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MARKETING RESUME
Chapter 1: Principles of marketing
Part 1: Marketing principles and practice (p3)
1.1 What is marketing?
● Marketing is a social en managerial process by which individuals and groups
obtain what they need and want through creating and exchanging products
and value with others.
(= Marketing is een sociaal en bestuurlijk proces waarbij individuen en
groepen verkrijgen wat zij nodig hebben en willen, door het creëren en
uitwisselen van producten en waarde met anderen.)
○ “Exchange” = the act of obtaining a desired object from someone by
offering something in return
■ at least two parties
■ each must hond something of value to offer
■ parties must want to deal with each other
→ Exchange creates value, gives people more consumption choices or
possibilities
○ Customer “Value” = the consumer’s assessment of the product’s
overall capacity to satisfy his or her needs ( = de beoordeling door de
consument van het algemene vermogen van het product om aan zijn of
haar behoeften te voldoen. )
■ waarde verkrijgen door bezit of gebruik van het product ⇔ de
kost (kostprijs en moeite) om het te verkrijgen !!
● Market orientation = the beating heart of marketing
○ to make organizations more profitable, when there are limited
competition, unchanging customer wants and needs…
■ understanding consumer needs even better than they do
themselves
○ Creating products that meet existing and latent needs, now or in future
( = het creëren van producten die voorzien van bestaande en
latente/verborgen behoeften, nu of in de toekomst. )
○ fundamental for survival in service firms and the source of competitive
advantage in manufacturing firms. ( = fundamenteel voor het overleven
in dienstverlenende bedrijven en de bron van concurrentievoordeel in
productiebedrijven.
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● Marketing’s intellectual roots → Marketing as a discipline has developed as a
result of the influence of its practitioners, but also developments in several
related disciplines, including the areas of industrial economics, psychology,
sociology, and anthropology, and computer science, as follows:
○ Industrial economics influences
■ Supply and demand ( = vraag en aanbod) → price, quantity
■ Theories of income distribution, scale of operation, monopoly,
competition ( = theorieën over inkomensverdeling,
schaalgrootte, monopolie, concurrentie )
○ Psychological influences ( → understanding customers’ needs)
■ Consumer behaviour, motivation research, information
processing ( = consumentengedrag, motivatieonderzoek,
informatieverwerking )
■ Persuasion, consumer personality, customer satisfaction, … ( =
overtuigingskracht, persoonlijkheid van de consument,
klanttevredenheid, ... )
○ Sociological influences
■ How groups of people behave
● How people in different social positions within society
behave (class)
● How people from similar gender and age groups behave
(demographics)
● Why we do things in the way that we do (motivation)
● General ways in which groups behave (customs), and
culture
■ How communication passes through opinion leaders
○ Anthropological influences
■ Qualitative approaches in researching consumer behaviour ( =
Kwalitatieve benaderingen van het onderzoek naar
consumentengedrag )
○ Computer science influences
■ Digitization, recommendation systems, apps, …
● The development of Marketing:
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● Differences between marketing and sales:
Marketing Sales
Tends towards long-term satisfaction of Tends toward short-term satisfaction of
customer needs; part of the design and customer needs; part of the value
development of customer value delivery process
processes
( = Streeft naar de bevrediging van de ( = Streeft naar korte termijn
behoeften van de klant op lange termijn; bevrediging van de behoeften van de
maakt deel uit van het ontwerp en de klant; maakt deel uit van het proces van
ontwikkeling van klantwaarde-proces ) waarde verschaffing )
Tends towards greater customer input Tends towards lesser customer input
into design of offering design of offering
( = neigt naar een grotere inbreng van ( = neigt naar minder inbreng van de
de klant in het ontwerp van het aanbod ) klant bij het ontwerpen van het aanbod )
Tends towards high focus on stimulation Tends towards low focus on stimulation
of demand of demand; more focused on meeting
existing demand
( = neigt naar sterke nadruk op ( = neigt naar weinig aandacht voor het
stimulering van de vraag ) stimuleren van de vraag; meer gericht
op het voldoen v/d bestaande vraag )
1.2 Application and relevance
● Marketing applies anywhere “buyers” have a choice :
○ Physical products - Services - Retail - Experiences - Events - Film,
music, theater - Places - Ideas - Charities and nonprofits - People
1.3 The marketing process
● A functional map for marketing :
“What do marketers do?” :
- The middle/ the core: insides →
They need to understand what is
going on with society, what is going on
with consumers. They need to
understand the marketplace and it’s
needs. …
- Blue/green part: technical
competencies → They need to create
customer experience. They need to
work together with partners, to create
the best value. …
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- Grey line around: behavioural competencies → They need to know something
about finances. They need to be responsible. …
● Marketing as exchange
○ marketing is a two-ways exchange process; the customer also inputs
○ For any kind of organization that have something to offer
■ Example: The university of Antwerp = organization
Students = customers
Anyone else, who has an impact on the organization
(parents, profs,… ) = stakeholders
● The university does not sell economic goods, like an
industrial organization. They offer more than just lessons
and books. They offer you value, like friends, a place to
study… The students are not just customers, they also
give value back to the university. And this all can’t work
without the stakeholders.
■ Some more examples:
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