Marketing

Corporate Marketing Management

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Corporate Marketing refers to activities a company undertakes to promote the buying or selling of a product, service, or good. It is one of the primary components of business management and commerce. Marketers can direct their product to other businesses (B2B marketing) or directly to consumers (B2C marketing). Regardless of who is being marketed to, several factors apply, including the perspective the marketers will use. Known as market orientations, they determine how marketers will approach the planning stage of marketing.

The ‘marketing concept’ proposes that to complete its organizational objectives, an organization should anticipate the needs and wants of potential consumers and satisfy them more effectively than its competitors. This concept originated from Adam Smith’s book The Wealth of Nations but would not become widely used until nearly 200 years later. Marketing and Marketing Concepts are directly related. The term of Corporate Marketing, what is commonly known as attracting customers, incorporates knowledge gained by studying the management of exchange relationships and is the business process of identifying, anticipating and satisfying customers’ needs and wants.

Main contentsSee more from basic to advanced

Core Marketing Concepts

To understand the marketing function, we need to understand the following core set of concepts (see Table 1.1). 1. NEEDS, WANTS, AND DEMANDS Needs are

The Scope of Marketing

To be a marketer, you need to understand what marketing is, how it works, who does it, and what is marketed. 1. WHAT IS MARKETING?

The Value of Marketing

Finance, operations, accounting, and other business functions won’t really matter without sufficient demand for products and services so the firm can make a profit. In

Marketing in Practice

Given the new marketing realities, organizations are challenging their marketers to find the best balance of old and new and to provide demonstrable evidence of

A Dramatically Changed Marketplace

These three forces—technology, globalization, and social responsibility—have dramatically changed the mar­ketplace, bringing consumers and companies new capabilities. The marketplace is also being transformed by changes

The New Marketing Realities

The marketplace is dramatically different from even 10 years ago, with new marketing behaviors, opportunities, and challenges emerging. In this book we focus on three

Marketing Management Tasks

Figure 1.7 summarizes the three major market forces, two key market outcomes, and four fundamental pillars of holistic marketing that help to capture the new

Updating the Four Ps Marketing mix

Many years ago, McCarthy classified various marketing activities into marketing-mix tools of four broad kinds, which he called the four Ps of marketing: product, price,

Company Orientation toward the Marketplace

Given these new marketing realities, what philosophy should guide a company’s marketing efforts? Let’s first re­view the evolution of marketing philosophies. 1. THE PRODUCTION CONCEPT

Components of a Modern Marketing Information System

The major responsibility for identifying significant marketplace changes falls to the company’s marketers. Marketers have two advantages for the task: (1) disciplined methods for collecting

Sample Marketing Plan Pegasus Sports International

1. Executive Summary Pegasus Sports International is a start-up aftermarket inline skat­ing accessory manufacturer. Inline skates have four or five wheels arranged in a single

The Nature and Contents of a Marketing Plan

Working within the plans set by the levels above them, marketing managers come up with a marketing plan for individual products, lines, brands, channels, or

Business Unit Strategic Planning

The business unit strategic-planning process consists of the steps shown in Figure 2.4. We examine each step in the sections that follow. 1. THE BUSINESS

Corporate and Division Strategic Planning

Whether they let their business units set their own goals and strategies or collaborate in doing so, all corporate headquarters undertake four planning activities: Defining

Marketing and Customer Value

The task of any business is to deliver customer value at a profit. A company can win only by fine-tuning the value delivery process and

The Marketing Research Process

To take advantage of all the resources and practices available, good marketers adopt a formal marketing research process that follows the six steps shown in

The Scope of Marketing Research

Marketing managers often commission formal marketing studies of specific problems and opportunities, like a market survey, a product-preference test, a sales forecast by region, or

Forecasting and Demand Measurement

Understanding the marketing environment and conducting marketing research (described in Chapter 4) can help to identify marketing opportunities. The company must then measure and forecast

Analyzing the Macroenvironment

Successful companies recognize and respond profitably to unmet needs and trends. 1. NEEDS AND TRENDS Dockers was created to meet the needs of baby boomers

Marketing Intelligence

1. THE MARKETING INTELLIGENCE SYSTEM A marketing intelligence system is a set of procedures and sources that managers use to obtain everyday infor­mation about developments

Internal Records

To spot important opportunities and potential problems, marketing managers rely on internal reports of orders, sales, prices, costs, inventory levels, receivables, and payables. 1. THE

Cultivating Customer Relationships

Companies are using information about customers to enact precision marketing designed to build strong long­term relationships.74 Information is easy to differentiate, customize, personalize, and dispatch

Maximizing Customer Lifetime Value

Ultimately, marketing is the art of attracting and keeping profitable customers. Yet every company loses money on some of its customers. The well-known 80-20 rule

Building Customer Value, Satisfaction, and Loyalty

Managers who believe the customer is the company’s only true “profit center” consider the traditional organiza­tion chart in Figure 5.1(a)—a pyramid with the president at

MARKETING EXCELLENCE INTUIT

Intuit develops and sells financial and tax solution software for consumers and small and medium-sized businesses. The company was founded in 1983 by a former

MARKETING EXCELLENCE IDEO

IDEO is the largest and one of the most influential design consultancy firms in the United States. The company has created many recognizable design icons

Measuring Marketing Productivity

Although we can easily quantify marketing expenses and investments as inputs in the short run, the resulting outputs such as broader brand awareness, enhanced brand

Behavioral Decision Theory and Behavioral Economics

As you might guess from low-involvement decision making and variety seeking, consumers don’t always process information or make decisions in a deliberate, rational manner. One

The Buying Decision Process: The Five-Stage Model

The basic psychological processes we’ve reviewed play an important role in consumers’ actual buying decisions. Table 6.2 provides a list of some key consumer behavior

Key Psychological Processes

The starting point for understanding consumer behavior is the stimulus-response model shown in Figure 6.1. Marketing and environmental stimuli enter the consumer’s consciousness, and a

What Influences Consumer Behavior?

Consumer behavior is the study of how individuals, groups, and organizations select, buy, use, and dispose of goods, services, ideas, or experiences to satisfy their

MARKETING EXCELLENCE Harley-Davidson

Harley-Davidson, a U.S. brand synonymous with beauti­ful motorbikes, inspires many to own its customized bike with iconic engine. Today the brand is sought after not

MARKETING EXCELLENCE AUDI

The year 1899 marked the establishment of August Horch & Cie, the first car manufacturing company founded by August Horch. As a pioneer in automotive

Stages in the Buying Process

We’re ready to describe the general stages in the business buying-decision process. Patrick J. Robinson and his associates identified eight stages and called them buyphases.31

The Purchasing/Procurement Process

In principle, business buyers seek the highest benefit package (economic, technical, service, and social) in rela­tionship to a market offering’s costs. The strength of their

Participants in the Business Buying Process

Who buys the trillions of dollars’ worth of goods and services needed by business organizations? Purchasing agents are influential in straight-rebuy and modified-rebuy situations, whereas

What is Organizational Buying?

Frederick E. Webster Jr. and Yoram Wind define organizational buying as the decision-making process by which formal organizations establish the need for purchased products and

MARKETING EXCELLENCE IKEA

IKEA was founded in 1943 by a 17-year-old Swede named Ingvar Kamprad who sold pens, Christmas cards, and seeds out of a shed on his

MARKETING EXCELLENCE DISNEY

Few companies have been able to connect with their audience as well as Disney has. From its founding by brothers Walt and Roy Disney in

Deciding Whether to Go Abroad

Most companies would prefer to remain domestic if their domestic market were large enough. Managers would not need to learn other languages and laws, deal

Competing on a Global Basis

Some companies have long been successful global marketers—firms like Shell, Bayer, and Toshiba have sold around the world for years. In luxury goods such as

MARKETING EXCELLENCE GE

Thomas Edison founded the Edison Electric Light Company in 1878. The company, which soon changed its name to General Electric (GE), became an early pioneer

MARKETING EXCELLENCE ACCENTURE

Accenture was launched as the Administrative Accounting Group in 1942 and was the consulting arm of accounting firm Arthur Andersen. In 1989, it became a

Managing Business-to-Business Customer Relationships

Business suppliers and customers are exploring different ways to manage their relationships.60 Loyalty is driven in part by supply chain management, early supplier involvement, and

Developing Effective Business-to- Business Marketing Programs

Business-to-business marketers are using every marketing tool at their disposal to attract and retain customers. They are embracing systems selling and adding valuable services to

MARKETING EXCELLENCE L’OREAL

When it comes to globalizing beauty, no one does it better than L’Oreal. The company was founded in Paris more than 100 years ago by

MARKETING EXCELLENCE TWITTER

Few companies have had such a vast global impact in so short a time as Twitter. The online social networking com­pany was the brainchild of

Country-of-Origin Effects

Country-of-origin perceptions are the mental associations and beliefs triggered by a country. Government offi­cials want to strengthen their country’s image to help domestic marketers that

Deciding on the Marketing Program

International companies must decide how much to adapt their marketing strategy to local conditions.52 At one extreme is a standardized marketing program worldwide, which promises

Deciding How to Enter the Market

Once a company decides to target a particular country, it must choose the best mode of entry with its brands. Its broad choices are indirect

Deciding Which Markets to Enter

In deciding to go abroad, the company needs to define its marketing objectives and policies. What proportion of international to total sales will it seek?

MARKETING EXCELLENCE BMW

BMW is the ultimate driving machine. Manufactured by the German company Bayerische Motoren Werke AG, BMW stands for both performance and luxury. The com­pany was

MARKETING EXCELLENCE HSBC

HSBC, originally known as the Hong Kong and Shanghai Banking Corporation Limited, was established in 1865 to finance the growing trade between China and the

Effective Segmentation Criteria

Not all segmentation schemes are useful. We could divide buyers of table salt into blond and brunette custom­ers, but hair color is undoubtedly irrelevant to

Market Targeting

There are many statistical techniques for developing market segments.65 Once the firm has identified its market- segment opportunities, it must decide how many and which

How Should Business Markets Be Segmented?

We can segment business markets with some of the same variables we use in consumer markets, such as geog­raphy, benefits sought, and usage rate, but

Bases for Segmenting Consumer Markets

Market segmentation divides a market into well-defined slices. A market segment consists of a group of customers who share a similar set of needs and

9 thoughts on “Corporate Marketing Management”

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