Now that we understand how marketing came to become an important component of the economy, let us look at the definition of marketing and the marketing concept in more detail: Show
MarketingMarketing is defined by the American Marketing Association as “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[1] .” If you read the definition closely, you see that there are four activities, or components, of marketing:
To address these activities, marketing personnel are tasked with developing and implementing the Marketing Mix. The Marketing Mix is commonly referred to as the 4Ps:
None of these components can be delivered effectively without good marketing research. Marketing research is how a company understands their customers and the best ways to meet their needs. Occasionally, you may hear the 4Ps referred to as the 5Ps. The fifth P stands for people. It is my professional opinion that the 4Ps should revolve around the target market (people) as opposed to be considered on equal footing. Marketing ConceptThe marketing concept is the use of marketing data to focus on the needs and wants of customers to develop marketing strategies that not only satisfy the needs of the customers but also the accomplish the goals of the organization. An organization uses the marketing concept when it identifies the buyer’s needs and then produces the goods, services, or ideas that will satisfy them. The marketing concept is oriented toward pleasing customers (be those customers organizations or consumers) by offering value. Specifically, the marketing concept involves the following:
[1] American Marketing Association, “Definition of Marketing,” http://www.marketingpower.com/AboutAMA/ Pages/DefinitionofMarketing.aspx?sq=definition+of+marketing (accessed December 3, 2009). Answer: Creating: The process of collaborating with suppliers and customers to create offerings that have value. 2. Communicating: Broadly, describing those offerings, as well as learning from customers. 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. process of collaborating with suppliers and customers to create offerings that have value. broad term in marketing that means describing the offering and its value to your potential and current customers, as well as learning from customers what it is they want and like. getting those offerings to the consumer in a way that optimizes value. trading value for those offerings. Four Components of Marketing
Creating, Communicating, Delivering, Exchanging benefits the buyers receive that meet their needs. value = benefits received - [price + hassle] philosophy underlying all that marketers do, driven by satisfying the customer wants and needs. firms operating using the marketing concept. belief that the way to compete is a function of product innovation and reducing production costs, as good products appropriately priced sell themselves. began with the industrial revolution and lasted until the 1920’s when production-capacity growth began to outpace demand growth and new strategies were called for. belief that is was necessary to push their products by heavily emphasizing advertising and selling. during the Great Depression and World War II; dollars were short so competition was stiff. post-WWII; demand for goods increased as the economy soared; from 1950-1990. time when companies emphasize creating value for customers (now). from the 1990’s to present, the idea of competing by building relationships with customers one at a time and seeking to serve each customer’s needs individually. approach to business that recognizes that consumers want value no matter how it is delivered. Service Dominant Logic Era from 1990 to present in which some believe that the philosophy of service-dominant logic dominates the way firms compete. includes a number of organizations and functions that mine, make, assemble, or deliver materials and products from a manufacturer to consumers. actual transportation and storage of materials and products; primary component of supply chain management. when a nonprofit engages in marketing activities. marketing conducted in an effort to achieve social objectives; can be done by government agencies, nonprofit institutions, religious organizations, and others. strategy for implementing the components of marketing: creating, communicating, delivering, and exchanging value. you must actively seek to improve the lot of others. involves engaging in practices that do not diminish the earth’s resources. Is the process of collaborating with suppliers and customers to create offerings that have value?1.1 Defining Marketing. Creating: The process of collaborating with suppliers and customers to create offerings that have value.. Communicating: Broadly, describing those offerings, as well as learning from customers.. Delivering: Getting those offerings to the consumer in a way that optimizes value.. What is the term for the process of creating communicating and delivering value?Marketing is a set of processes for creating, communicating, and delivering value to customers and for improving customer relationships. It includes everything that organizations do to satisfy customers' needs.
How do marketing processes create value?Use these tips to maximize the value of your products and services:. Improve the buying process. ... . Focus on brand perception. ... . Get customer feedback. ... . Make a unique product. ... . Provide a positive experience. ... . Prioritize quality over price. ... . Identify your strengths. ... . Adjust your marketing strategy.. Which of the following is bringing offerings to the consumer in a way that optimizes value?Delivering. Getting those offerings to the consumer in a way that optimizes value.
|
What is the process of collaborating with suppliers and customers to create offerings that have value?
zusammenhängende Posts
Urheberrechte © © 2024 decemle Inc.
