Introducing modern Introducing modern marketing: the systematic marketing: the systematic

thought processthought process

Five marketing propositionsFive marketing propositions Marketing is a management orientation or Marketing is a management orientation or

philosophy.philosophy. Marketing comprises three main elements Marketing comprises three main elements

linked within a system of exchange linked within a system of exchange transactions.transactions.

Marketing is concerned with long-term Marketing is concerned with long-term (strategy) and short-term (tactics).(strategy) and short-term (tactics).

Marketing is especially relevant to late Marketing is especially relevant to late twentieth-century market conditions.twentieth-century market conditions.

Marketing facilitates the efficient conduct of Marketing facilitates the efficient conduct of business.business.

Three main elements linked Three main elements linked within a marketing system-1within a marketing system-1

The attitudes and decisions of customers The attitudes and decisions of customers (target markets) concerning the perceived (target markets) concerning the perceived utility and value of available goods and utility and value of available goods and services, according to their needs, wants services, according to their needs, wants and interests, and ability to pay.and interests, and ability to pay.

The attitudes and decisions of producers The attitudes and decisions of producers concerning their production of goods and concerning their production of goods and services for sale, in the context of their services for sale, in the context of their business environment and long-term business environment and long-term objectives.objectives.

Three main elements linked withiThree main elements linked within a marketing system-2n a marketing system-2

The ways in which producers The ways in which producers communicate with consumers, communicate with consumers, before, during, and after the point of before, during, and after the point of sale, and distribute or provide access sale, and distribute or provide access to their products.to their products.

Summary of the marketing Summary of the marketing system-1system-1

ProcessProcess Marketing research Marketing research

and analysisand analysis

DescriptionDescription Continuous, detailed Continuous, detailed

appreciation of the appreciation of the historic and projected historic and projected trends in the external trends in the external business environment; business environment; includes consumer includes consumer research and evaluation research and evaluation of previous marketing of previous marketing expenditure and expenditure and results.results.

Summary of the marketing systeSummary of the marketing system-2m-2

ProcessProcess Business strategy Business strategy

and marketing and marketing planningplanning

DescriptionDescription Developing Developing

research and research and analysis into overall analysis into overall business and business and marketing marketing strategies and strategies and operational plans; operational plans; includes product includes product and capacity plans.and capacity plans.

Summary of the marketing systeSummary of the marketing system-3m-3

ProcessProcess Campaign planning Campaign planning

and budgetingand budgeting

DescriptionDescription Producing costed opProducing costed op

erational programmerational programmes to integrate the foes to integrate the four main marketing mur main marketing mix elements of produix elements of products, prices, promotiocts, prices, promotion and distribution.n and distribution.

Summary of the marketing system-Summary of the marketing system-44

ProcessProcess Action programmes/iAction programmes/i

mplementationmplementation

DescriptionDescription Detailed programmeDetailed programme

s of weekly and monts of weekly and monthly activity for all forhly activity for all forms of promotion and ms of promotion and distribution.distribution.

Summary of the marketing system-Summary of the marketing system-55

ProcessProcess Evaluation, monitoring Evaluation, monitoring

and controland control

DescriptionDescription Monitoring and evaluatiMonitoring and evaluati

ng the results of compleng the results of completed marketing activity; ited marketing activity; includes customer researncludes customer research. Feeds data into the nch. Feeds data into the next cycle of the marketinext cycle of the marketing process. May involve ag process. May involve adjustment of current actdjustment of current action programmes.ion programmes.