The marketing concept nike approach

Today most firms have adopted the marketing concept, but this has not always been the case. In in The Wealth of Nations, Adam Smith wrote that the needs of producers should be considered only with regard to meeting the needs of consumers. While this philosophy is consistent with the marketing concept, it would not be adopted widely until nearly years later. To better understand the marketing concept, it is worthwhile to put it in perspective by reviewing other philosophies that once were predominant.

The marketing concept nike approach

Definition[ edit ] Marketing is defined by the American Marketing Association as "the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.

From a sales process engineering perspective, marketing is "a set of processes that are interconnected and interdependent with other functions" of a business aimed at achieving customer interest and satisfaction. The Chartered Institute of Marketing defines marketing as "the management process responsible for identifying, anticipating and satisfying customer requirements profitably.

However, because the academic study of marketing makes extensive use of social sciencespsychologysociologymathematicseconomicsanthropology and neurosciencethe profession is now widely recognized as a science, [8] [ not in citation given ]allowing numerous universities to offer Master-of-Science MSc programs.

Concept[ edit ] The 'marketing concept' proposes that in order to satisfy the organizational objectives, an organization should anticipate the needs and wants of potential consumers and satisfy them more effectively than its competitors.

How Nike’s CEO Shook Up the Shoe Industry

Given the centrality of customer needs and wants in marketing, a rich understanding of these concepts is essential: Something necessary for people to live a healthy, stable and safe life. When needs remain unfulfilled, there is a clear adverse outcome: Needs can be objective and physical, such as the need for food, water, and shelter; or subjective and psychological, such as the need to belong to a family or social group and the need for self-esteem.

Something that is desired, wished for or aspired to. Wants are not essential for basic survival and are often shaped by culture or peer-groups. When needs and wants are backed by the ability to paythey have the potential to become economic demands. Marketing research, conducted for the purpose of new product development or product improvement, is often concerned with identifying the consumer's unmet needs.

A product orientation is based on the assumption that, all things being equal, consumers will purchase products of a superior quality.

The Goal of the 4C’s

The approach is most effective when the firm has deep insights into customers and their needs and desires derived from research and or intuition and understands consumers' quality expectations and price they are willing to pay. For example, Sony Walkman and Apple iPod were innovative product designs that addressed consumers' unmet needs.

Although the product orientation has largely been supplanted by the marketing orientation, firms practising a product orientation can still be found in haute couture and in arts marketing. Consequently, this entails simply selling existing products, using promotion and direct sales techniques to attain the highest sales possible.

A meta analyses [28] has found that the factors with the greatest impact on sales performance are a salesperson's sales related knowledge knowledge of market segments, sales presentation skills, conflict resolution, and productsdegree of adaptiveness changing behaviour based on the aforementioned knowledgerole clarity salesperson's role is to expressly to sellcognitive aptitude intelligence and work engagement motivation and interest in a sales role.

The Advantages of Marketing Orientation | kaja-net.com When it was first articulated by McCarthy init consisted of 12 parameters that were to be mixed like ingredients by a marketer. Eventually brought down to the much smaller number of 4, the framework became simpler and easier to understand but there was a lack of depth and several important elements were missed out such as the provision of services to the consumer.
Featured in MoneyWatch Adidas will market its top football clubs under one umbrella strategy for the first time By Seb Joseph August The German sportswear business wants its club teams to be the difference in the neck-and-neck battle with its American counterpart in Western Europe.
Production Concept Develop holistic performance measures Summary Innovation is a cornerstone of the Nike brand.
Advertising Nike Inc.’s Products It has a few disadvantages:
Marketing - Wikipedia This case study analyses the ever-evolving marketing strategies adopted by Nike to become a global brand.

A production orientation may be deployed when a high demand for a product or service exists, coupled with certainty that consumer tastes and preferences remain relatively constant similar to the sales orientation. The so-called production era is thought to have dominated marketing practice from the s to the s, but other theorists argue that evidence of the production orientation can still be found in some companies or industries.

Specifically Kotler and Armstrong note that the production philosophy is "one of the oldest philosophies that guides sellers Market orientation The marketing orientation is perhaps the most common orientation used in contemporary marketing.

It is a customer-centric approach that involves a firm basing its marketing program around products that suit new consumer tastes.

Three Considerations of Societal Marketing Concept

A firm in the market economy can survive by producing goods that persons are willing and able to buy. Consequently, ascertaining consumer demand is vital for a firm 's future viability and even existence as a going concern.

Start studying Marketing Chapter 1. Learn vocabulary, terms, and more with flashcards, games, and other study tools. Which of the following reflects the marketing concept philosophy? A) "We don't have a marketing department; we have a customer department." has a different approach than his marketing manager, who believes in keeping kaja-net.com  · The 30,Foot Approach This guide defines a marketing process that you can use to put structure around your daily, monthly and annual revenue-generating activities. It will help you gain a better understanding of what you should be doing, and how it fits into kaja-net.com WEB DESIGNER. TLC Marketing is looking for a talented Web Designer to create amazing user experiences and to join our TLC family. The ideal candidate should have an eye for clean, artful and responsive web design.

In this sense, a firm's marketing department is often seen as of prime importance within the functional level of an organization. Information from an organization's marketing department would be used to guide the actions of other department's within the firm. As an example, a marketing department could ascertain via marketing research that consumers desired a new type of product, or a new usage for an existing product.

The production department would then start to manufacture the product, while the marketing department would focus on the promotion, distribution, pricing, etc. Additionally, a firm's finance department would be consulted, with respect to securing appropriate funding for the development, production and promotion of the product.

Inter-departmental conflicts may occur, should a firm adhere to the marketing orientation.

The marketing concept nike approach

Production may oppose the installation, support and servicing of new capital stock, which may be needed to manufacture a new product.The marketing concept Is the Idea that to be successful the organization should focus on meeting customer needs - "The customer Is king".

A company that adopts the marketing concept is likely to adopt the following principles such as; identify customer needs, provide products at an acceptable price and stress the benefits wrought kaja-net.com://kaja-net.com This is how Nike marketing uses emotional marketing to inspire customer loyalty.

They know that while some people may identify with an external foe, all people identify with an internal one. Nike brand strategy is excellent on this end because not only is the internal kaja-net.com  · Nike ID is an online application that allows customers to design their shoe and therefore "Just do it online".

Within the literature there is no absolute agreement about the meaning of "integration" in the concept, "integrated marketing communications".

An “inside-out” approach is the traditional planning approach to marketing kaja-net.com  · Under Armour Marketing Strategy. Under Armour is a highly popular sports clothing and accessories company that currently supplies sportswear, footwear and casual apparel for customers around the kaja-net.com://kaja-net.com  · Nike is such a marketing powerhouse that many factors contribute to their success.

The Marketing Strategy of Nike | Marketing Slides

Summarizing the strengths of their marketing strategy is no easy task. Over the years, the brand has instilled an identity in consumers’ minds around specific kaja-net.com://kaja-net.com There are 5 different concepts of marketing, each of which vary in the function that they deal kaja-net.com example – production concept deals with production and selling concept deals with selling.

Each of the concept was developed as per the need of the market.

The marketing concept nike approach

As the market changed, so did the concepts of kaja-net.com://kaja-net.comingcom/concepts-of-marketing.

Holistic Marketing Explored | Branding Strategy Insider