Transcript Document
Company orientations towards the marketplace By Jyoti Sikka, S.S.C.B.S. Presentation Outline Production concept Product concept Selling concept Marketing concept Holistic marketing concept Relationship marketing Integrated marketing Internal marketing Socially responsible marketing Production Concept Consumers favor products that are available and highly affordable Improve production and distribution Focus On Manufacturing (D>S) Goal: Produce All That Is Possible Product Concept Assumption: Consumers favor products that offer the most quality, performance, and innovative features Focus on Manufacturing (D>S) Means: Make quality products “You can have any color you want as long as it’s black.” “Make the best product you can and people will buy it.” “Build a better mousetrap” Selling Concept Mid-1920s–early 1950s: weakened demand required that products would have to be “sold.” (personal selling, advertising, and distribution was the focus) Focus on selling existing products (D=S) Means: Aggressive Sales & promotion Goal: Maximize Sales “Sell this inventory no matter what it takes.” “You don’t like black? I’ll throw a set of glassware.” Marketing Concept Early 1950s–2000s: adopting a customer focus means a commitment to researching and responding to customer needs. Long-Run View Consumer want focus Integrated planning and feedback Adapt to the environment Selling versus Marketing Selling Starting point Factory Focus Product Means Selling & promoting Ends Profits through sales volume Marketing Target market Customer needs Integrated marketing Profits through customer satisfaction Marketing is not synonymous with “sales” or “advertising”. Holistic Marketing Concept 1 Relationship Marketing Developing Marketing Networks Using CRM is “the overall process of building & maintaining profitable customer relationships by delivering superior customer value and satisfaction.” (Kotler, 13ed 2006) Using information to create marketing strategies that develop and sustain desirable customer relationships Establishing long-term, mutually satisfying buyer-seller relationships allowing for mutual dependency Holistic Marketing Concept 2 Integrated Marketing is a comprehensive plan that communicates and delivers the intended value to chosen customers a set of coordinated cross functional activities (a unity of purpose) traditional approach- McCarthy 4P’s Robert Lauterborn- 4C’s Holistic Marketing Concept 3 Internal Marketing External Customers Internal Customers Marketing Strategy Marketing Implementation Internal Marketing Program External Marketing Program Marketing Mix Marketing Mix Target Groups Within the Organization Customer Groups or Target Markets Holistic Marketing Concept 4 Social responsibility Marketing Act socially responsibly; consider the ethical consequences of one’s actions; Focus on satisfying customer needs and wants while enhancing individual and societal well-being Consider the collective needs of society as well as customer desires and the organization’s profits. (Bell& Emory,1971 JM) Society..…… #1 (Human welfare) Consumers ..#2 (Want satisfaction) Company ….#3 (Profits) QUESTIONS ??????