Introducing modern marketing: the systematic thought process

Five marketing propositions Marketing is a management orientation or philosophy. Marketing comprises three main elements linked within a system of exchange transactions. Marketing is concerned with long-term (strategy) and short-term (tactics). Marketing is especially relevant to late twentieth-century market conditions. Marketing facilitates the efficient conduct of business.

Three main elements linked within a marketing system-1 The attitudes and decisions of customers (target markets) concerning the perceived utility and value of available goods and services, according to their needs, wants and interests, and ability to pay. The attitudes and decisions of producers concerning their production of goods and services for sale, in the context of their business environment and long-term objectives.

Three main elements linked within a marketing system-2 The ways in which producers communicate with consumers, before, during, and after the point of sale, and distribute or provide access to their products.

Summary of the marketing system-1 Process Marketing research and analysis Description Continuous, detailed appreciation of the historic and projected trends in the external business environment; includes consumer research and evaluation of previous marketing expenditure and results.

Summary of the marketing system-2 Process Business strategy and marketing planning Description Developing research and analysis into overall business and marketing strategies and operational plans; includes product and capacity plans.

Summary of the marketing system-3 Process Campaign planning and budgeting Description Producing costed operational programmes to integrate the four main marketing mix elements of products, prices, promotion and distribution.

Summary of the marketing system-4 Process Action programmes/implementation Description Detailed programmes of weekly and monthly activity for all forms of promotion and distribution.

Summary of the marketing system-5 Process Evaluation, monitoring and control Description Monitoring and evaluating the results of completed marketing activity; includes customer research. Feeds data into the next cycle of the marketing process. May involve adjustment of current action programmes.