〽️H1: Marketing Principles and practice
, Samenvatting marketing
Chapter 1: Marketing Principles and Practice
Chapter 1: Objectives
1. Define the marketing concept
2. Understand the concepts of exchange in marketing and the marketing mix
3. Explain how marketing has developed over the twentieth century and into the twenty-first
century.
4. Describe the three major contexts of marketing application, i.e. consumer goods,
business-to business, and services marketing
5. Understand the positive contribution marketing makes to society
1.1. What is Marketing?
What is the primary goal of marketing?
● 1. Increase sales through aggressive promotion
● 2. Understand and meet customer needs to create value
● 3. Create advertisements for products
● 4. Ensure that products are cheaper than those of the competitions
Marketing = a social and managerial process by which individuals and groups obtain what they
need and want through creating and exchanging products and value with others
In business context: To build and maintain profitable relationships with stakeholders
What does marketing apply to?
1. Physical products
a. Marketing applies to tangible goods such as electronics, clothing, furniture, and food.
The goal is to create awareness, highlight features, and persuade customers to
purchase these items.
2. Services
a. Services are intangible offerings like consulting, education, healthcare, or
transportation. Marketing focuses on demonstrating value, reliability, and benefits
since customers cannot physically inspect the service before buying.
3. Retail
a. Retail marketing promotes stores and shopping experiences, both physical and
online. It includes strategies like discounts, loyalty programs, and visual
merchandising to attract and retain customers
, 4. Experiences
a. Experiences involve activities such as travel, adventure tours, or entertainment
packages. Marketing emphasizes emotions, uniqueness, and memorable moments
to appeal to customers
5. Events
a. Events include concerts, conferences, festivals, and exhibitions. Marketing aims to
generate excitement, increase attendance, and create engagement before, during,
and after the event
6. Film, music, and theater
a. Marketing in this area promotes creative works like movies, albums, and stage
performances. It uses trailers, social media campaigns, and influencer partnerships
to build anticipation and drive ticket or streaming sales.
7. Places
a. Place marketing promotes destinations such as cities, countries, or tourist spots. It
focuses on cultural attractions, lifestyle, and economic opportunities to attract
visitors, residents, or investors.
8. Ideas
a. Marketing ideas involves spreading concepts or philosophies, such as sustainability
or innovation. The goal is to influence public opinion and encourage adoption of
these ideas.
9. Charity and non-profit
a. Marketing for charities and non-profits aims to raise awareness, encourage
donations, and recruit volunteers. It often appeals to emotions and social
responsibility.
10.People
a. Personal marketing promotes individuals, such as celebrities, influencers, or
professionals. It focuses on building a personal brand, reputation, and visibility
through media and networking.
Marketing applies… … anywhere “buyers” have a choice
1.2. What is the difference between customers and consumers?
Customer =A customer is the person or organization that purchases a product or service. They are
involved in the buying process and may or may not use the product themselves.
Example: A parent buying toys for their child is the customer.
Consumer =A consumer is the person who uses or consumes the product or service. They
experience its benefits directly, regardless of who paid for it.
Example: The child playing with the toy is the consumer.
, 1.3. Market Orientation
Market orientation = the organization-wide generation of market intelligence pertaining to current
and future customer needs, dissemination of the intelligence across the departments, and
organization-wide responsiveness to it”
● Organization-wide belief in delivering customer value
● Create products to meet existing and latent needs
1. Long-term Profit Focus = This is the core goal of
the model. All marketing activities aim to achieve
sustainable profitability over time, not just short-term
gains.
2. Customer Orientation = This means understanding
and prioritizing customer needs and preferences.
● Businesses focus on delivering value to customers, building relationships, and
ensuring satisfaction.
● The idea is that happy customers lead to repeat business and long-term success.
3. Competitor Orientation
● This involves monitoring and analyzing competitors’ strategies, strengths, and
weaknesses.
● Companies use this information to position themselves effectively in the market
and maintain a competitive advantage.
4. Interfunctional Coordination
● This refers to collaboration across all departments (marketing, sales, production,
finance, etc.).
, Samenvatting marketing
Chapter 1: Marketing Principles and Practice
Chapter 1: Objectives
1. Define the marketing concept
2. Understand the concepts of exchange in marketing and the marketing mix
3. Explain how marketing has developed over the twentieth century and into the twenty-first
century.
4. Describe the three major contexts of marketing application, i.e. consumer goods,
business-to business, and services marketing
5. Understand the positive contribution marketing makes to society
1.1. What is Marketing?
What is the primary goal of marketing?
● 1. Increase sales through aggressive promotion
● 2. Understand and meet customer needs to create value
● 3. Create advertisements for products
● 4. Ensure that products are cheaper than those of the competitions
Marketing = a social and managerial process by which individuals and groups obtain what they
need and want through creating and exchanging products and value with others
In business context: To build and maintain profitable relationships with stakeholders
What does marketing apply to?
1. Physical products
a. Marketing applies to tangible goods such as electronics, clothing, furniture, and food.
The goal is to create awareness, highlight features, and persuade customers to
purchase these items.
2. Services
a. Services are intangible offerings like consulting, education, healthcare, or
transportation. Marketing focuses on demonstrating value, reliability, and benefits
since customers cannot physically inspect the service before buying.
3. Retail
a. Retail marketing promotes stores and shopping experiences, both physical and
online. It includes strategies like discounts, loyalty programs, and visual
merchandising to attract and retain customers
, 4. Experiences
a. Experiences involve activities such as travel, adventure tours, or entertainment
packages. Marketing emphasizes emotions, uniqueness, and memorable moments
to appeal to customers
5. Events
a. Events include concerts, conferences, festivals, and exhibitions. Marketing aims to
generate excitement, increase attendance, and create engagement before, during,
and after the event
6. Film, music, and theater
a. Marketing in this area promotes creative works like movies, albums, and stage
performances. It uses trailers, social media campaigns, and influencer partnerships
to build anticipation and drive ticket or streaming sales.
7. Places
a. Place marketing promotes destinations such as cities, countries, or tourist spots. It
focuses on cultural attractions, lifestyle, and economic opportunities to attract
visitors, residents, or investors.
8. Ideas
a. Marketing ideas involves spreading concepts or philosophies, such as sustainability
or innovation. The goal is to influence public opinion and encourage adoption of
these ideas.
9. Charity and non-profit
a. Marketing for charities and non-profits aims to raise awareness, encourage
donations, and recruit volunteers. It often appeals to emotions and social
responsibility.
10.People
a. Personal marketing promotes individuals, such as celebrities, influencers, or
professionals. It focuses on building a personal brand, reputation, and visibility
through media and networking.
Marketing applies… … anywhere “buyers” have a choice
1.2. What is the difference between customers and consumers?
Customer =A customer is the person or organization that purchases a product or service. They are
involved in the buying process and may or may not use the product themselves.
Example: A parent buying toys for their child is the customer.
Consumer =A consumer is the person who uses or consumes the product or service. They
experience its benefits directly, regardless of who paid for it.
Example: The child playing with the toy is the consumer.
, 1.3. Market Orientation
Market orientation = the organization-wide generation of market intelligence pertaining to current
and future customer needs, dissemination of the intelligence across the departments, and
organization-wide responsiveness to it”
● Organization-wide belief in delivering customer value
● Create products to meet existing and latent needs
1. Long-term Profit Focus = This is the core goal of
the model. All marketing activities aim to achieve
sustainable profitability over time, not just short-term
gains.
2. Customer Orientation = This means understanding
and prioritizing customer needs and preferences.
● Businesses focus on delivering value to customers, building relationships, and
ensuring satisfaction.
● The idea is that happy customers lead to repeat business and long-term success.
3. Competitor Orientation
● This involves monitoring and analyzing competitors’ strategies, strengths, and
weaknesses.
● Companies use this information to position themselves effectively in the market
and maintain a competitive advantage.
4. Interfunctional Coordination
● This refers to collaboration across all departments (marketing, sales, production,
finance, etc.).
