Company orientation toward the marketplace
9 important questions on Company orientation toward the marketplace
What are the different marketing concepts?
- Production concept
- Product concept
- Selling concept
- Marketing concept
- Holistic marketing concept
Only the marketing concept focuses on the customer!
What is the production concept?
Managers focus on: production efficiency, low costs, and mass distribution.
What is the product concept?
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What is the selling concept?
Explain the holistic marketing concept. What does it consist of?
Acknowledges that everything matters in marketing and that a broad, integrated perspective is often necessary.
Consists of:
- Relationship marketing
- Integrated marketing
- Internal marketing
- Performance marketing
As a component of holistic marketing. What is relationship marketing?
- The aim is to build mutually satisfying long-term relationships with key constituents in order to earn an retain their business.
- Key constituents are employees, customers, marketing partners and members of financial community.
- Developing relationship by understanding their capabilities, needs, goals, resources and desires.
- Ultimate outcome marketing network consists of the company and all key stakeholders.
Explain integrated marketing (holistic marketing concept)
Key themes are (1) many different marketing activities create, communicate and deliver value and (2) marketers should design and implement any one marketing activity with all other activities in mind.
As a component of holistic marketing. What is internal marketing?
- Task of hiring, training and motivating employees who want to serve customers well.
- Everyone in the organization embraces appropriate marketing principles.
Explain performance marketing (holistic marketing concept)
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- Never study anything twice again
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- 100% sure, 100% understanding
