Marketing Moves: A New Approach to Profits, Growth, and RenewalEssay Preview: Marketing Moves: A New Approach to Profits, Growth, and RenewalReport this essayBOOK SUMMARYâMARKETING MOVES: A NEW APPROACH TO PROFITS, GROWTH, AND RENEWALâAUTHORS:PHILIP KOTLERDIPAK C. JAINSUVIT MAESINCEEPUBLISHER:HARVARD BUSINESS SCHOOL PRESSBOOK SUMMARY OF âMARKETING MOVES: A NEW APPROACH TO PROFITS, GRWOTH, AND RENEWALâAUTHORS:PUBLISHER:PHILIP KOTLERHARVARD BUSINESS PRESSDIPAK C. JAINSUVIT MAESINCEEBRIEF INTRODUCTION:Marketing guru Philip Kotler and other two eminent academics have written this well researched work on marketing. The book is written in the form of strategic principles. The cornerstone of their approach is the idea that marketing has changed due to the emergence of digital technologies, shifting the emphasis away from traditional marketing principles towards a more customer centric approach. They attempt to rewrite marketing theory by introducing the concept of “holistic marketing”, which they argue must be accepted in order to succeed in this new Information age. This New Economy has its foundation in managing information and use of the information industries. Those who quickly embrace the need to digitise their businesses achieve cost savings and increased market penetration. It aims to help companies:
Identify new value opportunities for renewing their marketsEfficiently create more promising new value offeringsUse their capabilities and infrastructure to deliver the new value offeringsefficientlyAt the heart of their thinking about the new economy are a few key facts. First, buyers have been empowered by the digital revolution: they have more products being offered to them, more suppliers competing to sell those products, and more information on which to base their purchase decisions. Second, products are rapidly commoditized due to the rapid diffusion of knowledge and the existence of well-developed supplier networks. Finally, the new technologies permit companies to engage in widespread two way communication with their customers and create new products with this information. These changes, the authors argue, require that companies move away from the âmarketing concept” and toward an idea they call the “holistic marketing framework.” This means that success requires a restructuring of the business, so they gather deep knowledge about customers and then have the capacity to offer customized products, services, programs, and messages. Clearly, this is a careful, systematic approach to the new economy that is close to unique. The authors discuss and analyze nine blocks and four platforms. The length and depth of the information is thought provoking. Every marketer and strategic planner will find much in it that is of high value.
ORGANIZATION OF BOOK CONTENTS:Divided into two sections, the book discusses how marketing theory has changed as a result of the digital economy, and challenges the assumptions behind traditional strategic marketing theory, and then goes on in the second half to look at how you can put this into practice. It has a range of ideas, checklists, frameworks and examples that can be of practical use to all managers. Topics include formulating a market renewal strategy, identifying market opportunities and achieving profits and growth through market renewal. It is aimed at the practitioners, students of marketing. Each chapter concludes with a series of questions to think about in respect of the principles discussed in that section. The comprehensive notes and references section at the end of the work shows the extensive research that has gone into the production of this book. A well-structured Index is included.
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Chapter 1: The Theory and Practice of Marketing Strategies
Marketing Theory
“The general theory of marketing is that when a product or service is a marketing product or service, it needs to be presented in a way that achieves its goal or its results.” â Dr. Steve Cressey, Director, Marketing Communications and Marketing
Marketing Theory is an approach to marketing that relies on “marketing-related concepts,” including, among others, social media. It has become central to effective marketing strategies and marketing research today, from research conducted by the US National Institute of Economic Research (NIIR), the Massachusetts Institute of Technology to some self-published research papers by marketing researchers, and from a combination of research and clinical experience. A book of this kind aims to fill in the gaps in traditional and traditional marketing techniques used for the purpose of marketing. As the first, the book covers the basic concepts introduced to marketing. We take a look at social, economic, and psychological mechanisms that inform marketing. A new version of this book is available as it pertains to marketing strategies: the Strategic Marketing Theory (SMS) section in the book.
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Chapter 2: Strategic Marketing Tactics and the Structure of Marketing Strategies
Marketing Strategy
“We argue that, as key components of a successful marketing strategy, the target market is an appropriate point in space and that it encompasses all sectors. The product itself will be the most crucial component of your strategy, to be effective. A strategy to build market value by selling some of the most useful content is an integral part of winning value for the company, so it must be effective enough that it is built into the platform of market value. Therefore, in order to create a successful marketing strategy, its structure must remain consistent with that of a marketing strategy’s social network.” â Dr. Mark Auerbach, Director, Marketing Services Business and Operations â The University of Minnesota
Sales Strategy
“Sales agents can create and sell brand-building strategies in various mediums such as advertising software, online services, and digital marketing. It is very important that people be able to communicate that their business strategy is a strategy of using that information in real-time, even if all information is false.” â Dr. David Laughlin, Director of Marketing Services at Bowerman Research
The Sales Strategy in Marketing can also be a general-purpose marketing strategy, whether it is used to sell a specific service or to help recruit new users to a specific market. Sales in many industries are driven by consumer demand, including in advertising; however, more significant market phenomena like demand for consumers and business growth drive the creation and use of sales tactics. The focus at Bowerman focuses on the fundamental characteristics of a sales strategy, and their strengths and weaknesses. The books listed below give detailed examples of different types of sales tactics:
1. Marketing Strategy of All Types
(a) The Marketing Strategy in Marketing â Chapter 1: A Strategy for Creating and Selling Sales Strategies
(b) Selling A Sales Strategy
[center]
[h2]
Chapter 1: The Theory and Practice of Marketing Strategies
Marketing Theory
“The general theory of marketing is that when a product or service is a marketing product or service, it needs to be presented in a way that achieves its goal or its results.” â Dr. Steve Cressey, Director, Marketing Communications and Marketing
Marketing Theory is an approach to marketing that relies on “marketing-related concepts,” including, among others, social media. It has become central to effective marketing strategies and marketing research today, from research conducted by the US National Institute of Economic Research (NIIR), the Massachusetts Institute of Technology to some self-published research papers by marketing researchers, and from a combination of research and clinical experience. A book of this kind aims to fill in the gaps in traditional and traditional marketing techniques used for the purpose of marketing. As the first, the book covers the basic concepts introduced to marketing. We take a look at social, economic, and psychological mechanisms that inform marketing. A new version of this book is available as it pertains to marketing strategies: the Strategic Marketing Theory (SMS) section in the book.
[center]
[h2]
Chapter 2: Strategic Marketing Tactics and the Structure of Marketing Strategies
Marketing Strategy
“We argue that, as key components of a successful marketing strategy, the target market is an appropriate point in space and that it encompasses all sectors. The product itself will be the most crucial component of your strategy, to be effective. A strategy to build market value by selling some of the most useful content is an integral part of winning value for the company, so it must be effective enough that it is built into the platform of market value. Therefore, in order to create a successful marketing strategy, its structure must remain consistent with that of a marketing strategy’s social network.” â Dr. Mark Auerbach, Director, Marketing Services Business and Operations â The University of Minnesota
Sales Strategy
“Sales agents can create and sell brand-building strategies in various mediums such as advertising software, online services, and digital marketing. It is very important that people be able to communicate that their business strategy is a strategy of using that information in real-time, even if all information is false.” â Dr. David Laughlin, Director of Marketing Services at Bowerman Research
The Sales Strategy in Marketing can also be a general-purpose marketing strategy, whether it is used to sell a specific service or to help recruit new users to a specific market. Sales in many industries are driven by consumer demand, including in advertising; however, more significant market phenomena like demand for consumers and business growth drive the creation and use of sales tactics. The focus at Bowerman focuses on the fundamental characteristics of a sales strategy, and their strengths and weaknesses. The books listed below give detailed examples of different types of sales tactics:
1. Marketing Strategy of All Types
(a) The Marketing Strategy in Marketing â Chapter 1: A Strategy for Creating and Selling Sales Strategies
(b) Selling A Sales Strategy
CHAPTER 1:POSITIONING MARKETING AS THE DRIVER IN THE DIGITAL ECONOMYMany forces are shaping the world of tomorrow, today. They are biotechnology, globalization, deregulation, privatization etc. this has created new economy which is based on digital revolution and management of information industries. The major shifts in the business and marketing thinking in the times of new digital economy are listed below:
From asymmetry of information to democratization of information.Form goods for elites to goods for everyoneFrom make-and-sell to sense-and-respondFrom local economy to global economyFrom economics of diminishing returns to the economics of increasing returns.From owing assets to gaining accessFrom corporate governance to market governanceForm just-in-time to real-timeDigital revolution has given consumers new capabilities:A substantial increase in buyer powerA greater variety of available goods and servicesA great amount of information about practically anythingAn increased ability to interact with vendors when placing and receiving ordersA leveraged ability to chat with other buyers and compare notes.Todayâs companies have also benefited form new capabilities ushered in by internet.Companies can add a powerful new information and sales source with extended geographical reach to inform customers and to promote their products and services.
From asymmetry of information to democratization of information.Form goods for elites to goods for everyoneFrom make-and-sell to sense-and-respondFrom local economy to global economyFrom economics of diminishing returns to the economics of increasing returns.From owing assets to gaining accessFrom corporate governance to market governanceForm just-in-time to real-timeDigital revolution has given consumers new capabilities:A substantial increase in buyer powerA greater variety of available goods and servicesA great amount of information about practically anythingAn increased ability to interact with vendors when placing and receiving ordersA leveraged ability to chat with other buyers and compare notes.
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{p}Media-based advertising is a technology of its time when it is not possible for any entity to monetize its message. An example is a news service with its own video store and a print magazine where it is allowed to monetize the content from its own print page, as though each article was published on the server of a media organization. It is this kind of advertising that many traditional media organization models rely on to promote their own products and services. With media such as social network networks like Twitter or YouTube, content is easily monetized because its content is freely created and edited, providing a powerful platform for anyone to post, review, report or promote their own content on. Today’s digital media have much greater reach than any traditional media organization. A large section of internet has used this opportunity to broadcast or spread a broad range of information over one’s phone, computer, TV, phone conversations, and even websites. This broad range of the information that can be broadcast into content, news, movies, and other websites could, for example, include content that would easily be published, shared and broadcast by other individuals on another computer. It has worked its way across web sites and on other information platforms as a means to build large public networks as news media and other news services have proliferated across the internet. If information is disseminated well within a medium that can be easily identified and targeted within a time frame. For example, the Internet can spread more information that is quickly visible to potential advertisers and the media conglomerates through a public and automated network. In the digital era, news media and other news sources are a highly important part of the economy. These are the media people who want to disseminate information well within the current time; how do they do it better than other people? What’s more, media sources are becoming increasingly available and are therefore more relevant to them. Today’s online platforms such as Facebook and Twitter share information which is spread widely across the world, and therefore more relevant to people’s lives than they had previously. It is no longer possible only for news organizations, websites and people’s families to communicate and communicate across the globe with others across the globe via their social media accounts. Today’s news organizations and news networks use social media to reach millions of people, often through a mix of news media, social media, and other sources. These networks are often managed by individual companies. However because of the ease with which information on all kinds of news can be freely spread, large sections of the world are not completely disconnected from the Internet. They use the Internet to communicate information between many people online. It was in this way that internet-based advertising was launched. Companies can use social media platforms as their means of spreading information amongst many people for example. And as mentioned before, digital media are still evolving. It is becoming easier for more industries and individuals to communicate with one another. In the past six years, some of the industries have seen rapid growth in both their popularity and growth in their marketing. However, not all and many of the media organizations are being managed properly by these organizations for the same reason. They often end up developing products and services that they create directly and profitably independently from the companies’ efforts to improve the situation. The following are the best and most effective industries to help businesses develop new technologies that can be used for various activities that may serve as tools for a sustainable business model.
Companies can facilitate two way communications with tier customers and prospects as well as expedite transactions.Companies can customize their offering and services to individual customers.Companies can improve their purchasing, recruiting, training and internal and external communicationAuthors identify three major