Unfortunately, there is
still a misunderstanding about the word marketing.
Many people, including top executives, use it as a
sophisticated term for selling. Marketing
representative is commonly used in ads to recruit
salespeople. Actually, marketing is a way of managing
a business so that each critical business decision is
made with full knowledge of the impact it will have on
the customer.
Here are some specific
ways in which the marketing concept approach differs
from the classic, or sales, approach to managing a
business.
1. In the classic
approach, engineers and designers create a product,
which is then given to salespeople who are told to
find customers and sell the product. In the
marketing approach, the first step is to determine
what the customer needs or wants. That information is
given to designers who develop the product and finally
to engineers who produce it. Thus, the sales approach
only ends with the customer, while the marketing
approach begins and ends with the customer.
2. The second major
difference between the sales and marketing approaches
is the focus of management. The sales approach
almost always focuses on volume while the marketing
approach focuses on profit.
In short, under the
classic (sales) approach the customer exists for the
business, while under the marketing approach the
business exists for the customer.
The marketing concept
is a management plan that views all marketing
components as part of a total system that requires
effective planning, organization, leadership and
control. It is based on the importance of customers to
a firm, and states that:
- All company policies
and activities should be aimed at satisfying
customer needs.
- Profitable sales
volume is a better company goal than maximum sales
volume.
In order to conduct a
successful marketing concept program you must be able
to answer the following questions:
1. What type of
business are you in (manufacturing, merchandising or
service)?
2. What is the
nature of your product(s) or service(s)?
3. What market
segments do you intend to serve? (Describe the
age, gender, income level and life-style
characteristics of each market segment.)
4. What strategies
will you use to attract and keep customers?
- Product
- Price
- Place
- Promotion
- Persuasion (personal
selling)
5. What is your
unique selling proposition (USP)?
6. Who is your
competition, and what will you do to control your
share of the market?
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