整篇翻译1.doc

Marketing strategy of economic theory Origin
Marketing grew out of economics, the concept of drawing a lot of economics, but in recent years the field of economics has been a marketing challenge. This paper argues that rational people need to assume marketing, marketing strategy development from the development of economic theory, classical economics, institutional economics, human capital theory, marketing strategy so as to provide a theoretical foundation, this paper focuses on the market Why do people assume that marketing needs rational, 4P marketing strategy, 4C marketing strategy, target market strategy and relationship marketing based on economic theory.
Marketing grew out of economics, "mother," Philip • Kotler pointed out: "Marketing is an economy built on science, behavioral science, based on the theory of modern management science applied science of economics is the marketing ⋯⋯the father of behavioral science is the mother of marketing. "However, due to bias in the theory of economics, marketing practices and strategies tend to be more research, marketing does not require the surface seems to have the guidance of economic theory , and even suggested that the phenomenon of subversion of marketing the basic assumption of economics - rational man hypothesis. Actually it, we just marketing strategy from the source analysis of the economic base, you will find marketing phenomenon who not only failed to subvert the rational assumption, but again to verify the hypothesis. And, whether it is the basic strategy of marketing such as pricing strategy, product strategy, consumer strategy, marketing strategy or other strategies such as target markets, marketing strategies, experience has its economic rationale.
1. Marketing strategies need to assume that rational people
A rational person marketing strategies need to assume that Western economists pointed out that the so-called "rational man" hypothesis is engaged in economic and social economic activities in all the basic features of a general abstraction. This is abstracted out of the basic characteristics are: every person engaged in economic activities is self-serving. It also be said that every person engaged in economic activities are trying to take the economic behavior of the minimum economic cost of their own to get their own best economic interests. Western economists believe that in any economic activity, the only people are "rational person", otherwise, is non-rational person.
In recent years, the development of behavioral science and psychology, so it seems reasonable person based on a wide range of questions raised, for example, Lu Jianqing in the paper "On the rationality of people question the assumption - Marketing Theory to a New thinking" in an article cited a plant of three marketing phenomenon of subversion of classical economics: one shopper phenomenon subversion of the law of diminishing marginal utility; Second, the brand effect on the symmetry of the subversion of market information; three are sensitive consumer view of the subversion of the ideal view of consumption so that such phenomena to subvert the rational man hypothesis. Nevertheless, for two reasons, "rational man" did not leave the study at the marketing strategy is still useful.
First, human reason is limited, but it really widespread rational behavior. Most people will still shop around in the shop, making his total utility maximization. Behavioral economics research is not completely irrational revolutionary, but rather a "rational man" assumption
of economic theory as a necessary complement. The reason why behavioral economics is accepted by mainstream economics, but because in some cases, the rational man hypothesis does not explain behavior, irrational behavior will be added in, is the economics supplement. Although the rational man hypothesis can not fully explain all the phenomena, but so far, it is still making the most similar to human behavior patterns. If the corporate marketing strategy built on the basis of irrational people assume that the short term, companies may be able to get benefits, but in the long term, will certainly a rational as consumers wake up and self-defeating.
Second, the "rational man" assumption is the basis of a normative economics. It tells people what to do to achieve the intended purpose. And behavioral economics, such as Kahneman's "prospect theory" only describes the actual behavior, not normative significance. Advanced human behavior, especially behavior, such as thinking, feeling, reason, to a certain extent, is the results of education and social impact . "Irrational" behavior and poor adaptability, but after a reasonable training, people will be improved, to take more consistent with rational behavior. Reason is a worthy goal, and adopt a "rational man" hypothesis theory is to tell people, if you do, then we will get. In reality, shopper, impulse spending, the phenomenon of blindly buying the brand or a minority, most people will be rational consumption.
2 4P marketing strategy of economic theory is traceable
4P marketing factors that can control the process, but also enterprises in the primary mean of marketing activities, specifically the use of their most basic form of enterprise marketing strategy. 4P is the product (Product), price (Price), place (Place), promotion (Promotion).
2.1 product strategy
Economics as a series of product attributes will be analyzed, that the product is a feature of the collection. Different consumer’s preferences for these characteristics are different. That is, consumer respond differently to the same product is not derived from the characteristics of the product have different perceptions, but because they have different preferences for product characteristics. Therefore, in marketing, product as is "provided by manufacturers to meet that need." Meet the needs of target consumers in product development has become an important criterion.
2.2 Pricing Strategy
Marketing Pricing of more economic theory. First, economics consider different consumers for the same product with different elasticity of demand, marketing, pricing for different positioning methods used to obtain more profits. Secondly, based on information economics, the "price-quality" effect principle, that is the case of asymmetric information, consumers tend to think that high-quality products and higher prices, enterprises will be the creation of brand strategy with the combination of high prices, and strive to In the minds of consumers to set a high quality image. Finally, the basic analytical tools of modern economics, game theory, price competition for business decision-making provides an important analysis tool. The theory considered in decision-making behavior of the reaction of stakeholders, the analysis has strong explanatory power of reality, the most appropriate to analyze the business of asking price competition. Such as the famous "prisoner's dilemma" model can explain the causes of the vicious price competition. In
addition, the income elasticity, cross elasticity and flexibility is also a marketing orientation in the promotion and marketing of economic concepts commonly used in pricing.
2.3 Channel Strategy
The establishment of sales channels, channel strategy is the division of labor economics, the basic principles reflected in marketing. Channel of wholesalers, retailers or agents assume different functions, with no manufacturer's distribution skills. Through large-scale distribution of their products have economies of scale, while more varieties of its operations, economies of scope is also very clear. This greatly reduced through the implementation of division of labor, the cost of distribution functions, improve distribution efficiency. Vertical integration in the establishment of their own sales channels or borrowing someone else's decision-making channels, the new institutional economics of the transaction cost theory to provide the tools. Transaction cost theory is that vertical integration within the sales channels will have transaction costs, and borrowing other people's channels will form market transaction costs, corporate costs by comparing the two sizes, select the appropriate sales channels. In particular, asset specificity and uncertainty is an important criterion for source selection. When asset specificity is high, the need for vertical integration of sales channels, and when asset specificity is low, more economical to borrow someone else's channel. When uncertainty is low, the vertical integration of distribution channels may be higher transaction costs, whereas the opposite.
2.4 Promotion strategy
The marketing promotion strategy is the most creative promotional activities, but also economists more concerned about an economic phenomenon. Economists believe that marketing can not only provide information to consumers, but also affect the demand and create a means of product differentiation has a positive meaning. Therefore, the promotion has become an important way of non-price competition in the market plays an important role in marketing. But some economists believe that sales especially advertising, is a waste and the impact of social and economic benefits. Promotion of public relations as one has some economic attributes. System basic function is to save transaction costs. When the relationship between general social contract, a series of contractual relationships network of people connected form a system arrangement. Public relation is the body corporate and stakeholder institutional arrangements to maintain good interpersonal relationships. Therefore, public relations is an important system to reduce transaction costs, is an important marketing functions.
3 4C Marketing Strategy Analysis of the Theory of Economics
4C is proposed by marketing expert Philip K otler • out, he made the whole concept of marketing, integrated marketing is to emphasize the significance of the relationship between the various elements required them to become unified organism. Specifically, integrated marketing also requires a variety of marketing elements of the unified direction of forces, the formation of joint services for the corporate marketing objectives. 4C is the consumer (Consumer), cost (Cost), facilitating (Convenience), communication (Communication).
3.1 Consumer Policy
Analysis of consumer behavior consumer strategy is the start of marketing activities, consumers refer to the needs and desires of consumers, enterprises should attach
importance to the customer first, emphasizing the creation of customers is more important than the developing products to meet consumer the needs and desires is more important than the product features, not just manufactured products companies want to sell, but to provide the customer really want to buy the product. Analysis of consumer strategy, borrowed extensively preference, utility, indifference curves, marginal utility, opportunity cost, consumer surplus, economic concepts such as rationality, and as a basis for the development of some new research and analysis tools, such as Multidimensional preference analysis and joint analysis of market research methods such as preference ranking, preference is to economics, indifference curve as the theoretical basis. Although consumer behavior research also applied to the knowledge of other disciplines such as psychology, but the concepts of economics research is an important prerequisite.
3.2 Cost Strategy
Economic cost of policy thinking on the cost of economic cost, which includes not only the explicit costs include hidden costs, consumer shopping costs not only refers to the expenditure of money shopping, there is still time consuming, as well as physical strength and energy-consuming risk. To support enterprises in the consumer price increase profits within the limits necessary to reducing costs.
According to the Economist on the cost implications to the cost of strategies can be formulated the following: First, reduce the explicit costs, such as price promotions, gift coupons, etc.; the second is to reduce the hidden costs of shopping, such as reduced transport costs, supermarkets, the free shopping cart bus to the airport, another example, reducing energy consumption, providing free product information, online purchase payments, and as reduce risk, provide unconditional return of zero cost service. Facilitate the strategy
3.3 Facilitate the strategy
Facilitate the purchase means the convenience, compared with traditional marketing channels and new services to link the concept of more attention, emphasis in the sales process to facilitate the customers, so customers only buy goods, but also to facilitate the purchase. Enterprises should understand what different consumers buying patterns and preferences of different, the principle of access throughout the entire process of marketing activities, pre-good service, timely information on to the consumer product performance, quality, price, usage and the effect of accurate information, sale and should pay attention to feedback and tracking surveys, the timely processing of customer comments and replies on own initiative returned the goods in question, the use of active faults provide easy maintenance, large commodity or even lifetime warranty. These are also the hidden costs of meaning based on economics, to facilitate the proposed strategy.
3.4 Communication strategy
Communication is also a demand of consumers. United Parcel Service (UPS) has been thought that the customer on time delivery is most concerned about, the other is secondary, so, UPS almost entirely on the definition of quality of a movement around the time the results of the study, until recently, they discovered , customers and the company hopes to have more communication drivers, which is face to face contact with the company they are the only way, if the drivers were not so cold but are more willing to communicate with the customer, the customer may make some practical suggestions. As a result, the
company began to encourage 62,000 drivers and salesmen to visit with customers, the company also allows each driver to spend 30 minutes per week to strengthen ties with customers in order to increase new sales.
Economics, consumer demand is multifaceted, in the consumption process is diverse to be met by the marketing of the real, from a certain sense, is to make customers get a feeling.
10 dollars and tens of million electronic watches Rolex watches, the time is the same show, so wear a Rolex is not for the time more accurately, but the feeling of successful people seeking to buy luxury goods because of their service because barrier-free communication.
4 Other Source of economic theory of marketing strategy
In marketing strategy development process, in addition to the classic 4P and 4C, there are other marketing strategies, they also have the theoretical basis of economics.
4.1 Market segmentation and target marketing strategy
In marketing strategy, the earliest form of the theory of market segmentation and target market strategy, its two main economic theories put forward based on:
The first is the monopolistic competition theory. Consumer preferences in different markets, income levels and competition are the difference between the formation of a different demand function, therefore, companies must market segments to meet the needs of target consumers. The economic theory of location-based applications market is through product differentiation can create a lack of flexibility of the demand curve, the formation of a "small monopoly" market, different companies to be located in different target markets for non-price competition.
Porter theory of competitive advantage that the vendors if a lower cost than the competitors, production, or in unique ways to create value for buyers, we can achieve sustained competitive advantage. Accordingly, the emphasis on marketing, developing marketing strategies not only to consider the needs of target consumers, but also concerned about the actions of competitors, and establish a true "market oriented" concept.
The Second is the theory of comparative advantage. Theory of comparative advantage, international trade is based on the relative differences in production technology (rather than absolute differences), and the resulting differences in the relative costs. Each country should be under the "benefits the minimum when the two weight, the lesser of two disadvantages relative to the right" principle, with a focus on production and export its "comparative advantage" of products, import of a "comparative disadvantage" products. Although the theory of comparative advantage in trade from the national point of view between the proposed, but it also applies to individual firms, each firm is like a country, it also has its own comparative advantage, it should follow the "two-phase benefit whichever is the right weight, the lesser of two disadvantages relative to the right "principle, the pooling of resources have a comparative advantage to produce its own products and services, rather than wishful thinking in the industry and products of all flowering, which produced a target market strategy.
4.2 Relationship Marketing
The essence of relationship marketing in the trading relationship based on non-trading relationships to ensure that trade relations can be established and continuously occur, relationship marketing is the key to achieve customer satisfaction. Economic theory of
relationship marketing is based on institutional economics and human capital theory
The first is economics system. From the perspective of institutional economics, a relationship can be seen as but not put into words, but by default has long been an informal contract. Since any contracts are signed on the rights and obligations of both arrangements, through the informal contract between the two sides can establish the stability of behavior expected of each other. Because of public opinion, the existence of moral pressure, and the accompanying social sanctions against default, these sanctions include loss of reputation and credit, loss of partners, etc, making relations with the self-enforcing contract basis. Thus, relationship marketing and will have a basis for self-realization
The Second is human capital theory. Relationship building process is actually an investment in human capital investment process, and in Schultz and discussed in Romer and others, human capital is to promote the economic development of the most important factor. Investment on the relationship between the ultimate aim is to establish and develop relations, and use these relationships for their own services, in a sense, establish and develop relationships like the cultivation of the brand, once owned, and its spillover effects will be very obvious.
In short, the economics of marketing strategy for a number of concepts and theories for the development of marketing strategies lay the theoretical foundation. Although the practice of marketing strategy, but the development of context from its point of view, it is absorbed through every step of the economic theory of nourishment. In the future, innovative marketing strategies must also learn from the development of economic theory, so do the marketing plan must learn economics。