"Next big thing" redirects here. Product marketing deals with the first of the "4P"'s of Marketing, which are Product, Pricing, Place, and Promotion. Pricing is one of the Four p's of the Marketing mix. The other three aspects are product promotion and place. Promotion involves disseminating information about a product, Product line, Brand, or company Distribution (or place) is one of the four elements of Marketing mix. A service is the non-material equivalent of a good. A service provision is an economic activity that does not result in Ownership, and this is what differentiates Brand management is the application of Marketing techniques to a specific product, Product line, or Brand. Marketing effectiveness is the quality of how marketers go to market with the goal of optimizing their spending to achieve good results for both the short-term and long-term Market research is the process of systematically gathering recording and analyzing data and information about Customers, Competitors and the Market A marketing strategy is a process that can allow an organization to concentrate its limited resources on the greatest opportunities to increase sales and achieve a sustainable competitive Marketing management is a Business discipline focused on the practical application of marketing techniques and the Management of a firm's marketing resources Market dominance is a measure of the strength of a Brand, product, service, or firm, relative to competitive offerings Advertising is a form of Communication that typically attempts to persuade potential Customers to Purchase or to consume more of a particular Brand A brand is a collection of Images and ideas representing an economic producer more specifically it refers to the descriptive verbal attributes and concrete symbols such as a Direct marketing is a sub-discipline and type of Marketing. There are two main definitional characteristics which distinguish it from other types of marketing Product placement, or embedded marketing, is a type of Advertising, in which promotional Advertisements placed by marketers using Public relations (PR is the practice of managing the flow of Information between an Organization and its Publics Public relations - often referred Publicity is the deliberate attempt to manage the public's perception of a subject Sales promotion is one of the four aspects of Promotional mix. An underwriting spot is an announcement made on Public broadcasting outlets especially in the United States in exchange for funding Printing is a process for reproducing text and image typically with ink on Paper using a printing press To publish is to make content Publicly known. The term is most frequently applied to the distribution of text or images on paper or to the placing of content For the band see Broadcast (band Broadcasting is the distribution of audio and/or Video signals which transmit Out-of-home advertising (also referred to as OOH) is essentially any type of Advertising that reaches the consumer while he or she is outside the home (or office Internet marketing, also referred to as web marketing, online marketing, Internet advertising, or eMarketing, is the Marketing A point-of-sale display (POS is a specialized form of Sales promotion that is found near on or next to a checkout counter (the "point of sale" Promotional items or promotional products refers to articles of merchandise that are used in marketing and communication programs Digital Marketing is the practice of promoting products and services using digital distribution channels to reach consumers in a timely relevant personal and cost-effective manner In-game advertising ( IGA) refers to the use of Computer and video games as a medium in which to deliver Advertising. Word of mouth, is a reference to the passing of Information by verbal means especially recommendations but also general information in an informal person-to-person
For the album by Vince Gill, see Next Big Thing
. Next Big Thing is a studio album from American Country music artist Vince Gill.
For the magazine, see Marketing (magazine)
. Marketing is a Canadian Business Magazine about Marketing, Advertising and media.
Marketing is an ongoing process of planning and executing the marketing mix (Product, Price, Place, Promotion) for products, services or ideas to create exchange between individuals and organizations.
Marketing tends to be seen as a creative industry, which includes advertising, distribution and selling. Advertising is a form of Communication that typically attempts to persuade potential Customers to Purchase or to consume more of a particular Brand It is also concerned with anticipating the customers' future needs and wants, which are often discovered through market research.
Essentially, marketing is the process of creating or directing an organization to be successful in selling a product or service that people not only desire, but are willing to buy.
Therefore good marketing must be able to create a "proposition" or set of benefits for the end customer that delivers value through products or services.
Its specialist areas include:
A market-focused, or customer-focused, organization first determines what its potential customers desire, and then builds the product or service. Advertising is a form of Communication that typically attempts to persuade potential Customers to Purchase or to consume more of a particular Brand Database marketing is a form of Direct marketing using Databases of Customers or potential customers to generate personalized communications in order to Direct marketing is a sub-discipline and type of Marketing. There are two main definitional characteristics which distinguish it from other types of marketing The Oxford University Press defines global marketing as “ marketing on a worldwide scale reconciling or taking commercial advantage of global operational differences similarities and International marketing refers to the Marketing a company carries out in markets outside its core constituency Internet marketing, also referred to as web marketing, online marketing, Internet advertising, or eMarketing, is the Marketing Industrial marketing is the Marketing of goods and services from one business to another Market research is the process of systematically gathering recording and analyzing data and information about Customers, Competitors and the Market Public relations (PR is the practice of managing the flow of Information between an Organization and its Publics Public relations - often referred Search engine marketing, or SEM, is a form of Internet marketing that seeks to promote Websites by increasing their visibility in Search engine A marketing strategy is a process that can allow an organization to concentrate its limited resources on the greatest opportunities to increase sales and achieve a sustainable competitive A marketing plan is a written document that details the necessary actions to achieve one or more marketing objectives Strategic management is the art science and craft of formulating implementing and evaluating cross-functional decisions that will enable an organization to achieve its objectives Experiential marketing attempts to connect Consumers with Brands in personally relevant and memorable ways In Marketing, a product is anything that can be offered to a Market that might satisfy a want or need Marketing theory and practice is justified in the belief that customers use a product or service because they have a need, or because it provides a perceived benefit. A customer is someone who makes use of the paid products of an individual or Organization.
Two major factors of marketing are the recruitment of new customers (acquisition) and the retention and expansion of relationships with existing customers (base management). Once a marketer has converted the prospective buyer, base management marketing takes over. Marketeer is most often a contemporary and informal euphemism for Marketing professional. The process for base management shifts the marketer to building a relationship, nurturing the links, enhancing the benefits that sold the buyer in the first place, and improving the product/service continuously to protect the business from competitive encroachments.
For a marketing plan to be successful, the mix of the four "Ps" must reflect the wants and desires of the consumers or Shoppers in the target market. A marketing plan is a written document that details the necessary actions to achieve one or more marketing objectives The marketing mix is generally accepted as the use and specification of 'the four Ps' describing the strategic position of a product in the Marketplace. Consumers refers to individuals or households that use goods and services generated within the economy. Market specialization is a business term meaning the Market segment to which a particular good or service is marketed Trying to convince a market segment to buy something they don't want is extremely expensive and seldom successful. A market segment is a subgroup of people or organizations sharing one or more characteristics that cause them to have similar product needs Marketers depend on insights from marketing research, both formal and informal, to determine what consumers want and what they are willing to pay for. Marketing research or market research is a form of business research and is generally divided into two categories consumer market research and business-to-business (B2B market research which Marketers hope that this process will give them a sustainable competitive advantage. Competitive advantage is a position a firm occupies against its competitors Marketing management is the practical application of this process. Marketing management is a Business discipline focused on the practical application of marketing techniques and the Management of a firm's marketing resources The offer is also an important addition to the 4P's theory.
Within most organizations, the activities encompassed by the marketing function are led by a Vice President or Director of Marketing. A growing number of organizations, especially large US companies, have a Chief Marketing Officer position, reporting to the Chief Executive Officer. Chief marketing officer ( CMO) is a Corporate title referring to an executive responsible for various Marketing in an Organization A chief executive officer ( CEO) or chief executive is typically the highest-ranking corporate officer ( executive) or administrator
The American Marketing Association (AMA) states, "Marketing is an organizational function and a set of processes for creating, communicating and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders. The American Marketing Association is a professional association for marketers. ". 
Marketing methods are informed by many of the social sciences, particularly psychology, sociology, and economics. The social sciences comprise academic disciplines concerned with the study of the social life of human groups and individuals including Anthropology, Communication studies Psychology (from Greek grc ψῡχή psȳkhē, "breath life soul" and grc -λογία -logia) is an Academic and Sociology (from Latin: socius "companion" and the suffix -ology "the study of" from Greek λόγος lógos "knowledge" Economics is the social science that studies the production distribution, and consumption of goods and services. Anthropology is also a small, but growing influence. Anthropology (/ˌænθɹəˈpɒlədʒi/ from Greek grc ἄνθρωπος anthrōpos, "human" -λογία -logia) is the study of Market research underpins these activities. Through advertising, it is also related to many of the creative arts. Advertising is a form of Communication that typically attempts to persuade potential Customers to Purchase or to consume more of a particular Brand Creativity is a mental process involving the generation of new Ideas or Concepts, or new associations of the creative mind between existing ideas or concepts Marketing is a wide and heavily interconnected subject with extensive publications. It is also an area of activity infamous for re-inventing itself and its vocabulary according to the times and the culture.
Concept of Marketing
Marketing is an instructive business domain that serves to inform and educate target markets about the value and competitive advantage of a company and its products. “Value (marketing)” is worth derived by the customer from owning and using the product. Value of a product within the context of Marketing means the relationship between the Consumer 's expectations of product Quality to “Competitive Advantage” is a depiction that the company or its products are each doing something better than their competition in a way that could benefit the customer. Competitive advantage is a position a firm occupies against its competitors
Marketing is focused on the task of conveying pertinent company and product related information to specific customers, and there are a multitude of decisions (strategies) to be made within the marketing domain regarding what information to deliver, how much information to deliver, to whom to deliver, how to deliver, when to deliver, and where to deliver. Once the decisions are made, there are numerous ways (tactics) and processes that could be employed in support of the selected strategies.
The goal of marketing is to build and maintain a preference for a company and its products within the target markets. The goal of any business is to build mutually profitable and sustainable relationships with its customers. While all business domains are responsible for accomplishing this goal, the marketing domain bears a significant share of the responsibility.
Within the larger scope of its definition, marketing is performed through the actions of three coordinated disciplines named: “Product Marketing”, “Corporate Marketing”, and “Marketing Communications”. Product marketing deals with the first of the "4P"'s of Marketing, which are Product, Pricing, Place, and Promotion. Marketing communications (or marcom) are Messages and related media used to communicate with a Market. 
Two levels of marketing
Strategic marketing attempts to determine how an organization competes against its competitors in a market place. In particular, it aims at generating a competitive advantage relative to its competitors.
Operational marketing executes marketing functions to attract and keep customers and to maximize the value derived for them, as well as to satisfy the customer with prompt services and meeting the customer expectations. Operational Marketing includes the determination of the porter's five forces model
In the early 1960s, Professor Neil Borden at Harvard Business School identified a number of company performance actions that can influence the consumer decision to purchase goods or services. The marketing mix is generally accepted as the use and specification of 'the four Ps' describing the strategic position of a product in the Marketplace. Borden suggested that all those actions of the company represented a “Marketing Mix”. Professor E. Jerome McCarthy, also at the Harvard Business School in the early 1960s, suggested that the Marketing Mix contained 4 elements: product, price, place and promotion.
In popular usage, "marketing" is the promotion of products, especially advertising and branding. Advertising is a form of Communication that typically attempts to persuade potential Customers to Purchase or to consume more of a particular Brand A brand is a collection of Images and ideas representing an economic producer more specifically it refers to the descriptive verbal attributes and concrete symbols such as a However, in professional usage the term has a wider meaning which recognizes that marketing is customer-centered. Products are often developed to meet the desires of groups of customers or even, in some cases, for specific customers. E. Jerome McCarthy divided marketing into four general sets of activities. E Jerome McCarthy is an American Marketing professor at Michigan State University. His typology has become so universally recognized that his four activity sets, the Four Ps, have passed into the language.
The four Ps are:
- Product: The product aspects of marketing deal with the specifications of the actual goods or services, and how it relates to the end-user's needs and wants. In Marketing, a product is anything that can be offered to a Market that might satisfy a want or need Economics and Commerce define an end-user as the person who uses a product. The scope of a product generally includes supporting elements such as warranties, guarantees, and support.
- Pricing: This refers to the process of setting a price for a product, including discounts. Pricing is one of the Four p's of the Marketing mix. The other three aspects are product promotion and place. Price in Economics and Business is the result of an exchange and from that trade we assign a numerical Monetary value to a good, The price need not be monetary - it can simply be what is exchanged for the product or services, e. g. time, energy, psychology or attention.
- Promotion: This includes advertising, sales promotion, publicity, and personal selling, branding and refers to the various methods of promoting the product, brand, or company. Promotion involves disseminating information about a product, Product line, Brand, or company Advertising is a form of Communication that typically attempts to persuade potential Customers to Purchase or to consume more of a particular Brand Sales promotion is one of the four aspects of Promotional mix. Publicity is the deliberate attempt to manage the public's perception of a subject A brand is a collection of Images and ideas representing an economic producer more specifically it refers to the descriptive verbal attributes and concrete symbols such as a
- Placement (or distribution): refers to how the product gets to the customer; for example, point of sale placement or retailing. Distribution (or place) is one of the four elements of Marketing mix. This fourth P has also sometimes been called Place, referring to the channel by which a product or services is sold (e. g. online vs. retail), which geographic region or industry, to which segment (young adults, families, business people), etc.
These four elements are often referred to as the marketing mix, which a marketer can use to craft a marketing plan. The marketing mix is generally accepted as the use and specification of 'the four Ps' describing the strategic position of a product in the Marketplace. A marketing plan is a written document that details the necessary actions to achieve one or more marketing objectives The four Ps model is most useful when marketing low value consumer products. Industrial products, services, high value consumer products require adjustments to this model. Services marketing must account for the unique nature of services. Services marketing is Marketing based on relationship and value Industrial or B2B marketing must account for the long term contractual agreements that are typical in supply chain transactions. Business-to-business ( B2B) is a term commonly used to describe commerce transactions between businesses as opposed to those between businesses and other groups such as A supply chain or logistics network is the system of organizations people technology activities information and resources involved in moving a product or service from Relationship marketing attempts to do this by looking at marketing from a long term relationship perspective rather than individual transactions. Relationship marketing is a form of Marketing developed from direct response marketing campaigns conducted in the 1970's and 1980's which emphasizes customer retention and satisfaction
As a counter to this, Morgan, in Riding the Waves of Change (Jossey-Bass, 1988), suggests that one of the greatest limitations of the 4 Ps approach "is that it unconsciously emphasizes the inside–out view (looking from the company outwards), whereas the essence of marketing should be the outside–in approach". Nevertheless, the 4 Ps offer a memorable and workable guide to the major categories of marketing activity, as well as a framework within which these can be used.
As well as the standard four P's (Product, Pricing, Promotion and Place), services marketing calls upon an extra three, totaling seven and known together as the extended marketing mix. These are:
- People: Any person coming into contact with customers can have an impact on overall satisfaction. An English Noun The English noun people has two distinct fields of application as a countable noun, a group of Humans Whether as part of a supporting service to a product or involved in a total service, people are particularly important because, in the customer's eyes, they are generally inseparable from the total service . As a result of this, they must be appropriately trained, well motivated and the right type of person. The term training refers to the acquisition of knowledge skills and competencies as a result of the teaching of vocational or practical skills and knowledge Motivation is the reason or reasons for engaging in a particular behavior especially Human behavior as studied in Philosophy, Conflict, Economics Fellow customers are also sometimes referred to under 'people', as they too can affect the customer's service experience, (e. g. , at a sporting event).
- Process: This is the process(es) involved in providing a service and the behaviour of people, which can be crucial to customer satisfaction. Behavior or behaviour (see spelling differences) refers to the actions or Reactions of an object or Organism, usually Customer satisfaction, a Business term, is a measure of how products and services supplied by a company meet or surpass customer expectation
- Physical evidence: Unlike a product, a service cannot be experienced before it is delivered, which makes it intangible. Physical evidence is any evidence introduced in a trialin the form of a physical object intended to prove a fact in issue based on its demonstrable physical characteristics This, therefore, means that potential customers could perceive greater risk when deciding whether to use a service. To reduce the feeling of risk, thus improving the chance for success, it is often vital to offer potential customers the chance to see what a service would be like. The Mathematical study of potentials is known as Potential theory; it is the study of Harmonic functions on Manifolds This mathematical This is done by providing physical evidence, such as case studies, testimonials or demonstrations. For the use of the term testimonial in sport (especially Football) see Testimonial match.
Four New Ps
- Personalization: It is here referred customization of products and services through the use of the Internet. Early examples include Dell on-line and Amazon. com, but this concept is further extended with emerging social media and advanced algorithms. Emerging technologies will continue to push this idea forward.
- Participation: This is to allow customer to participate in what the brand should stand for; what should be the product directions and even which ads to run. This concept is laying the foundation for disruptive change through democratization of information.
- Peer-to-Peer: This refers to customer networks and communities where advocacy happens. The historical problem with marketing is that it is “interruptive” in nature, trying to impose a brand on the customer. This is most apparent in TV advertising. These “passive customer bases” will ultimately be replaced by the “active customer communities”. Brand engagement happens within those conversations. P2P is now being referred as Social Computing and is likely to be the most disruptive force in the future of marketing.
- Predictive modeling: This refers to algorithms that are being successfully applied in marketing problems (both a regression as well as a classification problem).
- Breadth -- number of product lines in a range. In Business and Engineering, new product development (NPD is the term used to describe the complete Process of bringing a new product or service
- Depth -- number of product items in a product line.
Steps in product design
- Design and development of product ideas.
- Selection of and sifting through product ideas.
- Design and testing of product concept.
- Analysis of instead of product concept.
- Design and testing of emotional product.
Requirements of good packaging
- Functional - effectively contain and protect the contents
- Provide convenience during distribution, sale, opening, use, reuse, etc. Packaging is the science art and technology of enclosing or protecting products for distribution storage sale and use
- Be environmentally responsible
- Be cost effective
- Appropriately designed for target market
- Eye-catching (particularly for retail/consumer sales)
- Communicate attributes and recommended use of the product and package
- Compliant with retailers' requirements
- Promotes image of enterprise
- Distinguishable from competitors' products
- Meet legal requirements for product and packaging
- Point of difference in service and supply of product.
- For a perfect product, perfect colour.
Forms of packaging
- Specialty packaging — emphasizes the elegant character of the product
- Packaging for double-use
- Combination packaging two or more products packaged in the same container
- Kaleidoscopic packaging — packaging changes continually to reflect a series or particular theme
- Packaging for immediate consumption — to be thrown away after use
- Packaging for resale — packed, into appropriate quantities, for the retailer or wholesaler
Significance of a trademark
- Distinguishes one company's goods from those of another
- Serves as advertisement for quality
- Protects both consumers and manufacturers
- Used in displays and advertising campaigns
- Used to market new products
A brand is a name, term, design, symbol, or other feature that distinguishes products and services from competitive offerings. A trademark or trade mark, represented by the symbols ™ and ®, or mark is a distinctive sign or indicator used by an individual A brand is a collection of Images and ideas representing an economic producer more specifically it refers to the descriptive verbal attributes and concrete symbols such as a A brand represents the consumers' experience with an organization, product, or service.
A brand has also been defined as an identifiable entity that makes a specific promise of value.
Co-branding involves marketing activity involving two or more products. Co-branding refers to several different Marketing arrangements Co-branding is when two companies form an alliance to work together creating marketing synergy
Pricing refers to the amount of money exchanged for a product. This value is determined by utility to the consumer in terms of money and/or sacrifice that the consumer is prepared to give for it.
- Increase sales volume
- Increase revenue
- Achieve or increase profits
- Increase or maintain market share
- Eliminate competition
- Achieve advantages of mass production
Factors influencing price-determination
- Production and distribution costs
- Substitute goods available
- Normal trade practices
- Fixed prices
- Reaction of distributors
- Reaction of consumers
- Nature of demand:
- Form of market:
Steps to determine price
- Determine market share to be captured
- Set up price strategy
- Estimate demand
- Evaluate competitors' reactions
- Manufacturer to consumer (most direct)
- Manufacturer to wholesaler to retailer to consumer (traditional)
- Manufacturer to agent to retailer to consumer (current)
- Manufacturer to agent to wholesaler to retailer to consumer
- Manufacturer to agent to customer ( ex : AMWAY )
Reasons for direct selling methods
- Manufacturer wants to demonstrate goods. In Economics, one kind of good (or service is said to be a substitute good for another kind insofar as the two kinds of goods can be consumed or used in place of Supply and demand is an Economic model describing effects on price and quantity in a Market. In Economics, elasticity is the ratio of the percent change in one variable to the percent change in another variable In Neoclassical economics and Microeconomics, perfect competition describes a market in which no buyer or seller has Market power. Monopolistic competition is a common Market form. Many markets can be considered monopolistically competitive often including the markets for Restaurants, Cereal In Economics, a monopoly (from Greek monos, alone or single + polein, to sell exists when a specific individual or enterprise has sufficient An oligopoly is a Market form in which a Market or Industry is dominated by a small number of sellers (oligopolists
- Wholesalers, retailers and agents not actively selling.
- Manufacturer unable to convince wholesalers or retailers to stock product.
- High profit margin added to goods by wholesalers and retailers.
- Middlemen unable to transport.
Reasons for indirect selling methods
- Manufacturer does not have the financial resources to distribute goods.
- Distribution channels already established.
- Manufacturer has no knowledge of efficient distribution.
- Manufacturer wishes to use capital for further production.
- Too many consumers in a large area; difficult to reach.
- Manufacturer does not have a wide assortment of goods to enable efficient marketing.
- direct on-selling advantages
Reasons for using wholesalers
- Bear risk of selling goods to retailer or consumer
- Storage space
- Decrease transport costs
- Grant credit to retailers
- Able to sell for the manufacturers
- Give advice to manufacturers
- Break down products into smaller quantities
Reasons for bypassing wholesalers
- Limited storage facilities
- Retailers' preferences
- Wholesaler cannot promote products successfully
- Development of wholesalers' own brands
- Desire for closer market contact
- Position of power
- Cost of wholesalers' services
- Price stabilisation
- Need for rapid distribution
- Make more money
Ways of bypassing wholesalers
- Sales offices or branches
- Mail orders
- Direct sales to retailers
- Travelling agents
- Direct Orders
- Commission agents work for anyone who needs their services. They do not acquire ownership of goods but receive del credere commission. A del credere ( Italian for belief or trust agent in English law, is one who selling goods for his principal on credit, undertakes for an additional
- Selling agents act on an extended contractual basis, selling all of the products of the manufacturer. They have full authority regarding price and terms of sale.
- Buying agents buy goods on behalf of producers and retailers. They have an expert knowledge of the purchasing function.
- Brokers specialize in the sale of one specific product. They receive a brokerage.
- Factory representatives represent more than one manufacturer. They operate within a specific area and sell related lines of goods but have limited authority regarding price and sales terms.
Marketing communications breaks down the strategies involved with marketing messages into categories based on the goals of each message. There are distinct stages in converting strangers to customers that govern the communication medium that should be used.
- Paid form of public presentation and expressive promotion of ideas
- Aimed at masses
- Manufacturer may determine what goes into advertisement
- Pervasive and impersonal medium
Functions and advantages of successful advertising
- Task of the salesman made easier
- Forces manufacturer to live up to conveyed image
- Protects and warns customers against false claims and inferior products
- Enables manufacturer to mass-produce product
- Continuous reminder
- Uninterrupted production a possibility
- Increases goodwill
- Raises standards of living (or perceptions thereof)
- Prices decrease with increased popularity
- Educates manufacturer and wholesaler about competitors' offerings as well as shortcomings in their own.
- Maintain demand for well-known goods
- Introduce new and unknown goods
- Increase demand for well-known goods/products/services
Requirements of a good advertisement
- Attract attention (awareness)
- Stimulate interest
- Create a desire
- Bring about action
Eight steps in an advertising campaign
- Market research
- Setting out aims
- Choice of media (TV,newspaper,radio)
- Choice of actors (New Trend)
- Design and wording
- Test results
Oral presentation given by a salesman who approaches individuals or a group of potential customers:
- Live, interactive relationship
- Personal interest
- Attention and response
- Interesting presentation
Short-term incentives to encourage buying of products:
- Instant appeal
- Anxiety to sell
Marketing Public Relations (MPR)
- Stimulation of demand through press release giving a favourable report to a product
- Higher degree of credibility
- Effectively news
- Boosts enterprise's image
Many companies today have a customer focus (or customer orientation). This implies that the company focuses its activities and products on consumer demands. Generally there are three ways of doing this: the customer-driven approach, the sense of identifying market changes and the product innovation approach.
In the consumer-driven approach, consumer wants are the drivers of all strategic marketing decisions. No strategy is pursued until it passes the test of consumer research. Every aspect of a market offering, including the nature of the product itself, is driven by the needs of potential consumers. The starting point is always the consumer. The rationale for this approach is that there is no point spending R&D funds developing products that people will not buy. History attests to many products that were commercial failures in spite of being technological breakthroughs. 
A formal approach to this customer-focused marketing is known as SIVA (Solution, Information, Value, Access). This system is basically the four Ps renamed and reworded to provide a customer focus.
The SIVA Model provides a demand/customer centric version alternative to the well-known 4Ps supply side model (product, price, place, promotion) of marketing management.
- Product -> Solution
- Promotion -> Information
- Price -> Value
- Place ->Access
The four elements of the SIVA model are:
- Solution: How appropriate is the solution to the customer's problem/need?
- Information: Does the customer know about the solution? If so, how and from whom do they know enough to let them make a buying decision?
- Value: Does the customer know the value of the transaction, what it will cost, what are the benefits, what might they have to sacrifice, what will be their reward?
- Access: Where can the customer find the solution? How easily/locally/remotely can they buy it and take delivery?
This model was proposed by Chekitan Dev and Don Schultz in the Marketing Management Journal of the American Marketing Association, and presented by them in Market Leader - the journal of the Marketing Society in the UK.
The model focuses heavily on the customer and how they view the transaction.
In a product innovation approach, the company pursues product innovation, then tries to develop a market for the product. The term innovation means a new way of doing something It may refer to incremental radical and revolutionary changes in thinking products processes or organisations Product innovation drives the process and marketing research is conducted primarily to ensure that a profitable market segment(s) exists for the innovation. The rationale is that customers may not know what options will be available to them in the future so we should not expect them to tell us what they will buy in the future. However, marketers can aggressively over-pursue product innovation and try to overcapitalize on a niche. When pursuing a product innovation approach, marketers must ensure that they have a varied and multi-tiered approach to product innovation. It is claimed that if Thomas Edison depended on marketing research he would have produced larger candles rather than inventing light bulbs. Many firms, such as research and development focused companies, successfully focus on product innovation (Such as Nintendo who constantly change the way Video games are played). is a Multinational corporation headquartered in Kyoto Japan founded on A video game is a Game that involves interaction with a User interface to generate visual feedback on a video device. Many purists doubt whether this is really a form of marketing orientation at all, because of the ex post status of consumer research. Some even question whether it is marketing.
- An emerging area of study and practice concerns internal marketing, or how employees are trained and managed to deliver the brand in a way that positively impacts the acquisition and retention of customers (employer branding). Internal marketing (IM is an ongoing process that occurs strictly within a company or organization whereby the functional process aligns motivates and empowers employees at all management A brand is a collection of Images and ideas representing an economic producer more specifically it refers to the descriptive verbal attributes and concrete symbols such as a Minchington (2005 defines employer branding as “the image of the organization as a ‘great place to work’ in the minds of current employees and key stakeholders in the external market
- Diffusion of innovations research explores how and why people adopt new products, services and ideas. According to Rogers(2003 "Diffusion is the process by which an innovation is communicated through certain channels over time among the members of a social System
- A relatively new form of marketing uses the Internet and is called Internet marketing or more generally e-marketing, affiliate marketing, desktop advertising or online marketing. The Internet is a global system of interconnected Computer networks Internet marketing, also referred to as web marketing, online marketing, Internet advertising, or eMarketing, is the Marketing Affiliate marketing is an Internet -based Marketing practice in which a business rewards one or more Affiliates for each visitor or customer brought about Internet marketing, also referred to as web marketing, online marketing, Internet advertising, or eMarketing, is the Marketing It typically tries to perfect the segmentation strategy used in traditional marketing. A market segment is a subgroup of people or organizations sharing one or more characteristics that cause them to have similar product needs It targets its audience more precisely, and is sometimes called personalized marketing or one-to-one marketing. Personalized marketing (also called Personalization, and sometimes called One-to-one marketing) is an extreme form of Product differentiation.
- With consumers' eroding attention span and willingness to give time to advertising messages, marketers are turning to forms of permission marketing such as branded content, custom media and reality marketing. Permission marketing is a term used in E-marketing. Marketers will ask permission before they send advertisements to prospective customers Branded content, also known as Branded entertainment and Product placement, is a relatively new form of Advertising medium that blurs conventional distinctions Custom media is a Marketing term referring broadly to the development production and delivery of media ( print, Digital, audio, Video Reality Marketing is a form of Permission marketing that blends many types of interactive Advertising techniques into a Reality television show format
- The use of herd behavior in marketing.
- The Economist reported a recent conference in Rome on the subject of the simulation of adaptive human behavior. The Economist is an English-language weekly news and International affairs publication owned by The Economist Newspaper Ltd and edited in London Rome ( Roma ˈroma Roma is the capital city of Italy and Lazio, and is Italy's largest and most populous city with more than 2  Mechanisms to increase impulse buying and get people "to buy more by playing on the herd instinct" were shared. The basic idea is that people will buy more of products that are seen to be popular, and several feedback mechanisms to get product popularity information to consumers are mentioned, including smart-cart technology and the use of Radio Frequency Identification Tag technology. Radio-frequency identification ( RFID) is an automatic identification method relying on storing and remotely retrieving data using devices called RFID tags or A "swarm-moves" model was introduced by a Princeton researcher, which is appealing to supermarkets because it can "increase sales without the need to give people discounts. Princeton University is a private Coeducational research university located in Princeton, New Jersey. " Large retailers Wal-Mart in the United States and Tesco in Britain plan to test the technology in spring 2007 . Wal-Mart Stores Inc (or Walmart as written in its new logo is an American public corporation that runs a chain of large discount department stores The United States of America —commonly referred to as the Tesco plc is a British -based international grocery and general merchandising retail chain The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom, the UK or Britain,is a Sovereign state located
- Other recent studies on the "power of social influence" include an "artificial music market in which some 14,000 people downloaded previously unknown songs" (Columbia University, New York); a Japanese chain of convenience stores which orders its products based on "sales data from department stores and research companies;" a Massachusetts company exploiting knowledge of social networking to improve sales; and online retailers who are increasingly informing consumers about "which products are popular with like-minded consumers" (e. Columbia University is a private University in the United States and a member of the Ivy League. For a topic outline on this subject see List of basic Japan topics. The Commonwealth of Massachusetts ( is a state located in the New England region of the northeastern United States. g. , Amazon, eBay). Amazoncom Inc ( is an American electronic commerce ( E-commerce) company in Seattle Washington. eBay Inc is an American Internet company that manages eBaycom an Online auction and shopping Website in which people and businesses buy and
- See List of marketing topics for an extensive list of the marketing articles. Advertising is a form of Communication that typically attempts to persuade potential Customers to Purchase or to consume more of a particular Brand Ad tracking, also known as post-testing or ad effectiveness tracking is continuous in-market research that monitors a brand’s performance including brand and advertising Advertising research is a specialized form of marketing research conducted to improve the efficiency of advertising. Article marketing is a type of Advertising in which businesses write short articles related to their respective industry Definitions Borderless selling is defined as the process of performing Sales transaction between two or more parties from different countries (an Exporter A brand is a collection of Images and ideas representing an economic producer more specifically it refers to the descriptive verbal attributes and concrete symbols such as a Brand orientation is a deliberate approach to working with brands both internally and externally Branded content, also known as Branded entertainment and Product placement, is a relatively new form of Advertising medium that blurs conventional distinctions Cause marketing or cause-related marketing refers to a type of Marketing involving the cooperative efforts of a "for profit" business and a Non-profit Claude C Hopkins (1866-1932 was one of the great advertising pioneers he believed advertising existed only to sell something and should be measurable and justify the results that it Coolhunting is a term coined in the early 1990s referring to a new breed of Marketing professionals called coolhunters. Community marketing is a strategy to engage an audience in an active non-intrusive prospect and customer conversation Copy testing is a specialized field of marketing research, it is the study of television commercials prior to airing them Customer relationship management ( CRM) is a term applied to processes implemented by a company to handle its contact with its customers Database marketing is a form of Direct marketing using Databases of Customers or potential customers to generate personalized communications in order to Digital Marketing is the practice of promoting products and services using digital distribution channels to reach consumers in a timely relevant personal and cost-effective manner Direct marketing is a sub-discipline and type of Marketing. There are two main definitional characteristics which distinguish it from other types of marketing Engagement marketing, sometimes called "participation marketing" is a marketing strategy that invites and encourages Consumers to participate in the evolution of a Evangelism marketing is an advanced form of Word of mouth marketing (WOMM in which companies develop customers who believe so strongly in a particular product or service that The Oxford University Press defines global marketing as “ marketing on a worldwide scale reconciling or taking commercial advantage of global operational differences similarities and The term guerrilla marketing was coined by Jay Conrad Levinson in his 1984 book Guerrilla Marketing as an unconventional system of promotions on a very Integrated Marketing Communications (IMC according to The American Marketing Association, is “a planning process designed to assure that all brand contacts received Internet marketing, also referred to as web marketing, online marketing, Internet advertising, or eMarketing, is the Marketing Local advertising refers to optimizing delivering ads according to the position of the recipient (client user Macromarketing addresses big/important issues at the nexus of marketing and society Marketeer is most often a contemporary and informal euphemism for Marketing professional. Market research is the process of systematically gathering recording and analyzing data and information about Customers, Competitors and the Market Marketing collateral, in Marketing and Sales, is the collection of media used to support the sales of a product or service. A marketing co-operation or marketing cooperation is a partnership of at least two companies on the Value chain level of Marketing with the objective The marketing mix is generally accepted as the use and specification of 'the four Ps' describing the strategic position of a product in the Marketplace. Mass customization, in Marketing, Manufacturing, and Management, is the use of flexible computer-aided manufacturing systems to produce custom output Master of Marketing Research ( MMR or MMR) is a graduate degree program that may be from one to three years in length Merchandising refers to the methods practices and operations conducted to promote and sustain certain categories of commercial activity Mobile Marketing can refer to one of two categories of Marketing. Multichannel marketing is Marketing using many different Marketing channels to reach a customer Behavioral targeting or behavioural targeting is a technique used by online publishers and advertisers to increase the effectiveness of their campaigns Permission marketing is a term used in E-marketing. Marketers will ask permission before they send advertisements to prospective customers Public relations (PR is the practice of managing the flow of Information between an Organization and its Publics Public relations - often referred Predictive analytics encompasses a variety of techniques from Statistics and Data mining that analyze current and historical data to make predictions about future Product marketing deals with the first of the "4P"'s of Marketing, which are Product, Pricing, Place, and Promotion. Reality Marketing is a form of Permission marketing that blends many types of interactive Advertising techniques into a Reality television show format Referral marketing is a method of Internet marketing that relies on gaining new customers by Referrals usually through Word of mouth. Selling technique is the body of methods used in the Profession of Sales, also often called personal selling Search engine marketing, or SEM, is a form of Internet marketing that seeks to promote Websites by increasing their visibility in Search engine Shockvertising is the use of shocking images and/or scenes to advertise something Social marketing is the systematic application of Marketing along with other concepts and techniques to achieve specific behavioral goals for a social good Similarly the first full-service sports marketing and sponsorship agencies were founded in the mid-1970s with Millsport LLC (now part of The Marketing Arm) and ProServ Calls for bids or calls for tenders or invitations to tender (ITT (often called tenders for short are special procedures to generate competing offers The Cluetrain Manifesto is a set of 95 theses organized and put forward as a Manifesto, or call to action for all businesses operating within what is suggested to Trade marketing is a discipline of marketing that relates to increasing the demand at wholesaler retailer or distributor level rather than at the consumer level Up-selling is a sales technique whereby a salesman attempts to have the Customer purchase more expensive items upgrades or other add-ons in an attempt to make a Value of a product within the context of Marketing means the relationship between the Consumer 's expectations of product Quality to Viral marketing and viral advertising refer to Marketing techniques that use pre-existing Social networks to produce increases in Brand awareness Web analytics is the study of online behaviour in order to improve it This is a list of marketing topics. Marketing fundamentals ] Consumer Business Marketing
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- ^ Gabriel Steinhardt (2008). This is a list of articles on general management and strategic management topics Organizational studies - an overview Organizational development Collaborative method Management This aims to be a complete list of the articles on Economics. Topics in Finance include Fundamental financial concepts Finance an overview Arbitrage Following is a list of accounting topics Accounting Ethics Accounting for risk Accounting information system Management information systems an overview E-business Intranet strategies Manufacturing and manufacturing systems Manufacturing Factory Craft production English This is a list of business law topics within the field of Commercial law. This is a list of International trade topics. Absolute advantage Agreement on Trade-Related Aspects of Intellectual Property Rights See Business ethics, Political economy and Philosophy of business for an overview This is an annotated list of important business theorists It is in alphabetical order based on last name This is an alphabetical list of notable Economists, that is experts in the social science of Economics. 2005 business leaders - Events of 2006 - 2007 business leaders - Business leaders by year "Concept of Marketing" (PDF). 2. 0. . Blackblot Retrieved on 2008. 2008 ( MMVIII) is the current year in accordance with the Gregorian calendar, a Leap year that started on Tuesday of the Common
- ^ "The Concept of the Marketing Mix" from the Journal of Advertising Research, June 1964 pp 2-7
- ^ "Marketing Management: Strategies and Programs", Guiltinan et al, McGraw Hill/Irwin, 1996
- ^ "In the Mix: A Customer-Focused Approach Can Bring the Current Marketing Mix into the 21st Century". Chekitan S. Dev and Don E. Schultz, Marketing Management v. 14 n. 1 January/February 2005
- ^ "Swarming the shelves: How shops can exploit people's herd mentality to increase sales?", The Economist, 2006-11-11, p. The Economist is an English-language weekly news and International affairs publication owned by The Economist Newspaper Ltd and edited in London Year 2006 ( MMVI) was a Common year starting on Sunday of the Gregorian calendar. Events 308 - The Congress of Carnuntum: Attempting to keep peace within the Roman Empire, the leaders of the Tetrarchy declare 90.
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