The Evolution of Marketing Management – The History & Future

Marketing Management is a discipline focused on the practical application of marketing techniques and the management of a firm’s marketing resources and activities for the purpose of creating a demand for the firm’s products for selling the same.

Traditionally, marketing management was partitioned into three silos, namely the 3 C’s, “Customer analysis”, “Company analysis” and “Competitor analysis” (so-called “3Cs” analysis). Over the years, it has evolved into an integrative five “Cs”: “Customer analysis”, “Company analysis”, “Collaborator analysis”, “Competitor analysis”, and “Analysis of the industry Context”.

As the focus of marketing shifted from 3 Cs to 5Cs, so has the strategic intent of firms. It was recognized that a Pull strategy is way more sustainable than a Push strategy, and so has the models of integrative marketing management.

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Have you read our article on the 4 P’s on Social Marketing?

Also did you read our article on the 7 P’s of Services Marketing?

These articles are highly popular posts in our educative blog.

Tsunami – What comes next ?

What a terrible, terrible incident took place on 11th of March, 2011. If there is one country which can withstand earthquakes then it must be Japan. Infact the very word tsunami is Japanese meaning ‘harbour wave’. Japan is a country which faces earthquake once in every 5 minutes. Infact even in schools the students are trained what to do in case there is an earthquake. But what happened last week is the worst that the country has faced so far. The Japanese PM has cited it to be the worst incident since the Second World War.
Because of nature’s wrath, such horrendous incidents are becoming regular in all parts of the world. This year supposedly has brought the heaviest snowfall ever in the European countries. And now the triple whammy of earthquake, followed by tsunami and meltdown at nuclear reactors have estimatedly killed thousands while more than a million has been left without food and water. The insurance companies have predicted it to be the costliest with insured lossed running into as much as 35 billion USD, without considering the loss caused by the tsunami.
The fear of what’s next is really scary. Japan has changed geologically and economically and will take long time to get back to normal. But we have obstructed the ways of nature in too many ways for the sake of development for far too long a time. And now with each stoke, the nature is taking us years back from where it would take a lot of effort to come back. Its better that we start getting sensible, else who knows what we might see in this life only…
Will catch u soon again..till then God bless us

@Priyanka

More plight to common man

Being a tax professional going through the budget changes is what we have to do as a part of our job. When the government presents a budget, the Finance Minister tries to convince that they keep the best interest of the common people in mind while imposing tax on the general public. This year through budget 2011, the Finance Minister of India has levied service tax on A/c hospitals having 25 or more beds.
The Federation of Indian Chambers of Commerce and Industry along with several prominent health care institutes throughout India has raised a voiced against this measure. In India it is impossible for a blood bank or operation theatre to function without proper air-conditioning. Further, the life of several patents would be at stake if they get admitted in a hospital without an A/C. The Government has proposed that they are levying such tax only on people who can afford it. But most importantly, i think the Hon’ble Finance Minister, however educated he might be has forgotten that nobody goes to hospital to relax. Most people who are admitted in hospitals are facing a life and death situation. Further, there are so many unprivileged people who put everything at stake, sale or mortgage their fixed assets to save their beloved ones.
The entire liability of service tax would be passed on by the clinics to their patients. What appears to the Government to be a mere tax collection , can make a lot of people beg on streets just to add a few more days to the life of their dearest one.
According to FICCI, India today is in dire need to expand its healthcare infrastructure which is extremely inadequate. The quantity of bed allocated is 0.9 for every 1,000 people in our country when compared to the global average of 2.7, or 3.0 in China and 2.4 in Brazil.
I really pray that the Government bows in front of the combined pressure from all areas and removed this clause from the Finance Bill. If they cant control inflation, they better not make sure to add more plight to the poor and ailing who are already being neglected by our so called “Prospering Country”.
Signing off for today
@Priyanka

PS: The tax structure of the Union Budget 2011

The 7S for Digital Marketing

Digital Marketing is basically promotion of brands using all available forms of digital advertising media to reach the target segment. In current marketing media, the popular media includes Radio, mobile, Internet, Television, social media marketing and other less popular forms of digital media like Digital Signage, Digital bill boards, etc.

Check out our article on Digital Marketing – Theories, Strategies and Frameworks

The 7 S for Digital Marketing typically is the way a Digital marketing strategy is systematically utilized.

  • Strategy: Does the strategy fit with the vision and mission of your organization?
  • Shared values: Does the strategy go hand in hand with the shared values of not only your target customer segment but also of that of the implementers?
  • Structure: Does your organizational structure support adaptations to changes in environment in response to your campaign?
  • Skill: Do you have the suitable skilled workforce to carry out the campaign successfully?
  • Staff: Are your staff equipped to deliver your strategy (location wise, access to technical resources)
  • Style: Does the campaign thematically fit with the style of your other campaigns?
  • Systems: Do you have systems in place to carry out the campaign? Is there technical support for your advertising campaigns and marketing plans?

Hope this clears up the 7S of Digital Marketing. Hope this helps your company to chalk out a successful digital marketing program. Do let us know what you think of the article, with your valuable comments.

Have you read our article on the 4 P’s on Social Marketing?

Also did you read our article on the The 4 P’s of Marketing – The Marketing Mix strategies?

Dreams

There are clubs you can’t belong to, neighborhoods you can’t live in, schools you can’t get into, but the roads are always open. – Nike
Did anyone of you dream ever ? I am not talking about a passing dream or a mere fantasy, but something that has germinated inside you, something u have thought, lived, felt so much so that it has become a part of your blood..
A dream is born in our subconscious..and then it spreads through our origin…so much so that we become an extension of what we dream..the dreams we see with our eyes open determine who we turn out to be..like a bonshayee tree it spreads its roots through our veins and persuades us to take the chances we would consider risky unless we are under the spell of our dreams..no wonder we might spend a few years trying to climb the imaginary stairs we build to reach our destiny..but then is it worthwhile to spend the whole life thinking that only at the cost of few years we could have got what we are being born to do?
One thing we should always realise is that we begin by choosing our dreams..but it ends with the dreams testing our worthiness before being fulfilled..it is only when we live, breathe and give our souls completely does our dreams realise..our dreams determine to what extent we are ready to sacrifice for it to be fulfilled…also how we come across people on our way who either scatter them or hold our hands and show us the path to destination..but at the end its our own decisions that determines the way..

I donno what awaits for me..but it doesnt matter at all….my hope has ended my fear….as someone said good things happen to good people..but it is us who defines the good..creates them..inside i have always known what I am meant to do..it is not only my dream..i shall definitely make into reality soon..experience might say it is risky..reason might say that i might fail..but the heart always says to give it a try….and i shall try till i succeed

The 4 P’s of Marketing – The Marketing Mix strategies

The term “marketing mix” was coined in the early 1950s by Neil Borden in his American Marketing Association presidential address. This is one of the preliminary knowledge every marketer must have and is considered to be the basics of every marketing theory, which emerged henceforth.

The basic major marketing management decisions can be classified in one of the following four categories, namely Product, Price, Place (distribution) and Promotion.

Product: It is the tangible object or an intangible service that is getting marketed through the program. Tangible products may be items like consumer goods (Toothpaste, Soaps, Shampoos) or consumer durables (Watches, IPods). Intangible products are service based like the tourism industry and information technology based services or codes-based products like cellphone load and credits. Product design which leads to the product attributes is the most important factor. However packaging also needs to be taken into consideration while deciding this factor. Every product is subject to a life-cycle including a growth phase followed by an eventual period of decline as the product approaches market saturation. To retain its competitiveness in the market, continuous product extensions though innovation and thus differentiation is required and is one of the strategies to differentiate a product from its competitors.

Price: The price is the simply amount a customer pays for the product. If the price outweigh the perceived benefits for an individual, the perceived value of the offering will be low and it will be unlikely to be adopted, but if the benefits are perceived as greater than their costs, chances of trial and adoption of the product is much greater.

Place: Place represents the location where a product can be purchased. It is often referred to as the distribution channel. This may include any physical store (supermarket, departmental stores) as well as virtual stores (e-markets and e-malls) on the Internet. This is crucial as this provides the place utility to the consumer, which often becomes a deciding factor for the purchase of many products across multiple product categories.

Promotion: This represents all of the communications that a marketer may use in the marketplace to increase awareness about the product and its benefits to the target segment. Promotion has four distinct elements: advertising, public relations, personal selling and sales promotion. Advertising may include using specialty packaging to showcase products, utilizing promotional products for your company, or online ads. A certain amount of crossover occurs when promotion uses the four principal elements together (e.g in film promotion). Sales staff often play a major role in promotion of a product.

So how does a marketer strategize to attain success in a marketing program, using these 4 P’s?

Offering specificity introduces the contextual customization of what needs to be done to address the questions raised in each of these 4 Ps of Marketing. What is it that the marketer is trying to provide value, through each of the “disguised value proposition” to the end consumer. In there very essence, the 4 Ps of marketing is actually a framework that allows the marketer to structure the value proposition of an existing product (or a new product at the time of launch) so as to garner the highest mindshare by distinctly structuring the same. However, that is easier said that done and many marketers fumble when it comes to playing with the real life nuances and bringing out a crisp value proposition.

Do let us know if you liked our article or if you have any questions.

Have you read our article on the 4 Cs of Marketing Mix?

Also did you read our article on the 7 P’s of Services Marketing?

These articles are highly popular posts in our educative blog.

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