Practice Disciplines
Marketing
Also Known As Marketing Management
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The practice discipline of acquiring, satisfying and retaining customers through the creation, communication and delivery of value, covering market research, product development, pricing, distribution, promotion and brand management.
Facts
Discipline ScopeMarket research, product development, pricing strategy, distribution channels, promotion, customer segmentation and brand management, in both business to business and business to consumer contexts. 1 Cross-Tradition Connections
Associated With
Freemium pricing is a marketing-led acquisition strategy: a free tier draws users in, and marketing practice then converts a share of them to a paid tier.
Multi-level marketing applies marketing's customer-acquisition and distribution practice through a commissioned, non-salaried sales force in place of conventional retail channels.
Widely credited as the father of modern marketing management.
Retail's own day-to-day operating decisions are organized through the retail marketing mix, marketing practice's own six-Ps framework applied directly to the store and the shelf.
Subscription pricing recasts marketing's customer acquisition and retention practice around recurring revenue rather than one-time sales.
SWOT analysis's own marketing-section use case is competitor analysis: marketers use it to profile rivals' competitive strengths and weaknesses directly.
Sources
1. Wikipedia, Marketing
Wikipedialead section, opening definitionQuote, lead section, opening definition
Marketing is the act of acquiring, satisfying and retaining customers.
Wikipedia, Subscription Business Model
WikipediaAssociated With: Subscription Business Model, lead sectionQuote, Associated With: Subscription Business Model, lead section
The subscription business model is a business model in which a customer must pay a recurring price at regular intervals for access to a product or service.
Wikipedia, Philip Kotler
WikipediaAssociated With: Philip Kotler, Views about marketing sectionQuote, Associated With: Philip Kotler, Views about marketing section
he has done more than any other writer or scholar to promote the importance of marketing, transforming it from a peripheral activity, bolted on to the more "important" work of production.
Wikipedia, Multi-Level Marketing
WikipediaAssociated With: Multi-Level Marketing, lead sectionQuote, Associated With: Multi-Level Marketing, lead section
Multi-level marketing (MLM), also called network marketing or pyramid selling, is a controversial and sometimes illegal marketing strategy for the sale of products or services.
Wikipedia, Freemium
WikipediaAssociated With: Freemium, lead sectionQuote, Associated With: Freemium, lead section
a basic product or service is provided free of charge, but money (a premium) is charged for additional features, services and virtual or physical goods that expand the functionality of the free version.
Wikipedia, Retail
WikipediaAssociated With: Retail Industry, lead section, retail marketing mixQuote, Associated With: Retail Industry, lead section, retail marketing mix
Day-to-day decisions are often described using the retail marketing mix, commonly summarized as six "Ps": product, place, promotion, price, personnel, and presentation (physical evidence).
Wikipedia, SWOT Analysis
WikipediaAssociated With: SWOT Analysis, Marketing sectionQuote, Associated With: SWOT Analysis, Marketing section
In competitor analysis, marketers can use SWOT analysis to detail and profile the competitive strengths and weaknesses of each competitor in the market.
Frequently Asked Questions
What is the difference between the marketing concept and the societal marketing concept?
The societal marketing concept adds broader social responsibility to the customer-centric marketing concept.
The marketing concept centers on identifying and satisfying customer needs profitably. The societal marketing concept adds a further obligation: that marketing serve the wider social good, not customer profit alone.
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