CIM Coursebook Marketing for Stakeholders
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Now in full colour and a new student friendly format, key information is easy to locate on each page. The only study materials to be endorsed by The Chartered Institute of Marketing CIM , all content is carefully structured to match the syllabus and is written in collaboration with the CIM faculty. Read full description.
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All listings for this product Buy it now Buy it now. Any condition Any condition. See all People who bought this also bought. About this product Product Information Endorsed by The Chartered Institute of Marketing CIM , this work includes a range of learning objectives, cases, questions, activities, definitions, study tips and summaries to support and test your understanding of the theory of marketing. It contains past examination papers and examiners' reports to enable you to practise what has been learned. The strategy of this book Figure 1.
Units 8—10 Figure 1. If the task is to write a marketing plan this does not imply there are 12 potential marketing plans; more that one of the listed contexts may apply.
The Stakeholder Balance Sheet: Profiting from Really Understanding Your Market
Thus, one could envisage a small charity wanting to provide medical assistance to a less-developed country. There are relatively few exclusions, for example, in the marketing of consumer goods; it might be thought that business-to-business B2B issues were not relevant.
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The implication of this is that there are over potential contexts for a marketing plan. It is not possible to write a book that provides an example of every type of marketing plan, letter, budget and so on. As shown in Figure 1. The ability to apply knowledge and synthesize solutions for a given marketing problem in context is an essential professional competence at this level.
The CIM assessments are designed to test your level of professional competence by exam or integrative assignment. Get the horse in front of the cart; the development of professional competence will enable you to pass the CIM 5 Unit 1 An overview of the marketing system assessments. Passing the assessment provides the evidence of having achieved the appropriate level of professional competence. Success in the assessment exam or integrative assignment comes from having previously developed competence.
Why an integrated view? A change in one part of the system had created a bug in another part of the system. In integrated marketing, plans and actions must be set in their appropriate contexts. A change in distribution may imply changes in the product e. A systems view of marketing One of the problems in medicine is that medical specialists get to know more and more about less and less.
Clearly, it is necessary to know how the heart works but this is part of a total system, the human body. Increasingly, it has become apparent that while understanding the individual components is important, an overview of the total patient is required. The same is true of marketing. Clearly, when implementing a marketing communications plan, a depth of understanding of advertising and the strengths and weaknesses of various media is required.
However, these decisions have to be made in the context of an integrated marketing mix that itself must integrate into an overall business plan. In this unit, we will take a brief tour of the total marketing system. In Unit 2, some of the contexts that shape the way we use the tools are reviewed e. B2B marketing is significantly different to marketing fast moving consumer goods FMCG to the general public. An overview of the marketing system is given in Figure 1. The organization operates in a marketplace, which consists of the buyers and users of the product.
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In the marketplace, buyers and users are influenced by other groups of people stakeholders ; so, even if parents are the buyers in a toyshop, the children for whom they are purchasing the toy are also relevant stakeholders. The behaviour of the marketplace is influenced by the microenvironment; in particular the competition and their competitive marketing mix offerings. In turn, the microenvironment is influenced by the macroenvironment.
The organization responds to the environment by continually adapting its internal environment. A SWOT analysis is one very useful tool for analysing the flood of information. The management team must define the broad mission, aims and objectives and decide the strategic stance to be adopted e.
In appraising situations, formulating 6 Unit 1 An overview of the marketing system alternatives and selecting management actions e. Boston BCG matrix is invaluable. The best marketing plan is worthless if the product is of poor quality or does not arrive in time. Marketing plans involve cash flows and so the financial implications are critical.
To implement marketing plans, the whole organization must be energized, so marketing plans must integrate with all the other business plans, for example logistics, financial management and organizational development. Activity 1. Who are its customers? What competition does the organization face?
What do you think are the key challenges in the future for your selected organization? When mission statements are written, much is made of issues such as customer satisfaction. However, in some circumstances, it is a little difficult to define precisely who the customer is.
This may be because the organization is a not-for-profit or social marketing organization or the definition of customer is not obvious for the product or service. The key concept is that of stakeholders. We can then accept that customers are a key stakeholder group and that a college has many and complex stakeholder groups. Stakeholders It is essential to satisfy or at least manage all the legitimate stakeholder expectations.
It is no use marketing a toy to parents only for them to find their child does not play with it. Equally, it does not help if the parents do not buy the toy in the first place. To illustrate stakeholder analysis we shall consider a personal care product — shampoo.
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Partial stakeholder analysis for this situation is given in Figure 1. Note that appropriate interpretation of market segmentation concepts is useful in identifying the structure within the groups that have been identified by the analysis. Internal stakeholders are vital and staff motivation and commitment are characteristics of successful organizations.
Internal stakeholders can be segmented by features such as job level or job function. In internal marketing initiatives, such as during the management of change, attitude segmentation variables e.
beniggtiger.tk No product gets to the supermarket shelf without going through a B2B marketing process. Very often with consumer products, there is a division between B2B customers who use the product for the delivery of a service in our case it would be the hair salons and the B2B customers who retail the product to customers for home use. Clearly all the normal tools of market segmentation apply to groups of customers, identified for convenience in Figure 1. Most organizations operate within a framework of law and rules, which are enforced by regulators. For a manufacturer of shampoo, safety in manufacture and in consumer use is subject to regulatory control.
The marketing claims made for the product e. The activity of a firm will be scrutinized by pressure groups with their own specific agenda. In Europe, animal testing of personal care products has been discontinued; however, international companies who operate under different standards in their home market may also come under pressure in Europe. In the fashion sector of the market, consumer pressure groups may consider marketing claims extravagant and products over-priced.