market segmentation
The process of subdividing a market into distinct subsets of users that behave in the same way or have similar needs. Segments for the library could be demographic (Asian); geographic (branch-level); psychographics (leisure-oriented); customer size (largest user group area); benefits (have children in the home learning to read.)
market share
A proportion of the total sales/use in a market obtained by a given facility or chain.
marketing
The process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational goals.
marketing channel
A set of institutions necessary to transfer the title to goods and to move goods from the point of consumption. (Vendors, publishers, library facilities.)
marketing mix
The mix of controllable variables that the firm/library uses to reach desired use/sales level in target market, including price, product, place and promotion- 4 P's.
marketing opportunity
An attractive arena of relevant marketing action in which a particular organization is likely to enjoy a superior and competitive advantage. (Kotler) marketing plan A document composed of an analysis of the current marketing situation, opportunities and threats, analysis, marketing objectives, marketing strategy, action programs, and projected income statement
People don’t buy products, programs, or services they buy the expectations of benefits. Marketing is the human activity directed at satisfying wants and needs, thought the process of exchange. The dictionary definition of marketing is:
marketing noun 1 business the techniques or processes by which a product or service is sold, including assessment of its sales potential and responsibility for its promotion, distribution and development. 2 especially N Amer an act or process of shopping.
Principles of marketing
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The marketing concept : The belief that satisfying customer needs and wants is first priority
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A marketing orientation: Everyone from management to maintenance must accept and act according to the marketing concept
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Satisfying customer needs and wants: You have to do everything in your power to understand and satisfy your customer.
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Market segmentation: There is no ‘average’ consumer. You must identify and understand your different target markets.
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Value and exchange process: Your customer must perceive that they are exchanging something of value.
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Product life cycle: Every product goes though a life cycle. You must understand this cycle.
Production – orientation Era
- Began with the industrial revolution
- During this era the production capacity of factories could not keep pace with demand. Demand exceeded supply.
- The company decided what the customer wanted
- Customers needs were of secondary importance
Sales – orientation era
- Gradually, technological advances in production and increase competition changed the emphasis of marketing
- Capacity now equalled demand.
- Emphasis switched from production to selling.
- Beating the competition by outselling them was first priority
- Customer needs and wants were still of secondary importance
Marketing – orientation era
- Resulted from even more intense competition and technological advances
- Supply now exceeds demand
- Organisations began to realise that selling alone did not guarantee satisfied customers and more sales
- Customers had more choices then before and could select the products and services that best matched their needs
- Organisations began adoption the marketing concept (acting on the assumption that satisfying customers’ needs wants are first priority
- The era had two distinct stages
The marketing department era
Organisations set up departments to co-ordinate actives. Sales departments and divisions were renamed and reorganised to include the related functions of advertising, customer service, and other marketing actives
Marketing company era
A shift in attitude from a ‘Departmental responsibility’ to an organisation-wide attitude.
Societal – marketing – orientation era
- Came from the realisation that the need of the individual should not out weigh the greater needs of society.
- It emphasises social responsibility in addition to profit and customer satisfaction
- A marketing effort, which is directed at programs, designed to influence voluntary behaviour to target audiences to improve their personal and community welfare.
