Summary Exam Material Marketing Year 2

Marketing Fundamentals (Verhage)
Excluded chapters 1.5, 1.6, 2.2,2.6 , 3.4, 4.6, 5, 7.3, 7.5-7.7, 8.3-8.6, 13.4, 13.5, 14, 15


CHAPTER 1 | WHAT IS MARKETING
Definition of Marketing
 all activities that create value and lead to increased sales, a desired response, establish a good
reputation or ongoing relationships with (potential) customers
 Marketing Mix: product, price, promotion, distribution & personnel

Differences between selling and marketing
 Selling = trying to get rid of what you have on the shelves
 Marketing = making sure that what you have on the shelves is what the customer wants
 shift from “selling & telling” to relationship building

Levels of marketing
Macro marketing
 system a society has developed to arrange the exchange of goods

Meso marketing
 level of the supply chain
 collaborating organizations that each add value to product on way to consumer
 branch of industry (organizations with similar production techniques & end products)

Micro marketing
 marketing of an individual firm

Marketing mindset
Bartering
 the time when goods were exchanged for goods

History of marketing
Production Product Selling Marketing Relationship
orientation orientation orientation orientation marketing
1900 1950 2000
demand: cheap, demand: best supply > demand competition value-creation
available products + extras huge sales effort  tailoring to based on
products demand customer insight

Trends
 digitalization: 100% mobile commerce, multi-device strategy & responsive design
 personalization: info overload  1-to-1 targeting + extra services
 innovation: offering before customers start to wish for it
 co-creation: giving responsibility & creative power to customers, involve in dialogue
 internal marketing: organizational culture in line with marketing
 privacy issues: data collection & abuse
 multichannel use