All of the mentioned and followed occurrences after the World War II Free Essay Example

All of the mentioned and followed occurrences after the World War II with the massive migratory flux in United Sates, economic upswing, rapid increase of birth rate (which the next generation presented to become the next customer afflux) (Bake and Saren 2010 p.

12) and with the desire to avoid repeating past marketing errors, called for a new marketing approach (customer-driving approach) (Baker and Saren 2010 p.12-13; Kotler 1967 in Baker and Saren 2010 p.14) and thus, generated in the 50’s-60’s to a reexamination of marketing (Baker and Saren 2010 p.9), opening up to the period of marketing era (Keith 1960 in Baker and Saren 2010 p.10); Managerial Marketing (1950-1975) and Behavioral Marketing (1965+) (Sheth & Gross 1988 in Hollander et al. 2005 p.33); Modern Marketing Thought (1957-Present) (Jones & Shaw 2002 in Hollander et al. 2005 p.33), Managerial Stage II (1958-1970) (Jackson 1979 in Hollander et al. 2005 p.3) and referred as the second major phase of marketing evolution (Baker and Saren 2010 p.3), marked by a transition of marketing orientation by cause of; A further and deeper research and analysis of the history and evolution of marketing (1) thought (ideas, concepts and theories and schools of thought) (Bartels 1962; Converse, 1959; Coolsen 1960; Schwartz 1963 in Baker & Saren 2010 p.52; 55-56) and (2) practice (including marketing activities among other being; advertisement, retailing, distribution, product design, consumption behavior) (Barger 1955; Emmet and Jeuck 1950; Jones 1936; Kirkwood 1960; Marburg 1951; Nystrom 1951; Phillips, 1935 in B&S 2010 p.54-55) Observe marketing objectives results and so marketing strategy and activities to be influenced not only by internal environment factors but also external once including both task environment factors (actors participating in marketing system among other being; consumers, suppliers, retailors) and broad environment forces (social-cultural, economic, technological, political/legal, demographic etc.

) (Converse 1959 in Baker and Saren p.54-55; Holloway and Hancock 1964, 1968; Scott and Marks 1968 in Hunt 2010 p.15; Kotler 1999 p.9; Kotler and Armstrong 1999 p.45) Chronologically and on account to the development of marketing management schools hence to:(i) Acknowledge that creating customers value and satisfaction is placed at the heart of (modern) marketing thinking and practice. In practice, marketing objective is to (at a profit) keep costumer by delivering satisfaction with consistency and attract new ones by promising superior value in comparison to their competitors (Baker and Saren 2010 p.13; Kotler and Armstrong 1999 p.6). (ii) Acknowledge the importance of and keeping track, finding unique problem-solving and strategic decisions to marketing environments changes as they consistently generate marketing problems and challenges, and which, must be therefore translated into opportunities and work toward them efficiently throughout a coordinated, well-designed and managed marketing activities using the same vital elements of management to archive effectively marketing objectives set as it plays a vital role in archiving organizational goals set (Kotler and Armstrong 1999 p.10; 44-45; Baker and Saren 2010 p.14). (iii) Develop powerful and adjacent to each; marketing management concepts, powerful behavioral, market theories (such as; marketing mix (Borden 1965); Porter’s 5-forces (Porter 1979), SWOT analysis (Porter 1978)) (Lјdicke 2006 p.4). (iv) Recognize marketing as a (management) process (Belshaw 1965 in Kotler and Zaltman 1971 p. 4; Kotler and Armstrong 1999 p.10;44; Hunt 2010 p.61; 64) of analyzing marketing opportunities, selecting target market, developing well-coordinated marketing program, and managing marketing efforts (Kotler and Armstrong 1999 p.10;45). For that reason, marketing must follow the positivism sequences of constant analyzing (company markets and its environments), planning (deciding on marketing strategies for each marketing mix that would help attain objectives), implementation (execute effective actions carried out by marketing activities involved needed) and control (evaluating results and take corrective actions if needed) (Kotler and Armstrong 1999 p.50-55)(v) Redefine marketing (management) that is of developing unique solution to competitive marketing problems and managing markets to bring about (desired) exchanges and relationships for the purpose of creating value and satisfying the needs and want [] by creating and exchanging products and value with others (Kotler and Armstrong 1999 p.10) for personal and mutual gain (Kotler and Zaltman 1971 p.4) and which relies on strategical adaptation and coordination of the four (1) product (market offering designed coordinately to customers’ needs and wants to motivate costumer behavior and satisfy them) (2) price (product/service must deliver value to the consumer and so, must be priced adequately) (3) promotion (marketing communications having the function to reach, inform and persuade) (4) place (function to display, sell, deliver, product placement at convenient locations and distribution channel(s) to display, sell, deliver for the product to be easily available to consumers as it is where consumers translate his motivation into action (exchange), yet, still remaining strategically adequate for other related activities to be carried out such as; distribution and inventory) (Borden 1965; Kotler 1999 p.9-10; Kotler and Armstrong 1999 p.47-50; Kotler and Zaltman 1971 p.7-9). Further adjacent to marketing management, appeared consequently another and further developed-dominant marketing management concept; (4) marketing concept. Contractionary to the other concepts, although still resting on the pursuing profitability’s pillar (and/or other objectives for non-profit organizations), this one aim to do so by targeting and satisfying its customers using a customer-orientated approach (Fahy and Jobber 2015 p.9; 2) for the reason that organization’s source of income comes from both acquired costumers and most importantly loyal once (Sellers 1986 in Kotler 1999 p.12-13): Selling focuses on the needs of the seller; marketing on the needs of the buyer. Selling is preoccupied with the seller’s need to convert his product into cash; marketing with the idea of satisfying the needs of the customer (Levitt 1960 in Kotler 1999 p.12) by creating, delivering, and communicating customer value to its chosen target markets (Kotler 1999 p.17) (ideally) better than the competitors. This result for some marketing authors to define marketing’s essence as the establishment of mutually satisfying exchange relationships (Baker and Saren 2010 p.3). As marketing functions and activities are conducted throughout multitude of various professions and department (Hunt 2010 p.55) (sales department, retail, advertising and public relation and sometimes operated by independent specialized agencies) all must work seamlessly together, coordinately with the business’s philosophy, represented and work toward as well by all other departments (internal marketing approach) to forge creating, delivering and communicating customer value as it is believed that each plays and affect costumer’s perception and entire experience, influencing his/her attitude and level of satisfaction (increasing brand equity) (Kotler 1999 p.13, Keller and Kotler In Jagdish et al. 2006 p.301). This last pillar’s concept approach (designated as integrated marketing), calls marketing practitioners to use both an integrated communication strategy (choosing and mixing different advantageous marketing channels that each complete one another) and an integrated channels strategy (choosing and/or mixing direct/indirect point of sales) (Keller and Kotler in Jagdish et al. 2006 p.303). It is said that (Kotler 1999 p.13) organization that truly apply costumer-orientation as their business philosophy, rotates the traditional company’s organization at 180-degree (internal marketing approach); putting customers on top priority followed by employees having direct contact with them and placing the CEO at last (Kotler 1999 p.13). Further, the development of marketing ideas, tools and techniques lead to obverse and remark marketing to be practiced and beneficial as well for nonbusiness/nonprofit oriented organizations (Kotler and Levy 1969 in Hunt 2010 p.8; Kotler and Zaltman 1971 p.5). Although some had been resilient to extend and merge marketing with nonprofit organizations from fear that it could bring further irrelevancy and unpracticality for marketing practitioners (Luck 1969 in Hunt p.9, in O’Shaughnessy 1990 p. 3), this empirical remark gave further reasons that marketing could no longer be defined solely through activities of transportation (and distribution), buying and selling (Lavidge 1970 in Hunt 2010 p.9) of tangible goods (Vargo and Lusch 2004 in Hunt 2010 p.62) for ultimate goal and concern of market transaction, but rather, should be defined in a more inclusive way (Kotler 1972 in Hunt 2010 p.9-10). To reinforce it idea, marketing academicians reasoned it throughout a clearer marketing core essence’s explanation. Doubtlessly, as marketing action and theory’s core essence remain as exchange (Lјdicke 2006 p.6), exchange process (Kotler 1999 p.4) and transaction (Newman 1993 p.8) or transfer (Kotler 1999 p.7), this one stressed out to lie on general idea of exchange (Kotler and Levy 1969 in Hunt 2010 p.9) and of value (Kotler 1972 in Hunt 2010 p.9-10; Carman in O’Shaughnessy 1990 p.3) intended to be beneficial and satisfy both involved parties. The exchange being a process that permits to smooth operation of the exchange relationship (Kotler 1999 p.4, Banker and Saren 2010 p.124; Kotler 1999 p.7) must be therefore primarily concerned with how transactions are created, stimulated, facilitated, and valued (Kotler 1972 in Hunt 2010 p.9-10) as this crucial analysis increase chances that the exchange will take place (Kotler 1999 p.7). Later, this reasoning had been further justified with the remark that many non-profit institutions are part of marketing actors as they play a central role in marketing practice and its regulation as they guide, inform, and regulate ethical, responsible, and legal marketing Hunt (2010 p.62). For that reason marketing (management) is now defined as the art and science of applying core marketing concepts to choose target markets and get, keep, and grow customers through creating (tangible and/or intangible market offerings in accordance with of consumers’ needs, wants, tastes, and preferences, that holds therefore tangible and/or intangible as well as objective and subjective attributes to the customer’s point of view), delivering (that include the activities, channels, intermediaries and processes of distribution), and communicating superior customer value (inform availability and attributes of market offering). (Kotler 1999 p.4, Hunt 2010 p.62). All the developed marketing ideas helped to elaborate fundamental marketing key concepts (Baker and Saren 2010 p.63). These principals and interrelated elements (some described below), applied by marketing managers, embody what marketing is requisitely concerned with, helping further to capture what marketing is and what it does (Kotler 1999 p.4): – Needs, Wants and Demand Benchmarked by Maslow’s hierarchy of needs Theory, needs are existing basic and universal human needs that marketers cannot create (Kotler 1999 p.6). None the less, marketing is recognizing and discovering needs, and, meeting and fulfilling them profitably and/or beneficially (Kotler 1999 p.1). Wants in the other hand and although may function to fulfil a need, can differ from one individual to another as this one is shaped by culture and individual personality. Demand is a want with the added rule that the want can be backed by the individual’s buying power (Kotler and Armstrong 1999 p.4; Kotler 2012 p.31-32). – Target Markets and Segmentation As stated, wants differ from one individual to another and so its psychological state of satisfaction (see page). In this regard, marketers must examine and identify the most potential segments of buyers (market segmentation) throughout demographic, psychographic, and behavioral differences of all buyers in the (present/potentially future) market where the firm (is/will potentially) operates. Marketing stimuli as well as economic, technological, political and cultural environmental circumstances enter the buyer’s consciousness and in turn, purchase decisions are influenced and determined throughout one’s characteristics and decision process (McDonald and Dunbar 2004 in Baker and Saren 2010 p.237; Kotler 1999 p.88). Thus, consumer behavior factors (culture, social, personal and/or and psychological) influencing to buying behavior actions, must be scrutinized whereas they help determine the most potential target segment, develop most effective and suited market offerings (Kotler 1999 p.4), strategic marketing process (Kotler 1999 p.87-88; Baker and Saren 2010 p.244) and coordinated marketing programs (Baker and Saren 2010 p.124) and thus, help achieve successfully marketing end-objectives