MARKETING REVISITED

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STRATEGY AND MARKETING MANAGEMENT BMG777J2

• MARKETING REVISITED
• M Mac Blain
  Week No 7
• http//www.busmgt.ulst.ac.uk/modules/bmg777j2/LNot
  es.html

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MARKETING DEFINED
Marketing is human activity directed at
satisfying needs and wants through exchange
processes. Ref-Kotler, P. Marketing Management.
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THE MARKETING CONCEPT
Firms or organisations will achieve their
targets most effectively if they recognise that
their prosperity is built by meeting customer
needs.
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Thinking is hard work. That is why so few people
do it.
Einstein
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? In terms of marketing, identify one
organisation that is a model.
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REQUIREMENTS OF MARKETING CONCEPT

• Customer orientation
• Target marketing
• Integrated marketing
• Objectives / profitability

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Corporate Social Responsibility

• The social responsibility of a business is to
  increase its profits.
• The customer is sovereign.
• The proper business of business is business. No
  apology required.

• The firm is part of society and is an instrument
  of social policy.
• Firms must address fair trade, human rights,
  workers rights, environmental impact, financial
  probity, corporate governance
• Firms address stakeholders

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Stakeholders

• Businesses respond in fact to those who
  directly or indirectly affect, or are affected
  by, the firms activities. The key stakeholder
  groups are

• Organisational
• Community
• Regulatory
• Media

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Established 2000. Sales 16.7M, 2004 market
leader in smoothies. Pre tax profits 750,000,
10 to charities in source countries 60
employees, average age 26, Employer of the Year
Brand associated with youth, health and ethical
business.
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• Taking account of stakeholders is not the same
  thing as being accountable to stakeholders.
• Useful reference on CSR issues
• The Economist, 22 January 2005, Supplement.
• Johnson and Scholes (2002), Exploring Corporate
  Strategy,

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Corporate Social Responsibility
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MARKETING MANAGEMENT DEFINED
Marketing management is the process of planning
and executing the conception, pricing, promotion
and distribution of ideas, goods and services to
create exchanges that satisfy individual and
organisational objectives. It therefore involved
analysis, planning, implementation and control.
It rests on the notion of exchange. The goal is
to produce satisfaction for the parties
involved. Kotler, P. Marketing Management.
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CONTEMPORARY PERSPECTIVE
The marketing management processdeals with the
acquisition, deployment and enhancement of
specialist marketing knowledge and contributes,
through its interaction with the other core
processes, to the successful management of the
market relationships of the firm. Murray and
ODriscoll.
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APPROACHES TO MARKETING
Transaction marketing a one-off deal Emphasis
is on optimising profit/return Relationship
marketing on-going deals Emphasis is on
spreading return over period of the
relationship Challenge is to build and maintain
networked relationships over the long term