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. It pinpoints which segments the company is capable of serving best and it designs and promotes the appropriate products and services.”
He further adds structure to the concept describing the key processes as being “(1) opportunity identification, (2) new product development, (3) customer attraction, (4) customer retention and loyalty building, and (5) order fulfilment. A company that handles all of these processes well will normally enjoy success. But when a company fails at any one of these processes, it will not survive.”
And Exchange has been proposed by a number of marketing scholars as a fundamental framework for viewing marketing.
Clearly there is a sequence of steps any organisation must take to implement its strategies successfully. Those steps are a combination of “textbook” learnings, people skills, experience and company policies and culture.
This site gathers like information and compiles the readings under 6 step headings of
1. Concept. This is a planning & preparation phase and includes the introductory textbook thinking.
2. Proof. The first practical steps are in attempting to establish the proof of concept. This requires sharing, testing and research.
3. Teamwork. After the concept is confirmed and finalized, then comes time to brief all parties about the strategy, the plan and their part in execution. The first internal communication.
4. Communication is the core of the marketing team’s contribution to executing the plan.
5. Supply Chain. Another communication phase (both internal and external ) is coordinating the raws from source, through production to distribution and final sale to the user.
6. Financial. The final step in evaluating the success usually comes from a financial measure. And that is often the first step in the next cycle or the product or services’ life.
This site is a collection of writings, thoughts, blogs and posts that elaborate on and add value to each step. Each is a short elaboration that, when read as a collection, adds to the understanding of Marketing as a science and profession. If there is any subject you would like to see added or would like any post you have written added, please feel free to email me at email@example.com.