Branded

Ed Thrush 08-13-2010

Mid Term

Dr. Edward Ramirez

Marketing 5351

Source: Kottler and Keller Marketing Management class notes discussions

Since the 1950’s there has been a revolution in thought and strategy about how do we most effectively add value and maximize sales through a “sense and respond” philosophically based marketing concept that evolved from a “make and sell” model. Marketing is an ever evolving science, art fully applied. Marketing is flexible as art, creativity in communicating a need for your product to a customer is rewarded with sales and loyalty.” Meeting needs profitably” as Kottler and Keller say in Chapter One is as succinct as it gets. Marketing Management is crucial to the health of a company. If the product and distribution is the lifeblood blood of the business’s circulatory system, marketing is the pump, the heart that drives that blood through the system; something so very important to the health of the business cannot be left for minor leaguers to manage. This calls for a position that usually reports to the CEO. CMO’s, and Marketing Managers lead there organizations in seeking out ways to influence demand for our products by strategizing methods to use all available media to maximize invested advertising dollars to drive the eight states of demand: declining and negative, unwholesome , overfull and full, nonexistent, negative, latent and declining, all to meet the organizations sales and profit objectives. Successful marketing will challenge the company’s growth plans and spur innovation and inward reflection as new markets are identified and existing markets maximized by horizontal penetration as well as product diversification strategies. The competitive marketplace is constantly raising the bar on marketing executives who must concentrate on the five key functions( Strengthen brands, measuring marketing effectiveness, identifying customer needs, gathering meaningful insight on customers and competitors...