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Practice Discipline

Marketing

Also Known As Marketing Management

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. This description is adapted from Wikipedia contributors under CC BY-SA 4.0; changes were made. https://creativecommons.org/licenses/by-sa/4.0/

Facts
Discipline Scope
Market research, product development, pricing strategy, distribution channels, promotion, customer segmentation and brand management, in both business to business and business to consumer contexts. 1
Discipline Scope
Market segmentation can be defined in terms of the STP acronym, meaning Segmentation, Targeting, and Positioning. 1
Discipline Scope
The 4 Ps, in its modern form, was first proposed in 1960 by E. Jerome McCarthy; who presented them within a managerial approach that covered analysis, consumer behavior, market research, market segmentation, and planning. 1
Connections

Associated With

Advertising Industry, Industries

Advertising is a core practice within the broader discipline of marketing.

Source Wikipedia, Advertising
Advertising Industry, Industries

Advertising is one of the primary channels through which marketing practice is executed, from creative campaigns to media buying.

Source Wikipedia, Advertising
Affiliate Marketing, Business Models

A performance-based marketing arrangement in which a business pays commission to affiliates for driving sales or traffic, a core digital-marketing practice.

Al Ries co-developed positioning theory with Jack Trout in the 1972 Advertising Age series expanded into the 1981 book Positioning, foundational to modern marketing practice.

Source Wikipedia, Al Ries
Ansoff Matrix, Management Theories

The Ansoff Matrix is a strategic planning framework used in marketing practice to evaluate growth strategies across existing and new products and markets.

Source Wikipedia, Ansoff Matrix
Dentsu Inc., Companies and Brands

Dentsu is one of the world's largest advertising and marketing communications holding companies, headquartered in Japan.

Source Dentsu (Wikipedia)
Freemium, Business Models

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.

Source Wikipedia, Freemium
Source Wikipedia, GE-McKinsey Matrix

Group buying deals, discounting a purchase once enough buyers commit, are a marketing-driven customer-acquisition tactic that trades margin for a surge in exposure and new customers.

Source Wikipedia, Growth-Share Matrix

The loyalty model is a customer-retention strategy central to marketing practice, reasoning that retaining an existing customer costs less than acquiring a new one.

Customer loyalty programs are a core marketing-practice tool for retention, using rewards to encourage repeat purchasing.

Source Wikipedia, Michael Porter

Multi-level marketing applies marketing's customer-acquisition and distribution practice through a commissioned, non-salaried sales force in place of conventional retail channels.

Source Wikipedia, Multi-Level Marketing

Pay-what-you-want pricing, letting the buyer set the price including zero, is studied within marketing practice as a strategy that trades short-term revenue for goodwill and voluntary generosity.

Source Wikipedia, PESTLE Analysis

Widely credited as the father of modern marketing management.

Source Wikipedia, Philip Kotler
Source Wikipedia, Porter's Five Forces
Source Wikipedia, Porter's Generic Strategies

The public relations industry is closely tied to marketing practice, coordinating organizational communications and reputation alongside promotional marketing efforts.

One of the world's largest advertising and marketing communications holding companies, alongside WPP a major force in global marketing practice.

Source Publicis Groupe (Wikipedia)
Retail Industry, Industries

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.

Source Wikipedia, Retail

Salesforce Marketing Cloud is a digital-marketing software platform used to execute the campaign-management and customer-engagement functions central to marketing practice.

Subscription pricing recasts marketing's customer acquisition and retention practice around recurring revenue rather than one-time sales.

Source Wikipedia, Subscription Business Model
SWOT Analysis, Management Theories

SWOT analysis's own marketing-section use case is competitor analysis: marketers use it to profile rivals' competitive strengths and weaknesses directly.

Source Wikipedia, SWOT Analysis
Source WPP plc (Wikipedia)
Sources
1. Wikipedia, Marketing
Wikipedia
  • lead section, opening definition
    Marketing is the act of acquiring, satisfying and retaining customers.
  • Marketing management orientations section
    A marketing orientation has been defined as a "philosophy of business management", "a corporate state of mind", or an "organizational culture".
  • The marketing mix section
    A marketing mix is a foundational tool used to guide decision making in marketing.
  • The 4Ps section
    The 4 Ps, in its modern form, was first proposed in 1960 by E. Jerome McCarthy; who presented them within a managerial approach that covered analysis, consumer behavior, market research, market segmentation, and planning.
  • Segmentation section
    Market segmentation can be defined in terms of the STP acronym, meaning Segmentation, Targeting, and Positioning.
View the Source
Wikipedia, Subscription Business Model
WikipediaAssociated With: Subscription Business Model, lead section
Quote, 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.
View the Source
Wikipedia, Philip Kotler
WikipediaAssociated With: Philip Kotler, Views about marketing section
Quote, 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.
View the Source
Wikipedia, Multi-Level Marketing
WikipediaAssociated With: Multi-Level Marketing, lead section
Quote, 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.
View the Source
Wikipedia, Freemium
WikipediaAssociated With: Freemium, lead section
Quote, 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.
View the Source
Wikipedia, Retail
WikipediaAssociated With: Retail Industry, lead section, retail marketing mix
Quote, 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).
View the Source
Wikipedia, SWOT Analysis
WikipediaAssociated With: SWOT Analysis, Marketing section
Quote, 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.
View the Source
Wikipedia, Advertising
Wikipedia
  • Associated With: Advertising Industry, Introduction
    Advertising is the practice and techniques employed to bring attention to a product or service.
  • Associated With: Advertising Industry
View the Source
WPP plc (Wikipedia)
Associated With: WPP plcView the Source
Publicis Groupe (Wikipedia)
Associated With: Publicis GroupeView the Source
Dentsu (Wikipedia)
Associated With: Dentsu Inc.View the Source
Wikipedia, Ansoff Matrix
WikipediaAssociated With: Ansoff MatrixView the Source
Wikipedia, Porter's Five Forces
WikipediaAssociated With: Porter's Five ForcesView the Source
Wikipedia, Porter's Generic Strategies
WikipediaAssociated With: Porter's Generic StrategiesView the Source
Wikipedia, PESTLE Analysis
WikipediaAssociated With: PESTLE AnalysisView the Source
Wikipedia, Growth-Share Matrix
WikipediaAssociated With: Growth-Share MatrixView the Source
Wikipedia, GE-McKinsey Matrix
WikipediaAssociated With: GE-McKinsey MatrixView the Source
Wikipedia, Michael Porter
WikipediaAssociated With: Michael PorterView the Source
Wikipedia, Al Ries
Associated With: Al RiesView the Source
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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