4.1 Role of Marketing
Keep a Personal Checklist:
Define marketing and understand its relationship with other business functions [AO1]
Explain the difference between the marketing of goods and the marketing of services [AO2]
Distinguish between market orientation and product orientation [AO2]
Explain the difference between commercial marketing, social marketing and social media marketing [AO2]
Describe the elements that characterize the market in which an organization operates [AO2]
Calculate market share [AO4]
BE A CRITICAL THINKER: [AO3]
Discuss the importance of market share and market leadership
Compare and contrast the marketing objectives of for-profit organizations and non-profit organizations
Evaluate how marketing strategies evolve as a response to changes in customer preferences
Examine how the concepts of innovation, ethics and culture influence marketing practices and strategies.
Goods, Services, and Some...
There are similarities and differences in the marketing of goods and services. For example, both use promotion to build brand brand awareness and brand loyalty.
Other than products and services...what else do marketers market?
