A marketing system is any pattern enabling many business players to provide and respond to the marketplace: helping sellers and buyers interact, make deals, and establish relationships. It includes the marketing of products and services. Marketing systems are used to coordinate advertising efforts, ensure that all messages broadcast to the marketplace are consistent with the message being conveyed, and establish the marketplace’s integrity. Marketing systems can be described as a group of practices used to support an organization’s marketing strategy.
A marketing system involves internal and external systems to promote products and services. These systems include internal and external communication, sales activities and programs, and strategies. Marketing systems help to promote and market products and services in the sales force channel, direct sales channel, and the electronic distribution environment. It helps promote a new channel, increase sales performance, create greater customer loyalty and improve customer retention.
which of the following is not one of the marketing management functions?
The term marketing systems is usually used when describing marketing plans or strategy documents for any business function. In some cases, marketing systems overlap with marketing functions, and in other cases, they represent distinct functions. For example, some hybrid marketing strategies focus on creating new channels by cross-selling existing channels. Other hybrid strategies involve creating new sales processes by reorganizing sales activities. Still, other hybrid strategies involve extending marketing functions by leveraging existing channels and using technology to facilitate communications and manage activities.
The functions of marketing
Marketing systems help to automate most or all marketing tasks. In general, the functions performed by a marketing system include: identifying the audience and defining their needs, organizing product and service offerings to meet these needs, communicating effectively with the audience, measuring customer satisfaction and building market share, developing marketing campaigns, and measuring performance. Some of these tasks may require conducting research, gathering information, analyzing data, evaluating past marketing campaigns, planning future marketing campaigns, and implementing strategies. Each of these activities connects marketing to the sales process.
Marketing systems often define marketing as a process of assembling “completesments,” “products,” “services,” and “additions” that satisfy an identified need or want. One can think of marketing as being an activity concerned with increasing customer value for money. Marketing may also be used to refer to efforts to increase customer loyalty, create “market share,” improve brand awareness or build financial performance. Marketing also involves creating a social environment where consumers and businesses can come together to evaluate products and services, formulate strategies, and come up with solutions.
A hybrid marketing system
A hybrid marketing system is one in which the creation of marketing strategies is combined with marketing processes and actions. A hybrid marketing system allows one to combine or build upon the capabilities of one or more marketing channels. This enables the organization to realize the maximum return on investment on marketing investments. A hybrid marketing system combines the channel capabilities of one or more channels with the capabilities of another channel. In a case where the capabilities of two or more channels are not complementary, the organization can choose a single integrated system, which facilitates the development of two-way communication between the customer and the company. In such cases, the primary marketing channels concentrate on increasing customer segment penetration through advertising, while the secondary marketing channels offer services that complement the advertising initiatives.
A hybrid system is helpful in several situations, but its value most apparent in cases involving two conflicting organizations or interests. When there is a conflict within an organization between the interests of different groups, a hybrid solution satisfies both groups without necessarily conflict resolution. In this example, organizations can be represented by a triad consisting of executives from each group who meet regularly to resolve the conflicts. A hybrid solution might include new channels, training, or both that make each group more effective at negotiating. The triad can also pool its resources and leverage its collective purchasing power to obtain lower pricing on products and services that directly benefit the organization’s customers.
The connection between marketing systems
There are many potential applications of marketing systems, from increasing sales to ensuring product quality. These marketing activities are not static entities in isolation but instead process-driven activities that emerge from other marketing activities. Furthermore, the definition of a marketing system encompasses a wide range of practices, including e-marketing, online promotion, direct mail, customer relationship management, and even community building. In essence, marketing systems can support any marketing activity, though their application is specific to the needs of a given business.