CIM Revision Cards: Marketing Fundamentals 04 05, First Edition (Cim Revision Cards)

118 Pages·2005·1.99 MB·English

by  Marketing Knowledge

CIM
Marketing Fundamentals
04/05
PROFESSIONAL CERTIFICATE IN MARKETING
REVISION CARDS
2004–2005 SYLLABUS
Key concepts for revision
● Relevant!
● Succinct!
● Compact!
The Chartered
InstituteofMarketing
Helping you to pass your CIM exam
CIM REVISION CARDS
Marketing Fundamentals
Maggie Jones
AMSTERDAM l BOSTON l HEIDELBERG l LONDON l NEW YORK l OXFORD
PARIS l SAN DIEGO l SAN FRANCISCO l SINGAPORE l SYDNEY l TOKYO
ElsevierButterworth-Heinemann
LinacreHouse,JordanHill,OxfordOX28DP
30,CorporateDrive,Burlington,MA01803
Firstpublished2004
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TABLE OF CONTENTS
Preface............................................................................ iv
1. Thedevelopment ofmarketing and marketing orientation.................. 1
2. Marketing planning andbudgeting............................................. 15
3. Product ............................................................................ 33
4. New product development andportfolio management....................... 47
5. Price operations .................................................................. 57
6. Placeoperations.................................................................. 70
7. Promotional operations .......................................................... 82
8. Servicesand customercare .................................................... 96
9. Marketing incontext.............................................................104
PREFACE
WelcometotheCIMRevisionCardsfromElsevier/Butterworth–Heinemann.Wehopeyouwillfindtheseusefulto
revise for yourCIMexam. The cards aredesigned tobeused inconjunction withtheCIMCoursebooks from
Elsevier/Butterworth–Heinemann, andhave been writtenspecifically withrevision inmind. Theyalso serve as
invaluable reviews ofthe complete modules, perfectfor those studyingviathe assignment route.
n Learningoutcomes atthe startofeach chapter identify themain points
n Key topicsare summarized, helpingyoucommit theinformation to memory quicklyandeasily
n Examinationand revision tips areprovided to giveextra guidance whenpreparing for theexam
n Key diagrams arefeatured to aid thelearning process
n Thecompact size ensuresthe cards areeasily transportable, so youcanrevise any time, anywhere
Togetthemost of yourrevision cards, tryto look over them as frequentlyas youcan whentaking yourCIM
course. Whenread alongsidethe Coursebook they serve astheideal companion to themaintext. Good luck
– wewish youevery success withyour CIMqualification!
THE DEVELOPMENT OF
Unit 1
MARKETING AND MARKETING
ORIENTATION
LEARNING OUTCOMES
(cid:1)Understanding thedevelopment of marketing (cid:1)Understand the roleof marketing in
as anexchangeprocess and abusiness coordinating organizational resources
philosophy (cid:1)Understand the impactof marketing actions
(cid:1)Recognizing thecontribution ofmarketing to upon society andtheneed toact inasocially
createcustomervalueandcompeteeffectively responsible manner
(cid:1)Appreciate theimportance of marketing (cid:1)Appreciate thesignificance of thebuyer–seller
orientationandidentifythefactorsthatpromote relationship and theroleof relationship
and impede itsadoption marketing inretaining customers
SyllabusReference: 1.1–1.6
MARKETINGFUNDAMENTALS 1
THEDEVELOPMENTOFMARKETINGANDMARKETINGORIENTATION 2
KEY REVISION POINTS
(cid:1)The importanceof amarketing orientated
cultureto theeffective implementation of
marketing strategies within theorganization
(cid:1)Understanding thedynamics ofthebuyer–
seller relationship acrossa rangeof industry
sectors
(cid:1)Understanding therole of ICTinfurther
development ofmarketing orientation
(cid:1)The importanceof internalmarketing in
building and sustaining amarketing culture
within theorganization
What is Marketing?
Themanagementprocess whichidentifies, anticipates andsatisfies customerrequirements
efficientlyandprofitably
n Centralfocus isthecustomer Marketing isabout creating amutually beneficial
n Aimisto satisfytheirneeds exchange(Dibb et al.)determined by
n Encompassesselling, researchingmarkets n Twopartiesmustparticipate
andattracting andretaining customers n Eachpartymust possesssomething of value
n Requires aset of management activitiesto be n Bothparties mustbewillingto exchange
inplaceto enable organization to compete n Usuallyinvolves exchangingmoney for goods
andservices
TheMarketing Conceptputsthecustomer at thecentre ofall businessdecision-making. An organization
withthis approach issaidto bemarketing orientated to have a marketing culture.
MARKETINGFUNDAMENTALS 3
THEDEVELOPMENTOFMARKETINGANDMARKETINGORIENTATION 4
The Development of Marketing Factors underpinning further development
Orientation n Customersare bettereducated and
knowledgeable, exercising more power
1900–1930ProductionOrientation–focusedonwhat
theorganizationcanproduce,notifthereisaneedfor n Higher disposable income available
whatcan beproduced n Overcapacityof goods andservices
1930–1960Selling Orientation– focused on n Emergence ofglobal brandsvia bettertravelled
persuadingcustomerstobuythroughusingsellingand customersand increased information
promotion n Better quality information enables closer
1960–presentdayMarketingOrientation–identifies segmentation and targeting
whatthe customerwants andattempts to satisfy n Increased channelsto market
thoseneedsbetterthanthecompetitionandwithinthe
organizational capabilities
MarketingCulture– the firststepto developing a
marketing culturewithin anorganization istoensure
allemployees at alllevels andfunctions have the
abilityand information to ‘thinkcustomers’
MARKETINGFUNDAMENTALS 5