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Chapter 4 through 7 principles of marketing
Chapter 4 through 7 principles of marketing
Reflection on systems thinking
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Recommended: Chapter 4 through 7 principles of marketing
The philosophy of marketing concept and marketing management in service organizations are merely outward manifestations of a basic and important development in marketing. In the past decade, marketing executives in service organizations have adopted a new perspective. Embracing a systems perspective, they tend to see marketing operations as complete systems. Marketing management in service organizations is responsible for designing and directing a total system of marketing action to achieve predetermined objectives. The systems approach is essential for effective decision making, for the utilization of models in marketing, and for the application of computer technology. Systems analysis is a managerial breakthrough, somewhat akin to breakthroughs in various sciences, and has given rise to powerful concepts and tools of analysis. The systems approach is based on the work of Von Bertalanffy, who is credited with coining the phrase "general systems theory." He conceived of a set of objects, their interrelationships, and their attributes as systems. The objects were merely components of a system. Therefore, any groups of marketing activities and elements that can be delineated physically or conceptually constitute a system. Marketing systems in service organizations are collections of entities that form coherent groups. The fact that entities or activities are capable of being understood as a coherent group, rather than as a collection of parts, makes them a system. This conceptual insight has led to the development of new disciplines such as industrial dynamics and systems engineering (1). In marketing, the systems approach turns on the central theme that marketing reality occurs in systems. A service organization, part of it, or...
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...ial Animal. 3d ed. San Francisco: W. H. Freeman & Co., 1980. (2) Barnard C. The Functions of the Executive. Cambridge: Harvard University Press, 1938. (3) Bass B. M., and P. C. Burger. Assessment of Managers: An International Comparison. New York: Free Press, 1979. (4) Bennis W. J., Van Maanen, and E. H. Schein, eds. Essays in Interpersonal Relations. Homewood, Ill.: Dorsey Press, 1979. (5) Brazerman M. H., and R. J. Lewicki, eds. Negotiation in Organizations. Beverly Hills: Sage Publications, 1983. (6) Crissy W. J. E., W. H. Cunningham, and I. C. M. Cunningham. Selling: The Personal Force in Marketing. New York: John Wiley & Sons, 1977. (7) Cyert R. M., and J. G. March. A Behavioral Theory of the Firm. Englewood Cliffs, N.J.: Prentice-Hall, 1963. (8) Darmon Rene Y. Effective Human Resource Management in the Sales Force. Westport, Conn.: Quorum Books, 1992.
Marketing at the Vanguard Group. In light of an evolving market, faced with new competitors, and after a careful analysis of their current customers, the Vanguard Group (hereinafter referred to as “Vanguard”) realizes it must rethink its entire marketing strategy. However, in order to protect and leverage their competitive advantage, which is their low management fees, and to optimize the loyalty that their customers continuously demonstrate toward their organization, they must now target the most profitable segment for them, and develop the best way to serve and delight these customers. SITUATION ANALYSIS Highlighted SWOT Strengths Low fees strategy - a good idea.
Sales Force (SF) is an important aspect to any company’s success. In the past, we have known to associate SF with aggressive selling, as that was their main approach in obtaining revenue for many companies. Technological advances have changed the way companies utilize its SF. However, SF remains to be a direct link between customers and companies as they are the face associated with the brand (Kotler& Keller, 2012, p. 554). Companies must set attainable objectives and strategies that are specific to its SF. The cost per sales person at Allround is $60,000, which includes training. Having a well-trained SF is key in making the brand a success. If the SF is not well trained they may not leave a good impression, which can hinder
Robbins, S.P., & Coulter, M. (2009). Management (10th ed.). Upper Saddle River, NJ: Pearson Prentice Hall.
Robbins, S. P., & Coulter. M. (2014). Management (12th ed.). Retrieved from: Colorado Technical University eBook Collection database.
Hersey, P., Blanchard, K., & Johnson, D. (1996). Management of Organizational Behavior: Utilizing Human Resources (7th ed.). Upper Saddle River, NJ: Prentice Hall.
Marketing is very important to the success of a business. Before people can buy a product or service they have to know about it. However, marketing entails more than just letting people know what your company has to offer. Throughout this paper, I will define marketing, offering my personal definition as well as more formal definitions from other sources. Furthermore, I will explain to the reader the importance of marketing to organizational success giving real world examples in support of this explanation. The field of marketing can include many things. I believe, however, the most important thing which it should include is communication with customers as to the value and benefits of using that particular company's products and services. It should help to establish the business's niche in the industry and distinguish it from other such businesses.
Robbins, S. P., & Coulter, M. (2009). Management (10th ed.). Upper Saddle River, New Jersey: Pearson Prentice Hall. (PepsiCo, 2011)
The systems theory can be a convenient way of thoughtful about the job of supervision. In real life situation it provides a framework for visualizing internal and external environmental factors as well as an incorporatedentire. It permitsacknowledgment of the proper place and function of subsystems. The systems inside which businessmen must run are necessarily complex. However, management via systems concepts fosters a way of thinking thathelps to dissolve some of the complexity and, in another side, helps the manager recognize the nature of the complex problems and thereby operate within the perceived environment. Especially it is important to recognize the integrated nature of specific systems, including the fact that each system has both inputs and outputs and can be viewed as a self-reliant unit. It is also important to distinguish that business systems are a part of larger procedures—possibly industry-wide, including severalcompanies and industries, even society all together. Further, business systems are in a constant state of change—they are created, operated, revised, and often eliminated.
Too often, a marketing function is misunderstood, because many people do not understand what is meant by ‘Marketing’.
Marketing Strategy as the Key to Business Success Marketing strategy helps a company to meet it's objectives by finding an ideal medium between the company's available resources and opportunities that present themselves in the market. A strategy would involve the creation of plans that would enable a company to achieve its overall objectives. The idea of a strategy portrays an image of a well thought out plan as it has had careful evaluation of the market and the company to come up with a suitable strategy to meet the goals and targets for the company's medium to long term future. The purpose of a strategy is to allow management to be aware of what direction the company is heading in and for them to convey this to the workforce so that the whole company is pulling in the same direction so the objectives of the company can be met relatively easily compared to if there was no sense of cohesion between one department and the next. A perfect strategy will take into account company objectives, customer requirements, the activities of competitors and a well looked into prediction of future market patterns that will affect the company.
People make-up the market. It is a known fact that people are different. As consumers, their needs, preferences, motivations, and behaviour will differ from one another. This makes the job of marketers challenging. How should marketers adapt their product, pricing, promotion and distribution to suit changing consumer needs, preference, motivation and behaviour at the domestic and international level ?
The human relations perspective developed in the mid twentieth century and was an extension of the behavioral viewpoint. Prior to the behavioral, almost all management was looked upon through the classical viewpoint. This viewpoint specifically focused on how to create higher efficiency though technical processes with little regard to the social aspect of work. It wasn’t until after the Hawthorne experiments that people began to realize that the happiness of the worker has a major effect on overall productivity. The experiment began as a test on the effects of different working environments on productivity. However as they proceeded researchers found that no matter what they altered productivity increased. Therefore they concluded that productivity rises when employees are given attention and a say in the decisions that affect their work. ( Kinicki, A., & Williams, B. K. (2008). Chapter 2. In Management: A practical Introduction (pp. 46-49) NYC: McGraw Hill.) Previous perspectives overlooked the relationship between the employee and the work group he/she was associated with. The Hawthorne experiments led to the establishment of the behavioral viewpoint. This viewpoint has a more psychological approach to management with an emphasis on understanding h...
Robbins, S.P. & Coulter, M. (2009). Management. (10th ed.). Upper Saddle River, NJ: Pearson Prentice Hall.
With the current revolution in the corporate world, many organizations find the need to keep up with the set trends in the corporate scene. This is essential for them to maintain relevance as well as achieve set targets and strategic objectives. One of the aspects business management is sales personnel management. This is an important business aspect that can lead to efficiency, as well as effectiveness in business, if executed accordingly. This study will seek to analyze the various tools and techniques used in sales personnel management.
Service marketing is a sub field of marketing, which can be split into the two main areas of goods marketing (which includes the marketing of fast moving consumer goods (FMCG) and durables) and services marketing. Service marketing typically refers to both business to consumer (B2C) and business to business (B2B) services, and includes marketing of services like telecommunications services, financial services, all types of hospitality services, car rental services, air travel, health care services and professional services. The range of approaches and expressions of a marketing idea developed with the hope that it be effective in conveying the ideas to the diverse population of people who receive it.