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© 2012 Pearson Education, Inc. publishing Prentice Hall. Note 15 The Marketing Concept.

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Presentation on theme: "© 2012 Pearson Education, Inc. publishing Prentice Hall. Note 15 The Marketing Concept."— Presentation transcript:

1 © 2012 Pearson Education, Inc. publishing Prentice Hall. Note 15 The Marketing Concept

2 © 2012 Pearson Education, Inc. publishing Prentice Hall. Introduction  Individual executives, management teams, and whole corporate cultures tend to have distinctive priorities and approaches to problem solving  Managerial orientations shape resulting strategies 2

3 © 2012 Pearson Education, Inc. publishing Prentice Hall. Introduction  Marketing concept - firms will be most successful at achieving goals when they orient around the consumers’ needs and align the entire organization around satisfying those needs  Market orientation - a firm wide customer and competitor focus and coordination of activities 3

4 © 2012 Pearson Education, Inc. publishing Prentice Hall. A Historic, Evolutionary Account  In the early twentieth century, demand for goods exceeded supply, and managers focused on efficient manufacturing and control - their emphasis was on production  This period has been called the production era 4

5 © 2012 Pearson Education, Inc. publishing Prentice Hall. A Historic, Evolutionary Account  In the mid-twentieth century, supply began to meet and exceed demand  Managers recognized that promotion and selling activities facilitated sales in competitive markets  Large dry-goods companies, innovated their advertising and promotion strategies during the sales era 5

6 © 2012 Pearson Education, Inc. publishing Prentice Hall. A Historic, Evolutionary Account  In the 1950s and 1960s, businesses and management experts recognized that:  The core organizational functions and strategic direction become more effective and efficient if:  They began with a deep understanding of and emphasis on customer needs and wants 6

7 © 2012 Pearson Education, Inc. publishing Prentice Hall. A Historic, Evolutionary Account  Things that a market orientation is not:  It is not an altruistic or feel good mantra  It doesn’t imply that the firm should or could serve a need without realizing a profit  It does not mean that the customer is always right  It does not cede control to the customer  It doesn’t require the firm to meet every customer whim  Does not require that customers can articulate their wants, or that they even know what they will want or what will satisfy their need 7

8 © 2012 Pearson Education, Inc. publishing Prentice Hall. Table Note Needs, Motives, Wants, and Demand 8

9 All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior written permission of the publisher. Printed in the United States of America. Copyright © 2012 Pearson Education, Inc. Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall


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