Product, Place and Promotion) Approach to Marketing versus the Value Approach (Creating, Communicating, and Delivering Value) Anonymous University of the People Principles of Marketing BUS 2201 Abstract The commonly accepted definition of marketing introduced the concept of marketing, using the four Ps approach to marketing and the value approach. However, many students of marketing have erroneously assumed the four Ps as the same as the Value Marketing approach. In this paper, it will be proper
It is so important for a company to decide what type of approach they want to take when they are marketing their product/services. It is first important to understand the different approaches that make up the 4-P approach to marketing versus the value approach. When using the 4-P style the company will most likely be concerned with the price, product, promotion, and place. The price will be a major focus point because it is important that you can compete with any competition that may be selling
4P versus the Value Approach to the Marketing Abdullah Makhdum University of the People 4P versus the Value Approach to the Marketing In this essay, I am going to compare and contrast a 4P (price, product, place and promotion) approach to marketing versus the value approach (creating, communicating, and delivering value). Furthermore, explaining the sameness and difference of two companies who apply the 4P marketing approach or the value approach. In fact, 4Ps and the value marketing approach
are two main approaches that are used by companies: the Marketing approach, named 4Ps (Product, Price, Promotion, and Place) and the Value approach (creating, exchanging, Communicating, and Delivering). The first target accent on the product and the second target the customer. The advancement of technology has changed the way to promote products. There has been a shift from a traditional approach where the product was showcased to a new approach centered on the customer and his needs. For some companies
services. It has been one of the important and most popular research topics since 1960s to understand whether standardization is better or adaptation for marketing mix in international marketing. The increasing role of international expansion of business across the borders has also increased the focus of companies towards the international marketing strategies. It is also a biggest challenge for companies to better understand the different needs and choice of customers due to the huge differences among
and differences between 4-P (price, product, place and promotion) approach to marketing versus the value approach (creating, communicating and delivering value). Furthermore, explaining the sameness and difference of two companies who apply the 4P marketing approach or the value approach. In fact, 4-Ps and the value market approach correlated because both of the approaches are used for similar aims and goals. The four Ps approach was introduced in the early 1950s which refers to product, price,
International Advertising: Theory & Approach International advertising is becoming more complex due to the varieties in both the theoretical approach and application. is a complex concept that varies drastically in both theoretical approach and application. The emerging global consumer culture is affecting international marketing theories and in return, international promotional mix decisions. American culture is dominating the global markets due to the use and application of international advertising
Question 2: examples of companies marketing activities adapted to fit different countries/ analyse/ no individual country specific When going global, and in order to succeed in international business, understanding consumer behaviours based on their values and perception of other countries is key for implementing a proper winning marketing strategy. Cultural dimensions help managers and multinational companies respond effectively and positively to values and behaviours that shape a given nation and
future will take the organization beyond simple productivity changes. Implementing Lean Kaizen in the Heinz Ketchup sales and marketing process can help reduce costs of sales and increase sales growth by eliminating non-value adding activities from the process.
Bucklin, & Koen Pauwels Effects of Word-of-Mouth Versus Traditional Marketing: Findings from an Internet Social Networking Site The authors study the effect of word-of-mouth (WOM) marketing on member growth at an Internet social networking site and compare it with traditional marketing vehicles. Because social network sites record the electronic invitations from existing members, outbound WOM can be precisely tracked. Along with traditional marketing, WOM can then be linked to the number of new members