Final year university exams are coming up and since I am heavily revising I figured the best thing to do would be to post some of the mind maps I’ve made, so that I can share my thoughts on some of the topics I’ve covered and to serve as a revision aid to anyone who is interested. I created these mind maps with bubbl.us, a great, really intuitive web-app for creating mind maps; for all of them I will be including read-only version and a link to the .jpeg for printing.
Before going back to Review the Marketing Concept (for my Contemporary Issues in Marketing class) it hadn’t quiet clicked that marketing was more than “the management process for identifying, anticipating and satisfying customer requirements profitably” that the Chartered Institute of Marketing states. It is
“so basic that it cannot be considered as a seperate function on a par with others such as manufacturing or personnel. It is first a central dimension of the entire business. It is the whole business seen from the point of view of its final result, that is from the customer’s point of view” – Drucker (1973)
I have always been a big advocate as marketing/customers as the most central element of the business but didn’t realise that some elements of academic literature did reflect on marketing as a (the?) central business philosophy.
An another important issue which Kotler highlighted in 1997 and which is even more important now is;
“…the marketing concept sidesteps the potential conflicts between consumer wants, consumer interests and long-run social welfare”
However with increasing consumer emphasis on environmental issues marketers will have to include society’s wellbeing when considering needs and wants if they intend to use marketing as a path to profitability. So while Friedman argued “the business of marketing is business” it seems that if marketing wants a business to market it had better satisfy customers “in a way that preserves or enhances the consumer’s and the society’s wellbeing” – Kotler(1997).
Drucker, Peter F. (1974) Management: Tasks, Responsibilities, Practices. Heinemann, London.
Kotler, Phillip (1997) Marketing Management, 9th Ed. Prentice Hall International, Inc