• 1 : the process or technique of promoting, selling, and distributing a product or service 2 : an aggregate of functions involved in moving goods from producer to consumer
• The commercial functions involved in transferringgoods from producer to consumer.
(American Heritage Dictionnary)
American Marketing Association
• 1935 : "Marketing is the performance of business activities that direct the flow of goods and services from producers to consumers." • 1985 : "Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods and servicesto create exchanges that satisfy individual and organizational objectives • 2004 :"Marketing is 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."
• Marketing is the identification and profitable satisfaction ofcustomer’s needs. • Marketing is the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods, services, organizations to create exchanges that satisfy individual and organizational objectives (American
• ….organizations and events to create and maintain relationships that will satisfy….
• “the management processresponsible for identifying, anticipating and satisfying customer requirements profitably“
(Institute of Marketing)
A social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others (Principles of Marketing, Kotler…)
The PHILOSOPHY of BUSINESS
Peter Doyle University of Warwick
• Many people think of marketing only as selling and advertising. • Selling and advertising are only the tip of the marketing iceberg. • If the marketer does a good job of identifying customer needs, develops products that provide superior value, distributes and promotes them effectively, these goods will sell very easily.
Another comment :
“The aim of marketing is to makeselling superfluous. The aim is to know and understand the customer so well that the product or service fits…and sell itself”
Peter Drucker, “Management, tasks, responsibilities, practices”. Harper & Row, 1973.
A product needs to have a market.
Focus on customer needs :
1. Existing needs/markets 2. Latent (have, non satisfied) 3. Incipient (don’t know yet)
Marketing Strategy and planning.Marketing planning :
• Strategic plan • Long range plan • Short term plan (annual)
• mission statement : market-oriented, feasible, motivating and specific. • Strategic objectives. • SWOT analysis (Strengths, Weaknesses, Opportunities, Threats) • Portfolio analysis • Objectives and strategies.
Inside research :
• Looking at the market is relatively easy. • Lookinternally : an existing organization cannot do everything. • What can it do best? • Which financial model? • What will be very difficult to do?
Value what you measure & Measure what you value
Speed of change :
• Minimal speed is defined by the market
• Maximum speed is defined by the organisation.
• 3M :”make your work – make your life – simpler, moreefficient, more productive” • IBM : “to become a 100B$ company before the end of the century” • Apple :”to put computer power in the hands of every person”
BHAG : Big, Hairy, Audacious, Goals
“Preserve the core, stimulate progress”
Jim Collins Stanford University, “built to last” 1994.
• Become #1 or #2 in every market we serve and revolutionize this company to have the strengths...