Evaluation of marketing concept pdf

The benefits of asking and answering evaluation questions depend on how clear you are about the purpose of your evaluation, who needs to know what when, and the resources you have available to support the evaluation process. Evaluating marketing performance guides future marketing initiatives and helps a company achieve its goals. Having a framework increases your evaluations effectiveness by focusing in on. Marketing concepts relate to the philosophy a business use to identify and fulfill the needs of its customers, benefiting both the customer and the. Respondents complete full evaluations for multiple concepts. Trends and challenges georgine fogel, salem international university introduction measurement, evaluation, and effectiveness have become increasingly important in marketing as advertisers and marketers are being held more accountable than ever before. Rigorous analysis of completed or ongoing activities that determine or support management accountability, effectiveness, and efficiency. They must balance and juggle the often conflicting criteria of company profits, consumer want satisfaction, and public interest. Provide benchmarks and assess progress against strategic and business objectives. Thus, marketing concept is the way of life in which all the resources of an organisation are mobilized to create, stimulate and satisfy the consumer at a profit. Marketing initiatives cannot just be launched and left to sink or swim on their own. These principles help the business to achieve its predefined goals.

Therefore, marketers are facing the reevaluation of marketing strategy. It represents a distinct philosophy of business and considers marketing more than a physical process. The old view of marketing concentrated totally on the functions of distribution of goods and commodities. In order for you to determine whether or not a marketing plan is worth the investment of money and man hours, you need to have good marketing evaluation techniques. For example production concept deals with production and selling concept deals with selling.

While the marketing mix concept remains an important framework for the western world, its contribution towards the latter. They must be monitored in a variety of ways so they deliver the maximum benefits possible while eliminating costly errors. Sales one of the more important techniques you will use to measure the effectiveness of your marketing plans is to measure how a marketing program affects sales, according to stuart ayling, writing on the marketing. Evaluation of current or on going activities is called interm. Evaluation definition of evaluation by the free dictionary. Hi the impact of marketing concept in union bank is high.

The marketing concept as a business philosophy is traced from its origins as a business belief where efficient production was the emphasis to the current belief which emphasizes customer needs as. It can assist an organization, program, design, project or any other intervention or initiative to assess any aim, realisable concept proposal, or any alternative, to help in decisionmaking. The marketing mix comprises of four key elements i. The marketing concept, a crucial change in management philosophy, can be explained best by the shift from a sellers market one with a shortage of goods and services to a buyers market one with an abundance of. In the past, various innovations, growth of mass communication, competition in. Nist sp 500322 evaluation of cloud computing services based on nist 800145.

Virtually all clients 95% of them according to the research carried out for this project evaluate the effectiveness of their communications expenditure. Dmc and measurement and evaluation in integrated marketing. According to holistic marketing concept, even if a business is made of various departments, the departments have to come together to. Marketing concept includes the marketing research, market segmentation, and marketing mix. The concept of marketing accordingly depends on three key perspectives 1 what is the target market the first step is to focus precisely which the object market is.

Pdf the concept of marketing has been debated and evaluated regularly since marketing was recognised as a distinctive discipline and. An evaluation of marketing strategies undertaken by coca. This chapter provides an overview of key concepts, and details. The societal marketing concept calls upon marketers to build social and ethical considerations into their marketing practices. Evaluation is a process of making value judgements over a level of performance or achievement.

Evaluation of completed activities is called expost evaluation, posthoc evaluation, or summative evaluation. The sales concept is preoccupied with the sellers need to convert hisher product into cash. In fact, 84% of clients said evaluation was as important to them as getting good creative work in the. The philosophy of an organisation in the dynamic realm of marketing is referred to as a marketing concept. Process evaluation measures effort and the direct outputs of programsinterventions what. Evaluation of marketing mix principles marketing essay. Iran abstract marketing is a process that affect our lives. Internal evaluation should be conducted on an ongoing basis and applied conscientiously by managers at every level of an organization in all program areas. Businesshotel karelia abstract the economic which crisis started at the end of 2014 in russia affected the hospitality industry significantly, the amount of tourists decreased, and issues of customer satisfaction and new cus. An evaluation of marketing strategies undertaken by coca cola. The marketing concept focuses on the needs of the buyer. According to carl rogers, founder of clientcentered therapy, selfconcept is an overarching construct that selfesteem is one of the components of it mcleod, 2008. Marketing involves satisfying customer needs or desires.

They must be monitored in a variety of ways so they deliver the maximum benefits possible while. Ryanair as a successful business enterprise also embraces the concept of marketing mix. Pdf this work is part of a larger study on market orientation and business performance. The job is not to find the right customers for your product but to find the right products for your customers. Ho the impact of marketing concept in union bank is low. How the marketing concept has been defined 19602009 in critically evaluating. Evolution of marketing conceptproduction conceptproduct conceptselling conceptmarketing concept 5. Each of the concept was developed as per the need of the market. It is knowing about ones own tendencies, thoughts, preferences and habits, hobbies, skills, and areas of weakness. Marketing is a buyeroriented process involving the creation, communication, and delivery of value even as it strives to build and retain lifetime customer loyalty. Introduction to marketing concepts mba crystal ball.

Feb 25, 2009 segmentation and marketing mix 4 ps strategies. Because evaluation is a vital part of the marketing communications process. An evaluation of marketing strategies undertaken by coca cola company as a multinational corporation in nigeria 1danjuma naisla hassan, 2 audu anyesha amos 3omaku angulu abubakar 1department of general studies, nasarawa state polytechnic lafia. Evaluation constitutes part of an ongoing cycle of program planning, implementation, and improvement patton, 1987. The product aspect of marketing refers to all activities relating to the product development, ensuring that there is a market for the product.

There are different areas of a marketing plan that can indicate whether or not the program was successful. Marketing concepta philosophy that achievingorganizational goals depends onknowing the needs and wants oftarget market and delivering thedesired satisfaction better thancompetitors do. In other words, marketing mix is the means by which marketing ideas and strategies of an organization are achieved brassington and pettitt 2006. The five marketing concepts are a good example of how marketing has changed throughout the. The overall evaluation of a businesss strengths, weaknesses, opportunities. Evaluation contributes to learning through both the process and the final product or evaluation report. It originated as a response to fundamental changes in the current marketing environment demographic changes, globalization, hypercompetition, internet development, corporate social responsibility, etc.

In addition, all of the programs participants managers, staff, and beneficiaries should be involved in the evaluation process in appropriate ways. The marketing concept is preoccupied with the idea of satisfying the needs of the customer by means of the product as a solution to the customers problem needs. Evaluation results can be used to maintain or improve program quality and to ensure that future planning can be more evidencebased. There are 5 different concepts of marketing, each of which vary in the function that they deal with. Monitoring and evaluation also both serve accountability purposes.

Trends and challenges georgine fogel, salem international university introduction measurement, evaluation, and effectiveness have become increasingly important in marketing as advertisers and marketers are. The marketing concept is the strategy that firms implement to satisfy customers needs, increase sales, maximize profit and beat the competition. The process in itself is tied around the satisfaction of customers needs and wants. These elements are utilized to satisfy the target market and potential customers. Marketing is simply the performance of business activities that direct the. The flow of goods from producer to the consumer is salesoriented, aiming to maximize the profits through maximizing the sales. Holistic marketing concept explained with examples. Increasingly, evaluation processes are used that foster wider participation, allow dialogue, build consensus, and create buyin on recommendations. Introduction to marketing concepts read on to get a quick introduction to marketing. As the market changed, so did the concepts of marketing. It suggests ways to incorporate communications monitoring, evaluation and learning into projects and programmes, and can be adapted as needed. The marketing concept is a customercentered sense and responds philosophy. Marketing performance metrics or key performance indicators kpis are useful.

Jun 03, 20 evolution of marketing conceptproduction conceptproduct conceptselling conceptmarketing concept 5. Evolution of marketing concept linkedin slideshare. Marketing concept approach consumers want to see the products meet their wants and needs more than the competition. Using your logic model to plan for evaluation t hinking through program evaluation questions in terms of the logic model components you have developed can provide the framework for your evaluation plan. It can assist an organization, program, design, project or any other intervention or initiative to assess any aim, realisable conceptproposal, or any alternative, to help in decisionmaking. Sep 07, 2018 holistic marketing concept is a part of the series on concepts of marketing and it can be defined as a marketing strategy which considers the business as a whole and not as an entity with various different parts. As we know, the concept of marketing is constantly redefined. Evaluation is a systematic determination of a subjects merit, worth and significance, using criteria governed by a set of standards. Holistic marketing concept holistic marketing concept is probably the newest approach to marketing and the latest business concept. Evaluation is a concept that has emerged as a prominent process of assessing, testing and measuring. As this document is meant to provide guidance in understanding the categorization, evaluation, comparison, and selection of cloud services, it does not provide a prescriptive set of guidelines for the selection process. The overall framework may be a useful way to plan communications mel. This can be achieved by market research and choosing which, the target business sector, will give the best returns. We are consumers, but many of us are part of marketing like salespersons, wholesalers, rivals, raw material suppliers and so force.

Concept of evaluation and its principles wikieducator. This work is part of a larger study on market orientation and business performance. An evaluation of marketing strategies undertaken by coca cola company as a multinational. Evaluation is a systematic process to understand what a program does and how well the program does it.

It can be produced at an affordable and competitive price. Definition evaluation is a process of making judgements to be used as a basis for planning. They are critical tools for forwardlooking strategic positioning, organisational learning and for sound management. Businesshotel karelia abstract the economic which crisis started at the end of 2014 in russia affected the hospitality industry significantly, the amount of tourists decreased, and issues of. Respondents complete a full evaluation of a single concept. Evaluating marketing performance boundless marketing. Concept selection and evaluation comparative monadic. Relationship marketing orientation is a refinement of the marketing concept. In fact, 84% of clients said evaluation was as important to them. Ideally, marketing performance measurement should be a logical extension of the planning and budgeting exercise that happens before a companys fiscal year. Overview of the newproduct development process principles. Marketing conceptapproach consumers want to see the products meet their wants and needs more than the competition. Process evaluation measures effort and the direct outputs of programsinterventions what and how much was accomplished i. This was the first soda dispenser that was able to mix the carbonated water.

Evaluation of cloud computing services based on nist 800145. Customer satisfaction evaluation and recommendations for a marketing communication. Insert focus areas into focus area column of evaluation questions development template for evaluation planning, exercise 4. For example, marketing planning includes market assessment which is the evaluation. The study focuses on the evaluation of the marketing concept in the banking industry with a case study of the effect of marketing concept in union bank plc. In the theoretical part, the thesis covers areas of marketing concepts and. Under the marketing concept, customer focus and value are the routes to achieve sales and profits. Marketing researchers and practitioners have identified several challenges of measuring and evaluating marketing effectiveness duncan, 2002. Once you have your evaluation techniques in place, you can start to fine tune your marketing plans to make them more productive. Small business marketing requires constant evaluation to ensure its success. Communications monitoring, evaluating and learning toolkit.