Definitions

Posted by Admin

        Marketing is further defined by the AMA as an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders. The term developed from an original meaning which referred literally to going to a market to buy or sell goods or services. Seen from a systems point of view, sales process engineering marketing is "a set of processes that are interconnected and interdependent with other functions, whose methods can be improved using a variety of relatively new approaches."

        The Chartered Institute of Marketing defines marketing as "the management process responsible for identifying, anticipating and satisfying customer requirements profitably." A different concept is the value-based marketing which states the role of marketing to contribute to increasing shareholder value. In this context, marketing is defined as " the management process that seeks to maximize returns to shareholders by developing relationships with valued customers and creating a competitive advantage."

        Marketing practice tended to be seen as a creative industry in the past, which included advertising, distribution and selling. However, because the academic study of marketing makes extensive use of social sciences, psychology, sociology, mathematics, economics, anthropology and neuroscience, the profession is now widely recognized as a science, allowing numerous universities to offer Master-of-Science (MSc) programmes. The overall process starts with marketing research and goes through market segmentation, business planning and execution, ending with pre and post-sales promotional activities. It is also related to many of the creative arts. The marketing literature is also adept at re-inventing itself and its vocabulary according to the times and the culture.

        Browne (2010) reveals that supermarkets intensively research and study consumer behaviour, spending millions of dollars. Their aim is to make sure that shoppers leave spending much more that they originally planned. "Choice" examined the theory of trolleyology finding that many shoppers instinctively look to the right when they're in the supermarket. Supermarkets prey on this biological trait by positioning many expensive impulse buying products to the right of the every checkout. These products consist of the latest DVDs, magazines, chocolates, expensive batteries and other tempting products that wouldn't be on your shopping list. Naturally shoppers pick up the items because of the marketing strategies, victimizing their sub-conscience natures.

        Supermarket move products around to confuse shoppers, the entry point is another marketing tactic. Consumer psychologist Dr. Paul Harrison (cited in Browne, 2010) states that supermarkets are constantly using different methodologies of selling. One method is performing regular overhauls changing the locations of products all around to break habitual shopping, and break your budget. Harrison also contends that people who are shopping in a counter clockwise direction are likely to spend more money than people shopping in a clockwise direction. Consumer psychologists (cited in Browne, 2010) reported that most people write with their right hand, thus it is a biological trait that people have the tendency of veering to the right when shopping, it is understood that supermarkets capitalize on this fact. Found on the capturing right-hand side are usually appealing products that a shopper might impulsively e.g. an umbrella when the weather is dull.

History

Posted by Admin

        Professor Kotler has sketched the history of marketing in the USA according to the following chronological events:1910 Emphasis on engineering; 1920 Financial restructuring, mergers, etc; 1930 Accounting or 'making the books look better' throughout the depression;1940 Production due to need of getting more goods out faster;1950 Sales because production overtook demand; 1960 Marketing identical with developing new products and markets;1970 Greater emphasis on strategic planning;1980 To ensure optimum use of resources. To summarize, the marketing concept had become necessary to correct the following:

        The preoccupation with production as the overriding business activity;

        The communication gap that had developed between customers and their suppliers.

        For many companies in especially the west, successful marketing had been a question of developing a product that could be manufactured continuously in large quantities, to achieve economies of scale. This in turn meant the 'mass marketing' of products to large numbers of people, who had to be persuaded (often through high-pressure promotional techniques) to 'need' a limited range of product options.

        According to the Japanese Marketing expert Ken'ichi Yasumuro, to be able to compete with western manufacturers, Japanese manufacturers, in turn, used 'adaptable marketing systems' or AMS. Linked with flexible manufacturing systems (FMS) this offers a significantly different approach. The AMS and FMS combination allows a wider range of product variants to be produced economically in smaller batches. This in turn enables a closer degree of matching to customer's real needs.

        The 21st century is marked by the true dominance of the customers. Although this shift from sellers market to the buyers market has already started with the rise of competition from especially Asia (Japan, South Korea, China, etc), it has become more intense in the last few years. Companies must combine three things to survive: product orientation, technological innovation, and customer value. Too many companies still design their products without customer input, only to find them rejected in the marketplace. Too many companies forget about their customers after the sale, only to lose their future business. The key to success on the rapidly changing marketing landscape will be a strong focus on the marketplace and a total marketing commitment to providing value to customers.

Yes, it's important!

Posted by Admin

        Some people believe that just by being in business they will get clients or customer. They ascribe to the theory that "if they build it they will come." It rarely happens that way. If you don't let people know about your business, not only do you lose but so do they. Every business owner and solo professional needs to understand the importance of marketing.

        My town had an election for town meeting representatives in April. I live in a bedroom community and the local paper had recently reported that there were not enough town meeting candidates for the required number to get elected. The town was even considering reducing that number of town meeting members because so few seemed interested.

        Shortly before the election I got a flyer under my door requesting a write in vote. The woman was clear about why she wanted to be elected. She stated her qualifications and she also explained how to write in her name since her name was not on the ballot.

        I admired her courage, recognized her name and did in fact vote for her. Turnout was light as you might expect and she got 15 votes but she was elected.

        In discussing this with my neighbor who was the one who put the flyer under my door, he told me that at the last minute her husband decided to run. Since he didn't "campaign" he was not elected. My comment to my neighbor was "I wish I had known I would have voted for him."

        What a disservice people do when they have something to offer that others would benefit from but they don't let others know about it!

        Do you understand the importance of marketing? Is your marketing like the woman or the man in this story? Both were well qualified for the position they were seeking. One kept it a secret and one introduced herself and made a request for a vote. Are you letting people know about your practice or keeping it a secret?

        Many shy away from marketing because they think they are being pushy or that they seem desperate. In fact they are being more like the man in my story. Think of marketing as a way to alert those people who really need your services about what you have to offer.

        How did my neighbor get involved in this marketing effort? He happened to be having coffee at a local coffee shop when he saw a friend having coffee with her friend. His friend's friend was the candidate. The candidate asked my neighbor to support her and he offered to help by canvassing his neighborhood. She gave him some flyers.

        Marketing can be that simple. Notice what happened here. It is all about relationships. My neighbor met the candidate through a friend. I knew the woman from other organizations. You'd be surprised at how many people you know and your marketing action can start with them.

        Of course your friends may not be in your target market but they may know someone who is in your target market or someone who could be a referral source for you. It is said that everyone knows about 250 people and each of them knows 250 etc.

        Marketing can be as simple as tapping into your social network and asking people to help you. The importance of marketing to any business venture cannot be underestimated.

Take Action

1. Who are your 250? Have you told them what you are doing? Start with those you feel most comfortable with first and begin calling them.

2. Use your elevator speech when contacting them.

3. Practice giving examples of how you have used your strengths in job situations. Sometimes just saying something out loud can get you beyond the discomfort. Practice with someone listening to you after you've done it alone for a while.

4. Try creating your own network.

 
jasminlive jasminlive cam