Week 3: Approaching marketing strategies

YOU ALREADY KNOW A LOT ABOUT MARKETING……..IT IS ALL AROUND YOU!!!

Marketing could be defines as “a social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others” (Kotler, 2006).

Therefore, the first step to plan a marketing strategy for a desired target is to understand if we are giving an answer to a desire or a need. Indeed, it is always useful to ask ourselves “What is the thing I’m giving or delivering to my customer for?”

Let’s watch a video about how to know what a customer needs and wants.

The marketing process can structured as follows:

  1. PRODUCT ORIENTATION – Production is the main function
  2. SELLING ORIENTATION – Markets saturation underlines the necessity of selling
  3. MARKET ORIENTATION – Consumer needs are always changing……Consumers’ needs and demands are the first goal of every firm

As results, marketing is just a part of the set of firms’ strategies.

However, in the modern marketing, some authors highlight the concept of “BLUE OCEAN”: the ability of the enterprise (or individual) to constantly analyze its reference market in order to create an innovative or new product, capable of having no rivals and creating a market where the rules are all to be written. Let’s watch this video

Further reading

Assignment

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