text:
Extended-hours trading
From Wikipedia, the free encyclopedia
Jump to: navigation, search
Not to be confused with Late trading.
Extended-hours trading is stock trading that happens either before or after the normal trading hours of a stock exchange, i.e., pre-market trading or after-hours trading.
After-hours trading is the name for buying and selling of securities when the major markets are closed. [1] Since 1985, the regular trading hours for major exchanges in the United States, such as the New York Stock Exchange and the Nasdaq Stock Market, have been from 9:30 a.m. to 4:00 p.m. Eastern Time (ET).[2] Pre-market trading occurs from 4:00 a.m. to 9:30 a.m. ET, although the majority of the volume and liquidity come to the pre-market at 8:00AM ET.[3][4] After-hours trading on a day with a normal session occurs from 4:00 p.m. to 8:00 p.m. ET.[4] Market makers and specialists generally do not participate in after hours trading, which can limit liquidity.[5]
Example chart of extended hours trading, via Google Finance
Trading outside regular hours is not a new phenomenon but used to be limited to high-net-worth investors and institutional investors like mutual funds.[6] The emergence of private trading systems, known as electronic communication networks (ECNs), has allowed individual investors to participate in after-hours trading.
Financial Industry Regulatory Authority (FINRA) members who voluntarily enter quotations during the after-hours session are required to comply with all applicable limit order protection and display rules (e.g., the Manning Rule and the U.S. Securities and Exchange Commission order handling rules).[7]
See also[edit]
List of market opening times
List of stock exchanges
References[edit]
Jump up ^ Sulthan, .A (2017). Stock Market Dictionary (1 ed.). Sulthan Academy. p. 229. ISBN 1522022864.
Jump up ^ "About Us: History". NYSE. Retrieved 2007-04-11.
Jump up ^ "Pre-Market Trading". Investors Underground. Retrieved 11 November 2016.
^ Jump up to: a b "Nasdaq Trading Schedule". NASDAQ. Retrieved 2011-08-02.
Jump up ^ "After Hours Trading". Investors Underground. Retrieved 11 November 2016.
Jump up ^ "SEC.gov". United States Securities and Exchange Commission.
Jump up ^ Barclay, Michael J. (2003). "Price Discovery and Trading After Hours". University of California, Berkeley.
External links[edit]
"Trade After-Hours". Invest FAQ.
[hide]
v
t
e
Financial markets
Types of markets
Primary market
Secondary market
Third market
Fourth market
Types of stocks
Common stock
Golden share
Preferred stock
Restricted stock
Tracking stock
Share capital
Authorised capital
Issued shares
Shares outstanding
Treasury stock
Participants
Broker-dealer
Day trader
Floor broker
Floor trader
Investor
Market maker
Proprietary trader
Quantitative analyst
Regulator
Stock trader
Exchanges
Electronic communication network
List of stock exchanges
Trading hours
Multilateral trading facility
Over-the-counter
Stock valuation
Alpha
Arbitrage pricing theory
Beta
Bid–ask spread
Book value
Capital asset pricing model
Capital market line
Dividend discount model
Dividend yield
Earnings per share
Earnings yield
Net asset value
Security characteristic line
Security market line
T-model
Trading theories
and strategies
Algorithmic trading
Buy and hold
Contrarian investing
Day trading
Dollar cost averaging
Efficient-market hypothesis
Fundamental analysis
Growth stock
Market timing
Modern portfolio theory
Momentum investing
Mosaic theory
Pairs trade
Post-modern portfolio theory
Random walk hypothesis
Sector rotation
Style investing
Swing trading
Technical analysis
Trend following
Value investing
Related terms
Block trade
Cross listing
Dark pool
Dividend
Dual-listed company
DuPont analysis
Efficient frontier
Flight-to-quality
Haircut
Initial public offering
Long
Margin
Market anomaly
Market capitalization
Market depth
Market manipulation
Market trend
Mean reversion
Momentum
Open outcry
Position
Public float
Public offering
Rally
Returns-based style analysis
Reverse stock split
Share repurchase
Short selling
Slippage
Speculation
Stock dilution
Stock market index
Stock split
Trade
Uptick rule
Volatility
Voting interest
Yield
This article incorporates public domain material from the United States Government document "https://www.sec.gov/investor/pubs/afterhours.htm".
This economics-related article is a stub. You can help Wikipedia by expanding it.
v
t
e
Retrieved from "https://en.wikipedia.org/w/index.php?title=Extended-hours_trading&oldid=831271358"
Categories:
Share trading
Economics and finance stubs
Hidden categories:
Wikipedia articles incorporating text from public domain works of the United States Government
All stub articles
Navigation menu
Personal tools
Not logged in
Talk
Contributions
Create account
Log in
Namespaces
Article
Talk
Variants
Views
Read
Edit
View history
More
Search
Navigation
Main page
Contents
Featured content
Current events
Random article
Donate to Wikipedia
Wikipedia store
Interaction
Help
About Wikipedia
Community portal
Recent changes
Contact page
Tools
What links here
Related changes
Upload file
Special pages
Permanent link
Page information
Wikidata item
Cite this page
Print/export
Create a book
Download as PDF
Printable version
Languages
Italiano
Edit links
This page was last edited on 19 March 2018, at 18:35.
Text is available under the Creative Commons Attribution-ShareAlike License; additional terms may apply. By using this site, you agree to the Terms of Use and Privacy Policy. Wikipedia® is a registered trademark of the Wikimedia Foundation, Inc., a non-profit organization.
Privacy policy
About Wikipedia
Disclaimers
Contact Wikipedia
Developers
Cookie statement
Mobile view
Enable previews

value: mw-page-base noprint

value: mw-head-base noprint

value: firstHeading firstHeading en

value: siteSub noprint

value: jump-to-nav mw-jump

value:
note
hatnote navigation-not-searchable

value:
/wiki/Stock_trading
mw-redirect
Stock trading

tag: p

tag: sup

value:
/wiki/List_of_market_opening_times
mw-redirect
List of market opening times

value:
reflist mw-references-wrap
list-style-type: decimal;

value: Template talk:Financial markets navigation

value: nowraplinks hlist collapsible autocollapse navbox-inner

value: Copyright status of work by the U.S. government

value:
/wiki/United_States_Government
mw-redirect
United States Government

value: position: absolute; right: 15px; display: none;

value:
metadata plainlinks stub
presentation
background:transparent

value: Category:Wikipedia articles incorporating text from public domain works of the United States Government

value: Discussion about edits from this IP address [ctrl-alt-n]

value: A list of edits made from this IP address [ctrl-alt-y]

value: You are encouraged to create an account and log in; however, it is not mandatory

value: You're encouraged to log in; however, it's not mandatory. [ctrl-alt-o]

value:
/wiki/Extended-hours_trading
View the content page [ctrl-alt-c]
c

value: Discussion about the content page [ctrl-alt-t]

value: p-namespaces navigation vectorTabs p-namespaces-label

value:
p-variants
navigation
vectorMenu emptyPortlet
p-variants-label

value: Past revisions of this page [ctrl-alt-h]

value: p-views navigation vectorTabs p-views-label

value:
p-cactions
navigation
vectorMenu emptyPortlet
p-cactions-label

value:
mw-wiki-logo
/wiki/Main_Page
Visit the main page

value:
/wiki/Main_Page
Visit the main page [ctrl-alt-z]
z

value: Featured content – the best of Wikipedia

value: Find background information on current events

value:
/wiki/Special:Random
Load a random article [ctrl-alt-x]
x

value: portal navigation p-navigation p-navigation-label

value: Guidance on how to use and edit Wikipedia

value: About the project, what you can do, where to find things

value: A list of recent changes in the wiki [ctrl-alt-r]

value: portal navigation p-interaction p-interaction-label

value: List of all English Wikipedia pages containing links to this page [ctrl-alt-j]

value: Recent changes in pages linked from this page [ctrl-alt-k]

value:
/wiki/Wikipedia:File_Upload_Wizard
Upload files [ctrl-alt-u]
u

value: A list of all special pages [ctrl-alt-q]

value: Permanent link to this revision of the page

value: Link to connected data repository item [ctrl-alt-g]

value: Printable version of this page [ctrl-alt-p]

value: /static/images/wikimedia-button-1.5x.png 1.5x, /static/images/wikimedia-button-2x.png 2x

value: /static/images/poweredby_mediawiki_132x47.png 1.5x, /static/images/poweredby_mediawiki_176x62.png 2x

value:
suggestions
display: none; font-size: 13px;

value: mediawiki ltr sitedir-ltr mw-hide-empty-elt ns-0 ns-subject page-Extended-hours_trading rootpage-Extended-hours_trading skin-vector action-view


text:
Marketing
From Wikipedia, the free encyclopedia
Jump to: navigation, search
For the magazine, see Marketing (magazine).
[hide]This article has multiple issues. Please help improve it or discuss these issues on the talk page. (Learn how and when to remove these template messages)
This article may be too long to read and navigate comfortably. Please consider splitting content into sub-articles, condensing it, or adding or removing subheadings. (January 2018)
This article may have too many section headers dividing up its content. Please help improve the article by merging similar sections and removing unneeded subheaders. (January 2018)
This article is written like a personal reflection or opinion essay that states a Wikipedia editor's personal feelings about a topic. Please help improve it by rewriting it in an encyclopedic style. (January 2018) (Learn how and when to remove this template message)
This article needs additional citations for verification. Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed. (February 2008) (Learn how and when to remove this template message)
(Learn how and when to remove this template message)
Marketing
Marketing
Marketing management
Key concepts[show]
Distribution
Pricing
Retail
Service
Activation
Brand licensing
Brand management
Co-creation
Corporate identity
Dominance
Effectiveness
Ethics
Operations
Promotion
Research
Segmentation
Strategy
Account-based marketing
Digital marketing
Product marketing
Social marketing
Promotional content[show]
Advertising
Branding
Corporate anniversary
Direct marketing
Loyalty marketing
Mobile marketing
On-hold messaging
Personal selling
Premiums
Prizes
Product placement
Propaganda
Publicity
Sales promotion
Sex in advertising
Underwriting spot
Promotional media[show]
Behavioral targeting
Brand ambassador
Broadcasting
Display advertising
Drip marketing
In-game advertising
Mobile advertising
Native advertising
New media
Online advertising
Out-of-home advertising
Point of sale
Printing
Product demonstration
Promotional merchandise
Publication
Visual merchandising
Web banner
Word-of-mouth
v
t
e
Marketing is the study and management of exchange relationships.[1][2] Marketing is used to create, keep and satisfy the customer. With the customer as the focus of its activities, it can be concluded that Marketing is one of the premier components of Business Management - the other being Innovation.[3]
Contents
[hide]
1 Definition
2 The marketing concept
3 Marketing orientations
3.1 Product orientation
3.2 Sales orientation
3.3 Production orientation
3.4 Marketing orientation
3.5 Societal marketing orientation
4 The marketing mix or the 4 Ps
4.1 Origins of the four Ps
4.2 Brief outline of the 4 Ps
4.3 Criticisms of the four P-model
4.4 Modifications and extensions to the marketing mix (4 Ps)
5 The marketing environment
5.1 The macro-environment
5.2 The micro-environment
5.3 The internal environment
6 Marketing research
6.1 The Marketing Research Process
7 Market segmentation
7.1 The purposes of market segmentation
7.2 Overview of segmentation process
7.2.1 Segment
7.2.2 Target
7.2.3 Position
8 Marketing communications
8.1 Personal sales
8.2 Sales promotion
8.3 Public Relations
8.4 Publicity
8.5 Advertising
8.6 Marketing communications "mix"
9 Marketing planning
9.1 Marketing planning process
9.2 Levels of marketing objectives within an organization
9.2.1 Corporate
9.2.2 Strategic business unit
9.2.3 Functional
10 Product life cycle
10.1 Introduction
10.2 Growth
10.3 Maturity
10.4 Decline
11 Customer focus
12 Product focus
13 See also
13.1 Types of marketing
13.2 Marketing orientations or philosophies
14 References
15 Bibliography
16 External links
Definition[edit]
Marketing is defined by the American Marketing Association as "the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large."[4] The term developed from the original meaning which referred literally to going to market with goods for sale. From a Sales process engineering perspective, marketing is "a set of processes that are interconnected and interdependent with other functions" of a business aimed at achieving customer interest and satisfaction.[5]
The Chartered Institute of Marketing defines marketing as "the management process responsible for identifying, anticipating and satisfying customer requirements profitably."[6] A similar concept is the value-based marketing which states the role of marketing to contribute to increasing shareholder value.[7] In this context, marketing can be defined as "the management process that seeks to maximise returns to shareholders by developing relationships with valued customers and creating a competitive advantage."[7]
Marketing practice tended to be seen as a creative industry in the past, which included advertising, distribution and selling. However, because the academic study of marketing makes extensive use of social sciences, psychology, sociology, mathematics, economics, anthropology and neuroscience, the profession is now widely recognized as a science,[8][not in citation given]allowing numerous universities to offer Master-of-Science (MSc) programs.[9][not in citation given]
The process of marketing is that of bringing a product to market. As such, the steps include, broad market research; market targeting and market segmentation; determining distribution, pricing and promotion strategies; developing a communications strategy; budgeting; and visioning long-term market development goals.[10] Many parts of the marketing process (e.g. product design, Art direction, Brand management, advertising, Copywriting etc.) involve use of the creative arts.
The marketing concept[edit]
The 'marketing concept' proposes that in order to satisfy the organizational objectives, an organization should anticipate the needs and wants of consumers and satisfy these more effectively than competitors. This concept originated from Adam Smith's book The Wealth of Nations, but would not become widely used until nearly 200 years later.[11] Marketing and marketing concepts are directly related.
Given the centrality of customer needs and wants in marketing, a rich understanding of these concepts is essential:[12]
Needs: Something necessary for people to live a healthy, stable and safe life. When needs remain unfulfilled, there is a clear adverse outcome: a dysfunction or death. Needs can be objective and physical, such as the need for food, water and shelter; or subjective and psychological, such as the need to belong to a family or social group and the need for self-esteem.
Wants: Something that is desired, wished for or aspired to. Wants are not essential for basic survival and are often shaped by culture or peer-groups.
Demands: When needs and wants are backed by the ability to pay, they have the potential to become economic demands.
Marketing research, conducted for the purpose of new product development or product improvement, is often concerned with identifying the consumer's unmet needs. [13] Customer needs are central to market segmentation which is concerned with dividing markets into distinct groups of buyers on the basis of "distinct needs, characteristics, or behaviors who might require separate products or marketing mixes." [14] Needs-based segmentation (also known as benefit segmentation) "places the customers' desires at the forefront of how a company designs and markets products or services." [15] Although needs-based segmentation is difficult to do in practice, has been proved to be one of the most effective ways to segment a market. [16] In addition, a great deal of advertising and promotion is designed to show how a given product's benefits meet the customer's needs, wants or expectations in a unique way.[17]
Marketing orientations[edit]
Main article: History of marketing § Orientations or philosophies that inform marketing practice
A marketing orientation has been defined as a "philosophy of business management." [18] or "a corporate state of mind" [19] or as an "organisation[al] culture" [20] Although scholars continue to debate the precise nature of specific orientations that inform marketing practice, the most commonly cited orientations are as follows: [21]
Product orientation[edit]
A firm employing a product orientation is mainly concerned with the quality of its own product. A product orientation is based on the assumption that, all things being equal, consumers will purchase products of a superior quality. The approach is most effective when the firm has deep insights into customers and their needs and desires derived from research or intuition and understands consumers' quality expectations and reservation prices. For example, Sony Walkman or Apple iPod were innovative product designs that addressed consumers unmet needs. Although the product orientation has largely been supplanted by the marketing orientation, firms practising a product orientation can still be found in haute couture and in arts marketing. [22]
Sales orientation[edit]
Further information: History of marketing § Selling orientation
A firm using a sales orientation focuses primarily on the selling/promotion of the firm's existing products, rather than determining new or unmet consumer needs or desires. Consequently, this entails simply selling existing products, using promotion and direct sales techniques to attain the highest sales possible.[23] The sales orientation "is typically practised with unsought goods." [24] One study found that industrial companies are more likely to hold a sales orientation than consumer goods companies. [25] The approach may also suit scenarios in which a firm holds dead stock, or otherwise sells a product that is in high demand, with little likelihood of changes in consumer tastes diminishing demand.
Production orientation[edit]
Further information: History of marketing § Production orientation
A firm focusing on a production orientation specializes in producing as much as possible of a given product or service in order to achieve economies of scale or economies of scope. A production orientation may be deployed when a high demand for a product or service exists, coupled with certainty that consumer tastes and preferences remain relatively constant (similar to the sales orientation). The so-called production era is thought to have dominated marketing practice from the 1860s to the 1930s, but other theorists argue that evidence of the production orientation can still be found in some companies or industries. Specifically Kotler and Armstrong note that the production philosophy is "one of the oldest philosophies that guides sellers... [and] is still useful in some situations." [26]
Marketing orientation[edit]
Further information: Market orientation
The marketing orientation is perhaps the most common orientation used in contemporary marketing. It is a customer-centric approach that involves a firm basing its marketing program around products that suit new consumer tastes. Firms adopting a marketing orientation typically engage in extensive market research to gauge consumer desires, use R&D to develop a product attuned to the revealed information, and then utilize promotion techniques to ensure consumers are aware of the product's existence and the benefits it can deliver. [27] Scales designed to measure a firm's overall market orientation have been developed and found to be relatively robust in a variety of contexts. [28]
The marketing orientation often has three prime facets, which are:
Customer orientation: A firm in the market economy can survive by producing goods that persons are willing and able to buy. Consequently, ascertaining consumer demand is vital for a firm's future viability and even existence as a going concern.
Organizational orientation: In this sense, a firm's marketing department is often seen as of prime importance within the functional level of an organization. Information from an organization's marketing department would be used to guide the actions of other department's within the firm. As an example, a marketing department could ascertain (via marketing research) that consumers desired a new type of product, or a new usage for an existing product. With this in mind, the marketing department would inform the R&D department to create a prototype of a product/service based on consumers' new desires.
The production department would then start to manufacture the product, while the marketing department would focus on the promotion, distribution, pricing, etc. of the product. Additionally, a firm's finance department would be consulted, with respect to securing appropriate funding for the development, production and promotion of the product. Inter-departmental conflicts may occur, should a firm adhere to the marketing orientation. Production may oppose the installation, support and servicing of new capital stock, which may be needed to manufacture a new product. Finance may oppose the required capital expenditure, since it could undermine a healthy cash flow for the organization.
Mutually beneficial exchange: In a transaction in the market economy, a firm gains revenue, which thus leads to more profits/market share/sales. A consumer on the other hand gains the satisfaction of a need/want, utility, reliability and value for money from the purchase of a product or service. As no-one has to buy goods from any one supplier in the market economy, firms must entice consumers to buy goods with contemporary marketing ideals.
Societal marketing orientation[edit]
A number of scholars and practitioners have argued that marketers have a greater social responsibility than simply satisfying customers and providing them with superior value. Instead, marketing activities should strive to benefit society's overall well-being. Marketing organisations that have embraced the societal marketing concept typically identify key stakeholder groups such as employees, customers, and local communities. They should consider the impact of their activities on all stakeholders. Companies that adopt a societal marketing perspective typically practice triple bottom line reporting whereby they publish social impact and environmental impact reports alongside financial performance reports. Sustainable marketing or green marketing is an extension of societal marketing. [29]
The marketing mix or the 4 Ps[edit]
Main article: Marketing mix
The four Ps, often referred to as the marketing mix or the marketing program,[30] represent the basic tools which marketers can use to bring their products or services to market. They are the foundation of managerial marketing and the marketing plan typically devotes a section to each of these Ps.
Origins of the four Ps[edit]
During the 1940s, the discipline of marketing was in transition. Interest in the functional school of thought, which was primarily concerned with mapping the functions of marketing was waning while the managerial school of thought, which focussed on the problems and challenges confronting marketers was gaining ground. [31] The concept of marketers as "mixers of ingredients," was first introduced by James Culliton, a Professor at Harvard Business School. [32] At this time theorists began to develop checklists of the elements that made up the marketing mix, however, there was little agreement as to what should be included in the list. Many scholars and practitioners relied on lengthy classifications of factors that needed to be considered to understand consumer responses.[33] Neil Borden developed a complicated model in the late 1940s, based upon at least twelve different factors.[34]
The original marketing mix or the 4Ps
Inspired by the idea of marketers as mixers of ingredients, Neil Borden one of Culliton's colleagues at Harvard, coined the phrase the marketing mix and used it wherever possible. According to Borden's own account, he used the term, 'marketing mix' consistently from the late 1940s. [35] For instance, he is on record as having used the term, 'marketing mix,' in his presidential address given to the American Marketing Association in 1953. [36] In the mid-1960s, Borden published a retrospective article detailing the early history of the marketing mix in which he claims that he was inspired by Culliton's idea of 'mixers', and credits himself with coining the term, 'marketing mix'.[37] Borden's continued and consistent use of the phrase, "marketing mix," contributed to the process of popularising the concept throughout the 1940s and 50s.
The "marketing mix" gained widespread acceptance with the publication, in 1960, of E. Jerome McCarthy's text, Basic Marketing: A Managerial Approach which outlined the ingredients in the mix as the memorable 4 Ps, namely product, price, place and promotion. [38] The marketing mix is based upon four controllable variables that a company manages in its effort to satisfy the corporation's objectives as well as the needs and wants of a target market.[34] Once there is understanding of the target market's interests, marketers develop tactics, using the 4Ps, to encourage buyers to purchase product. The successful use of the model is predicated upon the degree to which the target market's needs and wants have been understood, and the extent to which marketers have developed and correctly deployed the tactics. Today, the marketing mix or marketing program is understood to refer to the "set of marketing tools that the firm uses to pursue its marketing objectives in the target market".[39]
Brief outline of the 4 Ps[edit]
The traditional marketing mix refers to four broad levels of marketing decision, namely: product, price, promotion, and place.[40][41]
Product
The product aspects of marketing deal with the specifications of the actual goods or services, and how it relates to the end-user's needs and wants. The product element consists of product design, new product innovation, branding, packaging, labelling. The scope of a product generally includes supporting elements such as warranties, guarantees, and support. Branding, a key aspect of the product management, refers to the various methods of communicating a brand identity for the product, brand, or company.
Pricing
This refers to the process of setting a price for a product, including discounts. The price need not be monetary; it can simply be what is exchanged for the product or services, e.g. time, energy, or attention or any sacrifices consumers make in order to acquire a product or service. The price is the cost that a consumer pays for a product--monetary or not. Methods of setting prices are in the domain of pricing science.
Place (or distribution)
This refers to how the product gets to the customer; the distribution channels and intermediaries such as wholesalers and retailers who enable customers to access products or services in a convenient manner. This third P has also sometimes been called Place, referring to the channel by which a product or service is sold (e.g. online vs. retail), which geographic region or industry, to which segment (young adults, families, business people), etc. also referring to how the environment in which the product is sold in can affect sales.
Promotion
This includes all aspects of marketing communications; advertising, sales promotion, including promotional education, public relations, personal selling, product placement, branded entertainment, event marketing, trade shows and exhibitions.
Criticisms of the four P-model[edit]
Morgan, in Riding the Waves of Change (Jossey-Bass, 1988), suggests that one of the greatest limitations of the 4 Ps approach "is that it unconsciously emphasizes the inside–out view (looking from the company outwards), whereas the essence of marketing should be the outside–in approach". An inside-out approach is the traditional planning approach where the organisation identifies its desired goals and objectives which are often based around what has always been done. Marketing's task then becomes one of "selling" the organisation's products and messages to the "outside" or external stakeholders.[42] In contrast, an outside-in approach first seeks to understand the needs and wants of the consumer. [43]
From a model-building perspective, the 4 Ps has attracted a number of criticisms. Well-designed models should exhibit clearly defined categories that are mutually exclusive, with no overlap. Yet, the 4 Ps model has extensive overlapping problems. Some of the Ps are only defined in vague terms. Several authors stress the hybrid nature of the fourth P, mentioning the presence of two important dimensions, "communication" (general and informative communications such as public relations and corporate communications) and "promotion" (persuasive communications such as advertising and direct selling). Certain marketing activities, such as personal selling, may be classified as either promotion or as part of the place (i.e. distribution) element. [44] Some pricing tactics such as promotional pricing can be classified as price variables or promotional variables and therefore also exhibit some overlap.
Other important criticisms include that the marketing mix lacks a strategic framework and is therefore unfit to be a planning instrument, particularly when uncontrollable, external elements are an important aspect of the marketing environment. [45]
Modifications and extensions to the marketing mix (4 Ps)[edit]
Expanded marketing mix for services
To overcome the deficiencies of the 4 P model, some authors have suggested extensions or modifications to the original model. Extensions of the four P's include "people", "process", and "physical evidence" and are often applied in the case of services marketing[46] Other extensions have been found necessary in retail marketing, industrial marketing and internet marketing:
Industrial or B2B marketing needs to account for the long term contractual agreements that are typical in supply chain transactions. Relationship marketing attempts to do this by looking at marketing from a long term relationship perspective rather than individual transactions.[47]
Services marketing needs to account for the unique characteristics of services (i.e. intangibility, perishability, heterogeneity and the inseparability of production and consumption). In order to recognize the special challenges involved in selling services, as opposed to goods, some authors advocate extending the model to 7 Ps for service industries by adding; Process - the way in which orders are handled, customers are satisfied and the service is delivered; Physical Evidence - is tangible evidence with which customers interact and with the potential to impact on the customer's service experience; People -service personnel and other customers with whom customers interact and form part of the overall service experience. [48]
Expanded marketing mix for retail
Retail marketing needs to account for the unique facets of retail stores. A number of authors have argued for the inclusion of two new Ps, namely, Personnel and Presentation since these contribute to the customer's unique retail experience and are the principal basis for retail differentiation. Some scholars also recommend adding Retail Format (i.e. retail formula) since it contributes to customer expectations. [49] The modified retail marketing mix is often called the 6 Ps of retailing. [50][51]
Internet marketing presents both marketing practitioners and scholars with special challenges including: customer empowerment, new communication modes, real-time interactivity, access to global markets, high levels of market transparency and difficulty maintaining competitive advantages. While some scholars argue for an expanded marketing mix for internet marketing, most argue that entirely new models are required. [52]
Some authors cite a further P - Packaging - this is thought by many to be part of Product, but in certain markets (Japan, China for example) and with certain products (perfume, cosmetics) the packaging of a product has a greater importance - maybe even than the product itself.
The marketing environment[edit]
Main article: Market environment
The term "marketing environment" relates to all of the factors (whether internal, external, direct or indirect) that affect a firm's marketing decision-making/planning. A firm's marketing environment consists of three main areas, which are:
The macro-environment, over which a firm holds little control
The micro-environment, over which a firm holds a greater amount (though not necessarily total) control
The internal environment, which includes the factors inside of the company itself [53]
The macro-environment[edit]
A firm's marketing macro-environment consists of a variety of external factors that manifest on a large (or macro) scale. These are typically economic, social, political or technological phenomena. A common method of assessing a firm's macro-environment is via a PESTLE (Political, Economic, Social, Technological, Legal, Ecological) analysis. Within a PESTLE analysis, a firm would analyze national political issues, culture and climate, key macroeconomic conditions, health and indicators (such as economic growth, inflation, unemployment, etc.), social trends/attitudes, and the nature of technology's impact on its society and the business processes within the society.
The micro-environment[edit]
A firm's micro-environment comprises factors pertinent to the firm itself, or stakeholders closely connected with the firm or company.
A firm's micro-environment typically spans:
Customers/consumers
Employees
Suppliers
The Media
By contrast to the macro-environment, an organization holds a greater degree of control over these factors.
The internal environment[edit]
A firms internal environment consists of factors inside of the actual company. These are factors controlled by the firm and they affect the relationship that a firm has with its customers. These include factors such as:
Labor
Inventory
Company Policy
Logistics
Budget
Capital Assets
Marketing research[edit]
Main article: Marketing research
Marketing research is a systematic process of analyzing data which involves conducting research to support marketing activities, and the statistical interpretation of data into information. This information is then used by managers to plan marketing activities, gauge the nature of a firm's marketing environment and to attain information from suppliers.
A distinction should be made between marketing research and market research. Market research pertains to research in a given market. As an example, a firm may conduct research in a target market, after selecting a suitable market segment. In contrast, marketing research relates to all research conducted within marketing. Market research is a subset of marketing research.
Marketing researchers use statistical methods (such as quantitative research, qualitative research, hypothesis tests, Chi-square tests, linear regression, correlation coefficients, frequency distributions, Poisson and binomial distributions, etc.) to interpret their findings and convert data into information.[54]
The Marketing Research Process[edit]
Marketing research spans a number of stages,[55] including:
Define the problem
Develop a research plan
Collect the data
Interpret data into information
Disseminate information formally in the form of a report
Market segmentation[edit]
Main article: Market segmentation
Market segmentation consists of taking the total heterogeneous market for a product and dividing it into several sub-markets or segments, each of which tends to be homogeneous in all significant aspects.[56]
The purposes of market segmentation[edit]
Market segmentation is conducted for two main purposes, including:
A better allocation of a firm's finite resources
To better serve the more diversified tastes of contemporary consumers
A firm only possesses a certain amount of resources. Accordingly, it must make choices (and appreciate the related costs) in servicing specific groups of consumers.
Moreover, with more diversity in the tastes of modern consumers, firms are taking noting the benefit of servicing a multiplicity of new markets.
Overview of segmentation process[edit]
The steps of segmentation are Segment, Target, Position (abbreviated STP).
Segment[edit]
Segmentation involves the initial splitting up of consumers into persons of like needs/wants/tastes.
Four commonly used criteria are used for segmentation, which include:
Geographical (a country, region, city, town, etc.)
Psychographic (e.g. personality traits or lifestyle traits which influence consumer behaviour)
Demographic (e.g. age, gender, socio-economic class, education, etc.)
Behavioural (e.g. brand loyalty, usage rate, etc.)
Target[edit]
Once a segment has been identified, a firm must ascertain whether the segment is beneficial for them to service.
The DAMP acronym (meaning Discernable, Accessible, Measurable and Profitable) are used as criteria to gauge the viability of a target market. DAMP is explained in further detail below:
Discernable - how a segment can be differentiated from other segments.
Accessible - how a segment can be accessed via Marketing Communications produced by a firm
Measurable - can the segment be quantified and its size determined?
Profitable - can a sufficient return on investment be attained from a segment's servicing?
The next step in the targeting process is the level of differentiation involved in a segment serving. Three modes of differentiation exist, which are commonly applied by firms. These are:
Undifferentiated - where a company produces a like product for all of a market segment
Differentiated - in which a firm produced slight modifications of a product within a segment
Niche - in which an organisation forges a product to satisfy a specialised target market
Position[edit]
Positioning concerns how to position a product in the minds of consumers and inform what attributes differentiate it from the competitor's products.
A firm often performs this by producing a perceptual map, which denotes similar products produced in the same industry according to how consumers perceive their price and quality. From a product's placing on the map, a firm would tailor its marketing communications to suit meld with the product's perception among consumers, and its position among competitors' offering.
Marketing communications[edit]
Main article: Promotion (marketing)
Main article: Integrated marketing communications
Main article: Marketing communications planning framework
Marketing communications is an audience-centered activity designed to engage audiences and promote responses. It is defined by actions a firm takes to communicate with end-users, consumers, and external parties.
Marketing communications encompass four distinct subsets, which are:
Personal sales[edit]
Main article: Personal selling
Female beer sellers warn the photographer that he also has to buy some, Tireli market, Mali 1989
Oral presentation given by a salesperson who approaches individuals or a group of potential customers:
Live, interactive relationship
Personal interest
Attention and response
Interesting presentation
Clear and thorough.
Sales promotion[edit]
Main article: Sales promotion
Short-term incentives to encourage buying of products:
Instant appeal
Anxiety to sell
An example is coupons or a sale. People are given an incentive to buy, but this does not build customer loyalty or encourage future repeat buys. A major drawback of sales promotion is that it is easily copied by competition. It cannot be used as a sustainable source of differentiation.
Public Relations[edit]
Public Relations (or PR, as an acronym) is the use of media tools by a firm in order to promote goodwill from an organization to a target market segment, or other consumers of a firm's good/service. PR stems from the fact that a firm cannot seek to antagonize or inflame its market base, due to incurring a lessened demand for its good/service. Organizations undertake PR in order to assure consumers, and to forestall negative perceptions towards it.
PR can span:
Interviews
Speeches/Presentations
Corporate literature, such as financial statements, brochures, etc.
Publicity[edit]
Publicity involves attaining space in media, without having to pay directly for such coverage. As an example, an organization may have the launch of a new product covered by a newspaper or TV news segment. This benefits the firm in question since it is making consumers aware of its product, without necessarily paying a newspaper or television station to cover the event.
Advertising[edit]
Main article: Advertising management
Advertising occurs when a firm directly pays a media channel to publicize its product. Common examples of this include TV and radio adverts, billboards, branding, sponsorship, etc.
Marketing communications "mix"[edit]
Main article: Promotional mix
Marketing communications mix is used to reach, engage, provoke audience-centered conversations. It consists of 5 tools, which are 1)Advertising, 2)Sales & Promotion, 3)Public Relations, 4)Direct Marketing and 5)Personal Selling. The types of messages that are enhanced can be 1)Informational, 2)Emotional, 3)User-generated, or/and 4)Brand content. The last main component of MC mix is Media, which corresponds to the channel used to send the message. Media is divided into 3 categories, and these are media by 1)Form, 2)Source and 3)Functionality.
Marketing planning[edit]
Main article: Marketing plan
The area of marketing planning involves forging a plan for a firm's marketing activities. A marketing plan can also pertain to a specific product, as well as to an organisation's overall marketing strategy.
Generally speaking, an organisation's marketing planning process is derived from its overall business strategy. Thus, when top management are devising the firm's strategic direction/mission, the intended marketing activities are incorporated into this plan.
Marketing planning process[edit]
Within the overall strategic marketing plan, the stages of the process are listed as thus:
Mission Statement
Corporate Objectives
Marketing Audit
SWOT (Strengths, Weaknesses, Opportunities, Threats) analysis
Assumptions arising from the Audit and SWOT analysis
Marketing objectives derived from the assumptions
An estimation of the expected results of the objectives
Identification of alternative plans/mixes
Budgeting for the marketing plan
A first-year implementation program.
Levels of marketing objectives within an organization[edit]
As stated previously, the senior management of a firm would formulate a general business strategy for a firm. However, this general business strategy would be interpreted and implemented in different contexts throughout the firm.
Corporate[edit]
Corporate marketing objectives are typically broad-based in nature, and pertain to the general vision of the firm in the short, medium or long-term.
As an example, if one pictures a group of companies (or a conglomerate), top management may state that sales for the group should increase by 25% over a ten-year period.
Strategic business unit[edit]
A strategic business unit (SBU) is a subsidiary within a firm, which participates within a given market/industry. The SBU would embrace the corporate strategy, and attune it to its own particular industry. For instance, an SBU may partake in the sports goods industry. It thus would ascertain how it would attain additional sales of sports goods, in order to satisfy the overall business strategy.
Functional[edit]
The functional level relates to departments within the SBUs, such as marketing, finance, HR, production, etc. The functional level would adopt the SBU's strategy and determine how to accomplish the SBU's own objectives in its market.
To use the example of the sports goods industry again, the marketing department would draw up marketing plans, strategies and communications to help the SBU achieve its marketing aims.
Product life cycle[edit]
Product lifecycle
The product life cycle (PLC) is a tool used by marketing managers to gauge the progress of a product, especially relating to sales or revenue accrued over time. The PLC is based on a few key assumptions, including:
A given product would possess introduction, growth, maturity, and decline stage
No product lasts perpetually on the market
A firm must employ differing strategies, according to where a product is on the PLC
Introduction[edit]
In this stage, a product is launched onto the market. To stimulate growth of sales/revenue, use of advertising may be high, in order to heighten awareness of the product in question.
Growth[edit]
The product's sales/revenue is increasing, which may stimulate more marketing communications to sustain sales. More entrants enter into the market, to reap the apparent high profits that the industry is producing.
Maturity[edit]
A product's sales start to level off, and an increasing number of entrants to a market produce price falls for the product. Firms may use sales promotions to raise sales.
Decline[edit]
Demand for a good begins to taper off, and the firm may opt to discontinue manufacture of the product. This is so, if revenue for the product comes from efficiency savings in production, over actual sales of a good/service. However, if a product services a niche market, or is complementary to another product, it may continue manufacture of the product, despite a low level of sales/revenue being accrued.
Customer focus[edit]
Many companies today have a customer focus (or market orientation). This implies that the company focuses its activities and products on consumer demands. Generally there are three ways of doing this: the customer-driven approach, the sense of identifying market changes and the product innovation approach.
In the consumer-driven approach, consumer wants are the drivers of all strategic marketing decisions. No strategy is pursued until it passes the test of consumer research. Every aspect of a market offering, including the nature of the product itself, is driven by the needs of potential consumers. The starting point is always the consumer. The rationale for this approach is that there is no point spending R&D funds developing products that people will not buy. History attests to many products that were commercial failures in spite of being technological breakthroughs.[57]
A formal approach to this customer-focused marketing is known as SIVA[58] (Solution, Information, Value, Access). This system is basically the four Ps renamed and reworded to provide a customer focus.
The SIVA Model provides a demand/customer centric version alternative to the well-known 4Ps supply side model (product, price, place, promotion) of marketing management.
Product → Solution
Promotion → Information
Price → Value
Placement → Access
Product focus[edit]
In a product innovation approach, the company pursues product innovation, then tries to develop a market for the product. Product innovation drives the process and marketing research is conducted primarily to ensure that profitable market segment(s) exist for the innovation. The rationale is that customers may not know what options will be available to them in the future so we should not expect them to tell us what they will buy in the future. However, marketers can aggressively over-pursue product innovation and try to overcapitalize on a niche. When pursuing a product innovation approach, marketers must ensure that they have a varied and multi-tiered approach to product innovation. It is claimed that if Thomas Edison depended on marketing research he would have produced larger candles rather than inventing light bulbs. Many firms, such as research and development focused companies, successfully focus on product innovation. Many purists doubt whether this is really a form of marketing orientation at all, because of the ex post status of consumer research. Some even question whether it is marketing.
An emerging area of study and practice concerns internal marketing, or how employees are trained and managed to deliver the brand in a way that positively impacts the acquisition and retention of customers (employer branding).
Diffusion of innovations research explores how and why people adopt new products, services and ideas.
A relatively new form of marketing uses the Internet and is called Internet marketing or more generally e-marketing, affiliate marketing, desktop advertising or online marketing. It tries to perfect the segmentation strategy used in traditional marketing. It targets its audience more precisely, and is sometimes called personalized marketing or one-to-one marketing.
With consumers' eroding attention span and willingness to give time to advertising messages, marketers are turning to forms of permission marketing such as branded content, custom media and reality marketing.
The use of herd behavior in marketing.
The Economist reported a recent conference in Rome on the subject of the simulation of adaptive human behavior.[59] It shared mechanisms to increase impulse buying and get people "to buy more by playing on the herd instinct." The basic idea is that people will buy more of products that are seen to be popular, and several feedback mechanisms to get product popularity information to consumers are mentioned, including smart-cart technology and the use of Radio Frequency Identification Tag technology. A "swarm-moves" model was introduced by a Florida Institute of Technology researcher, which is appealing to supermarkets because it can "increase sales without the need to give people discounts."
Marketing is also used to promote business' products and is a great way to promote the business.
Other recent studies on the "power of social influence" include an "artificial music market in which some 14,000 people downloaded previously unknown songs" (Columbia University, New York); a Japanese chain of convenience stores which orders its products based on "sales data from department stores and research companies;" a Massachusetts company exploiting knowledge of social networking to improve sales; and online retailers who are increasingly informing consumers about "which products are popular with like-minded consumers" (e.g., Amazon, eBay).
See also[edit]
Main article: Outline of marketing
Affinity marketing
Advertising
History of advertising
Sex in Advertising
Advertising management
American business history
Brand awareness
Co-marketing
Consumer confusion
Consumer behaviour
Database marketing
Demand chain
Digital marketing
Email remarketing
Family in advertising
History of marketing
List of marketing terms
Loyalty marketing
Marketing mix
Marketing Management
Marketing research
Marketing strategy
Media manipulation
Multicultural marketing
Product management
Production orientation
Public Sector Marketing
Real-time marketing
Relationship marketing
Smarketing
Societal marketing
Sustainable market orientation
Visual marketing
Types of marketing[edit]
Agricultural marketing
Business marketing, also known as Industrial marketing
Tourism marketing
Global marketing
Relationship marketing
Services marketing
Social marketing
Marketing orientations or philosophies[edit]
Marketing orientation)
Production orientation (also see sections: Production orientation or Production orientation)
Selling orientation or Sales orientation)
Societal marketing (also see section: Societal marketing or Sustainable market orientation or Corporate social responsibility)
Relationship orientation (also see Relationship orientation or Customer relationship management)
References[edit]
Jump up ^ Hunt, Shelby D. "The nature and scope of marketing." Journal of Marketing 40.3 (1976): 17-28.
Jump up ^ Bagozzi, Richard. "Marketing as Exchange."Journal of Marketing 39.4 (1975): 32-39.
Jump up ^ Drucker, Peter (1954). The practice of management. New York: Harper and Row Publishers.
Jump up ^ Marketing definition approved in October 2007 by the American Marketing Association: [1].
Jump up ^ Paul H. Selden (1997). Sales Process Engineering: A Personal Workshop. Milwaukee, WI: ASQ Quality Press. p. 23.
Jump up ^ "Marketing library resources - content, knowledge databases - CIM". Retrieved 16 March 2017.
^ Jump up to: a b Paliwoda, Stanley J.; John K. Ryans (2008). "Back to first principles". International Marketing: Modern and Classic Papers (1st ed.). p. 25. Retrieved 2009-10-15.
Jump up ^ 2.0, Women. "The Science Of Marketing". Forbes. Retrieved 2017-06-16.
Jump up ^ "Best Masters of Science (MScs) in Marketing 2017/2018". www.masterstudies.com. Retrieved 2017-09-27.
Jump up ^ "10 Steps to Creating a Marketing Plan for Your Small Business - dummies". dummies. Retrieved 2017-09-27.
Jump up ^ NetMBA.com. "Marketing Concept". www.netmba.com. Retrieved 2017-11-08.
Jump up ^ Weeks, Richard; Marx, William (Autumn 1968). "The Market Concept: Problems and Promises". Business and Society. 9: 39 – via Sage Journals.
Jump up ^ Hague,P.N., Hague, N. and Morgan, C-A., Market Research in Practice: How to Get Greater Insight From Your Market, London, Kogan-Page, 2013, pp 19-20
Jump up ^ Smith, W.R., "Product Differentiation and Market Segmentation as Alternative Marketing Strategies," Journal of Marketing, Vol. 21, No. 1 , 1956, pp. 3–8 and reprinted in Marketing Management, Vol. 4, No. 3, 1995, pp. 63–65
Jump up ^ Green, S.," What Comes Next? Survey Analysis and Segmentation," Discover the Future of Research [web article], Wiley, 12 January, 2017, Online: https://hub.wiley.com/community/exchanges/discover/blog/2017/01/11/what-comes-next-survey-analysis-and-segmentation
Jump up ^ Ahmad, R., "Benefit Segmentation: A Potentially Useful Technique of Segmenting and Targeting Older Consumers," International Journal of Market Research, Vol. 45, No. 3, 2003 <Online: (via WARC) https://www.warc.com/fulltext/JMRS/78268.htm>; Hague,P.N., Hague, N. and Morgan, C-A., Market Research in Practice: How to Get Greater Insight From Your Market, London, Kogan-Page, 2013, pp 19-20; Goyat, S., "The Basis of Market Segmentation: A Critical Review of Literature," European Journal of Business and Management, Vol. 3, No. 9, 2011, pp 45.54
Jump up ^ du Plessis, D.F., Introduction to Public Relations and Advertising, p.134
Jump up ^ Mc Namara (1972) cited in Deshpande, R., Developing a Market Orientation, Thousand Oaks, CA, Sage, 1999, p. 11
Jump up ^ Kohli, A.K. and Jaworski, B.J., "Market Orientation: The Construct, Research Propositions, and Managerial Implications," Journal of Marketing, Vol. 54, April 1990, pp 1-18
Jump up ^ Narver, J.C. and Slater, S.F., "The Effect of a Market Orientation on Business Profitability, " Journal of Marketing, Vol 54, no. 4, pp 20-34.
Jump up ^ Hollander, S.C., Jones, D.G.B. and Dix, L., "Periodization in Marketing History," Journal of Macromarketing, Vol. 25, no. 1, pp 33-39
Jump up ^ Fills, I., "Art for Art's Sake or Art for Business Sake: An exploration of artistic product orientation," The Marketing Review, Vol. 6, No. 1, 2006, pp. 29-40, DOI: https://doi.org/10.1362/146934706776861573; Sheth, J., Sisodia, R.S. and Sharma, A., "The Antecedents and Consequences of Customer-Centric Marketing," Journal of the Academy of Marketing Science, Vol. 28, No. 1, 2000, p. 55
Jump up ^ Kotler, Philip (1980). Principles of Marketing. Eaglewood Cliffs, NJ: Prentice-Hall Inc.
Jump up ^ Kotler, P., Armstrong, G., Principles of Marketing, 12th ed., Upper Saddle River, Pearson Education, 2008, p. 29
Jump up ^ Avlonitis, G.J. and Gounaris, S,P., "Marketing Orientation and Company Performance: Industrial vs. Consumer Goods Companies," Industrial Marketing Management, Vol. 26, 1997, pp 385-402
Jump up ^ Kotler, P., Armstrong, G., Principles of Marketing, 12th ed., Upper Saddle River, Pearson Education, 2008, p. 28
Jump up ^ McGee, L.W. and Spiro, R.L., "The Marketing Concept in Perspective," Business Horizons, May–June, 1988, pp 40-45
Jump up ^ Hooley, G., Fahy, J., Beracs, J., Fonfara, K. and Snoj, B., "Market Orientation in the Transition Economies of Central Europe: Tests of the Narver and Slater Market Orientation Scales," Journal of Business Research, Vol. 50, 2000, pp 273–285. Note that the most widely applied scale is that developed by Narver and Slater in Narver, J.C., and Slater, S.F., The Effect of Marketing Orientation on Business Profitability," Journal of Marketing, Vo. 54, 1990, pp 20–35
Jump up ^ Blackwell Reference, http://www.blackwellreference.com/public/tocnode?id=g9780631233176_chunk_g978140510254422_ss1-48; Kotler, P., "What consumerism means for marketers", Harvard Business Review, vol. 50, no. 3, 1972, pp 48-57; Wilkie, W.L. and Moore, E.S., "Macromarketing as a Pillar of Marketing Thought," Journal of Macromarketing, Vol. 26 No. 2, December 2006, pp 224-232 DOI: 10.1177/0276146706291067; Wilkie, W. L. and Moore, E.S., "Scholarly Research in Marketing: Exploring the “4 Eras” of Thought Development," Journal of Public Policy and Marketing, Vol. 22, No. 2, 2003, pp 116–146
Jump up ^ Borden, N., "The Concept of the Marketing Mix," Journal of Advertising Research, June 1964 pp 2-7; van Waterschoot, W. and van den Bulte, C., "The 4P Classification of the Marketing Mix Revisited," Journal of Marketing, Vol. 56, No. 4, 1992, pp. 83-93
Jump up ^ Hunt, Shelby D. and Goolsby, Jerry, "The Rise and Fall of the Functional Approach to Marketing: A Paradigm Displacement Perspective," in Historical Perspectives in Marketing: Essays in Honour of Stanley Hollander, Terence Nevett and Ronald Fullerton (eds), Lexington, MA, Lexington Books, pp 35-37, sdh.ba.ttu.edu/Rise%20and%20Fall%20(88).pdf; Wilkie, W. L. and Moore, E.S., "Scholarly Research in Marketing: Exploring the “4 Eras” of Thought Development," Journal of Public Policy and Marketing, Vol. 22, No. 2, 2003, p. 123; Constantinides, E., "The Marketing Mix Revisited: Towards the 21st Century Marketing," Journal of Marketing Management, Vol. 22, 2006, pp 407-438, <Online: http://intranet.fucape.br/uploads/MATERIAIS_AULAS/25112-8.pdf; Jones, Brian D. G.; Shaw, Eric H, "A History of Marketing Thought," in Handbook of Marketing, Weitz, B. A. and Wensley, R. (eds), Sage. p. 58, ISBN 1-4129-2120-1
Jump up ^ Banting, P.M. & Ross, R.E., "The marketing mix: A Canadian perspective," Journal of the Academy of Marketing Science, vol. 1, no. 1, 1973, doi:10.1007/BF02729310; van Waterschoot, W. and van den Bulte, C., "The 4P Classification of the Marketing Mix Revisited," Journal of Marketing, Vol. 56, No. 4, 1992, p. 84; see also Culliton's original article in Culliton, J. The Management of Marketing Costs, Research Bulletin, Harvard University, 1948
Jump up ^ W. van Waterschoot; C. van den Bulte (1992). "The 4P Classification of the Marketing Mix Revisited". Journal of Marketing. 56 (4): 83–93.
^ Jump up to: a b Everyday Finance: Economics, Personal Money Management, and Entrepreneurship. Overview: Marketing Mix: Product, Price, Place, Promotion. January 1, 2008.
Jump up ^ Borden, N.H., "The Concept of the Marketing Mix," Journal of Advertising Research, 1964, pp 2-7 and reprinted in: Baker, M.J. (ed), Marketing: Critical Perspectives on Business and Management, Vol. 5, Routledge, 2001, pp 3-4
Jump up ^ Dominici, G., "From Marketing Mix to E-Marketing Mix: A Literature Review," International Journal of Business and Management, vol. 9, no. 4. 2009, pp 17-24
Jump up ^ Borden, N.H., "The Concept of the Marketing Mix," Journal of Advertising Research, 1964, pp 2-7
Jump up ^ Constantinides, E., "The Marketing Mix Revisited: Towards the 21st Century Marketing," Journal of Marketing Management, vol. 22, 2006 pp 407-438 Online: http://intranet.fucape.br/uploads/MATERIAIS_AULAS/25112-8.pdf; Dominici, G., "From Marketing Mix to E-Marketing Mix: A Literature Review," International Journal of Business and Management, vol. 9, no. 4. 2009, pp 17-24
Jump up ^ Kotler, P., Marketing Management (Millennium Edition), Custom Edition for University of Phoenix, Prentice Hall, 2000, p. 9; Quelch, J. A. and Jocz, K.E., All Business is Local: Why Place Matters More than Ever in a Global, Virtual World, Penguin, 2012, p. 4
Jump up ^ McCarthy, Jerome E. (1964). Basic Marketing. A Managerial Approach. Homewood, IL: Irwin.
Jump up ^ Grönroos, Christian. "From Marketing Mix to Relationship Marketing: Towards a Paradigm Shift in Marketing," Management Decision, vol. 32, no.2, 1994, pp 4-20.
Jump up ^ Kerr, F., Patti, C. and Ichul, K., "An Inside-out Approach to Integrated Marketing Communications: An International Perspective," International Journal of Advertising, Vol. 27, No.4, 2008, pp 531-540
Jump up ^ Porcu, L., del Barrio-Garcia, S., and Kitchen, P.J., "How Integrated Marketing Communications (IMC) works? A theoretical review and an analysis of its main drivers and effects/ ¿Cómo funciona la Comunicación Integrada de Marketing (CIM)? Una revisión teórica y un análisis de sus antecedentes y efectos," COMUNICACIÓN Y SOCIEDAD, Vol. XXV, Núm. 1, 2012, pp 313-348
Jump up ^ van Waterschoot, W. and van den Bulte, C., "The 4P Classification of the Marketing Mix Revisited," Journal of Marketing, Vol. 56, No. 4, pp. 83-93
Jump up ^ Constantinides, E.,"The Marketing Mix Revisited: Towards the 21st Century Marketing," Journal of Marketing Management, Vo. 22, 2006, pp 407-438
Jump up ^ Fisk, R.P., Brown, W. and Bitner, M.J., "Tracking the Evolution of Services Marketing Literature, Journal of Retailing, vol. 41 (April), 1993; Booms, B. and Bitner, M. J. "Marketing Strategies and Organizational Structures for Service Firms" in James H. Donnelly and William R. George (eds), Marketing of Services, Chicago: American Marketing Association, 47–51; Rafiq,M. and Ahmed,P.K. "Using the 7Ps as a Generic Marketing mix: An Exploratory Survey of UK and European Marketing Academics", Marketing Intelligence & Planning, Vol. 13, no. 9, pp 4–15
Jump up ^ Constantinides, E.,"The Marketing Mix Revisited: Towards the 21st Century Marketing," Journal of Marketing Management, Vo. 22, 2006, pp 423-424
Jump up ^ Fisk, R.P., Brown, W. and Bitner, M.J., "Tracking the Evolution of Services Marketing Literature, Journal of Retailing, vol. 41 (April), 1993; Booms, B. and Bitner, M. J. "Marketing Strategies and Organizational Structures for Service Firms" in James H. Donnelly and William R. George (eds), Marketing of Services, Chicago: American Marketing Association, 47–51; Booms, B. and Bitner, M. J. "Marketing Strategies and Organizational Structures for Service Firms" in James H. Donnelly and William R. George (eds), Marketing of Services, Chicago: American Marketing Association, 47–51
Jump up ^ Constantinides, E.,"The Marketing Mix Revisited: Towards the 21st Century Marketing," Journal of Marketing Management, Vo. 22, 2006, pp 422-423
Jump up ^ Berens, J.S., "The Marketing Mix, the Retailing Mix and the Use of Retail Strategy Continua," Proceedings of the 1983 Academy of Marketing Science (AMS), [Part of the series Developments in Marketing Science], pp. 323–27
Jump up ^ Lamb, C.W., Hair, J.F. and McDaniel, C., MKTG 2010, Mason, OH, Cengage, pp. 193–94
Jump up ^ Constantinides, E.,"The Marketing Mix Revisited: Towards the 21st Century Marketing," Journal of Marketing Management, Vo. 22, 2006, pp 425-430
Jump up ^ "What is Marketing Environment? definition and meaning - Business Jargons". Business Jargons. 2015-08-25. Retrieved 2017-11-08.
Jump up ^ "4 Principles Of Marketing As A Science". Search Engine Land. 2013-04-18. Retrieved 2017-06-16.
Jump up ^ http://www.polarismr.com/edctr_overview.html
Jump up ^ Stanton, William J (1984). Fundamentals of marketing. McGraw-Hill.
Jump up ^ "Marketing Management: Strategies and Programs", Guiltinan et al., McGraw Hill/Irwin, 1996
Jump up ^ "In the Mix: A Customer-Focused Approach Can Bring the Current Marketing Mix into the 21st Century". Chekitan S. Dev and Don E. Schultz, Marketing Management v.14 n.1 January/February 2005
Jump up ^ "Swarming the shelves: How shops can exploit people's herd mentality to increase sales?". The Economist. 2006-11-11. p. 90.
Bibliography[edit]
Bartels, Robert, The History of Marketing Thought," Columbus, Ohio, Grid, (1976) 1988 online
Christensen, Clayton M. (1997), The innovator's dilemma: when new technologies cause great firms to fail, Boston, Massachusetts, USA: Harvard Business School Press, ISBN 978-0-87584-585-2. (edit)
Church, Roy and Godley, Andrew (eds), The Emergence of Modern Marketing, London, Frank Cass, 2003 online edition
Hollander, Stanley C., Rassuli, Kathleen M.; Jones, D. G. Brian; Dix and Farlow, L., "Periodization in Marketing History," Journal of Macromarketing, Vol 25, no.1, 2005, pp 32-41. online
Tedlow, Richard S., and Jones, Geoffrey G. (eds), The Rise and Fall of Mass Marketing, Routledge, 2014
Weitz, Barton A. and Robin Wensley (eds). Handbook of Marketing, 2002
External links[edit]
Wikimedia Commons has media related to Marketing.
Library resources about
Marketing
Resources in your library
The dictionary definition of marketing at Wiktionary
Quotations related to marketing at Wikiquote
Marketing at Wikibooks
[show]
v
t
e
Media manipulation
Context
Bias
Crowd psychology
Deception
Dumbing down
False balance
Half-truths
Machiavellianism
Media
Obfuscation
Orwellian
Persuasion
Psychological manipulation
Activism
Alternative media
Boycott
Civil disobedience
Culture jamming
Demonstrations
Guerrilla communication
Hacktivism
Internet
Media
Occupations
Petitions
Protests
Youth
Advertising
Billboards
False
Infomercials
Mobiles
Modeling
Radio
Sex
Slogans
Testimonials
TV
Criticism of advertising
Censorship
Regulation
Books
Broadcast law
Burying of scholars
Corporate
Cover-ups
Euphemism
Films
Historical negationism
Internet
Political
Religious
Self
Hoaxing
Alternative facts
April Fools'
Fake news website
Fakelore
Fictitious entries
Forgery
Gaslighting
List
Literary
Racial
Urban legend
Virus
Marketing
Branding
Loyalty
Product
Product placement
Publicity
Research
Word of mouth
News media
Agenda-setting
Broadcasting
Circus
Cycle
False balance
Infotainment
Managing
Narcotizing dysfunction
Newspeak
Pseudo-event
Scrum
Sensationalism
Tabloid journalism
Political campaigning
Advertising
Astroturfing
Attack ad
Canvassing
Character assassination
Charm offensive
Dog-whistle politics
Election promises
Lawn signs
Manifestos
Name recognition
Negative
Push polling
Smear campaign
Wedge issue
Propaganda
Bandwagon
Crowd manipulation
Disinformation
Fearmongering
Framing
Indoctrination
Loaded language
Lying press
National mythology
Techniques
Psychological warfare
Airborne leaflets
False flag
Fifth column
Information (IT)
Lawfare
Political
Public diplomacy
Sedition
Subversion
Public relations
Cult of personality
Doublespeak
Non-apology apology
Reputation management
Slogans
Sound bites
Spin
Transfer
Understatement
Weasel words
Sales
Cold calling
Door-to-door
Pricing
Product demonstrations
Promotion
Promotional merchandise
Telemarketing
Authority control
LCCN: sh85081333
GND: 4037589-4
HDS: 14187
NDL: 00567413
Retrieved from "https://en.wikipedia.org/w/index.php?title=Marketing&oldid=820586011"
Categories:
Marketing
Promotion and marketing communications
Hidden categories:
Articles that may be too long from January 2018
Articles needing cleanup from January 2018
All pages needing cleanup
Wikipedia articles needing style editing from January 2018
All articles needing style editing
Articles needing additional references from February 2008
All articles needing additional references
Articles with multiple maintenance issues
All articles with failed verification
Articles with failed verification from November 2017
Use dmy dates from June 2011
Wikipedia articles with LCCN identifiers
Wikipedia articles with GND identifiers
Navigation menu
Personal tools
Not logged in
Talk
Contributions
Create account
Log in
Namespaces
Article
Talk
Variants
Views
Read
Edit
View history
More
Search
Navigation
Main page
Contents
Featured content
Current events
Random article
Donate to Wikipedia
Wikipedia store
Interaction
Help
About Wikipedia
Community portal
Recent changes
Contact page
Tools
What links here
Related changes
Upload file
Special pages
Permanent link
Page information
Wikidata item
Cite this page
Print/export
Create a book
Download as PDF
Printable version
In other projects
Wikimedia Commons
Wikibooks
Wikiquote
Languages
Afrikaans
العربية
Aragonés
Azərbaycanca
বাংলা
Беларуская
Беларуская (тарашкевіца)
Български
Bosanski
Català
Čeština
Corsu
Cymraeg
Dansk
Deutsch
Eesti
Ελληνικά
Español
Esperanto
Euskara
فارسی
Français
Gaeilge
Galego
ગુજરાતી
한국어
Հայերեն
हिन्दी
Hrvatski
Ido
Bahasa Indonesia
Italiano
עברית
ಕನ್ನಡ
ქართული
Қазақша
Latviešu
Lietuvių
Magyar
Македонски
മലയാളം
मराठी
Bahasa Melayu
Монгол
မြန်မာဘာသာ
Nederlands
नेपाली
नेपाल भाषा
日本語
Norsk
Oʻzbekcha/ўзбекча
پښتو
Patois
Polski
Português
Română
Русский
Саха тыла
Sardu
Scots
Shqip
Sicilianu
සිංහල
Simple English
Slovenčina
Slovenščina
Српски / srpski
Srpskohrvatski / српскохрватски
Suomi
Svenska
Tagalog
தமிழ்
తెలుగు
ไทย
Türkçe
Türkmençe
Українська
Vèneto
Tiếng Việt
Walon
ייִדיש
粵語
中文
Edit links
This page was last edited on 15 January 2018, at 13:42.
Text is available under the Creative Commons Attribution-ShareAlike License; additional terms may apply. By using this site, you agree to the Terms of Use and Privacy Policy. Wikipedia® is a registered trademark of the Wikimedia Foundation, Inc., a non-profit organization.
Privacy policy
About Wikipedia
Disclaimers
Contact Wikipedia
Developers
Cookie statement
Mobile view
Enable previews

tag: div

attr: id class

value: mw-page-base noprint

key: html

type: local

value: mw-head-base noprint

tag: a

attr: id class lang

value: firstHeading firstHeading en

value: siteSub noprint

value: jump-to-nav mw-jump

attr: href title

attr: role class

value:
note
hatnote navigation-not-searchable

tag: img

attr: alt src width height srcset data-file-width data-file-height

tag: td

tag: span

attr: class role tabindex

value: mw-collapsible-toggle button 0

tag: b

attr: class href

tag: i

tag: small

value: plainlinks metadata ambox ambox-style ambox-very_long

value: plainlinks metadata ambox ambox-content ambox-condense

value:
/wiki/Wikipedia:Encyclopedic_style
mw-redirect
Wikipedia:Encyclopedic style

value: plainlinks metadata ambox ambox-style ambox-essay-like

value: Help:Introduction to referencing with Wiki Markup/1

value: plainlinks metadata ambox ambox-content ambox-Refimprove

value:
mw-collapsible
width:95%; margin: 0.2em 0;

value: plainlinks metadata ambox ambox-content ambox-multiple_issues compact-ambox

value: padding:0.2em 0.4em 0.2em;font-size:145%;line-height:1.2em;font-size: 130%; background: #ddf;

value: padding:0.3em 0.4em 0.3em;font-weight:bold;border-top: 1px solid #aaa; border-bottom: 1px solid #aaa;border:none;

value: font-size:105%;background:transparent;text-align:left;background: #eef; text-align: center;

value: font-size: 105%; padding: 0.2em 0px 0.4em; text-align: center; display: none;

value: float:right;clear:right;width:22.0em;margin:0 0 1.0em 1.0em;background:#f9f9f9;border:1px solid #aaa;padding:0.2em;border-spacing:0.4em 0;text-align:center;line-height:1.4em;font-size:88%

value:
/wiki/Exchange_(economics)
mw-redirect
Exchange (economics)

value:
/wiki/Value-based_marketing
mw-redirect
Value-based marketing

value:
/wiki/Social_sciences
mw-redirect
Social sciences

value: The material near this tag failed verification of its source citation(s). (November 2017)

value:
/wiki/Consumer_demand
mw-redirect
Consumer demand

value:
/wiki/Business_entity
mw-redirect
Business entity

value: Edit section: Societal marketing orientation

value: Edit section: The marketing mix or the 4 Ps

attr: alt src width height class srcset data-file-width data-file-height

value:
/wiki/Neil_Borden
mw-redirect
Neil Borden

value:
/wiki/Promotional_education
mw-redirect
Promotional education

value:
/wiki/Branded_entertainment
mw-redirect
Branded entertainment

value: Edit section: Criticisms of the four P-model

value: Edit section: Modifications and extensions to the marketing mix (4 Ps)

value:
/wiki/PESTLE_analysis
mw-redirect
PESTLE analysis

value: Edit section: The Marketing Research Process

value: Edit section: The purposes of market segmentation

value: Edit section: Overview of segmentation process

value: Marketing communications planning framework

value: Edit section: Marketing communications "mix"

value: Edit section: Marketing planning process

value: Edit section: Levels of marketing objectives within an organization

value:
/wiki/Internal_marketing
mw-redirect
Internal marketing

value:
/wiki/Online_marketing
mw-redirect
Online marketing

value:
/wiki/Market_segment
mw-redirect
Market segment

value:
/wiki/Sex_in_Advertising
mw-redirect
Sex in Advertising

value:
/wiki/Marketing_Management
mw-redirect
Marketing Management

value:
/wiki/Production_orientation
mw-redirect
Production orientation

value: -moz-column-width: 15em; -webkit-column-width: 15em; column-width: 15em;

value:
/wiki/Destination_marketing
mw-redirect
Destination marketing

value: Edit section: Marketing orientations or philosophies

value:
nofollow
external text
https://www.jstor.org/stable/1251988

value: -moz-column-width: 30em; -webkit-column-width: 30em; column-width: 30em; list-style-type: decimal;

value:
/wiki/Harvard_Business_School_Press
mw-redirect
Harvard Business School Press

value:
nofollow
external text
https://www.questia.com/read/108525510

value:
plainlist
padding:0 0.1em 0.4em;text-align:left;

value: float:right;clear:right;width:auto;margin:0 0 1.0em 1.0em;background:#f9f9f9;border:1px solid #aaa;padding:0.2em;border-spacing:0.4em 0;text-align:center;line-height:1.4em;font-size:88%

value: Burning of books and burying of scholars

value:
/wiki/Charm_offensive
mw-redirect
Charm offensive

value: nowraplinks collapsible collapsed navbox-inner

value:
nofollow
external text
https://d-nb.info/gnd/4037589-4

value: Category:Promotion and marketing communications

value: Category:Articles that may be too long from January 2018

value: Category:Articles needing cleanup from January 2018

value: Category:Wikipedia articles needing style editing from January 2018

value: Category:All articles needing style editing

value: Category:Articles needing additional references from February 2008

value: Category:All articles needing additional references

value: Category:Articles with multiple maintenance issues

value: Category:All articles with failed verification

value: Category:Articles with failed verification from November 2017

value: Category:Wikipedia articles with LCCN identifiers

value: Category:Wikipedia articles with GND identifiers

value: Discussion about edits from this IP address [ctrl-alt-n]

value: A list of edits made from this IP address [ctrl-alt-y]

value: You are encouraged to create an account and log in; however, it is not mandatory

value: You're encouraged to log in; however, it's not mandatory. [ctrl-alt-o]

value:
/wiki/Marketing
View the content page [ctrl-alt-c]
c

value: Discussion about the content page [ctrl-alt-t]

value: p-namespaces navigation vectorTabs p-namespaces-label

value:
p-variants
navigation
vectorMenu emptyPortlet
p-variants-label

value: Past revisions of this page [ctrl-alt-h]

value: p-views navigation vectorTabs p-views-label

value:
p-cactions
navigation
vectorMenu emptyPortlet
p-cactions-label

value:
mw-wiki-logo
/wiki/Main_Page
Visit the main page

value:
/wiki/Main_Page
Visit the main page [ctrl-alt-z]
z

value: Featured content – the best of Wikipedia

value: Find background information on current events

value:
/wiki/Special:Random
Load a random article [ctrl-alt-x]
x

value: portal navigation p-wikibase-otherprojects p-wikibase-otherprojects-label

value:
uls-settings-trigger
Language settings
0
button
true

value:
https://af.wikipedia.org/wiki/Bemarking
Bemarking – Afrikaans
af
af
interlanguage-link-target

value: تسويق – Arabic

value:
https://an.wikipedia.org/wiki/Marketing
Marketing – Aragonese
an
an
interlanguage-link-target

value:
https://az.wikipedia.org/wiki/Marketinq
Marketinq – Azerbaijani
az
az
interlanguage-link-target

value: বিপণন – Bangla

value: Маркетынг – Belarusian

value: Маркетынг – Belarusian (Taraškievica orthography)

value: Маркетинг – Bulgarian

value:
https://bs.wikipedia.org/wiki/Marketing
Marketing – Bosnian
bs
bs
interlanguage-link-target

value:
https://cs.wikipedia.org/wiki/Marketing
Marketing – Czech
cs
cs
interlanguage-link-target

value:
https://co.wikipedia.org/wiki/Marketing
Marketing – Corsican
co
co
interlanguage-link-target

value:
https://cy.wikipedia.org/wiki/Marchnata
Marchnata – Welsh
cy
cy
interlanguage-link-target

value:
https://de.wikipedia.org/wiki/Marketing
Marketing – German
de
de
interlanguage-link-target

value:
https://et.wikipedia.org/wiki/Turundus
Turundus – Estonian
et
et
interlanguage-link-target

value: Μάρκετινγκ – Greek

value:
https://eo.wikipedia.org/wiki/Merkatiko
Merkatiko – Esperanto
eo
eo
interlanguage-link-target

value:
https://eu.wikipedia.org/wiki/Marketin
Marketin – Basque
eu
eu
interlanguage-link-target

value: بازاریابی – Persian

value:
https://fr.wikipedia.org/wiki/Marketing
Marketing – French
fr
fr
interlanguage-link-target

value: માર્કેટિંગ – Gujarati

value: Մարքեթինգ – Armenian

value: विपणन – Hindi

value:
https://hr.wikipedia.org/wiki/Marketing
Marketing – Croatian
hr
hr
interlanguage-link-target

value:
https://io.wikipedia.org/wiki/Merkatado
Merkatado – Ido
io
io
interlanguage-link-target

value:
https://id.wikipedia.org/wiki/Pemasaran
Pemasaran – Indonesian
id
id
interlanguage-link-target

value:
https://it.wikipedia.org/wiki/Marketing
Marketing – Italian
it
it
interlanguage-link-target

value: שיווק – Hebrew

value: ವ್ಯಾಪಾರೋದ್ಯಮ – Kannada

value: მარკეტინგი – Georgian

value: Маркетинг – Kazakh

value:
https://lt.wikipedia.org/wiki/Rinkodara
Rinkodara – Lithuanian
lt
lt
interlanguage-link-target

value:
https://hu.wikipedia.org/wiki/Marketing
Marketing – Hungarian
hu
hu
interlanguage-link-target

value: Маркетинг – Macedonian

value:
https://ms.wikipedia.org/wiki/Pemasaran
Pemasaran – Malay
ms
ms
interlanguage-link-target

value: Маркетинг – Mongolian

value: ဈေးကွက်ထိုးဖောက်ခြင်း – Burmese

value:
https://nl.wikipedia.org/wiki/Marketing
Marketing – Dutch
nl
nl
interlanguage-link-target

value: बजारशास्त्र – Nepali

value: विपणन – Newari

value: マーケティング – Japanese

value:
https://uz.wikipedia.org/wiki/Marketing
Marketing – Uzbek
uz
uz
interlanguage-link-target

value: بازارموندنه – Pashto

value:
https://jam.wikipedia.org/wiki/Maakitin
Maakitin – Jamaican Creole English
jam
jam
interlanguage-link-target

value:
https://pl.wikipedia.org/wiki/Marketing
Marketing – Polish
pl
pl
interlanguage-link-target

value:
https://pt.wikipedia.org/wiki/Marketing
Marketing – Portuguese
pt
pt
interlanguage-link-target

value:
https://ro.wikipedia.org/wiki/Marketing
Marketing – Romanian
ro
ro
interlanguage-link-target

value: Маркетинг – Russian

value: Маркетинг – Sakha

value:
https://sc.wikipedia.org/wiki/Marketing
Marketing – Sardinian
sc
sc
interlanguage-link-target

value:
https://sco.wikipedia.org/wiki/Mercatin
Mercatin – Scots
sco
sco
interlanguage-link-target

value: අළෙවිකරණය – Sinhala

value:
https://sk.wikipedia.org/wiki/Marketing
Marketing – Slovak
sk
sk
interlanguage-link-target

value: Маркетинг – Serbian

value:
https://sh.wikipedia.org/wiki/Marketing
Marketing – Serbo-Croatian
sh
sh
interlanguage-link-target

value:
https://tl.wikipedia.org/wiki/Pamimili
Pamimili – Tagalog
tl
tl
interlanguage-link-target

value: சந்தைப்படுத்தல் – Tamil

value: విపణీకరణ – Telugu

value: การตลาด – Thai

value:
https://tr.wikipedia.org/wiki/Pazarlama
Pazarlama – Turkish
tr
tr
interlanguage-link-target

value:
https://tk.wikipedia.org/wiki/Marketing
Marketing – Turkmen
tk
tk
interlanguage-link-target

value: Маркетинг – Ukrainian

value:
https://vi.wikipedia.org/wiki/Marketing
Marketing – Vietnamese
vi
vi
interlanguage-link-target

value:
https://wa.wikipedia.org/wiki/Vindince
Vindince – Walloon
wa
wa
interlanguage-link-target

value: מארקעטינג – Yiddish

value: mediawiki ltr sitedir-ltr mw-hide-empty-elt ns-0 ns-subject page-Marketing rootpage-Marketing skin-vector action-view