Download Setting the Scene for Marketing

CHAPTER 1
Setting the Scene for Marketing
Contents
1.1
Markets as Focal Points of Marketing
2
1.2
Development and Scope of the Marketing Concept
5
1.3
How this Book is Structured
8
Key Terms
11
References
11
Learning Objectives
In this chapter you will become familiar with:
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the characteristics of markets, different types of markets, and how markets can be
differentiated from one another
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the historic development and various facets of marketing
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the various perspectives of marketing
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the general structure and orientation of this book.
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CHAPTER 1 Setting the Scene for Marketing
Today’s markets have become increasingly difacult environments for most companies. Challenges
arise from changes in technology such as the convergence of information and communication
technology, and from intensifying globalization. In particular, developments on the technological
front and the rise of the internet have changed the customer and competitor landscape. Customers
today are much better able to search for and obtain information that helps them to make intelligent
buying decisions. Industry boundaries have become increasingly indeterminate as companies from
different industries merge or partner, or as arms combine the knowhow of multiple industries. In
this ever changing environment companies have to be smart and able to address customer needs in
a way that leads them to purchase their products and – more importantly – that satisaes customers’
genuine needs so that satisfaction and loyalty are the result. This is where marketing plays a crucial
and vital role. Marketing helps arms to understand markets and to craft offerings that contribute
to their performance. In this sense marketing is not seen as an isolated function of business but it
is the function of business (see Haeckel 1997 and Focus on Marketing 1-1 on the changing role of
marketing in this context).
But marketing is not an easy task, and good marketing is carefully planned, devised and executed.
A critical question, then, is how marketing should be designed in order to provide greatest value to
companies, customers and other important stakeholders (such as channel partners and suppliers).
This book will help you to obtain an understanding of the challenges that marketing has to master
and how marketing management can contribute to creating superior customer value.
Focus on Marketing 1-1 On the role of marketing in a changed world
The future of marketing: from monologue to dialog
Until a few years ago, marketing was a monolog. Marketers invested time, talent and money
to broadcast messages designed to correspond with each stage of a theoretical buying cycle:
awareness, research, consideration, testing, negotiation and transaction. The past two years have
witnessed the first examples of true two-way marketing ‘conversations’ between customers and
some of the world’s leading consumer brands. Driven by a confluence of innovation, competition
and big shifts in consumer behavior, the dialog between brands and their customers is replacing the
traditional marketing monolog.
1.1 Markets as Focal Points of Marketing
The term ‘marketing’ is derived from ‘market’ and ‘to market’, which highlight the great signiacance
that markets have for marketing. Two facts make this especially evident:
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CHAPTER 1 Setting the Scene for Marketing
1 markets deane the framework for marketing practiced by companies – the customers, competitors
and other stakeholders present in a market shape the scope of marketing activities to a major
extent
2 the signiacance of markets is demonstrated by the fact that within the course of their marketing
activities, companies strive to actively exert a controlled inbuence on the behavior of both
customers – or potential customers – and competitors to the beneat of the company and its
stakeholders.
We define a market as any place where supply meets demand, thus leading to the formation of
prices. Supply and demand can meet at a physical location (e.g. in a store or at a trade fair) or at a
virtual location (e.g. on the internet or by telephone).
The following stakeholders have an important inbuence on market activities:
n
buyers
n
companies
n
sales partners
n
public institutions
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lobbyists.
Buyers function as customers in the market. From the standpoint of a company, buyers are
considered customers if they buy the company’s products or have previously bought a product
from the company at least once. Buyers and customers make purchases to satisfy needs. A need
is a subjectively perceived deaciency or lack that the buyer wants to remedy (see also ‘customer
needs’ in the Appendix). Examples include basic human needs such as food, clothing and
educational requirements. Within the context of a broader understanding of the concept, the
term ‘need’ can extend to deaciencies that the buyer has not (yet) perceived, often referred to as
latent needs.
Not to be confused with a need is demand, which results from a need. Demands are objectively
quantiaable and are addressed by a customer buying the corresponding product. Demand is thus
associated with the willingness to pay to fulall a need. Buyers tend to cover their demand with those
products or services that can best satisfy their needs and thus offer the greatest beneats (customer
beneats).
An important differentiation with regard to marketing is the distinction of buyers into end
customers (i.e. individuals) and organizational customers (e.g. business-to-business and corporate
customers) or public institutions. Marketing that is oriented towards individual end customers is
often referred to as consumer goods marketing. Typical products exchanged in consumer goods
markets are entertainment products such as MP3 players or DVDs, food and beverages, holiday
packages, clothing and cars. Marketing directed at organizational customers is called business-tobusiness marketing (B2B marketing) (for more on this distinction, see Chapter 10). Products that
are being exchanged in business-to-business markets include beet cars, oface supplies, raw materials,
production facilities and energy. Public institutions can be governmental agencies or non-proat
organizations such as charities or academic institutions.
Companies compete in the market with their products (physical products and services) to win the
favor of the buyers. A company therefore has to identify and monitor other companies already
active in the relevant market (current competitors) as well as possible future companies (potential
competitors). Companies strive to sell their products as successfully as possible, in order to secure
the proatability and sustainability of the company in the long term (for a detailed discussion of
the various company objectives, please see Chapter 2). To realize this objective, companies deploy
different marketing strategies and marketing instruments.
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CHAPTER 1 Setting the Scene for Marketing
When selling their products to buyers, companies often cooperate with sales partners, e.g.
intermediaries or brokers (see Chapter 7). Sales partners play an important role in the market
environment and particularly in the success of a company. Accordingly, crucial to the success
of a company is the challenge of selecting suitable sales partners and cooperating with them in
long-term business relationships.
As stakeholders, public institutions (in addition to their potential role as buyers or suppliers of
products) also exert a regulatory inbuence on the market environment. For instance, the government
issues and enacts legal regulations and enforces compliance with them. Examples of this include
legal requirements regarding the design and content of advertising and promotional activities. Along
with general regulations, industry-speciac regulations also have to be mentioned here. For example,
marketing by pharmaceutical companies is usually very strictly regulated (e.g. with respect to
reimbursement for pharmaceutical products).
Besides the various stakeholders, the different types of markets are also of interest. Markets can, for
example, be classiaed according to the following criteria.
n
n
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ClassiAcation by types of goods sold – we distinguish markets for consumer goods, business-tobusiness goods as well as services: consumer goods are primarily intended to satisfy the needs
of private end customers. Industrial and business-to-business goods are sold to organizations
(e.g. companies, associations, public administrative ofaces) (for more about the marketing of
business-to-business goods, see Chapter 10). Services refer to economic exchange activities
that create essentially non-physical output (see Section 11.1 for a deanition and Chapter 11
for a general discussion of services marketing).
ClassiAcation by degree of internationality – we distinguish local markets, regional markets,
international markets and global markets. The speciac characteristics of international marketing
are discussed in Chapter 12.
ClassiAcation by distribution of power between buyers and companies – here we distinguish
buyers’ markets and sellers’ markets: in contrast to sellers’ markets, buyers’ markets are
characterized by a dominance of the demand side over the supply side. This constellation can
result from an oversupply or lack of demand and will force the companies to become more
customer-oriented. Today, most markets in industrialized and developed economies tend to
exhibit features of buyers’ markets.
From a company perspective, it is important to deane at which markets (and thus at which
customers and competitors) the marketing strategy and activities should be aimed. This is called
the market definition. Market deanition describes the structuring of a market, and deanes the
relevant market area.
Various criteria can be taken on board when deaning the relevant market, including the following:
n
n
n
n
companies – deanition of the market based on groups of companies, for example, arms in a
certain industry or economic sector (e.g. the ‘chemicals market’ as a market served by chemicals
companies)
products – deanition of the market based on certain products or product lines (e.g. ‘market for
long-distance travel’)
buyers – deanition of the market based on certain buyers or groups of buyers (e.g. ‘market for
price-sensitive students’)
needs – deanition of the market based on certain needs or need categories on the part of the
buyers (e.g. ‘market for leisure time recreation and entertainment’).
In business practice, several of these categories are often combined when deaning the market.
This book embraces the view that markets should, arst and foremost, be deaned based on
buyers and their needs. A market deanition that centers exclusively on products can be
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CHAPTER 1 Setting the Scene for Marketing
Needs
Adventure
Cultural education
Company
2
Culinary enjoyment
Company
1
Physical fitness
Social contact/socializing
lim Fam
ite ilie
d
bu s wi
dg th
ets
lim Cou
ite ple
d
bu s wi
dg th
ets
lim Sin
ite gle
d
bu s wi
dg th
W
ets
ea
lth
ys
ing
les
W
ea
lth
yc
ou
ple
W
s
ea
lth
yf
am
ilie
s
Recreation/relaxation
Company
3
Buyer
Figure 1-1 Market definition using the example of three companies in the tourism sector
problematic if the products fulall needs that can also be met by other types of products. If, for
example, a anancial services provider speaks of a ‘market for life insurance’ as well as a ‘market for
equity funds’, it is obvious that a problem can arise, since in part, both products aim at meeting
the same customer need (retirement savings and pension funds). Another problem associated
with a solely product-oriented market deanition is that it can lead to a market perspective that is
too narrow in scope. A well-known example of this is the company failures of American railroad
companies (see Levitt 1960). The railroad companies had based their market deanition on the
‘market for railroad services’ (product-based deanition) and not on the underlying customer need
(mobility). The consequence of this myopic product-oriented market deanition was that new
competitors such as bus companies and airlines, which in some cases could better meet the same
need for mobility, were totally ignored (see also Section 2.1 for the issue of ‘myopia’ (Levitt 1960) in
deaning the business mission). Figure 1-1 shows an example of market deanitions based on needs
and buyers.
1.2 Development and Scope of the Marketing Concept
After discussing the market in Section 1.1 as the focal point for describing marketing, we will
examine the concept of marketing in this section. First, however, we will take a look at the
historical development of the concept.
Marketing activities such as the development of new products or pricing decisions have certainly
been playing a role in market transactions for several centuries (see Dixon 1981). However, since
the systematic investigation of marketing on the basis of scientiac considerations did not start until
the beginning of the twentieth century, we will be limiting our discussion to this time span (for an
in-depth examination of the historical development of marketing, see Bartels 1951; Fullerton 1988;
Jones and Monieson 1990; Mason 1995; Webster 1992; Zinkhan and Pereira 1994).
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Relationship
marketing
Market-orientated
management
CHAPTER 1 Setting the Scene for Marketing
Marketing
implementation
Marketing
implementation
Marketing mix
Marketing mix
Marketing mix
Product
decisions
Product
decisions
Product
decisions
Pricing
decisions
Pricing
decisions
Pricing
decisions
Advertising
Communication
decisions
Communication
decisions
Communication
decisions
Sales
Sales
Sales
decisions
Sales
decisions
Sales
decisions
c.1900 –1920
c.1920 –1950
c.1950 –1980
c.1980 –1990
Starting c.1990
Figure 1-2 Historical development of the marketing concept
In general, the deanition of marketing has become signiacantly broader over the course of time
(see Figure 1-2). The early phase of marketing’s development was characterized by the idea that it
was very much associated with sales. The primary focus here was the task of selling the company’s
products in the market. At the beginning of the twentieth century, this concept of marketing was
communicated in marketing courses at universities (for an overview, see Bartels 1951) and in the
arst marketing publications (see Nystrom 1915; Shaw 1912; Weld 1916). This limited conceptual
approach was particularly due to the fact that at that time most markets tended to be sellers’ markets
(see Section 1.1). In many companies, the marketing function was thus considered less important
than other functions within the company (e.g. production).
In the period that followed, the sales concept of marketing was expanded to include the aspect of
advertising. Starting in the 1920s, the principles of marketing were deaned in textbooks and monographs
in the USA, with a strong focus placed on sales and advertising (see Hotchkiss 1940; Maynard et al.
1927; Vaile and Slagsvold 1929). In the 1930s and 1940s, the concept of marketing was developed
further to only a limited degree as a result of the worldwide economic crisis and the Second World War.
The renewed growth of the world economy in the 1950s and 1960s provided a new impulse for the
development of the marketing concept. During that time, the so-called marketing mix was deaned
(see McCarthy 1964; McKitterick 1957), which integrated the existing concept of marketing as
advertising and sales into a broader system of classifying marketing activities – today commonly
referred to as the ‘four Ps’:
1 product decisions (Product)
2 pricing decisions (Price)
3 communication decisions (Promotion), and
4 distribution decisions (Place).
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CHAPTER 1 Setting the Scene for Marketing
This expanded concept of marketing still remains relevant today (see van Waterschoot and van den
Bulte 1992).
In recent years the discipline has witnessed a shift to issues addressing marketing implementation
(e.g. company-internal organizational issues, performance/success benchmarking and monitoring).
The growing attention paid to these implementation issues called for a more multi-disciplinary
viewpoint combining marketing with other business disciplines such as organizational behavior or
anance (for an overview, see Workman et al. 1998).
This implementation perspective focuses predominantly on those departments or units of the
company that are involved in marketing tasks. Contrasting with this, a new approach addresses the
question of to what extent a company should be managed as a market-oriented organization. The
concept of marketing as market-oriented management had already been articulated and discussed
in the 1980s. However, a more intensive analysis of this topic was not conducted until the 1990s (see
Becker and Homburg 1999; Homburg and Pbesser 2000; Jaworski and Kohli 1993). Aspects related
to market-oriented management will be discussed in Part 4 of this book.
Parallel to the emphasis on market-oriented management, customer relationships increasingly
gained more importance and attention from both marketing practice and theory. The basis of this
perspective is the awareness that the establishment and sustainability of (proatable) long-term
customer relationships pose a central challenge to marketing. The term relationship marketing
is also used in this context (for further discussion of the development of relationship marketing,
see Berry 1983; Grönroos 1990, 1995). The main implication of this approach (both in terms of
research and company practice) is that the frequently observed focus on individual transactions
with customers is replaced by a focus on long-term business relationships.
Against the background of the development just described, various approaches to deaning marketing
have emerged (for an overview, see Cooke et al. 1992). There are basically three approaches here.
1 Activity-oriented deAnitions characterize marketing as a bundle of market-driven activities
practiced by companies focusing on the creation and delivery of value to customers, and the
management of customer relationships. Activity-oriented deanitions of marketing are thus
closely connected to the concept of the marketing mix.
2 In contrast, relationship-oriented deAnitions are rooted in the logic of relationship marketing.
Here the objective of marketing is to establish, maintain and strengthen relationships with
customers. For example, Grönroos (1990, p. 5) deanes marketing as follows: ‘Marketing is to
establish, maintain, enhance and commercialize customer relationships (often but not necessarily
always long term relationships) so that the objectives of the parties involved are met. This is done
by a mutual exchange and fulallment of promises.’ One objection to be mentioned here is that the
formation of long-term customer relationships is not necessarily a marketing objective for every
company. It is certainly possible for a company to concentrate on realizing isolated transactions
with occasional customers without ever investing in long-term relationships.
3 A third approach is established by management-oriented deAnitions of marketing, which focus
on managing the company from a market perspective. They particularly concern the degree to
which the company’s decisions are guided by market-oriented considerations (see also Part 4).
From our viewpoint, the main contribution of this approach is that it introduces the issue of
the company’s internal situational factors for market-related activities. This creates the basis for
incorporating aspects of market implementation and market-oriented management within the
scope of marketing.
Along these lines, it should be noted that these three approaches to deaning marketing are
complementary: each deanition covers an important aspect of marketing. In view of this background,
we formulate the following integrative definition of marketing: ‘Marketing has a company-external
and company-internal facet.’
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CHAPTER 1 Setting the Scene for Marketing
n
n
n
With regard to the company-external aspects, marketing comprises the conception and
implementation of the market-related activities that are practiced by a company and geared
towards buyers or potential buyers of its products (physical products and/or services). Such
market-related activities include the systematic acquisition of information about market
conditions as well as the design of the product portfolio, pricing, communication and sales.
In terms of the company-internal aspects, marketing refers to creating the necessary
prerequisites and conditions within the company in order to facilitate the effective and efacient
implementation of the market-related activities. In particular, this includes the management of
the entire company in line with the concept of market orientation.
Both the external and internal approaches to marketing aim at designing and structuring
customer relationships so that company objectives can be achieved.
We would like to point out that this deanition integrates both the external (market-oriented)
activities of a company as well as the creation of the internal conditions necessary to achieve
market success. With respect to internal conditions, in addition to company-wide market-oriented
management, this also includes, for example, the design and structure of the marketing organization
and marketing control (see Part 4 of this book for a perspective on implementation). Moreover, it
is important to emphasize that we are not implying that the establishment of long-term customer
relationships inevitably has to be the key marketing objective. Instead, we are stressing the need to
design and structure customer relationships in order to best support the achievement of company
objectives such as improving proatability, increasing market share, and the long-term sustainability
of the company’s competitive advantage. In practice, this objective can be pursued when companies
focus on long-term relationships with high-potential customers. However, there are also conceivable
situations, for example, in which investments in long-term customer relationships do not prove
economically viable (for a related discussion, see Chapter 9).
1.3 How this Book is Structured
The book is structured in four parts (see Figure 1-3):
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Part 1 discusses the strategic perspective of the company (Chapters 2, 3 and 4)
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Part 2 pertains to the marketing mix instruments (Chapters 5, 6, 7, 8 and 9)
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Part 3 focuses on marketing in speciac contexts (Chapters 10, 11 and 12)
n
Part 4 investigates aspects of marketing implementation (Chapters 13, 14, 15 and 16) and
concludes with a discussion of issues of market-oriented management (Chapter 17).
In Part 1 we will discuss the basic and long-term alignment of the company’s market development
– the strategic perspective of the company. Strategic decisions are usually crucial for the success of
a company. Their revision requires major effort and is associated with high risk. The formulation
of marketing strategies must also be based on a systematic and thorough analysis of the company
environment.
In this part, we will arst describe the basic concepts with regard to understanding the marketing strategy,
and the impact that these concepts have on success (see Chapter 2). This will be followed by a
discussion of the key aspects, tools and models related to the analysis of the initial strategic situation
(see Chapter 3). This strategic analysis represents the arst step in the strategic planning process,
with the analysis particularly focusing on the global company environment, the market (customers
and competitors) as well as the company itself. Finally, the formulation, evaluation and selection of
alternative strategies will be dealt with as further steps in the strategic planning process (see Chapter 4).
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CHAPTER 1 Setting the Scene for Marketing
Marketing management
Part 1
Marketing
strategy
Part 2
Marketing
mix
Part 3
Marketing
in specific
contexts
Part 4
Marketing
implementation and
market-oriented
management
APPENDIX: Theories and Techniques
Figure 1-3 Structure of the book
The marketing strategy is implemented by systematically deploying the marketing instruments,
which are described in the context of the marketing mix in Part 2 of the book. In designing the
marketing mix, the marketing strategy is translated into concrete activities.
The marketing mix comprises the following four components.
1 Product decisions (see Chapter 5): concerned with all decisions related to the current and future
product range. Here we will discuss decisions regarding product innovations as well as products
that are already established in the market, including branding.
2 Pricing decisions (see Chapter 6) deal with all decisions concerning the price that customers have
to pay for a product. To facilitate the understanding of the relevant decisions we will discuss
classic pricing theory as well as behavioral pricing.
3 Sales decisions (see Chapter 7) cover decisions about acquisition activities aimed at the
marketplace and decisions related to distribution logistics. Acquisition activities are geared
towards acquiring new customers and generating sales. Distribution logistics focus on the
structure and design of the physical distribution of goods.
4 Communication decisions (see Chapter 8) concern all decisions regarding the company’s
communication in the market. The company can use various tools to communicate including, for
example, media advertising or online marketing.
In the chapter on the role of customer relationship management in the marketing mix (see
Chapter 9) the focus is on the two most relevant issues in customer relationship management:
customer satisfaction and customer loyalty. We propose a range of tools for customer
relationship management within the individual marketing instruments discussed in
Part 2 that can help to establish customer satisfaction and loyalty.
Part 3 of the book will deal with marketing in specific contexts. These contexts are determined by
the activities of a company in a specific economic sector or by the internationality of the marketing
activities. We will differentiate between three contexts, describing the special requirements each has
in terms of marketing:
1 Chapter 10 will explain business-to-business marketing
2 in Chapter 11, services marketing will be addressed arst; we will also elaborate on the speciac
characteristics of retail marketing
3 anally, Chapter 12 will present a discussion of international marketing.
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CHAPTER 1 Setting the Scene for Marketing
In contrast to the previous chapters, Part 4 of the book deals with the company-internal conditions,
i.e. the second facet of our marketing deanition (see Section 1.2). This implementation-related
perspective primarily addresses those company departments that support marketing tasks:
n
Chapter 13 will address aspects of the marketing and sales organization
n
information systems in marketing and sales will be discussed in Chapter 14
n
subsequently, Chapter 15 will attend to marketing and sales management control
n
human resource management in marketing and sales will be examined in Chapter 16.
Following on from this, in Chapter 17 the book will concentrate on market-oriented management,
focusing not only on the company departments that primarily attend to marketing tasks, but also on
the market-oriented management of the company as a whole.
The book concludes with an Appendix that includes information on theories and techniques.
This Appendix serves as an additional source of information on theories and marketing research
techniques that are not covered in greater depth in the book itself.
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CHAPTER 1 Setting the Scene for Marketing
Key Terms
Business-to-business marketing 3, 9
Buyers 3
Companies 3
Consumer goods marketing 3
Customer relationship management 9
Customers 3
Define a market 3
Demand 3
Human resource management 10
Implementation-related perspective 10
Information systems 10
Integrative definition of marketing 7
International marketing 9
Market definition 4
Marketing and sales management control 10
Marketing and sales organization 10
Marketing implementation 7
Marketing mix 6, 9
Market-oriented management 7, 10
Need 3
Relationship marketing 7
Sales and advertising 6
Sales partners 4
Services marketing 9
Strategic perspective 8
Types of market 4
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