)
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Vision = future-focused
The mission embodies the organisation’s purpose and is guided by the vision of the future which helps to set the stage for innovation and ‘big ideas’
e.g.to encourage child development and to strengthen the bonds between parent and child’ (Stokke, n.d.)
Values = guide behaviour
‘This is what we believe in and this is how we think our business should be conducted’ (Harris, 2002, p. 28)
Corporate Strategy
The mission, vision and values help to determine the corporate strategy
I.e supporting objectives that direct the whole organisation and the allocation of support, resources and functional coordination for its areas of business
The marketing process support the overall organisation-wide objectives at the level of the business unit, brand or market, as appropriate, to pursue identified marketing opportunities
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Implementation, monitoring and evaluation
Activities
Internal stakeholders: communications about your corporate logo and the visual look of the products or services your organisation offers, or customer figures.
Marketing Dept: Launching new products, collecting customer feedback, preparing budgets or planning a communication campaign.
Consumer: selling, advertising, big brands, sponsorship or perhaps junk mail.
The marketing concept
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. something that is offered for exchange – an ‘offering’ (which could be a good, a service or idea)
the provision of value for the parties involved in the exchange (e.g., profit for organisations and the satisfaction of requirements for customers).
Blythe (2006, p. 3) Role of marketers
Marketers act at the interface between the company and its customers. They need to coordinate the company’s activities with the needs of customers, and to communicate the company’s offerings to its target groups.
Marketing Orientation
Marketing-oriented organisations strive to understand and anticipate customers’ requirements and formulate their offerings to respond to these in a changing world.