This is a Clilstore unit. You can link all words to dictionaries.

Marketing Introduction: The role of Marketing

 

The role of marketing

   

Understanding the role of marketing in organisations and global markets


Introduction

Marketing as a discipline is a body of knowledge concerned with the relationship of a business to the marketplace.

The marketplace is made up of customers, potential customers, competitors, suppliers, distribution channels, communication media and government regulations.

This course will attempt

1. To introduce the contemporary issues in marketing that illustrates the unique challenges faced by marketing managers in today's dynamic market environment.

2. To develop a framework on which managerial decisions can be made concerning marketing activities.

3. To examine the unique marketing management problems faced by global organisations.

4. To develop an understanding and appreciation of marketing's role in business and society and how it is applied by many companies today.

The objectives will be achieved by providing the theories and practices used in today's marketing and presenting the student with the skills and competencies needed by marketing professionals.

The process of learning will be through case studies that offer the student an interactive way of acquiring fundamental knowledge of marketing. Furthermore, the course will ensure that the student has comprehensive vocabulary of marketing terminology, principles, and concepts.

Market versus production orientation

Marketing as a process can be defined as the identification and profitable identification of customers’ needs. However, any company must operate on profits and meet customer needs in order to survive, why marketing has received immense scrutiny over the years.

(Def. Of The marketing concept: The achievement of corporate goals through meeting and exceeding customer needs better than the competitor. (som link til definitioner)

Though there exists a number of different business approaches, this section will contrast the two dominating ones - Market versus production orientation.

Production orientated companies characterised by:

Market orientated companies focus predominantly on customer needs and:

Marketing, therefore, is concerned with attempting to reduce risk by applying formal techniques systematically to assess the situation and develop the company’s response to it.

Limits to the marketing concept

Though it seems that companies following the marketing approach to their business activities are more successful, critics of the marketing approach have voiced that a company cannot solely rely on the marketing concept but must consider other factors, such as economies of scale, in order to be successful.

Some also believe that reliance on marketing for attaining new markets and ultimately new products has severe limitations. Marketing uses the customer as guide to new innovations, however, customers have difficulty articulating markedly new products beyond their experience.

Globalisation

Domestic companies can no longer ignore foreign competitors, foreign markets and foreign sources of supply. Companies cannot ignore emerging technologies, equipment, materials, labour politics or new ways of organising. In this reality, marketing becomes central to distinguishing your company and its services.

Globalisation relates to the fact that the world is increasingly inter-dependent in all activities of human life. No country or individual is totally self-dependent but need to interact with the world community. This has caused the term "The Global Village" to arise, which attempts to capture the essence of the development, as will be demonstrated below.

The globalisation of markets relates first to demand: tastes, preferences, and value perception. Second, it relates to supply: products and services. Third, it relates to the way firms adapt to the market situation.

Globalisation holds the assumption that the world will be more and more universal and lead to a larger degree of homogeneity among people. This applies to tastes and perception on the demand side, to competition on the supply side, and to marketing designs and control systems for the firms.

However, the globalisation process is followed by a counter force, namely fermentation. The individual is faced with numerous possibilities and will define itself from a wide set of parameters. Self expression becomes paramount in a global world.

Consequently, globalisation causes markets to be more accessible for firms but the consumer is increasingly differentiated within the markets. "The Global Village" symbolises these contradictory forces.

Short url:   https://multidict.net/cs/1604