Assignment 1
- 1. ASSIGNMENT 1 PREPARED FOR: PN MARDZIAH BINTI HASHIM PREPARED BY: NUR DIYANA BINTI MOHD AZMI 2009284864 NOR BAITI BINTI SAHARI 2009240686
- 2. MARKETING
- 3. DEFINITION OF MARKETING Marketing is the process by which companies create customer interest in product or services. It includes process for creating, communication, delivering and exchanging offering that have value for customers, clients, partners, and society. It is integrated process through which companies build strong customer relationships and create value for their customer and for themselves. Marketing is used to identify the customer, to keep the customer, and to satisfy the customer.
- 4. EVOLUTION OF MARKETING Earlier Approaches Orientation Profit driver Western Description Production Production method Until 1950s -specialized in producing as much as possible of a given product/services Product Quality of product Until 1960s -chiefly concerned with the quality of its own product -assume that as long as its product was of a high standard, people would buy and consume the product.
- 5. CONTINUE…… Orientation Profit driver timeframe Description Selling Selling method 1950s and 1960s -focuses primarily on the selling/promotion of a particular product, and not determining new consumer desires as such. Marketing Needs and wants of customers 1970s until present -most common orientation -It involves a firm essentially basing its marketing plans around the marketing concept, and thus supplying products to suit new consumer tastes.
- 6. CONTEMPORARY APPROACHES Orientation Profit driver Timeframe description Relationship marketing/ relationship management Building and keeping good customer relations. 1960s to present -between suppliers and customers -The aim is to give the best possible attention, customer services and therefore build customer loyalty. Business marketing/ industrial marketing Building and keeping relationships between organization 1980s to present -takes place between businesses or organization -The product focus lies on industrial goods or capital goods than consumer product or end products. Social marketing Benefits to society 1990s to present -Similar as marketing orientation but with the added proviso that there will be a curtailment on any harmful activities to society.
- 7. MARKETING RESEARCH Involves conduct research to support marketing activities and statistical interpretation of data into information which is then used to plan marketing activities Market research Marketing research • Research in a given market • Relates to all research conducted within marketing
- 8. MARKETING RESEARCH Market segmentation - division of a market of consumers into persons with similar needs and wants - allows better allocation of a firm’s finite resources Types of marketing research - Primary research - Secondary research
- 9. MARKETING PLANNING Involves forging or create a plan for a firm’s marketing activities. An organization's marketing planning process is derived from its overall business strategy.
- 10. MARKETING SPECIALIZATION firms need to reorient their marketing strategies to meet the challenges of the global marketplace, in addition to sustaining their competitiveness within home markets.