1. Marketing Strategy and the Environment PDF

Preview

Summary

Marketing Principles MAN Lecture 110/02/1. Marketing Strategy and the Environment Marketing concept = achievement of corporate goals through mee ting and exceeding customer needs and expectations better than the competition ➔ Customer orientation = corporate activities focused upon pr oviding custom...

Description

Marketing Principles MAN1075 Lecture 1 10/02/2020

1. Marketing Strategy and the Environment -

Marketing concept = achievement of corporate goals through meeting and exceeding customer needs and expectations better than the competition ➔ Customer orientation = corporate activities focused upon providing customer satisfaction ➔ Integrated effort = all staff accepting responsibility for creating customer satisfaction ➔ Goal achievement = belief that corporate goals can be achieved through customer satisfaction

Elements of market orientation - Customer needs - Potential market opportunities - Marketing products and services - Customers Elements of production orientation - Production capabilities - Manufacture product - Aggressive sales effort - Customers

Market driven = keep customer central Internal focus (product orientation) = more concerned with convenience Benefits of marketing concept - Customer value - Customer satisfaction - Customer loyalty - Long-term customer relationships

Delighters = things customer was not expecting and makes their experience better - if it was not there, they would not be dissatisfied (added bonus) Must be = the bare minimum

Marketing Principles MAN1075 Lecture 1 10/02/2020

Role of marketing in the organisation - Identify and communicate customer wants and needs throughout the organisation - Determine the competitive positioning to match the needs of the customers with company capabilities - Arrange all relevant organisational resources to deliver customer satisfaction Strategic decisions concerned with: - Long term direction of the organisation - Achieving some advantage - Scope of an organisation’s activities - Matching the activities of the organisation to the environment in which it operates Marketing strategy - Achieving a superior competitive position within a defined market Types of marketing objectives - Market leader strategy ➔ Expand overall market - find new users ➔ Guard existing share - strengthen positioning and customer relations ➔ Expand current share - geographic expansion - Increase share of existing market - encourage switching behaviour from competitors - Improve profitability within existing market share - reduce costs and increase margins...