PLEASE READ THE FOLLOWING INFORMATION AND PROVIDE FEEDBACK WITH 75-100 WORDS.
Four Marketing Management Philosophies
1. Production Orientaiton-Is simply what the business makes to sell to the public. This orientation askes questions to the company to figure out what the establishment can effectively manufacture and maximize profits. Questions like what can I make? What can my engineers design?
2. Sales Orientation- This is the use of aggressive pushing of a product to make the most profit used by business to business sales, insurance, and automotive companies.
3. Market Orientation- This is when the wants and needs of the customer are important. This orientation researches what people are purchasing and providing a service in accordance to the demand. This is when well organized ideas are implemented to satify a need. For example Harley Davidson implemented surveys to existing customers on how they could make their bikes better, in return they were informed that the customer wanted a lighter bike.
4. Societal Marketing Orientation- This builds off of the market orientation with providing the wants and needs of the customer and adds to it by including the goals of the organiztions long term social reputation. This is accomplished by a company for example using recyclable materials in their products.
Ansoff’s Strategic Matrix is one of 3 commonly used tools in strategic alternatives in business. Ansonff’s Matrix presents four options a business can use to maximize profits. First option is Marketing Penetration, which is a method to increases market share among existing customers by adding a service. Starbucks accomplished this by introducing a reloadable starbucks card to increase sales. 2nd Marketing development is to introduce new customers to already existing products for example simply by adding more locations to those who dont already have access. Third is Product development which is making a new product to appeal to new customers using present makets, whats hot selling. Starbuck created an instant coffee to sell to the clients who want to make their coffee at home. Fourth and final is Diversification, intoduces a new product to increase sales perferably in markets with little or no competition. For example Starbucks now has its own line of bottle water Ethos.
Discuss process of implementing a marketing plan.
The implementing process is putting the plan to action, this maybe the hardest part of the marketing plan. This will require communication, time lines, and job assignments. A recommended task force should be established to insure proper placement of the plan. The challenges with this process is change and people don’t like change. By having people assigned to this process with leadership and forward thinking should over come the resistance of the process to change and any other obstacles the task force may face. It all comes down to organization and communication.
