Marketing Principles of Bank Marketing Practice - [Bank Marketing Practice Handbook.1]

Author: Dai Dansheng
Publisher:
Publish Date: 2006-09-01
Features: The prophecy of scarcity led Sidney Leavitt and Philip Kotler to propose the concept of "Low Marketing" in 1971. They believed that in certain environments, marketing managers must master the skill of selectively or comprehensively reducing demand levels, just as they are skilled at expanding demand. They elaborated on how different marketing mix tools could be used to lower market demand.
In 1972, Al Ries and Jack Trout published an article in the magazine "Advertising Age," proposing the important concept of "Positioning." They argued that even if a company had not positioned its product in advertising, the product still held a certain place in customers' minds. Ries and Trout explained how companies should use positioning to establish a specific image for their products in customers' minds and help businesses find gaps in the market.
Early economic shocks in the 1970s led to the concept of "Strategic Planning." Boston Consulting Group convinced companies not to treat all their businesses equally but to decide which businesses should be established, retained, harvested, or eliminated based on the market share and growth of each business. This is known as the "Business Portfolio Method." For marketers, marketing does not merely mean increasing sales. From this idea emerged the concept of "Strategic Marketing." The distinction between "Strategic Marketing" and "Tactical Marketing" has now become increasingly clear. In fact, General Motors has already set up separate marketing departments for these two concepts, and we have already seen new textbooks and focusing on strategic marketing.
In the 1970s, people increasingly felt that businesses should bear a certain social responsibility, leading to the emergence of the concept of "Social Marketing." Other terms, such as "Humanitarian Marketing" and "Socially Responsible Marketing," also appeared. These concepts require businesses to consider not only consumer needs and company goals but also the long-term interests of consumers and society when making decisions.
Contemporary social issues, such as consumer rights advocacy and environmentalism, have prompted marketing scholars to once again focus on the macro effects of marketing activities. The term "Macro Marketing" thus came into being. Similar to macroeconomics, macro marketing research reminds us to frequently examine the overall impact of marketing mix activities on consumer welfare and value.