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| Focus on efficiency in production and distribution of goods and services |
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| Focus on making good products and improving them over time. |
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| Actions directed at stimulating customers’ interest through aggressive sales and promotion efforts; advertising, discounts, high-pressure selling |
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| Focus on identifying and responding to the needs of the purchaser; Generates profit through the creation of customer value |
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| companies sell and customers buy; sales driven corporate; no actual customer relationships |
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| customer is in the very heart of the corporate focus, company is doing ist very best in order to meet customers expectations and create great customer experience |
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| customers and a company are in solid relationship, need one another and succeed together |
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| state of perceived deprivation; basic human requirements |
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| desire for a specific satisfied of a deeper need |
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| Want that is backed up by an ability to pay |
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| a major part of the market dislikes or doesn’t want a product, and may even pay to avoid it. (Health care is such a negative good.) |
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| Maslow’s Hierarchy of Needs |
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| self-actualization, experience purpose, esteem need, love and belonging needs, security need, physiological needs |
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| meaning and realizing all inner potentials |
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| the need to be a unique individual with self-respect and to enjoy general esteem from others |
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| the need for belonging to recieve and give love, appreciation, friendship |
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| the basic need for social security in a family and a society that protects against hunger and violence |
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| the need for food water, shelter and clothing |
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| Production orientation example: |
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| look over in the ‘GNC’ section on Aisle 13A |
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| Product orientation example: |
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| we have a couple of different products; the Certified Brand is more consistent in delivering the active ingredient |
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| Selling orientation example: |
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| That’s a good start, but we also have found that this time of year many people benefit from increasing their exposure to artificial sunlight … here’s our Vitality Lamp |
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| Marketing orientation example: |
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| Tell me more about why you think you need St. John’s Wort |
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| product, price, place, promotion, positioning |
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| These are variables that a company can control which may influence customer responses |
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| 5 P's of the marketing mix |
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| the mix of goods and services provided by the pharmacy |
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| the organizations's reason for being |
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| cannot be limited to its production |
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| the product mix must arise |
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| from the mission and vision of the firm, and market needs |
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| changing demographics and social roles |
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| must drive reevaluation of your product mix |
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| products and services that are unique |
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| must be sufficient to cover costs and return a profit |
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| price image is the perception that the consumer has of the firm |
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| and often connotes quality in the consumer's mind (upscale, good deal, low quality, luxury) |
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| problematic to mix different price at one location |
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| grades of products or services (mink coats at wal-mart? cheap flip-flops at Nordstrom's?) |
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| price as experienced by consumer is what must be given up to receive good or service |
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| may be willing to pay a higher price to reduce other non-cash "costs" (time, effort, transportation, risk or uncertainty) |
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| decisions about place include both business location and |
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| means of distributing goods and services to the consumer |
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| place considers how to create value |
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Definition
| by providing a good or service to the consumer when and where they most want it |
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| the best location is not the place with the lowest rent |
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| it is where you have greatest access to the desired customers |
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| important elements of place are |
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| determined by a location analysis |
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| activities seeking to inform, remind, persuade; directed at a target market |
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| promotions are designed to translate needs into want and demands |
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| translate needs into want and demands |
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| promotion may include crisis management communications |
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| paid, nonpersonal promotion by a sponsor |
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| nonpersonal information about a product or organization that is not paid for by the organization |
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| sales presentations to individual customers and referral sources |
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| approach for small businesses using low cost imaginative techniques, often resulting in free publicity, to market the firm and its products |
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| The act of designing the company’s offering and image to occupy a distinctive place in the mind of the target market |
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| a positioning statement that sets forth; what benefit do you provid?, for whom is it provided?, how do you do it uniquely well? |
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| value proposition informs |
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| shareholders and trustees, employees, suppliers, customers |
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| personal promotion and positioning--build an influence network |
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Definition
| civic and social involvement, professional involvement, political involvement and effective and safe use of social media |
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| marketing is a majorstrategic area for business and individuals |
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Definition
| determine your market orientation, remember that people do things for their own reasons |
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| develop your company's and your own value proposition |
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Definition
| monitor your ability to deliver it to others |
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