The document discusses marketing philosophy, which encompasses guiding principles that shape a business's approach to marketing and customer relationships. It outlines six key marketing concepts: Production, Product, Sales, Marketing, Societal Marketing, and Holistic Marketing, each with distinct focuses and beliefs about customer engagement. Additionally, it addresses standards for judging marketing effectiveness based on various philosophies, emphasizing the importance of aligning marketing strategies with business goals and societal values.
The document discusses marketing philosophy, which encompasses guiding principles that shape a business's approach to marketing and customer relationships. It outlines six key marketing concepts: Production, Product, Sales, Marketing, Societal Marketing, and Holistic Marketing, each with distinct focuses and beliefs about customer engagement. Additionally, it addresses standards for judging marketing effectiveness based on various philosophies, emphasizing the importance of aligning marketing strategies with business goals and societal values.
The document discusses marketing philosophy, which encompasses guiding principles that shape a business's approach to marketing and customer relationships. It outlines six key marketing concepts: Production, Product, Sales, Marketing, Societal Marketing, and Holistic Marketing, each with distinct focuses and beliefs about customer engagement. Additionally, it addresses standards for judging marketing effectiveness based on various philosophies, emphasizing the importance of aligning marketing strategies with business goals and societal values.
The document discusses marketing philosophy, which encompasses guiding principles that shape a business's approach to marketing and customer relationships. It outlines six key marketing concepts: Production, Product, Sales, Marketing, Societal Marketing, and Holistic Marketing, each with distinct focuses and beliefs about customer engagement. Additionally, it addresses standards for judging marketing effectiveness based on various philosophies, emphasizing the importance of aligning marketing strategies with business goals and societal values.
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Good evening, everyone!
We are the Group 2: Marketing Philosophy and
Strategies, and we are presenting about Marketing Philosophy & Strategies I am Ariane V. Addatu and I am your first presentor for the night. Lets start with…. What is Marketing Philosophy? Marketing philosophy refers to the guiding principles or beliefs that shape how a business approaches marketing and customer relationships. It outlines the company’s overall perspective on how products or services should be marketed, how customers should be treated, and how the company’s goals connect with market demands. Different marketing philosophies reflect various approaches to attaining business objectives and meeting customer needs. Marketing philosophy refers to the fundamental principles and beliefs that guide how a company approaches its marketing strategy and activities. It encompasses the company's views on customer needs, market dynamics, and how it positions itself in the market. Dr. Philip Kotler defines marketing as “the science and art of exploring, creating and delivering value to satisfy the needs of a target market at a profit. Marketing identifies unfulfilled needs and desires. It defines, measures and quantifies the size of the identified market and the profit potential. 6 Marketing Philosophy/concepts 1. Production Concept emphasizes efficiency and cost- effectiveness(matipid sa gastos) in production. The notion(belief) is that customers will prefer things that are widely available and affordable. Companies that adhere or stick to this concept frequently prioritize improving production processes and distribution efficiency. o Focus: Efficiency in production and distribution. o Belief: Consumers favor products that are widely available and affordable. o Example: Early automotive companies like Ford used production orientation to mass-produce affordable cars, believing that making more cars at lower prices would attract more customers. o Example: Toyota manufactures its cars in a way that eliminates waste and achieves peak efficiency. They do this with a system they call lean manufacturing, also known as the "Just-In-Time" system. Essentially, Toyota wants its cars to be good quality but not too expensive 2. Product Concept: means that the companies with a product-oriented philosophy believe that a high-quality or innovative product will naturally attract customers. It also focuses on enhancing the product’s features and performance, assuming that if the product is superior, it will succeed in the market. o Focus: Product quality, features, and innovation. o Belief: Consumers will prefer products with the highest quality, performance, or features. o Example: Apple’s focus on innovation and high-quality design reflects a product-oriented philosophy, as they prioritize creating cutting-edge products. 3. Sales/Selling Concept: Is the approach which emphasizes aggressive sales techniques and promotional efforts to persuade customers to buy. The belief is that even if a product is not the best fit for a customer, strong sales tactics can convince them to purchase the product o Focus: Aggressive sales techniques to persuade customers. o Belief: Consumers need to be convinced to buy through marketing efforts and sales tactics, even if they aren’t naturally inclined to purchase. o Example: luxury brands. 4. Marketing Concept: In contrast to the sales philosophy, the marketing contrast centers on understanding and meeting customer needs and wants. It involves conducting market research to tailor products and services to the target audience, aiming to create long- term customer satisfaction and loyalty. o Focus: Understanding and meeting customer needs and desires. o Belief: Success comes from delivering what customers truly want, making the customer the center of all business decisions. o Example: Amazon practices market orientation by continuously analyzing customer data and feedback to improve their services and tailor offerings. 5. Societal Marketing Concept: This approach expands on the marketing philosophy by also considering the long-term societal impact of marketing practices. Companies with this philosophy aim to balance satisfying customer needs with contributing positively to society and minimizing environmental impact. o Focus: Balancing customer satisfaction, company profits, and societal well-being. o Belief: Companies should not only meet customer needs but also contribute positively to society and act in an environmentally and socially responsible manner. o Example: TOMS Shoes’ “One for One” model, where they donate a pair of shoes for every pair sold, reflects a societal marketing philosophy. 6. Holistic Marketing Concept: is an approach to marketing that considers the entire business and all its stakeholders, aiming to create a unified and integrated marketing strategy. It recognizes that a company’s marketing efforts must be aligned with its overall goals, values, and operations, ensuring consistency across all departments and touchpoints with customers and other stakeholders. Holistic marketing can be broken down into four main components: Relationship Marketing: Focuses on building long-term relationships with customers, partners, and stakeholders to encourage loyalty and retention. Integrated Marketing: Ensures all marketing activities (advertising, sales promotions, digital marketing, etc.) are aligned and deliver a consistent message to create a seamless customer experience. Internal Marketing: Recognizes that employees are an essential part of the brand and must be motivated, trained, and aligned with the company’s values and marketing strategy. Socially Responsible Marketing: Takes into account the ethical, environmental, and societal impacts of marketing activities, ensuring that the company acts in a socially responsible manner.
In essence, the holistic marketing concept seeks to create value not
just for the company, but also for customers, employees, partners, and society as a whole, leading to sustainable success.
o Focus: core values of the business by increasing the ability of
brand performance. o Belief: the business and all its parts should focus towards one single goal which is a great customer experience. o Example: Coca-Cola When the no. 1 beverage brand chose ‘happiness’ as their core branding message, they were not simply trying to find new consumers. Rather, they were creating a franchise which consumers would associate with happiness. Instead of simply promoting their brand, they promoted the concept of happiness and this was a successful strategy for the brand in the long run. It allowed for the brand to reassure its existing customers of brand quality and also share a core value that would draw in new customers. Conclusion: Marketing philosophy defines the approach and mindset a company adopts when promoting its products or services. It affects how the business engages with customers, develops strategies, and positions itself in the marketplace. Understanding different marketing philosophies helps businesses align their marketing efforts with both their goals and the values of their target audience. Now lets talk about Standard in Judging…. What is standard in judging from marketing philosophy In marketing philosophy, the standard for judging revolves around the criteria a business uses to evaluate the effectiveness of its marketing approach. These standards reflect the underlying philosophy and help businesses determine whether their strategies are successful in meeting both internal and external goals. Different marketing philosophies apply different standards for judgment, depending on their focus. involves evaluating how well marketing activities meet predetermined objectives and contribute to overall business goals. Like the figures shows, by using these standards, businesses can gauge the effectiveness of their marketing strategies, make data-driven decisions, and optimize their efforts to achieve better results. Marketing Effectiveness Is when marketing activities and strategies achieve their intended goals and deliver a positive impact on a business. It also involves assessing how well marketing efforts contribute to key objectives such as increasing sales, enhancing brand awareness and improving customer engagements. To effectively gauge marketing effectiveness, businesses often use a combination metrics and analytics tools. Regularly measuring and analyzing marketing performance allows companies to refine their strategies, optimize resource allocation, and ultimately achieve better results.
Here are some standards for judging marketing effectiveness across
various marketing philosophies: 1. Production Orientation: Standard: Efficiency and Cost Control o How well is the company producing and distributing its products at the lowest cost? o Is the company maximizing production capacity and reducing waste? Example: A company might judge its success by how many units it can produce within a certain time frame and whether it can lower costs to increase profit margins. 2. Product Orientation: Standard: Product Quality and Innovation o Is the company creating the highest-quality product in the market? o How innovative and feature-rich is the product compared to competitors? Example: Apple may judge its success based on product design, innovation, and the premium perception customers have of their products. 3. Sales Orientation: Standard: Sales Volume and Persuasion o How effective are the company’s sales techniques in converting leads into customers? o Is the company meeting or exceeding its sales targets through aggressive promotion and selling? Example: A telemarketing firm may measure its success by how many customers it can convince to purchase a product through direct sales campaigns. 4. Market Orientation: Standard: Customer Satisfaction and Market Demand o How well is the company meeting customer needs and expectations? o Are customers satisfied, and is the company gaining loyalty and repeat business? o Is the company responding to market trends and consumer preferences? Example: Amazon's success might be judged by customer satisfaction ratings, the speed of delivery, and customer retention rates. 5. Societal Marketing Orientation: Standard: Ethical Impact and Social Responsibility o Is the company balancing profitability with positive societal impact? o Are the company’s marketing practices contributing to the well- being of society and the environment? o Is the company transparent, responsible, and ethical in its marketing? Example: A company like Patagonia may evaluate its marketing success by how sustainable its supply chain is, or how well its products align with environmental values. Universal Standards for Judging Marketing Success: Regardless of the specific marketing philosophy, certain universal standards apply across the board: 1. Profitability: Is the company generating sustainable profits through its marketing efforts? 2. Market Share: Has the company grown its market presence relative to competitors? 3. Brand Loyalty: Are customers becoming more loyal, resulting in repeat purchases? 4. Customer Engagement: Is the company fostering a strong relationship with its customers, leading to high engagement rates? 5. Competitive Positioning: How well is the company positioned relative to competitors in terms of value, perception, and innovation? Conclusion: The standard in judging from a marketing philosophy is largely determined by the focus of that philosophy, whether it’s production efficiency, product excellence, sales volume, customer satisfaction, or societal responsibility. A company’s marketing philosophy shapes what it values and, therefore, what it uses as a benchmark for success. Each philosophy has distinct criteria that guide how businesses assess their marketing effectiveness and make strategic decisions.
From Product to People: The 8Ps of Marketing: A Comprehensive Guide to Modern Marketing. Excellent Marketing Strategies for Success in a Digital World.
From Product to People: The 8Ps of Marketing: A Comprehensive Guide to Modern Marketing. Excellent Marketing Strategies for Success in a Digital World.