Fundamentals_of_Marketing

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1 MARKETING: DEVELOPMENT AND SCOPE OF THE SUBJECT LEARNING OBJECTIVES By the end of this chapter you should be able to: ■ ■ ■ ■ ■ ■ have a feel for the diversity of the subject of marketing and its historical development; distinguish between different schools of thought in marketing; know what the marketing concept is; understand what is meant by the ‘functionalist’ approach by which this text is organized; have a grasp of the major contemporary environmental trends in marketing; appreciate the adaptive role of marketing strategy.
FUNDAMENTALS OF MARKETING ■ ■ ■ ■ INTRODUCTION The greatest difficulty in writing an academic book about marketing is that people already know much about the subject. The rather dry academic text can seem a poor substitute for the excitement of shopping, or working out what a particular advertisement is saying, telling friends about the latest new product you have bought. Even complaining about the poor level of service received from a shop, the local transport company or perhaps the bank can seem more relevant. Typically, people associate marketing with advertising or selling but while there is no doubt that marketing practice definitely encompasses both, there is much more to the subject than a narrow focus on either advertising or selling might suggest. The true scope of the subject is astonishing and a central aim of this book is to provide a flavour of the diverse nature of marketing. Another key aim is to ensure that your knowledge of marketing is built on solid foundations. For this reason, the approach generally follows the traditional managerialist focus on the ‘4 Ps’ (product, price, promotion and place). Additionally, there is an overview of other perspectives, including social marketing, green marketing and relationship marketing. THE STUDY OF MARKETING There are many different approaches to the study of the marketing subject. Sheth et al. (1988) suggests that there are no less than twelve schools of marketing thought. While the variety of approaches contributes to the dynamism of marketing scholarship, the same diversity may confuse readers who expect marketing to be a unified subject. Readers may think that marketers are being contradictory when actually they represent different approaches to the subject. To discuss this diversity it is useful to outline key issues in the historical development of the study of marketing. To begin with it is important to distinguish the practice of marketing from its academic study. From earliest recorded history markets have existed as a means of bringing producer and consumer together. Likewise individuals have sought to influence the perceptions of others in favour of the goods that they offer. One might also point to medieval courtiers as being early consumers (McCracken, 1990). On the other hand, it can be argued that it is wrong to reach back into history in order to label practices that had a particular meaning and function in earlier times as being ‘marketing’ practices. According to American academics, the study of marketing first began in the US in the late nineteenth century. The following is a simplified account of some of the major developments in the academic study of marketing during the course of the twentieth and twenty-first centuries. Product-centred approaches As the study of marketing developed during the early 1900s, academics focused on understanding and classifying the profusion of products that were coming on to the market. ■ ■ ■ 2
Page 2: FUNDAMENTALS OF MARKETING Fundament
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Page 8 and 9: CONTENTS ■ ■■■ List of illu
Page 10 and 11: ■ ■ ■ ■ CONTENTS Facets of
Page 12 and 13: ILLUSTRATIONS ■ ■ ■ ■ 1 The
Page 14 and 15: TABLES ■ ■ ■ ■ 1.1 Marketin
Page 16 and 17: CASE STUDIES ■ ■ ■ ■ ■
Page 18 and 19: PREFACE ■ ■ ■ ■ This book a
Page 20 and 21: ABBREVIATIONS ■ ■ ■ ■ A&R A
Page 22 and 23: ■ ■ ■ ■ ABBREVIATIONS M&S M
Page 24 and 25: INTRODUCTION A functionalist approa
Page 28 and 29: ■ ■ ■ ■ MARKETING: DEVELOPM
Page 46 and 47: ■ ■ ■ ■ STRATEGIC MARKETING
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■ ■ ■ ■ CONSUMER BUYER BEHA
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■ ■ ■ ■ INDUSTRIAL BUYER BE
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■ ■ ■ ■ MARKETING RESEARCH
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■ ■ ■ ■ SEGMENTATION, TARGE
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7 BRANDING LEARNING OBJECTIVES Afte
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■ ■ ■ ■ BRANDING Lifebuoy c
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■ ■ ■ ■ BRANDING BRAND DECI
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■ ■ ■ ■ BRANDING (loving go
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Next attention was devoted to devel
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■ ■ ■ ■ BRANDING Brands, me
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■ ■ ■ ■ BRANDING that refer
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■ ■ ■ ■ BRANDING Time perio
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■ ■ ■ ■ BRANDING Community
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■ ■ ■ ■ BRANDING against it
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■ ■ ■ ■ BRANDING differenti
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BRAND PERSONALITY: FCUKED? The reta
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8 PRODUCT LEARNING OBJECTIVES When
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■ ■ ■ ■ PRODUCT of the comm
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■ ■ ■ ■ PRODUCT item. Anoth
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■ ■ ■ ■ PRODUCT VIRGIN’S
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■ ■ ■ ■ PRODUCT BUTLINS HOL
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■ ■ ■ ■ PRODUCT Table 8.2 T
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■ ■ ■ ■ PRODUCT stage and s
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■ ■ ■ ■ PRODUCT NEW PRODUCT
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■ ■ ■ ■ PRODUCT employees a
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■ ■ ■ ■ PRODUCT STAGE 3 CON
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■ ■ ■ ■ PRODUCT whitener, w
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■ ■ ■ ■ PRODUCT is a contro
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■ ■ ■ ■ PRODUCT $660m on ho
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■ ■ ■ ■ PRODUCT SIMULATED T
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■ ■ ■ ■ PRODUCT West televi
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■ ■ ■ ■ PRODUCT the product
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■ ■ ■ ■ PRODUCT comparisons
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■ ■ ■ ■ PRODUCT Table 8.5 A
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■ ■ ■ ■ PRODUCT Table 8.6 T
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■ ■ ■ ■ PRODUCT Zealand ind
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9 PRICING LEARNING OBJECTIVES When
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■ ■ ■ ■ PRICING PRICE AND T
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■ ■ ■ ■ PRICING need for th
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■ ■ ■ ■ PRICING Table 9.1 S
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■ ■ ■ ■ PRICING go out of b
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■ ■ ■ ■ PRICING one. Unlike
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■ ■ ■ ■ PRICING ■ ■ ■
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■ ■ ■ ■ PRICING updated. Th
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■ ■ ■ ■ PRICING in US terms
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■ ■ ■ ■ PRICING often are c
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■ ■ ■ ■ PRICING CAR PRICE W
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■ ■ ■ ■ PRICING Clearly, a
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■ ■ ■ ■ PRICING CONCLUSION
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■ ■ ■ ■ PROMOTION INTRODUCT
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■ ■ ■ ■ PROMOTION Table 10.
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■ ■ ■ ■ PROMOTION made redu
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■ ■ ■ ■ PROMOTION scope. On
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■ ■ ■ ■ PROMOTION disease-r
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■ ■ ■ ■ PROMOTION Client Th
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■ ■ ■ ■ PROMOTION or of gen
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■ ■ ■ ■ PROMOTION of involv
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■ ■ ■ ■ PROMOTION Chapter 7
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■ ■ ■ ■ PROMOTION ONE VOICE
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■ ■ ■ ■ PROMOTION ■ ■
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■ ■ ■ ■ PROMOTION someone w
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■ ■ ■ ■ PROMOTION planning
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■ ■ ■ ■ PROMOTION comprisin
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MADAME TUSSAUD’S SEEKS STAR PARTN
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■ ■ ■ ■ PROMOTION ADVERTISI
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■ ■ ■ ■ PROMOTION Some mode
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■ ■ ■ ■ PROMOTION ANALYSE T
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■ ■ ■ ■ PROMOTION SOCIAL AD
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■ ■ ■ ■ PROMOTION CONCLUSIO
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11PLACE: CHANNELS OF DISTRIBUTION L
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■ ■ ■ ■ PLACE: CHANNELS OF
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12 VIRTUAL MARKETING LEARNING OBJEC
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■ ■ ■ ■ VIRTUAL MARKETING d
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■ ■ ■ ■ VIRTUAL MARKETING t
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■ ■ ■ ■ VIRTUAL MARKETING F
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■ ■ ■ ■ VIRTUAL MARKETING R
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■ ■ ■ ■ VIRTUAL MARKETING D
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■ ■ ■ ■ VIRTUAL MARKETING c
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■ ■ ■ ■ VIRTUAL MARKETING p
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■ ■ ■ ■ VIRTUAL MARKETING T
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■ ■ ■ ■ VIRTUAL MARKETING 1
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■ ■ ■ ■ MARKETING PLANNING
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NOTES ■ ■ ■ ■ 1 MARKETING:
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ANSWERS TO REVIEW QUESTIONS 1 MARKE
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■ ■ ■ ■ ANSWERS TO REVIEW Q
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■ ■ ■ ■ REFERENCES Levitt,
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■ ■ ■ ■ REFERENCES Belk, R.
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■ ■ ■ ■ REFERENCES Skinner,
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■ ■ ■ ■ REFERENCES Erikson,
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■ ■ ■ ■ REFERENCES Skinner,
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■ ■ ■ ■ REFERENCES Lavidge,
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■ ■ ■ ■ INDEX anti-consumer
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■ ■ ■ ■ INDEX cashmere knit
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■ ■ ■ ■ INDEX Davidson, H.
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■ ■ ■ ■ INDEX Foote Cone &
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■ ■ ■ ■ INDEX innovation 23
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■ ■ ■ ■ INDEX new product d
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■ ■ ■ ■ INDEX probability s
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■ ■ ■ ■ INDEX Sculley, John
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■ ■ ■ ■ INDEX Trout, Jack 5
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