Unit 1 Overview

In this unit, we will introduce the role of marketing within an organisation and how marketing supports
organisational strategy and vision. Furthermore, we will outline how marketing leaders develop a plan
and vision tied to selling and promoting the organisation’s products. Furthermore, we will examine
marketing in a general sense, first defining what marketing is and its importance to an organisation’s
strategic objectives, then in collaborating across the organisation.

Unit 1 Learning Objectives

1.Describe marketing and marketing orientation.

2. Analyse the marketing environment.

3.Explain the relationship between products and marketing.

4.Summarise the basis of marketing strategy, vision, and planning.

Lesson 1: Marketing and Marketing Orientation

Introduction

Marketing is a driver that ensures an organisation’s products and services are adapted to the market.
Marketing is an essential role within an organisation in supporting strategy and vision. While marketing
leaders need to have an overarching strategy, they are also tasked with creating their vision and strategy
to meet strategy outcomes. In this lesson, we will specifically examine how marketing is defined, the
marketing “orientation,” and its overall importance.

Required Learning Resources

The learning resources support the lesson topics and help you complete your assessment(s).

 Read the following:

o Introducing Marketing(opens in a new tab)

o Introducing Marketing (pp. 8-33)

o Boundless Marketing

o Introduction to Marketing(opens in a new tab)

o Evolution of the Marketing Orientation(opens in a new tab)

o Differences Between Supplier and Customer Experiences of Marketing Mix in the

Construction Industry

Marketing Defined
Some assume they know what marketing is, yet have a vague understanding of its practice in the day-to-
day along with its meaning and usefulness (Burnett, 2011, p. 13). Marketing can be defined as:

The creation, communication, and delivery of value, as well as the management of customer
relationships for a lifetime.

Lumen Learning

Key Concepts

Below are some key concepts that are pivotal to marketing as a whole. Select each card to see the
concept further defined:

Key Concepts

Below are some key concepts that are pivotal to marketing as a whole. Select each card to see the
concept further defined:

1. Front of card

Marketing

Click to flip

Back of card

Marketing is an organisational function and a set of processes for creating, delivering, and
communicating value to customers.

Customer Relationships

With customers being key, another central marketing element is managing customer relationships that
benefit the organisation.

Identifying Your Consumer Base

Determining who customers are is another marketing element in identifying target markets through
market research and segmentation.

Research and Segmentation

Research and segmentation help marketers refine their marketing plans to target the right people
through campaigns to drive awareness, value, and sales.
Marketing Orientation

Marketing Oriented Business

A marketing-oriented business starts with the customer, finds out what they want, and then produces it
for them (Boundless Marketing, 2022). In order to gain income, a firm needs to offer products that their
customers need or want. They also need to be aware of how needs or wants change. The firm must be
able to attract new customers and keep existing customers. Thus, modern firms are consumer-centred or
consumer-driven. Identification and demonstration of understanding of consumer demands also allow
firms to respond quickly.

In gaining a deeper understanding of marketing, we realise that it is key to building relationships,

differentiating from the competition, and driving customer value. Marketing has applications and
implications across many different sectors of our economy. Although marketing may vary across
industries and needs, with increased societal awareness of corporate social responsibility (CSR),
organisations of all kinds now feel pressure to address how their business affects people and the
environment and integrate practices that positively impact society, employees, and nature. We will study
marketing in such a background in this class.

Additional Resources

The additional resources in this section support the lesson topics and help you complete your
assessment(s).

 Watch the following:

o Marketing Management Orientation(opens in a new tab)(opens in a new tab)

Summary

In this first lesson, we discussed what marketing is and related key concepts. We learned about
marketing orientation and how firms shifted from production orientation, product orientation, or selling
orientation, to marketing orientation. In examining marketing from the corporate standpoint, we
assessed how marketing is also essential to non-corporate industries and how it elicits a sense of
responsibility when communicating initiatives related to its stakeholders. In the next lesson, we will
examine firms’ visions and their marketing environment, including both the internal and external
environments.

Lesson 2: Vision and Marketing Environment

Introduction

In our first lesson, we discussed what marketing is and the importance of having a marketing orientation.
In this lesson, we will examine the role of vision in marketing. The marketing leaders and their teams
need to navigate the external environment and the internal environment to meet their goals and
execute their vision.

Required Learning Resources

The learning resources support the lesson topics and help you complete your assessment(s).

 Read the following:

o Finding your WHY for your business (Creating a vision statement)(opens in a new tab)

o Developing Mission, Vision, and Values(opens in a new tab)

o Introducing Marketing(opens in a new tab)

o External consideration in marketing (pp. 108-58)

o Boundless Marketing(opens in a new tab)

o All of the subsections in The Marketing Environment(opens in a new tab)

o Lost in Missions? Employees as a Top Strategic Priority of the World’s Biggest

Banks(opens in a new tab)(opens in a new tab)

o Analysis of the Internal Marketing Dimensions in Social Economy Organizations: Study

Applied to Co-Operativism in Ecuador(opens in a new tab)(opens in a new tab)

You may encounter these same learning resources within the lecture materials below.

Lesson

Developing a Vision

While strategy helps to focus the organisation on working towards a common goal through an agreed-
upon plan, a vision can be seen as a more holistic way to unite and drive people towards a common
future. While marketing leaders support and align with the corporate strategy and vision, they should
also consider their vision specifically for the marketing teams to motivate team members to achieve. In
having a marketing leader who sets forth a clear vision, team members can understand the context and
further see how they support in achieving.

Visionaries

Visionaries

Visionaries such as Jeff Bezos and Elon Musk lead by sharing their vision to unite and inspire people to
achieve great things (The Importance of Vision - Visionary Leadership, 2019). Sharing a vision also aids in
joint commitment and purpose (Organizational Behavior, p. 322) that can assist in collaboration towards
a shared goal. All leaders should share visions, and marketing leaders should consider specifically sharing
to help their teams and then collaborate on the marketing plan. Watch The Importance of Vision -
Visionary Leadership to learn more about vision and leadership.

In detailing how marketing supports corporate strategy, the first step is to address how marketing
leaders distil corporate strategy into a marketing plan to aid in execution and ownership. The marketing
plan and vision help team members understand their roles and feel aligned and included by having
context. Delegating tasks within the marketing plan is essential for marketing leaders to empower the
team, accomplish the tasks, build trust, and aid in team development. Read more in these Learning
Resources: Finding your WHY for your business (Creating a vision statement) and Developing Mission,
Vision, and Values.

Assessing External Factors

Introduction

Marketers should be aware of the business cycle and react appropriately according to which stage of the
cycle the economy is in and how it may impact their products and strategy. There are four phases of the
business cycle: prosperity, recession, depression, and recovery.

START

Step 1

Recession and Depression

During recession and depression, the economy is on a downward tilt, and consumers are spending less
and saving more. From a time and sales standpoint, this makes it difficult for marketers to sell and make
money.

Step 2

Recovery and Prosperity

During recovery and prosperity, consumers are spending money once again. The role of marketers
remains challenging in all phases of the cycle.

Summary
Marketers must be aware of what stage of the business cycle the economy is in and the impact it may
have on their products. This is not easy to predict, along with other conditions outside of marketing’s
control (COVID-19 as an example). However, research and awareness can lead marketing leaders to take
well-thought-out and calculated risks.

1Recession and Depression

During recession and depression, the economy is on a downward tilt, and consumers are spending less
and saving more. From a time and sales standpoint, this makes it difficult for marketers to sell and make
money.

2PEST Analysis (PESTLE) Explained with Example

CONTINUE

Assessing Internal Factors

SWOT

To aid in devising a marketing strategy, marketing leaders have various tools to help in their planning and
collaboration across the organisation. One tool commonly used by organisations and marketing leaders is
the SWOT analysis. A SWOT examines organisational or product/service Strengths, Weaknesses,
Opportunities, and Threats, analysing current market conditions and scenarios for the future. While
other tools are available and used, the SWOT examines several factors, as seen in the graphic below:

SWOT Infograph, unknown author, Flicker, CC-BY 4.0(opens in a new tab)

Watch the following video on SWOT & TOWS - An Introduction:

CONTINUE

The Marketing Environment -Internal Factors

Environmental scanning is a technique used by organisations to assess the environment and aid
marketers in understanding the current state of the marketplace. This practice can help marketers
improve their decision-making using data to plot trends. From an internal standpoint, having a function
like marketing research that can assess, scan, and research with customers can benefit the organisation
in preparing for the future.

Various elements impact how marketing executes, including technology, customers and competitors,
ethics and law from an external standpoint, talent/employees, mindsets, and collaboration from an
internal perspective. These elements impact marketing in being able to execute strategy through
business capability. Business capability examines this from the lenses of people, processes, and
technology.

Marketing leaders need to be aware of these elements and how they may impact how they navigate
across the organisation and how this affects perception in the marketplace.

Additional Resources

The additional resources in this section support the lesson topics and help you complete your
assessment(s).

 Watch the following:

o How to Perform a SWOT Analysis(opens in a new tab)

o Marketing Environment(opens in a new tab)(opens in a new tab)

o What is the mission, vision, and strategy of an organisation?(opens in a new tab)

o The Importance of Vision - Visionary Leadership(opens in a new tab)

o SWOT & TOWS - An Introduction

Summary

Before strategic marketing planning, this is essential to develop a vision and to understand the external
and internal environment of a firm. This lesson explains what vision is, its relationship with marketing as
well as the models used to analyse a firm's external and internal environment. In the next lesson, we will
study the relationship between product and marketing.

References

(opens in a new tab)

Armin Rau - Making Startups Profitable. (2019, September 10). The importance of Vision - Visionary
Leadership [Video]. YouTube. Retrieved October 17, 2022, from https://www.youtube.com/watch?
v=tFhYsF1sc1M(opens in a new tab)

Burnett, J. (2011). Introducing marketing. A Global Text.

Flinn, C., & Carson, T. (n.d.). Entrepreneurial leadership for the
trades. https://pressbooks.bccampus.ca/leadershipfortrades/(opens in a new tab)

González Santa Cruz, F., Moreira Mero, N., Loor Alcívar, M. I., & Hidalgo Fernández, A. (2020, September
25). Analysis of the internal marketing dimensions in social economy organizations: Study applied to co-
operativism in Ecuador. Frontiers in Psychology, 11. https://doi.org/10.3389/fpsyg.2020.580673(opens in
a new tab)

Lumen Learning. (2013). Boundless marketing. Lumencandela

questus marketing knowledge. (2021b, September 16). What is the mission, vision and strategy of an
organization? [Video]. YouTube. Retrieved October 17, 2022, from https://www.youtube.com/watch?
v=V_afcOjaeb4

Ruban, D. A., & Yashalova, N. N. (2021, January 21). Lost in missions? Employees as a top strategic
priority of the world’s biggest banks. Journal of Risk and Financial Management, 14(2),
46. https://doi.org/10.3390/jrfm14020046(opens in a new tab)

Saylor Academy. (n.d.). BUS501: Strategic management. https://learn.saylor.org/course/view.php?

id=54(opens in a new tab)

The Marketing Strategist. (2021, September 1). Principles of marketing – Chapter 3: Marketing
environment | Philip Kotler [Video]. YouTube. Retrieved October 17, 2022,
from https://www.youtube.com/watch?v=UWCflkLjAOI(opens in a new tab)

Tine Wade. (2017, July 27). SWOT & TOWS - An introduction [Video]. YouTube. Retrieved October 17,
2022, from https://www.youtube.com/watch?v=2xquSq0MSAc(opens in a new tab)

virtualstrategist. (2016, October 19). How to perform a SWOT analysis [Video].

YouTube. https://www.youtube.com/watch?v=I_6AVRGLXGA(opens in a new tab)

Lesson 3: Product and Marketing

Introduction

In this lesson, we will define and examine what products are and how product teams collaborate with
marketing teams to build and enhance products, types of products, and how marketing supports product
life cycles. Products can be defined as goods, services, or ideas delivered to a market to fulfil wants or
needs. Marketing leaders need to be aware of how their products are perceived within the market and
gain feedback from consumers on improving, if needed, to stay competitive.

Required Learning Resources

The learning resources support the lesson topics and help you complete your assessment(s).

 Read

o "Boundless Marketing(opens in a new tab)

o (opens in a new tab)All of the subsections in Products(opens in a new tab)

 o Introducing Marketing(opens in a new tab)

o Introducing and Managing the Product (pp. 159-194)

 Watch the following:

o Rev.com Sr. Product Director on Aligning PM Mindset to Maximize Product(opens in a

new tab)

You may encounter these same learning resources within the lecture materials below.

Lesson

B2B vs. B2C Products

When organisations market products, they can focus on two avenues: B2B and B2C.

 B2B marketing means business to business.

 B2C marketing means business to consumers.

B2B marketing and B2C marketing are similar in that the marketing mix is still used to meet objectives,
and marketers are still tasked with ensuring that products align with the market and customer needs.

While essential to know that there are differences in how B2B decisions are made (in being less
emotional and more task orientated) compared to B2C decisions (more passionate and driven by brand
loyalty), product planning still applies. Product planning in considering both B2B and B2C organisations,

Product Life Cycle

The product life cycle is comprised of four parts:

 1Introduction - when the product is newly launched, consumers may not know much about it.

 2Growth - when the product sales, revenues, and profits begin to grow as the product becomes
more popular and accepted.

 3Maturity - when a product is no longer in the growth stage but not yet in the decline stage.

 4Decline - when a product is not predicted to continue to be successful or upgraded.

When it Matters

The product life cycle matters to marketers:

 Step 1Awareness Stage

During the awareness stage, the product is promoted by marketing to create awareness and develop a
need.

 Step 2 Growth Stage

During the growth stage, the organisation and marketing seek to further build the product’s brand and
gain market share.
  Step 3Maturity Phase

During the maturity phase, marketing is focused on defending market share while maximising profit.

 Step 4Decline Phase

During the decline phase, marketing needs to address options on how to sunset the product or find ways
to invigorate.

Product and Marketing

Product management and marketing, similar to sales and marketing, may work as one Strategic Business
Unit (SBU) or two separate SBUs. This depends on the size and structure of the organisation. Product
development may fall under product management, which also depends on the size and structure of the
organisation.

Throughout the course, we’ve examined marketing’s role. Marketing differs from product management
as product managers may span “many activities, from strategic to tactical, and can be shared by other
roles, such as product engineering.” (Lumen Learning, 2013)

While these functions may vary with where they sit within the organisation regarding structure, the
three groups align in focusing on strategy, research, and competitive intelligence. To gauge the efforts of
these three functions and, in alignment with the sales team, measure performance through profit and
loss (P&L) statements. Managing costs and examining performance enable marketing leaders and the
CEO to ensure success on the bottom line in driving revenue for for-profit companies. Discover more by
watching Aligning PM Mindset to Maximize Product Resources(opens in a new tab).

Additional Resources

The additional resources in this section support the lesson topics and help you complete your
assessment(s).

 Watch the following:

o The Boston Consulting Group Matrix and the Product Life Cycle

Summary

In this lesson, we have examined how marketing and products work in alignment with a lens on the
product life cycle and its impact on marketing leaders. In understanding products concerning marketing
and marketing’s role within the organisation, we can further detail how marketing supports strategy
from a larger standpoint, followed by further describing how marketing plans are created to aid in
execution.

References

Burnett, J. (2011). Introducing marketing. A Global Text.

LAMMORE. (2016, September 26). The Boston Consulting Group Matrix and the product life
cycle [Video]. YouTube. Retrieved October 17, 2022, from https://www.youtube.com/watch?
v=BnrXXxAJCKs(opens in a new tab)

Lumen Learning. (2013). Boundless marketing. Lumencandela

P.T.C. [ProductsThatCount]. (2022, January 11). Rev.com Sr. Product director on aligning PM mindset to
maximize product resources [Video]. Vimeo. https://vimeo.com/500863674

Lesson 4: Marketing Strategy and Planning

Introduction

From a strategic lens, in this lesson, we will examine how companies position products within the local,
national, and global marketplace to gain a competitive advantage. Change in the global, regulatory and
legal markets also poses challenges for marketing leaders along with societal awareness and concern
about social responsibility, which can force organisations to re-address both company values and mission
along with products and delivery in how these elements align to define the company brand.

Required Learning Resources

The learning resources support the lesson topics and help you complete your assessment(s).

 Read the following:

o "Introducing Marketing(opens in a new tab)" (Burnett, 2011)

o Ch. 2: Understanding and Approaching the Market (pp. 34-58)

o Ch. 6: Marketing in Global Markets (pp. 34-58)

o Boundless Marketing

o (opens in a new tab)Corporate Social Responsibility(opens in a new tab)

o Introduction to Marketing I

o Corporate Social Responsibility(opens in a new tab)

o Differences Between Supplier and Customer Experiences of Marketing Mix in the

Construction Industry(opens in a new tab)(opens in a new tab)(opens in a new tab)

 Watch the following:

o Fundamentals of Marketing Basics(opens in a new tab)(opens in a new tab)(opens in a

new tab)

You may encounter these same learning resources within the lecture materials below.

The 4P’s of Marketing

To help marketers formulate their marketing strategies and vision to support the organisation while
ensuring the right people are marketed to drive customer value, marketers rely on the “marketing mix”
or the 4P’s. This mix helps marketers distil their campaigns into focused segments and is critical to
determining a product or brand’s unique selling points. You can learn more about the 4P’s in referencing
“Marketing, OER Commons” and watching “What is Marketing Concept and 4P's of Marketing”. As a
summary, the 4P’s include the following:

(Phulwariya, 2018)

Defining the Marketing Plan

The marketing plan “creates alignment between the organisation’s vision and the stakeholders’
understanding of that vision” (Lumen Learning, 2013):

A marketing plan aids in establishing a vision that can motivate and align the marketing team. Marketing
plans “are included in business plans, offering data showing investors how the company will grow and
what kind of return they will get on their investment.” (Lumen Learning, 2013)

Marketing plans

Marketing plans are critical to:

 Make the marketing team look at their past decisions and understand their results.

 Make the marketing team look at the environment in which they operate.
  Establish a future direction that everyone in the organisation should understand and support.

 Help get funding for future initiatives.

Marketing Strategies and Planning

Marketing as a Strategic Business Unit (SBU) varies from organisation to organisation in both the for-
profit and not-for-profit worlds. In terms of leadership, larger corporations and organisations have a
specific role to lead the marketing function through the role of the Chief Marketing Officer (CMO).

Smaller companies and organisations may have marketing leaders with different titles yet are
responsible for similar elements. CMOs, as an example, report to the Chief Executive Officer (CEO) and
work with leaders from other SBUs on supporting the corporate strategy through marketing efforts to
enhance the bottom line.

As a partner, marketing leaders work within their teams to drive brand awareness, communicate value to
differentiate from competitors, and research with customers to aid in relationships. Learn more about
the role of the CMO by watching: The Role of the CMO Needs to Be Reinvented

Product and Marketing Strategy

Marketing strategy supports products in the following three ways.

 1The determination of product objectives.

 2The development of product plans that will help reach product objectives.

 3The development of strategies appropriate for the introduction and management of products.

Marketing and product management are intertwined in making product decisions that impact how the
marketing team will market to target markets locally, nationally, and globally. While strategy dictates
these objectives from a broad standpoint, these two SBUs further determine deployment, analysis, and
goals specific to their functions.

This ownership may lead marketing and product leaders to encourage and propose more significant
organisational decisions (like acquiring other companies) to maximise consumer value, competitive
advantage, and market share. Read more in Chapter 7. Introducing and Managing the Product (pp. 159-
194) in Introducing Marketing.

Social Responsibility in Strategic Planning

Building ethics into strategic planning is essential for upper management when setting organisational
processes and objectives. This means that marketing leaders and other leaders within the organisation
should find ways to incorporate organisational values and ethics into strategic planning. Values and
ethics and how they are demonstrated by senior leaders and supported by strategy support and define
culture. External stakeholders and customers want to see socially and ethically aware organisations that
can impact value. Stakeholders can be defined as follows:
Internal vs External Stakeholders (examples) (Based on: Jones 1995... | Download Scientific Diagram
(researchgate.net)

The Future of Marketing

Stakeholders want to ensure that the organisations they work for, support, or buy from represent
positive values and demonstrate ethics. Companies should be ethical with their marketing policies to
guide their pricing, advertising, research, and competitive strategies.

Going Green / Corporate Social Responsibility (CSR)

Because of this increased focus, stakeholders can easily find information to evaluate companies’ CSR
efforts. If companies appear to be truthful in the messaging about their CSR efforts, it can aid in gaining
customers and market share. Yet, if they seem dishonest, it can hinder consumer perception. CSR and
being aware of “going green” will be a topic that marketing leaders, too, will need to address concerning
brand and differentiation now and in the future.

To “maintain legitimacy, firms need to effectively communicate to their stakeholders their efforts to
implement socially responsible practices, with clear and effective communication to customers being,
perhaps, most important of all. With the advent of Web 2.0, many companies have utilized online
platforms, such as websites and social networks, for promoting their business practices and engaging
their customers”

(Park, Kwon, & Kim, 2021, p1)

Summary
In this lesson. we studied the 4P's model, marketing strategy and products, and CSR in strategic
marketing planning. The public has become increasingly aware and concerned about business ethics and
social responsibility. Such a perspective must be embedded in a firm's marketing strategy.

References

Al-Fadly, A. (2022, April 27). Differences between supplier and customer experiences of marketing mix in
the construction industry. Frontiers in Built Environment,
8. https://doi.org/10.3389/fbuil.2022.811186(opens in a new tab)

Burnett, J. (2011). Introducing marketing. A Global Text.

London Business Forum. (2008, September 5). Philip Kotler: Marketing strategy [Video]. YouTube.
Retrieved October 17, 2022, from https://www.youtube.com/watch?v=bilOOPuAvTY(opens in a new
tab)

Lumen Learning. (2013). Boundless marketing. Lumencandela

NSCC and Lumen Learning. (n.d.). Introduction to marketing I (MKTG 1010).

NSCC. https://pressbooks.nscc.ca/nsccprinciplesofmarketing/(opens in a new tab)

Steven Van Hook. (2011, September 19). Marketing fundamentals [Video]. YouTube. Retrieved October
17, 2022, from https://www.youtube.com/watch?v=B-6u-pPC1zI(opens in a new tab)