Marketing Prof. A. Doherty.

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Presentation transcript:

Marketing Prof. A. Doherty

Introduction to Marketing Strategy The Philosophical Underpinnings of Modern Marketing and Management strategy are based largely on the writings and research of all business scholars. Peter Trucker; Theodore Levitt; Thames Peters

A. Peter Trucker There is only one valid definition of business purpose: to create a customer There are two fundamental business activities: Marketing INNOVATION (which comes from changing needs or a better way of satisfying existing needs)

What needs to be done to be successful? Five questions: 1. What is our business? 2. Who is the customer? 3. What is value to the customers? 4. What will our business be? 5. What should our business be? Should add: What needs to be done to be successful?

B. Theodore Levitt (“Marketing Myopia”, HBR 1960) Fundamental Question: What business we are in? Fundamental Mistake: Defined business in terms of products and markets rather than consumer needs. Examples: (1) Electric Bit Manufacture (2) Rail Road (3) Movie Business of 40’s and 50’s

C. Thomas Peters Co-Author of In Search of Excellence followed later by A passion for Excellence. Key Finding: Excellent companies are close to their customers. Other just talk about it.