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The Marketing Concept (Marketing Function (Monitoring and analysing the…
The Marketing Concept
Marketing Function
Monitoring and analysing the market for trends and theats
Determining objectives and strategies in line with mission, vision and values of organisation
Identifying target market and positioning suitably in the market
Managing the brand to ensure a strong reputation
Ensuring price point is correct
Define Marketing?
'Marketing is the management process responsible for identifying, anticipating and satisfying customer requirements profitably - The Chartered Institute of Marketing, 2015
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 - American Marketing Association, 2013
Marketing orientation
Mission, Vision and Value
Mission is 'the master strategy'
Visions are the future-focused aims
Value are important as they guide behaviour
Organisational opportunities and resources
Evaluating marketing opportunities
Environmental scanning
Understanding the organisations capabilities and assets
Marketing Process
Organisations mission, vision and vales
Analysis of the market
Strategy Selection
Formulation of the offering
Implementation, monitoring and evaluation