TOPIC 2: MARKETING
Role of Marketing
• strategic role of marketing goods and services
• interdependence with other key business functions
• production, selling, marketing approaches
• types of markets – resource, industrial, intermediate, consumer, mass, niche
• interdependence with other key business functions
• production, selling, marketing approaches
• types of markets – resource, industrial, intermediate, consumer, mass, niche
Strategic role
Source: Chapman et al (2011), Business Studies in Action, 4th edition, John Wiley & Sons, Milton Qld, pp.131-2
Interdependence with other key business functions
TASK: Draw a diagram demonstrating the links Marketing has with other KBFs. Include:
- Operations needing to work with Marketing to incorporate product features
- Human Resources working with Marketing for staffing requirements
- Finance needing to work with Marketing to fund and changes in marketing strategies (eg to incorporate changes to product features) and to advise of any products not generating enough sales and/or not priced correctly
Production, selling, marketing approaches
- A summary can be found in the article with the commonly used term for these approaches, Marketing Orientation.
- For more in depth information read pp.12-13 of this sample chapter from Marketing in the 21st Century
Types of markets
TASK:
- Complete the Role of Marketing Worksheet (page 1 only).
- Read the article, Niche versus mass market: big just isn't better at the cinema from Mumbrella. Advise a local small cinema such as Hornsby Odeon Cinema on the strengths of operating in a niche market and the approach they should take to marketing. Write in a business report style. Aim for 1000 words.