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The 4 P’s:
o Product: The product that the company sells can be a physical item or
an intangible service. A product is evaluated by the degree to which it
satisfies a need and provides value for a specific group of consumers.
o Price: The price principle refers to how much consumers pay for the
product, and it is evaluated in terms of how the price maximizes profit
for the company.
o Place: The place principle considers the distribution channels i.e. where
the company will sell your product and how it goes to the market.
o Promotion: The promotion principle is about communicating with
consumers. It involves spreading the word out to potential customers.
The 4 C’s:
o Clients: costumer’s wants and needs. Instead of focusing on the product
itself, the first C focuses on filling a void in the customer’s life.
o Cost: overall cost – not price – of the product to the customer.
o Convenience: Convenience is often compared to “place” in the 4P’s
marketing strategy. However, these two are very different. Place simply
refers to where the product will be sold. Convenience is a much more
customer-oriented approach to this marketing strategy.
o Communication: all interactions between the organization and clients.
The key players of marketing industry (and the reason why they are important) are:
In response to customer demands, along with the threat of increased regulation, more
and more firms have incorporated ethics and social responsibility into the strategic
marketing planning process. Marketing ethics includes the principles and standards that
guide the behavior of individuals and groups in making marketing decisions. Corporate
reputation, image, and branding are more important than ever and are among the most
critical aspects of sustaining relationships with key stakeholders. Most firms begin the
process of establishing organizational ethics programs by developing codes of conduct,
which are formal statements that describe what an organization expects of its
employees. A code of ethical conduct has to reflect the board of directors’ and senior
management’s desire for organizational compliance with the values, rules, and policies
that support an ethical climate.
Itaú Unibanco is a publicly-held company which, together with its subsidiaries and
affiliated companies, operates in Brazil and abroad, with all types of banking activities,
through its commercial, investment, real estate loan, finance and investment credit, and
lease portfolios, including foreign exchange operations, and other complementary
activities, with emphasis on Insurance, Private Pension Plans, Capitalization, Securities
Brokerage and Administration of Credit Cards, Consortia, Investment Funds and
Managed Portfolios.
Internal External
Executives Shareholders
Managers Customers
Staff at all Levels Regulators
Itaú Unibanco is known as a company that invests on the relationship with their clients
offering a bunch of products and services to reach their satisfaction. Itaú Unibanco
seeks to establish a good customer relationship in the market. This would enable the
organization to increase the sales and subsequent revenues for the organization.
Additionally this would provide the origination with a sense of achieved customer
loyalty to the brand of the organization. Operational efficiency is also an objective of
the organization. This is essential for the organization to achieve its strategic goals such
as reduction of operational costs, increase in competitiveness and attainment of
organizational growth.
References
https://www.itau.com.br/investor-relations/
http://heidicohen.com/marketing-definition/
http://smallbusiness.chron.com/marketing-department-organizational-structure-716.html
https://agencymanagementinstitute.com/
https://www.aminworldwide.com/
https://www.anmp.com/