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When asked to evaluate the contribution to marketing made by an influential scholar, I decided to choose Phillip Kotler. Phillip Kotler was born on the 27th of May 1931 in Chicago. He was a character who strived during his educational times as he contains a Masters degree from the University of Chicago as well as a PhD from MIT both in the field of Economics. He is known as not just a famous Marketer but a renown author who has published over 55 books such as “Principles of Marketing“ “ A Framework for Marketing Management“ and “Marketing 3.0“. The main reason I chose to study Kotler was that over his lifetime he was widely known for his efforts made to the modern marketing era. Of these acknowledgements made I would like to focus in on what I think are his three main contributes to marketing. Firstly, he was given the title as the “Father of modern marketing” which was seen in the eyes of the nearly all who study marketing. This title was given to him due to his outstanding knowledge and simplest ways to describe and focus in on the future fundamentals of marketing. Secondly, He one of the worlds’s leading authors on marketing placing 4th as an influential character behind the likes of Bill Gates and Peter Drucker. Finally, Kotler is said to be the founders behind the widely known 4 P’s, he is "the world's foremost expert on the strategic practice of marketing" (by Management Centre Europe).
Professor Kotler is the expert marketer who discovered the 4 Ps of Marketing. This discovery is one of the most influentia...
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...her one of his books “Marketing Management” is one his widely used graduate level textbook. Many students studying marketing refer to this book, he developed ideas and concepts in marketing including atmospherics (the store's layout, noise level, temperature, lighting), demarketing (reverse marketing in which a company discourages product demand in areas where they cannot realize a desired profit), megamarketing (type of marketing activity required when it is necessary to manage elements of the firm's external environment), and synchromarketing (activity intended to shift the pattern of demand to that it equates more suitably with the ideal pattern of supply). Kotler believes that marketing theory needs to go beyond price theory and incorporate the dynamics of innovation, distribution and promotion systems into analyzing, explaining and predicting economic outcomes.
Kotler and Keller (2014) develop on what product represents in the marketing mix, as the idea centers around its design, quality and packaging. Continuing with the Four P model, price should be considered when marketing a product. The price component asks one to determine the list price, discounts, allowances, and payment period of a product (Kotler & Keller, 2014). Finally, Kotler and Keller (2014) list promotion and place as the final two variables associated with the older Four Ps. Promotion deals with how a product is advertised and what type of sales force will be utilized, while place is associated with the channels and locations for which your product will be featured (Kotler & Keller,
Armstrong, Gary, and Philip Kotler. Marketing: an introduction. 11th ed. Upper Saddle River, NJ: Pearson Prentice Hall, 2013. Print.
“Nothing in a grocery store is where it is by accident. Every item on a shelf has been planned” (Paco Underhill). In the articles, “The Science of Shopping” by Malcolm Gladwell and “How Target Knows What You Want Before You Do” by Charles Duhigg, these authors exemplify effective marketing strategies which were composed by Paco Underhill and Andrew Pole. Underhill is an environmental psychologist; additionally he employs the basic idea that one’s surroundings influences ones behavior and invented structuring man-made environments to make them conducive to retail purposes. Pole was a statistician and revolved his entire life around using data to understand
Marketing is a process of determining a consumer’s needs, devising a product or service to satisfy those needs, and trying to focus customers on the goods and services you are offering. Marketing is extremely important, and a fundamental building block for business growth. A marketing team is given the task of creating customer awareness through a variety of different marketing techniques. If a business does not pay close attention to their consumer demographic and needs, they will eventually fail over time. Two important aspects of marketing include acquiring new customers, and the preservation and growth of relationships with current customers. Marketing has always been viewed as a creative outlet, which encompassed advertising, distribution, and the selling of goods and services. Marketing staff will also try to anticipate what customers will want in the future, often being accomplished with market research. In summation, a good marketing plan should be able to create a favorable proposition or series of benefits that a customer can value through goods or services. The marketing mix is normally described as the strategic positioning of a product or service in the marketplace, using the specification of the four Ps. During the early 1960’s, Professor E. Jerome McCarthy of Harvard Business School stated that a marketing mix contains four elements. The four key points are product, pricing, promotion, and placement. It is recognized that all these aspects must be present to ensure a successful business model within a given industry. We will now take a thorough look at the four marketing mix points.
Kotler, P. & Keller, K.L., (2009), A Framework for Marketing Management. 4th edition, Pearson Prentice Hall: USA
Etzel, Michael J., Stanton, Bruce J., Stanton, William J. (2004). Marketing. (13th ed.). Boston: McGraw-Hill.
It discusses broadening the concept of marketing and new approach to marketing, which emphasises on social and relationship marketing. Then, the government/public sector has been introduced and it proceeds with whether traditional marketing principles can be applied to the marketing of organisations in this sector. It concentrates on issues of relevance-how marketing mix fits to it, what are the benefits and constraints. 1.1 The Marketing Concept and the Marketing Mix: Before proceeding further, it is essential to define what marketing is: Kotler (1991) defines marketing as “a social and managerial process by which individuals and groups obtain what they want and need through creating, offering, and exchanging products of value with others.
Armstrong G. & Kotler P. (2007) Marketing: An Introduction 8E Upper Saddle River, NJ Pearson Prentice Hall Publishers
This strategy is very much about the business which is carried out as usual. In this strategy the marketer is focusing on both the product and the market opportunity.
Eric H. Shaw, 2012, ‘Marketing strategy: From the origin of the concept to the development of a conceptual framework’, Journal of Historical Research in Marketing, Vol. 4, No. 1, pp. 30-55
... P.H. (1988). Marketing Management: Analysis, Planning, Implementation and Control. (6th ed.). Prentice-Hall: Englewood Cliffs.
Petty Ross D. Editor's Introduction: The What and Why of Marketing; American Business Journal, Vol. 36, 1999
Marketing is not a static construct, but it grows and develops over time to become what is known as marketing today. “The marketing revolution divides neatly into four separate eras’, eras’ which parallel rather closely the classic pattern of development in the marketing revolution.” (Keith, 1960). The first of these 4 eras was until the 1930’s and was production and profit orientated, and are considered to be outdated. During this era “the new product decision was product oriented not marketing orientated.” (Keith, 1960). “The second era was a sales oriented era, whereby marketing was seen as a series of activities designed to produce profit through ascertaining, creating, stimulating, and satisfying the needs/wants of a selected segment of the market.” (Eldridge, 1970, p. 4). The 3rd and 4th eras are a representation of what
Kotler, J., & Keller, K. (2012). A framework for marketing management. Essex: Pearson Education Ltd.
VARGO, S. L. & LUSCH, R. F. 2004. Evolving to a New Dominant Logic for Marketing. Journal of Marketing, 68, 1-17.