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Introduction2020/2021 -Principles of MarketingIntroductionProfessor Julien Schmitt
MDefinition of Marketing2020/2021 -Principles of MarketingMValue CreationMThe Marketing FrameworkMThe Marketing Plan
Principles of MarketingMarketing is omnipresent in our lives. We interact with brands in manyaspects of our daily lives: when we decide what to eat/drink, where live,how we interact with others, how we dress when we shop, when we chillout in front of the TV set… We are influenced by marketing. Marketingeven has an impact on what we think and how we vote!Moreover, some studies show that about 25% of the price of theproducts/services we frequently buy actually covers marketing expenses.And 25% to 33% of the jobs in the US are related to marketing functions.When you leave ESCP Europe, one third of you will find a job inmarketing.2020/2021 -Principles of MarketingIt is therefore critical to understand what marketing is and how itworks.
Definition of MarketingThe definition of marketing has evolved along the years, as shown in thetable below, derived from Bovsen et al. (2013).2020/2021 -Principles of MarketingThese successive definitions of marketing represent the evolutionof companies’ orientation toward the marketplace, moving froma production orientation toward a sustainable marketingorientation.Production orientation: In the early age of business, companies werefocusing on developing products (either widely available andinexpensive ones or higher quality ones from break-throughinnovations). For both options, products were often standardized(example: Ford K) and the focus was put on production and assemblyline refinement. Profits were generated through production controls.
Definition of MarketingSelling Orientation: As competition grows, it becomes more and moredifficult to sale products and services to consumers. The organizationmust therefore undertake an aggressive selling and promotion effort.Companies intensify their efforts on delivering the product to theconsumer: finding the best channels and the best price to convinceconsumers to buy.Marketing Orientation: In both previous orientations, focus was puton the need of the producer. The marketing concept emerged in themid-50’s. Instead of a product-centered, “make-and-sell” philosophy,2020/2021 -Principles of Marketingmid-50’s. Instead of a product-centered, “make-and-sell” philosophy,business shifted to a consumer-centered philosophy. The aim is nowto understand consumers’ needs and differentiate from competitorsin order to create, deliver and communicate superior consumer value.Sustainable Marketing Orientation: Today, companies cannot ignorethe fact that their activity has a crucial impact on their environmentand other stakeholders, often defined as society at large. Theproduction of products and services uses natural resources andenergy, products and communication messages have an impact onsociety and perceptions of different groups and minorities withinsociety, a huge amount of wastes is created in the process, well-beingof consumers and employees is considered as more and moreimportant by consumers. All these issues that companies have to takeinto account are often referred to as “sustainable development”.

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Marketing, Professor Julien Schmitt

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