The Marketing Process (Responding to and anticipating changes in the…
The Marketing Process
Responding to and anticipating changes in the market
Pursuing the organisation's mission, vision and values
Analysing the market
Choosing a marketing strategy
formulating the offering and implementing
monitoring and evaluating the marketing programme
INNOVATION need not only be ideas for new products or services, but could be an idea for a new approach to communicate superior value or a new way of creating customer delight.
"great rewards come to those who see needs that have not been clearly identified by others, and who have the innovating capacity to devise products and services which fill these needs." Joseph Wilson’s observation (Source: Abridged and adapted from Xerox, 1999)
‘identifying, anticipating and satisfying customer requirements profitably’ AMA and the importance of having (or securing) the organisational resources to capitalise on a big idea
if we are to assume and maintain leadership in this vast new area of office information systems, we must continue to seek out new, better and cheaper ways of handling information.
The Marketing Environment
Internal or ‘micro’ environment
An organisation’s key stakeholders or audiences that affect its activities and success
customers, marketing intermediaries, suppliers, competitors and publics (Kotler and Armstrong, (2016, p. 97)
'a public' is "any group that has an actual or potential interest in or impact on an organization's ability to achieve its objectives"
seven types of publics: financial; media; government; citizen-action; local (neighbourhood); general; and internal (employees))
Customers = most important group
Five types of customer markets - Kotler and Armstrong (2016)
reseller markets – goods and services purchased for reselling at a profit
government markets – goods and services purchased by governments
for the delivery of public services
business markets – goods and services purchased by businesses for use in their operations or manufacturing
international markets – goods and services purchased by buyers in other countries who may be any of the preceding four types of buyers – consumers, businesses, resellers or governments.
consumer markets – goods and services purchased by individuals and householders for personal consumption
External or ‘macro' environment
A range of external forces
Strategies for competitive advantage and growth.
Marketers analyse the marketing environment
through marketing research (data the organisation collects about a particular market)
and marketing intelligence (publicly available information about the marketing environment)
External (macro) environment
To operate, compete and innovate successfully