Q.
a) Define 'marketing management'. (5marks)
b) explain the five (5) alternative concepts which organizations adopt to carry out their marketing strategies. (20 marks)
(25 marks, 2011 Q1)
A.
a) The American Marketing Association offers this managerial definition: Marketing (management) is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational goals.
b)
Five orientations (philosophical concepts to the marketplace have guided and continue to guide organizational activities:
1. The Production Concept
2. The Product Concept
3. The Selling Concept
4. The Marketing Concept
5. The Societal Marketing Concept
(More readings on five (5) concepts please click here.)
Company Orientations to the Marketplace
What philosophy should guide a company marketing and selling efforts? What relative weights should be given to the interests of the organization, the customers, and society? These interest often clash, however, an organization’s marketing and selling activities should be carried out under a well-thought-out philosophy of efficiency, effectiveness, and socially responsibility.
Ref:
Kotler, Philip. 2000. Marketing Management Millenium Edition, Tenth Edition, Prentice-Hall, Inc. Page 4.
Extracted from http://jan.ucc.nau.edu/~rgm/ha400/class/professional/concept/Article-Mkt-Con.html