Marketing - Wikipedia, the Free Encyclopedia

Marketing - Wikipedia, the free encyclopedia http://en.wikipedia.org/wiki/Marketing Marketing From Wikipedia, the free encyclopedia Marketing is the process of communicating the value of a product or service to customers, for the purpose of selling that product or service. Marketing can be looked at as an organizational function and a set of processes for creating, delivering and communicating value to customers, and customer relationship management that also benefits the organization. Marketing is the science of choosing target markets through market analysis and market segmentation, as well as understanding consumer behavior and providing superior customer value. From a societal point of view, marketing is the link between a society's material requirements and its economic patterns of response. Marketing satisfies these needs and wants through exchange processes and building long term relationships. Marketing may be defined in several ways, depending on the role of the advertised enterprise in relation to the strategic role in positioning the firm within its competitive market. The main definition is often credited to Philip Kotler, recognized as the originator of the most recent developments in the field, for the works that appeared from 1967 to 2009, with the latest work born from the last economic crisis: Chaotics. Contents 1 History 1.1 Earlier approaches 1.2 Contemporary approaches 2 Customer orientation 2.1 Organizational orientation 2.1.1 Herd behavior 2.1.2 Further orientations 3 Marketing research 3.1 Marketing environment 3.2 Market segmentation 3.3 Types of market research 4 Types of marketing 5 Marketing planning 5.1 Marketing strategy 5.2 Positioning 6 Buying behavior 6.1 B2C buying behavior 6.2 B2B buying behavior 7 Use of technologies 8 Services marketing 1 of 14 7/9/2014 9:18 PM Marketing - Wikipedia, the free encyclopedia http://en.wikipedia.org/wiki/Marketing 9 Right-time marketing 10 Guerrilla marketing 11 See also 12 References 13 Bibliography 13.1 Works cited 14 External links History The origins of the concept of marketing have their roots with the Italian economist Giancarlo Pallavicini in 1959.[1] These roots are accompanied by the initial in-depth market research, constituting the first instruments of what became the modern marketing, resumed and developed at a later time by Philip Kotler. Giancarlo Pallavicini introduces, the following definitions: Marketing is defined as a social and managerial process designed to meet the needs and requirements of consumers through the processes of creating and exchanging products and values. It is the art and science of identifying, creating and delivering value to meet the needs of a target market, making a profit : delivery of satisfaction at a price. Earlier approaches The marketing orientation evolved from earlier orientations, namely, the production orientation, the product orientation and the selling orientation.[2][3] 2 of 14 7/9/2014 9:18 PM Marketing - Wikipedia, the free encyclopedia http://en.wikipedia.org/wiki/Marketing Western Profit Orientation European Description driver timeframe A firm focusing on a production orientation specializes in producing as much as possible of a given product or service. Thus, this signifies a firm exploiting economies of scale until the minimum efficient scale is Production until the [3] reached. A production orientation may be deployed when a high Production methods 1950s demand for a product or service exists, coupled with a good certainty that consumer tastes will not rapidly alter (similar to the sales orientation). A firm employing a product orientation is chiefly concerned with the Quality of until the quality of its own product. A firm would also assume that as long as its [3] the Product 1960s product was of a high standard, people would buy and consume the product product. A firm using a sales orientation focuses primarily on the selling/promotion of a particular product, and not determining new consumer desires as such. Consequently, this entails simply selling an already existing product, and using promotion techniques to attain the [3] Selling 1950s and highest sales possible. Selling methods 1960s Such an orientation may suit scenarios in which a firm holds dead stock, or otherwise sells a product that is in high demand, with little likelihood of changes in consumer tastes that would diminish demand. The 'Customer orientation' is perhaps the most common orientation used in contemporary marketing. It involves a firm essentially basing its marketing plans around the marketing concept, and thus supplying products to suit new consumer tastes. As an example, a firm would employ market research to gauge consumer desires, use R&D (research and development) to develop a product attuned to the Needs and 1970s to revealed information, and then utilize promotion techniques to ensure Marketing[3] wants of the present persons know the product exists. R&D companies often parallel customers day customer orientation with R&D phases to ensure the desired customer specifications are produced. Customization Maximization (similar to profit maximization in economics,) is the measurable approach to more efficiently sustaining specific customer needs, in effort to maximize the customization of the product or service offered to the customer, by the measure of data relating to responses, feedback, and elasticity. The holistic marketing concept looks at marketing as a complex activity and acknowledges that everything matters in marketing - and Everything that a broad and integrated perspective is necessary in developing, Holistic 21st matters in designing and implementing marketing programs and activities. The [4] century Marketing marketing four components that characterize holistic marketing are relationship marketing, internal marketing, integrated marketing, and socially responsive marketing. Market segmentation and positioning have 3 of 14 7/9/2014 9:18 PM Marketing - Wikipedia, the free encyclopedia http://en.wikipedia.org/wiki/Marketing increased the divergence of society, further segregating and preventing a holistic population. Holistic Marketing helps converge the segments in an approach to improve the entire market through social responsibility and convergence. Holistic marketing disengages the political marketing activities of "divide and conquer", or market segmentation. Contemporary approaches Recent approaches in marketing include relationship marketing with focus on the customer, business marketing or industrial marketing with focus on an organization or institution and social marketing with focus on benefits to society.[5] New forms of marketing also use the internet and are therefore called internet marketing or more generally e-marketing, online marketing, "digital marketing", search engine marketing, or desktop advertising. It attempts to perfect the segmentation strategy used in traditional marketing. It targets its audience more precisely, and is sometimes called personalized marketing or one-to-one marketing. Internet marketing is sometimes considered to be broad in scope, because it not only refers to marketing on the Internet, but also includes marketing done via e-mail, wireless media as well as driving audience from traditional marketing methods like radio and billboard to internet properties or landing page. Western Profit Orientation European Description driver timeframe Relationship Building and marketing / keeping 1960s to Emphasis is placed on the whole relationship between suppliers Relationship good present and customers. The aim is to provide the best possible customer [5] customer day service and build customer loyalty. management relations Building and In this context, marketing takes place between businesses or Business keeping 1980s to organizations. The product focus lies on industrial goods or capital marketing / relationships present goods rather than consumer products or end products. Different Industrial between day forms of marketing activities, such as promotion, advertising and marketing organizations communication to the customer are used. 1990s to Similar characteristics to marketing orientation but with the added Societal Benefit to present proviso that there will be a curtailment of any harmful activities to [5] society marketing day society, in either product, production, or selling methods. 1980s to In this context, "branding" refers to the main company philosophy Branding Brand value present and marketing is considered to be an instrument of branding day philosophy. Customer orientation A firm in the market economy survives by producing goods that persons are willing and able to buy. Consequently, ascertaining consumer demand is vital for a firm's future viability and even existence as a going concern. Many companies today have a customer focus (or market orientation). This implies that the company focuses its activities and products on consumer demands. Generally, there are three ways of doing this: the 4 of 14 7/9/2014 9:18 PM Marketing - Wikipedia, the free encyclopedia http://en.wikipedia.org/wiki/Marketing customer-driven approach, the market change identification approach and the product innovation approach.[6] In the consumer-driven approach, consumer wants are the drivers of all strategic marketing decisions. No strategy is pursued until it passes the test of consumer research. Every aspect of a market offering, including the nature of the product itself, is driven by the needs of potential consumers. The starting point is always the consumer. The rationale for this

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