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Foundations Of Marketing Jobber Fahy Pdf



 


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and there is a complex dynamic of how advertising influences retail price: those who are more exposed to advertising by virtue of their position within an industry tend to pay higher prices; competition in a market creates a price ceiling, which firms actually charged and tended to lead to profits being invested on increasing market share. Marketing accounts for a large share of output (approximately 50%) and is therefore very important for the economic profitability of the firm. However, the idea of marketing is not new: it has been around since at least the Middle Ages, and the term itself is widely used throughout the world (see, e.g., Burkett and Burgett,). 2. It is generally accepted that marketing is just one aspect of marketing; rather, it is part of a set of tactics and strategies that firms use to create, maintain and exploit competitive advantage. Marketing management is the strategic part of the marketing management, in which marketers' objectives and activities are guided by (i.e., should aim to achieve) the strategic business objectives of the firm. The remaining part, operational management, includes all the aspects that influence the actual operations of the firm in the short and long term.3. 4. There are a number of conceptual models of marketing management. The main marketing-management models are the Balanced Scorecard model (Eisenhardt and Collison,), the 3. Grossman, 221. 4. Ibid. 2004 economic conception (Martin and Green ; Atal and Breton ) and the Porter's 5-forces model (Porter ). The most basic models of marketing management tend to see marketing as a uni-directional process of managing an environment in order to influence behavior. This happens in two ways. First, the firm controls the demand side (or demand-side managers) through strategic communications and public relations. This may be one of the ways to influence demand. Second, the firm controls the supply side (or supply-side managers) by defining the product and its distribution channels, product differentiation, price and advertising strategy. There are a number of approaches to marketing management (Table 2.1). Marketers who are involved in traditional marketing studies assume that understanding the demand and supply conditions and constraints is their most important task. However, some of them have started to take into account the influence of a firm's own behavior on the environment, which leads to a shift from the conventional theories to a more strategic view of marketing management. This shift has been made from a uni-directional perspective to a more interactive view of marketing management.

 

 


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Foundations Of Marketing Jobber Fahy Pdf

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