The purpose of this report is discuss: What is marketing? Why "marketing is important and the role it plays in the profitability of the company.
I use a toothbrush company: Oral-B as the example, talk about the influence of marketing to a company by Marketing philosophies, Marketing environment, Market analysis (STP) and Marketing mix (4"P"s).
By this process, I find out: Marketing is a very important tool for company to win the competition in the modern business now. A company could exist on the business world or not, mostly depends on it follow the theory of marketing or not.
Background of our company
For more than 50 years, Oral-B has produced the highest quality dental hygiene products for countless people, families, and dental professionals worldwide. Our powerful toothbrush range is backed by over 60 published clinical studies that demonstrate the superior performance of our oscillating-rotating technology. The Oral-B brand is the leader in the $4.5-billion toothbrush category, marketing toothbrushes for children and adults. (source from: http:// www.oral-b.com) To keep on satisfy customers and make more profit, we have to follow the guide of "marketing." What is marketing?
What is "Marketing"?
Definition of marketing
"Marketing is a social and managerial process by which individuals and groups obtain what they need and want by creating and exchange products and value with others." (Kotler P, Brown L, Adam S, Armstrong G,. 2003:8)
The development makes the marketing today has changed a lot:
1950s-1960s: The companies at that time focused on gaining customers for a multitude of newly developed consumer goods.
1960s-1970s: The focus of companies move to Industrial marketing.
1970s-1980s: The social environment influenced marketing, and there's more non-profit and societal marketing during that time.
1980s-1990: Companies started to pay attention to the feeling of customers after they purchased the products. There's a new kind of marketing called "Service Marketing" appear between 1980s-1990s.
1990s-2000s: The development of transport brought more convenience and condition for satisfy customers and supporting the global marketing.
2000s and further: Today, internet comes in to our daily life, and become the most useful tool of our business and studies. Online one-to-one marketing is more and more popular for consumers.
Core marketing concepts
We have to know what kinds of customers want and need, for example: now, lots of customers will not be satisfied by the normal toothbrushes which just for brushing teeth, but prefer a new kind of toothbrush which is more comfortable and convenience to use. For those needs, we can improve the quality of our products to fit for demands from consumers. There fore, customers will try our toothbrush, and believe the value of our brand, we'll have more market, customers, and get more profits. The concept could help us build our market with customers, have more ways to search information from customers again, then improve the quality of our products, get profits...
"A managerial philosophy is a mind-set, which consciously or unconsciously guide the effort of business managers as they go about their tasks. There're five philosophies in marketing: