MARKETING
 Marketing is 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.
(AMA)
 The process by which companies create value for customers and
build strong customer relationships in order to capture
value from customers in return.(Kotler)
 Marketing is the process of determining the needs and wants of
consumers and being able to deliver products that satisfy those
needs and wants.

 Marketing is the delivery of customer satisfaction at a profit.
MARKETING PROCESS
Understanding the Marketplace and Customer Needs
FIVE CORE CUSTOMER AND MARKETPLACE CONCEPTS:
(1) needs, wants, and demands;
(2) market offerings (products, services, and experiences);
(3) value and satisfaction;
(4) exchanges and relationships; and
(5) markets.
Needs - states of felt deprivation.
Wants - the form human needs take as they are shaped by culture and
individual personality.
Demands - human wants that are backed by buying power.
Market offerings - Some combination of products, services, information,
or experiences offered to a market to satisfy a need or want
Marketing myopia - The mistake of paying more attention to the specific
products a company offers than to the benefits and experiences produced
by these products.
Customer Value and Satisfaction
• Customers form expectations about the value and satisfaction that
various market offerings will deliver and buy accordingly.
• Satisfied customers buy again and tell others about their good
experiences.
• Dissatisfied customers often switch to competitors and disparage
the product to others.
Exchange is the act of obtaining a desired object from someone by offering
something in return.
Marketing consists of actions taken to build and maintain desirable
exchange relationships with target audiences involving a product,
service, idea, or other object. Beyond simply attracting new customers
and creating transactions, companies want to retain customers and grow
their businesses. Marketers want to build strong relationships by
consistently delivering superior customer value.
Market - The set of all actual and potential buyers of a product or service.
Designing a Customer-Driven Marketing Strategy
Marketing management - The art and science of choosing target markets
and building profitable relationships with them.
What customers will we serve (what’s our target market)?
How can we serve these customers best (what’s our value proposition)?
ROLE OD MARKETING
1. As a career, a profession
-advertising
-marketing research
 -personal selling
-wholesaling
Marketing Research - is the function that links the consumer, customer,
and public to the marketer through information--information used to
identify and define marketing opportunities and problems; generate,
refine, and evaluate marketing actions; monitor marketing performance;
and improve understanding of marketing as a process. Marketing research
specifies the information required to address these issues, designs the
method for collecting information, manages and implements the data
collection process, analyses the results, and communicates the findings
and their implications. (Approved October 2004)
Personal Selling - Is where businesses use people (the "sales force")
to sell the product after meeting face-to-face with the customer. The
sellers promote the product through their attitude, appearance and
specialist product knowledge. They aim to inform and encourage the
customer to buy, or at least trial the product.
Wholesaling - is the activity of buying or selling goods in large amounts,
especially in order to sell them in shops or supermarkets. Compare
retailing.
RETAILING
retail means that you, the product manufacturer or producer, sell your
product directly to the consumer. Selling wholesale means you typically
sell your product in bulk quantities to a “middle man” who in turn sells it
to the consumer (i.e. other retailers).
2. Standard of Living
-by bringing efficiency, convenience, technology, within our reach.
3. Economic Stability
-more sales, more profit move the wheels of economy-production,
employment, capital
4. Employment
GOALS OF MARKETING
1. building brand awareness
Marketing primary influences what the product or service is trying to
project in the minds of the consumers and how they can relate to the
brand.
It increases the retention of the brand and the product, resulting in brand
awareness.
BRAND – a symbol, logo, words or a combination of these elements that a
company uses to distinguish its product or services from others.
BRAND AWARENESS – is the extent to which a brand is recognized by
potential customers and is correctly associated with a particular product or
service
2. Supporting high sales lead volume
LEAD VOLUME – is the number of sales leads that ultimately be converted
into customers.
SALES LEAD – is a potential customer who is interested in the product.
3. Establishing thought leadership
Joel Kutzman defined Thought Leadership as a person who has “new
important ideas that are worth sharing and that have real application”
These fresh ideas can be in the form of new product or new method of
teaching.
4. Boosting sales
Production efforts by conducting marketing strategies will increase sales
and profitability.
5. Increasing brand engagement
The ultimate goal of marketing to build and maintain lasting relationship
with customers.
Effective brand management is evident when customers feel guilty when
they switch to another brand.
MARKETING APPROACHES
Traditional Marketing
 Traditional marketing is an umbrella term that covers the wide
array of advertising channels we see daily. These may include print
 media, billboard and TV advertising, flyer and poster campaigns
and radio broadcast advertising.
Contemporary Marketing
 Contemporary marketing theories include Co-Creation. This theory
suggests creating a bridge between customer and business
through gamification. A practical example would be attracting
customers through social media content relevant to their needs or
writing article blog posts that have useful information.
 -It is usually associated with for-profit business organizations like
San Miguel Beer, Jollibee, Mang Inasal, Smart, Nokia, BPI and
Robinsons.
Co-Creation
 It is the process where brands and consumers work together to
create, better ideas, products.
 While brands steer product innovation, customers are at the head
of the table.
MARKETING PHILOSOPHIES
1. Product concept or Philosophy- if product performance is given priority.
2. Production philosophy- The company value the importance of the
availability of products at all times with a reasonable price.
3. Selling Philosophy- where firms hire marketers or sales people to do
aggressive marketing for the firms product or services.
4. Societal Marketing Concept- firms look first into the welfare of society
in general and deliver their offering in a way that satisfies their market.
5. Marketing Concept- firms determine the needs and wants of their
potential market.
TRADITIONAL APPROACHES
I. PRODUCT OR COMMODITY APPROACH - Process on how to market a
product, group of products or service
II. INSTITU-TIONAL APPROACH - Provides a useful analysis of the nature of
operations, evaluation and function of a particular institution such as
producers, wholesalers, retailers, and various agencies.
III. FUNCTIONAL APPROACH - Consists of activities as research product
planning, development, pricing, advertising, sales promotion,
standardization, distribution and others
CONTEMPORARY APPROACHES
I. MARKETING MIX (4P’S)
Marketing success= desirable product + acceptable price + effective
promotion + right place
II. CONCEPTUAL APPROACH - Studies ideas of marketing rather than
activities
Consumer is King
III. HOLISTIC APPROACH - Based upon the understanding that activities or
processes are interdependent upon other activities or processes
Functional, commodity, institutional, managerial, social, comparative, 4P’s,
conceptual approaches into one comprehensive whole
IV. MARKETING MANAGEMENT - Defines it as analysis, planning,
implementation, and control of programs designed to bring changes in the
target market for the purpose of achieving organizational objectives.
1. Conventional Task - - tries to change people’s wants rather than
serve their wants
2. Stimulating Marketing
- trying to create a liking for something of which he has no
knowledge
3. Develop Marketing
- persuading consumers that new product is a substitute for
something
4. Remarketing
- rebuilding interests in the stock market in the face of a tight
money situation.
 5. Synchromarketing
- changing in the pattern of demand to match the time pattern of
supply
6. Maintenance marketing
- maintaining sales against the erosive forces of competition
7. Demarketing
- trying to reduce demand in a temporary or permanent basis
8. Countermarketing
- trying to destroy the demand or interest in a particular product
or service

V. MACRO-MARKETING - Looks at the economy’s entire marketing system

to see how efficient and fair it is
VI. MICRO-MARKETING - Examines the individual firm within the
economic system: its operations, objectives, functions and problems
VII. SOCIAL CONCEPT - Depicts marketing as a social institution rather than
merely as a business activity or economic process
VIII. COMPARATIVE MARKETING SYSTEM - - Recognizes existing
environmental differences, marketing within different countries and
between them
Other names:
World marketing
international marketing
international trade
national marketing
foreign marketing