Marketing Management Concepts

Coordinated marketing practices used by organizations to reach their goals. It involves studying audiences, creating offers, and disseminating them.

Exchanges that create value for all stakeholders (individuals, organizations, institutions).

Methods used responsibly to achieve marketing objectives.

Individuals or groups affected by a company's activities: customers, suppliers, employees, investors, etc.

Understanding the needs, desires, and aspirations of different target groups.

Developing products, services or experiences that fulfil audience needs.

Marketing actions that take into account their consequences on all stakeholders and society.

Marketing initiatives can apply in contexts beyond traditional buying and selling, such as social-good causes or educational drives.

The external factors related to the environment that affect marketing.

An environmental problem causing changes in global temperatures.

The loss of plant and animal species.

International goals to solve complex global issues.

Rules & standards at international and national levels.

International agreement to limit climate change.

Limited availability of essential resources.

Factors related to people and society influencing businesses.

Poverty issues experienced globally.

People forced to leave their homes due to climate change.

The process of generating worth for customers, stakeholders, and society through products, services, or experiences.

The inherent worth of an offering based on its features, quality, and cost, as determined by the company.

The value assigned to an offering by customers based on their individual needs, preferences, and experiences.

The perceived worth of an offering before a customer makes a purchase or subscribes.

The perceived worth of an offering after a customer has acquired it or subscribed, taking into account their actual experiences.

The fundamental functionality and performance of an offering that fulfills its core purpose.

The additional services and support provided alongside a core product that enhance its value.

The intangible value associated with a brand, including its reputation, image, and customer loyalty.

Value created for both the organization and the consumer throughout the product's entire lifecycle, encompassing social and environmental considerations.

The benefits an organization receives from offering a product or service, including profits, brand reputation, and market share.

The benefits a consumer receives from using a product or service, including satisfaction, convenience, and functionality.

The value created during the initial stages of a product's lifecycle, including raw material extraction, production, and supply chain management.

The value created while a product is being used, including features, performance, and durability.

The value created after a product's useful life, including recycling, reuse, and waste management.

The positive or negative impacts a product or service has on society, such as job creation, community development, or social conflicts.

The positive or negative impacts a product or service has on the environment, such as pollution, resource depletion, or sustainable practices.

A strategy where social and environmental issues are fully incorporated into every aspect of a company, including its brand, offers, and business model.

A strategy where social and environmental issues are strategically integrated into a company's offerings and operations, leading to potential changes in its business model.

A strategy where social and environmental issues are minimally integrated, primarily through communication and branding efforts, with limited impact on the business model.

A company's stance where it prioritizes legal compliance and views social and environmental issues as threats, limiting its engagement.

A framework for defining the scope of a company's focus, either by considering the market as a whole or focusing on specific products or services.

The process of analyzing a company's internal strengths and weaknesses and external factors such as market trends, competitors, and social/environmental challenges.

Establishing business goals that encompass economic, environmental, and social considerations.

Aligning economic, environmental, and social objectives with a company's brand identity, mission, and reason for being.

A product or service that solves an environmental or social problem by addressing its root cause and offering a sustainable solution.

Modifying an existing product to reduce its environmental impact while maintaining its original purpose and user experience.

Encourages consumers to change their habits or behaviors to reduce environmental impact. This is done by providing incentives or educating consumers on sustainable alternatives.

Enhancing the value of a product or service beyond its core function. This might involve offering additional features, services, or experiences to improve the customer experience.

Developing new products or services that meet consumer needs while minimizing environmental and social impacts.

The way consumers interact with and use products or services. This includes their purchasing decisions, consumption patterns, and disposal practices.

The environmental and social consequences of producing, using, and disposing of a product or service. This can include resource depletion, pollution, and social injustice.

The overall feeling and satisfaction that a consumer has when interacting with a product or service. This includes aspects like usability, aesthetics, and emotional connection.

A world facing limited resources, environmental challenges, and social issues that impact businesses.

A lack of sufficient energy resources to meet global demand.

The exhaustion of valuable minerals like copper, iron, and lithium.

Standards for responsible business practices and environmental management.

Critics argue that marketing prioritizes company profits over consumer well-being. It's seen as manipulating desires, selling overpriced products, and exploiting cultural works for commercial gain.

Advocates believe in marketing's ability to contribute positively to society. They see it as making products accessible, promoting inclusion, generating enriching experiences, ensuring quality, and proposing solutions for global challenges like climate change.

A perspective that criticizes marketing's intrusive nature, its promotion of unnecessary purchases and waste, lack of authenticity, and contribution to environmental degradation.

This view highlights the negative impacts of marketing on individuals. It includes a sense of being stalked, pressured into buying, and feeling that messages are not genuine or credible.

Critics argue that marketing prioritizes short-term profits over long-term consumer well-being. They see it as manipulating desires, selling overpriced products, and exploiting cultural works for commercial gain.

Advocates believe in marketing's ability to contribute positively to society. They see it as making products accessible, promoting inclusion, generating enriching experiences, ensuring quality, and proposing solutions for global challenges like climate change.

Antimarketing criticizes the intrusiveness of marketing, its promotion of unnecessary purchases and waste, lack of authenticity, and contribution to environmental degradation.

This view highlights the negative impacts of marketing on individuals. It includes a sense of being stalked, pressured into buying, and feeling that messages are not genuine or credible.

Designing products with a focus on reducing their environmental impact throughout their lifecycle.

Designing products to address social issues and promote positive social impacts.

Services where the customer pays for using a product, but doesn't own it. Examples include car sharing, tool rental, and financial leasing.

Services where the provider guarantees a specific outcome or result for the customer. The provider delivers the desired result, not the product itself.

The evolution of a business model from selling products to providing services. This involves focusing on delivering value through service offerings.

The integrated system that combines a product with related services to deliver a complete solution. This system optimizes resource use to achieve the desired result.

Services that focus on delivering a desired function or outcome for the customer. They are often result-oriented and prioritize efficiency and sustainability.

A strategic planning tool that combines the traditional SWOT (Strengths, Weaknesses, Opportunities, Threats) analysis with an assessment of the environmental and social impacts of a business.

Factors outside of a company's direct control that influence its market, such as demographics, economic conditions, and political regulations.

Factors within a company's immediate market that it can influence, such as competitors, distributors, and consumers.

The effects of a business's operations on the environment, such as pollution, resource depletion, and climate change.

The effects of a business's operations on society, such as human rights, working conditions, and community development.

Favorable external factors that could benefit a business, such as emerging markets or technological advancements.

Unfavorable external factors that could harm a business, such as economic downturns or regulatory changes.

Services designed to extend the life cycle of a product, including maintenance, repairs, upgrades, and advice for optimal use.

Services focused on delivering a specific outcome or function rather than a tangible product. This involves providing the desired result as a service, not the means to achieve it.

Servicization offers several advantages, including meeting customer needs with a mix of products and services, promoting sustainability through reduced resource use, and enhancing customer satisfaction by providing holistic solutions.

The three main types of Servicization innovations are: 1. Product-oriented services, 2. Usage-oriented services, and 3. Result-oriented services (functional economy).

Servicization benefits consumers by providing access to a range of solutions that meet their needs with lower environmental impact, often at a lower cost or through more flexible usage models.

Servicization is innovative because it shifts the focus from selling products to delivering value through integrated product-service systems, addressing evolving consumer needs and contributing to a more sustainable future.