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53-570: The North Coast 500 is a 516-mile (830 km) scenic route around the north coast of Scotland, starting and ending at Inverness Castle . The route is also known as the NC500 and was launched in 2015, linking many features in the north Highlands of Scotland in one touring route. The route has increased visitor numbers to parts of the north of Scotland, which has brought economic benefits to some areas. The increase in traffic has also led to more instances of bad and dangerous driving, as well as damage to

106-616: A business or organization. Any company that sells products or services to other businesses or organizations (vs. consumers) typically uses B2B marketing strategies. The 7 P's of B2B marketing are: product, price, place, promotion, people, process, and physical evidence. Some of the trends in B2B marketing include content such as podcasts, videos, and social media marketing campaigns. Examples of products sold through B2B marketing include: The four major categories of B2B product purchasers are: Business-to-consumer marketing, or B2C marketing, refers to

159-489: A competitive advantage". For instance, the Chartered Institute of Marketing defines marketing from a customer-centric perspective, focusing on "the management process responsible for identifying, anticipating and satisfying customer requirements profitably". In the past, marketing practice tended to be seen as a creative industry, which included advertising , distribution and selling , and even today many parts of

212-488: A concrete process that can be followed to create a marketing plan . The "marketing concept" proposes that to complete its organizational objectives, an organization should anticipate the needs and wants of potential consumers and satisfy them more effectively than its competitors. This concept originated from Adam Smith 's book The Wealth of Nations but would not become widely used until nearly 200 years later. Marketing and Marketing Concepts are directly related. Given

265-408: A managerial approach that covered analysis , consumer behavior , market research , market segmentation , and planning . Phillip Kotler , popularised this approach and helped spread the 4 Ps model. McCarthy's 4 Ps have been widely adopted by both marketing academics and practitioners. One of the limitations of the 4Ps approach is its emphasis on an inside-out view. An inside-out approach

318-412: A market. In addition, a great deal of advertising and promotion is designed to show how a given product's benefits meet the customer's needs, wants or expectations in a unique way. The two major segments of marketing are business-to-business (B2B) marketing and business-to-consumer (B2C) marketing. B2B (business-to-business) marketing refers to any marketing strategy or content that is geared towards

371-657: A model-building perspective, the 4 Ps has attracted a number of criticisms. Well-designed models should exhibit clearly defined categories that are mutually exclusive, with no overlap. Yet, the 4 Ps model has extensive overlapping problems. Several authors stress the hybrid nature of the fourth P, mentioning the presence of two important dimensions, "communication" (general and informative communications such as public relations and corporate communications) and "promotion" (persuasive communications such as advertising and direct selling). Certain marketing activities, such as personal selling, may be classified as either promotion or as part of

424-416: A more consumer-orientated version of the 4 Ps that attempts to better fit the movement from mass marketing to niche marketing . Consumer (or client) The consumer refers to the person or group that will acquire the product. This aspect of the model focuses on fulfilling the wants or needs of the consumer. Cost Cost refers to what is exchanged in return for the product. Cost mainly consists of

477-476: A multiplicity of new markets. Market segmentation can be defined in terms of the STP acronym, meaning Segmentation, Targeting, and Positioning . Segmentation involves the initial splitting up of consumers into persons of like needs/wants/tastes. Commonly used criteria include: Once a segment has been identified to target, a firm must ascertain whether the segment is beneficial for them to service. The DAMP acronym

530-432: A section to the marketing mix. The 4Ps refers to four broad categories of marketing decisions, namely: product , price , promotion , and place . The origins of the 4 Ps can be traced to the late 1940s. The first known mention has been attributed to a Professor of Marketing at Harvard University, James Culliton. The 4 Ps, in its modern form, was first proposed in 1960 by E. Jerome McCarthy; who presented them within

583-448: A visitor or tourist with a better insight on that theme. Being popular in Europe, they can cover anything from an individual city, a wine growing region, Dutch tulip fields, Swiss Mountains, to Norwegian Fjords. Subjects can be architectural, historical, or cultural. Examples of theme routes: Marketing Marketing is the act of satisfying and retaining customers . It

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636-484: Is a subset of marketing research. (Avoiding the word consumer, which shows up in both, market research is about distribution, while marketing research encompasses distribution, advertising effectiveness, and salesforce effectiveness). The stages of research include: Well-known academic journals in the field of marketing with the best rating in VHB-Jourqual and Academic Journal Guide, an impact factor of more than 5 in

689-610: Is also regarded as a challenge for endurance cyclists. In August 2015, Mark Beaumont established the record for the 516-mile route, completing it in 37 hours and 58 minutes. After others improved his time, Beaumont reclaimed the record in September 2022, finishing in 28 hours and 35 minutes. The record for running the North Coast 500 is 5 days 23 hours 4 minutes and 17 seconds, set by Luke Ivory in July 2021. The first successful attempt at running

742-422: Is conducted for two main purposes: better allocation of a firm's finite resources and to better serve the more diversified tastes of contemporary consumers. A firm only possesses a certain amount of resources. Thus, it must make choices (and appreciate the related costs) in servicing specific groups of consumers. Moreover, with more diversity in the tastes of modern consumers, firms are noting the benefit of servicing

795-544: Is currently defined by the American Marketing Association (AMA) as "the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large". However, the definition of marketing has evolved over the years. The AMA reviews this definition and its definition for "marketing research" every three years. The interests of "society at large" were added into

848-420: Is diametrically opposed to the popular concept of B2C or Business- to- Consumer where the companies make goods and services available to the end consumers. In this type of business model, businesses profit from consumers' willingness to name their own price or contribute data or marketing to the company, while consumers benefit from flexibility, direct payment, or free or reduced-price products and services. One of

901-434: Is one of the primary components of business management and commerce . Marketing is typically conducted by the seller, typically a retailer or manufacturer. Products can be marketed to other businesses ( B2B ) or directly to consumers ( B2C ). Sometimes tasks are contracted to dedicated marketing firms, like a media , market research , or advertising agency . Sometimes, a trade association or government agency (such as

954-401: Is the traditional planning approach where the organization identifies its desired goals and objectives, which are often based around what has always been done. Marketing's task then becomes one of "selling" the organization's products and messages to the "outside" or external stakeholders. In contrast, an outside-in approach first seeks to understand the needs and wants of the consumer. From

1007-410: Is used as criteria to gauge the viability of a target market. The elements of DAMP are: The next step in the targeting process is the level of differentiation involved in a segment serving. Three modes of differentiation exist, which are commonly applied by firms. These are: Positioning concerns how to position a product in the minds of consumers and inform what attributes differentiate it from

1060-486: The Agricultural Marketing Service ) advertises on behalf of an entire industry or locality, often a specific type of food (e.g. Got Milk? ), food from a specific area, or a city or region as a tourism destination. Market orientations are philosophies concerning the factors that should go into market planning. The marketing mix, which outlines the specifics of the product and how it will be sold, including

1113-657: The Lake District . Still others, such as the Lincoln Highway in Illinois are former main roads, only designated as "scenic" after most traffic bypasses them (termed scenic highway in the United States). Some tourist routes, such as Great West Way , can be described as ' multi-modal ', able to be followed by a mix of transportation types, including road, waterway, rail, bicycle or on foot. In Europe and other countries around

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1166-532: The National Park System built for recreational driving through scenic or historic areas. Unlike most scenic routes, National Parkways are built with a buffer of park land along both sides of the roadway. They also may have large satellite parks or recreation areas built periodically along their length. Most National Historic Trails are commemorative motor routes which follow historic pathways. Theme routes are special theme-based tours, aimed at providing

1219-621: The Social Sciences Citation Index and an h-index of more than 130 in the SCImago Journal Rank are These are also designated as Premier AMA Journals by the American Marketing Association. Market segmentation consists of taking the total heterogeneous market for a product and dividing it into several sub-markets or segments, each of which tends to be homogeneous in all significant aspects. The process

1272-515: The sales process engineering perspective, defines marketing as "a set of processes that are interconnected and interdependent with other functions of a business aimed at achieving customer interest and satisfaction". Some definitions of marketing highlight marketing's ability to produce value to shareholders of the firm as well. In this context, marketing can be defined as "the management process that seeks to maximise returns to shareholders by developing relationships with valued customers and creating

1325-649: The North Coast 500 takes in many areas of the North Highland Way , a walking route along Scotland's north coast. The North Coast 500 was launched in March 2015 by the Tourism Project Board of the North Highland Initiative (NHI), in an attempt to work with all aspects of the tourism sector to bring unified benefits to businesses across the route. It was identified that a gap existed in the market within

1378-449: The North Coast 500 was done by William Sichel, who completed the route in 8 days 19 hours 7 minutes and 7 seconds in April 2019. A survey commissioned by HIE suggested that the North Coast 500 led to 29,000 more people visiting the area in its first year, who collectively spent £9 million. Much of the economic benefit may have gone to the larger towns, rather than the smaller settlements on

1431-565: The North Highlands for a tourism offering that included each county of the area ( Caithness , Sutherland & Ross-shire ) and that the North Coast 500 would address that. The initiative was supported by Visit Scotland and Highlands & Islands Enterprise (HIE). In 2015, the route was named fifth in the "Top 5 Coastal Routes in the World" listing by Now Travel Magazine . It has been described as "Scotland's Route 66 ". The North Coast 500

1484-673: The South West Coastal 300 (SWC300), going around Dumfries & Galloway and southern Ayrshire. Scenic route A tourist highway or holiday route is a road that is marketed as being particularly suited for tourists . Tourist highways may be formed when existing roads are promoted with traffic signs and advertising material. Some tourist highways such as the Blue Ridge Parkway are built especially for tourism purposes. Others may be roadways enjoyed by local citizens in areas of unique or exceptional natural beauty, such as

1537-423: The basis of "distinct needs, characteristics, or behaviors who might require separate products or marketing mixes." Needs-based segmentation (also known as benefit segmentation ) "places the customers' desires at the forefront of how a company designs and markets products or services." Although needs-based segmentation is difficult to do in practice, it has been proved to be one of the most effective ways to segment

1590-399: The case of services marketing . Other extensions have been found necessary in retail marketing, industrial marketing and internet marketing. In response to environmental and technological changes in marketing, as well as criticisms towards the 4Ps approach, the 4Cs has emerged as a modern marketing mix model. Robert F. Lauterborn proposed a 4 Cs classification in 1990. His classification is

1643-404: The centrality of customer needs, and wants in marketing, a rich understanding of these concepts is essential: Marketing research , conducted for the purpose of new product development or product improvement, is often concerned with identifying the consumer's unmet needs . Customer needs are central to market segmentation which is concerned with dividing markets into distinct groups of buyers on

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1696-402: The channels that will be used to advertise the product, is affected by the environment surrounding the product, the results of marketing research and market research , and the characteristics of the product's target market. Once these factors are determined, marketers must then decide what methods of promoting the product, including use of coupons and other price inducements. Marketing

1749-428: The competitor's products. A firm often performs this by producing a perceptual map, which denotes similar products produced in the same industry according to how consumers perceive their price and quality. From a product's placing on the map, a firm would tailor its marketing communications to meld with the product's perception among consumers and its position among competitors' offering. The promotional mix outlines how

1802-488: The consumer relationship, as opposed to a pure exchange process. For instance, prolific marketing author and educator, Philip Kotler has evolved his definition of marketing. In 1980, he defined marketing as "satisfying needs and wants through an exchange process", and in 2018 defined it as "the process by which companies engage customers, build strong customer relationships, and create customer value in order to capture value from customers in return". A related definition, from

1855-408: The consumer to attain the product, thus making them more likely to do so. Communication Like "Promotion" in the 4Ps model, communication refers to how consumers find out about a product. Unlike promotion, communication not only refers to the one-way communication of advertising, but also the two-way communication available through social media. The term "marketing environment" relates to all of

1908-511: The country that remains with the official scenic designation: U.S. Route 40 Scenic in Maryland . Scenic byways in the United States , also include state, National Scenic Byway , National Forest Scenic Byways and Bureau of Land Management Back Country Byways programs which designate roads or routes as scenic byways due to some unique characteristics. National Parkways are scenic roads in

1961-478: The definition in 2008. The development of the definition may be seen by comparing the 2008 definition with the AMA's 1935 version: "Marketing is the performance of business activities that direct the flow of goods, and services from producers to consumers". The newer definition highlights the increased prominence of other stakeholders in the new conception of marketing. Recent definitions of marketing place more emphasis on

2014-457: The factors (whether internal, external, direct or indirect) that affect a firm's marketing decision-making/planning. A firm's marketing environment consists of three main areas, which are: Marketing research is a systematic process of analyzing data that involves conducting research to support marketing activities and the statistical interpretation of data into information. This information is then used by managers to plan marketing activities, gauge

2067-406: The idea of people driving petrol and diesel fuelled vehicles for 500 miles around the north of Scotland?" The increase in traffic has led to problems on local roads – drivers not using passing places to allow others to overtake, groups driving in convoys, damaged roads, speeding and excessively slow driving blocking others. On four occasions in 2018, tacks had been scattered across the road, although

2120-519: The main roads forming the route increased by 45% compared with 2014. In 2021, reports of dirty camping and strained local infrastructure led to suggestions that the route had become a victim of its own success. The route's popularity led to the launch of a similar but shorter route through the Central Highlands and Perthshire, the Heart 200. Another Scottish circular route has been opened in recent years,

2173-415: The major benefit of this type of business model is that it offers a company a competitive advantage in the market. Customer to customer marketing or C2C marketing represents a market environment where one customer purchases goods from another customer using a third-party business or platform to facilitate the transaction. C2C companies are a new type of model that has emerged with e-commerce technology and

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2226-506: The marketing environment. To overcome the deficiencies of the 4P model, some authors have suggested extensions or modifications to the original model. Extensions of the four P's are often included in cases such as services marketing where unique characteristics (i.e. intangibility, perishability, heterogeneity and the inseparability of production and consumption) warrant additional consideration factors. Other extensions include "people", "process", and "physical evidence" and are often applied in

2279-418: The marketing process (e.g. product design , art director , brand management , advertising, inbound marketing, copywriting etc.) involve the use of the creative arts. However, because marketing makes extensive use of social sciences , psychology , sociology , mathematics , economics , anthropology and neuroscience , the profession is now widely recognized as a science. Marketing science has developed

2332-474: The monetary value of the product. Cost also refers to anything else the consumer must sacrifice to attain the product, such as time or money spent on transportation to acquire the product. Convenience Like "Place" in the 4Ps model, convenience refers to where the product will be sold. This, however, not only refers to physical stores but also whether the product is available in person or online. The convenience aspect emphasizes making it as easy as possible for

2385-506: The motive was never established. Some drivers have boasted of completing the route in under 24 hours and some locals have renamed it the Indy 500 , after the US car race, because of some drivers' behaviour. Journey times for locals are up to three times longer during the peak driving season than at quieter times. During 2016 – the first full year of its operation – the number of deaths and serious accidents on

2438-458: The nature of a firm's marketing environment and to attain information from suppliers. A distinction should be made between marketing research and market research. Market research involves gathering information about a particular target market. As an example, a firm may conduct research in a target market, after selecting a suitable market segment. In contrast, marketing research relates to all research conducted within marketing. Market research

2491-417: The place (i.e., distribution) element. Some pricing tactics, such as promotional pricing, can be classified as price variables or promotional variables and, therefore, also exhibit some overlap. Other important criticisms include that the marketing mix lacks a strategic framework and is, therefore, unfit to be a planning instrument, particularly when uncontrollable, external elements are an important aspect of

2544-420: The precise nature of specific concepts that inform marketing practice, the most commonly cited orientations are as follows: A marketing mix is a foundational tool used to guide decision making in marketing. The marketing mix represents the basic tools that marketers can use to bring their products or services to the market. They are the foundation of managerial marketing and the marketing plan typically devotes

2597-582: The roads and concerns about the environmental impact. The route runs through the traditional counties of Inverness-shire , Ross and Cromarty , Sutherland and Caithness . Working clockwise, the route starts at Inverness and runs via Muir of Ord , Applecross (including the Bealach na Bà ), Gairloch , Ullapool , Scourie , Durness , Castle of Mey , Thurso , John o' Groats , Wick , Dunrobin Castle , Dingwall then back to Muir of Ord and Inverness. The route of

2650-478: The route. A Highland councillor commented in 2019 that visitors tended to stay in the area for only one night when using the route, in contrast with stays of several nights before it opened. In 2017, writer and broadcaster Cameron McNeish questioned the promotion of the route, given that the Scottish Government had adopted strong positions on climate change and renewable energy: "Should we really be promoting

2703-530: The sharing economy. The different goals of B2B and B2C marketing lead to differences in the B2B and B2C markets. The main differences in these markets are demand, purchasing volume, number of customers, customer concentration, distribution, buying nature, buying influences, negotiations, reciprocity, leasing and promotional methods. A marketing orientation has been defined as a "philosophy of business management." or "a corporate state of mind" or as an "organizational culture." Although scholars continue to debate

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2756-460: The tactics and strategies in which a company promotes its products and services to individual people. Traditionally, this could refer to individuals shopping for personal products in a broad sense. More recently the term B2C refers to the online selling of consumer products.< Consumer-to-business marketing or C2B marketing is a business model where the end consumers create products and services which are consumed by businesses and organizations. It

2809-400: The world, they are often marked with brown tourist signs with the individual route symbol or name, or both. In the United States, a scenic route may also refer to a type of special route of the U.S. highway system that travels through a particularly beautiful area. These special routes, which boast "Scenic" banners are typically longer than the "parent route". There is only one route in

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