Unit 1: Marketing
Concept and process of marketing
Marketing is too important to leave to the marketing department.
(Bill Packard, Hewlett Packard, in Piercy, 1997)
Investigate the concept and process of marketing
Definitions: alternative definitions including those of the Chartered Institute of Marketing and the American Marketing Association, satisfying customers’ needs and wants, value and satisfaction, exchange relationships, the changing emphasis of marketing
Marketing concept: evolution of marketing, business orientations, societal issues and emergent philosophies, customer and competitor orientation, efficiency and effectiveness, limitations of the marketing concept
Marketing process overview: marketing audit, integrated marketing, environmental analysis, SWOT analysis, marketing objectives, constraints, options, plans to include target markets and marketing mix, scope of marketing
Costs and benefits: benefits of building customer satisfaction, desired quality, service and customer care, relationship marketing, customer retention, customer profitability, costs of too narrow a marketing focus, total quality marketing
Suggested Reading
Marketing: Principles and Practice
Principles and Practice of Marketing, 3rd Ed.
Principles of Marketing: European Edition
