PRINCIPLES OF

MARKETING
CHAPTER 1
MARKETING PRINCIPLES AND STRATEGIES

Lesson 1:
Marketing and its
Traditional Approaches
 MARKETING is the activity of
institutions, and processes for creating,
communicating, delivering, and exchanging
offerings that have value for customers,
clients, partners, and society at large.
1. NEEDS
A human need is something that a
person must have in order to live
and survive.
Maslow’s Hierarchy of Needs
2. WANTS
A human want is something that a
person desires to have.
3. DEMANDS
Demands are also human wants
that are supported by buying power.
4. EXCHANGE
Marketing occurs when the buyer
and seller trade something of equal
value. Both the buyer and the seller
have gained something that
satisfied their unmet needs.
5. MARKET
The market is composed of people
with both desire and ability to buy a
product or service.
 PARTICULARS NEEDS WANTS
Hunger Food
Fashion Wear Clothing
Infection Antibiotics
Shelter Housing
Thirst Beverage
Water
Milk
Transportation Vehicle
 PARTICULARS NEEDS WANTS
Recreation Sports

Entertainment Television, radio,

DVD/Discs, Casinos
Education School
Seminars
Course

Security Insurance

Interment Memorial services

SCOPE OF
MARKETING
1. GOODS
Physical goods comprise the
volume of most countries’
production and marketing effort.
2. SERVICES

as economies progress, a
growing proportion of their
activities are concentrated
on the production of
services.
3. EXPERIENCES
Through organizing a number of
services and goods, one can
generate, stage, and market
experiences.
4. EVENTS

Marketers endorse
time-based events.
5. PERSONS
celebrity marketing has turn into
a main and popular business.
 6. PLACES
Place marketers consist of
economic development specialists,
real estate agents, commercial
banks, local business associations,
and advertising and public relations
agencies.
7. PROPERTIES
Properties are intangible rights of
ownerships of either real
property.
8. ORGANIZATIONS
organizations aggressively labor
to create a strong, positive image
in the mind of their publics.
9. INFORMATION
The production, packaging, and
distribution of information is one
of society’s chief industries.
10. IDEALS
Each market offering has a
fundamental idea at its core.
TRADITIONAL
APPROACHES TO
MARKETING
Traditional concept marketing is a marketing
strategy a company uses to determine if it can
produce a viable product consumers want or need,
whether the company can produce enough products
to fill the need, and the marketing method by which
the need can be filled.
 SEVERAL DISTINCT TRADITIONAL APPROACHES

Production concept Sales concept refers Marketing concept a

focuses on the internal to the idea that people philosophy which
potentials of the will buy more goods states that
company and not and services through organization must try
based on the desires personal selling and hard to find out and
and needs of the advertising done satisfy the needs and
market. aggressively to push wants of consumers
them in the market. while at the same time
accomplishing the
Relationship concept/marketing Societal Marketing Concept organizational goals.
an approach that centers on views that organizations must
maintaining and improving value- satisfy the needs of consumers
added long-term relationships in a manner that gives for
with current customers, society’s benefit.
distributors, dealers and
suppliers.
CHAPTER 1
MARKETING PRINCIPLES AND STRATEGIES

Lesson 2:
Goals of Marketing
Goals are
different from
objectives
Marketing goals are statements
of what results the company
wants to achieve with its
marketing efforts. Just like any
other goal, marketing goals
should be clear. Goals must be
credible and realistic as well
 GOALS ARE DIFFERENT
FROM OBJECTIVES.
GOALS
top-level broad goals to show
MARKETING
how the business can benefit
from channels. So, goals are the
broad aims used to shape
strategy. They describe how
marketing will contribute to the
business in key areas of
growing sales, communicating
with audience and saving
money.
OBJECTIVE
Specific SMART objectives to
give clear direction and
commercial targets.
Objectives are the SMART
targets for marketing which
can be used to track
performance against target.
The SMART mnemonic helps
as a test or filter which the
firm can use to assess the
quality of measures.
 the detail in the a quantitative a quantitative the objectives be
information attribute to attribute to information set for
sufficient to be applied to be applied to be applied different
pinpoint problems create a create a to the time periods
or opportunities; metric. metric. specific as targets to
the objective problem review
sufficiently faced by the against.
detailed to marketer.
measure real-
world problems
and opportunities.
Key performance indicators (KPIs)
are used to check that the marketing
activities of a company are on track.
KPIs are specific metrics which are
used to track performance to make
sure the firm is on track to meet
specific objectives. They are
sometimes known as performance
drivers or critical success factors for
this reason.
 DEVELOPING MARKETING GOALS
GOALS MUST BE:

ATTAINABILITY CONSISTENCY COMPREHENSIVENESS

Goals must be realistic management should the process of goal-setting
so that important parties exert to set goals that are must be comprehensive.
who will be reaching must consistent with one Simply it means that each
see each goal as another. functional area must be able
reasonable. to formulate its own goals
that relate to the
organization’s goals.
INTANGIBILITY
planners often confuse goals with strategies,
objectives and even tactics. A goal is not an
action the firm can take, it is an outcome of the
organization wishes to realize.
 Examples of noteworthy marketing goals:

1. Identifying the target market

2. Increasing sales and profits
3. Increasing brand awareness
4. Increasing market share
5. Countering competitive strategies
6. Reputation
7. Increasing distribution channels

GOALS OF MARKETING
CHAPTER 1
MARKETING PRINCIPLES AND STRATEGIES

Lesson 3:
Contemporary Approaches
to Marketing
 Not-For-Profit Organization Marketing
A not-for-profit organization is a type of organization that does not aim for earning profit for its owners.
The money earned by not-for-profit organization is allocated for pursuing the organization’s objectives.
 Characteristics of a not-for-profit organization

Often
Generate as much possess
Compete some degree
revenue as
with other Market to of monopoly
possible to organizations multiple power in a
support their for donors’ publics given
causes pesos geographic
area
 PERSON
MARKETING

Person marketing entails

endeavors aimed at
cultivating the attention,
interest and preferences of
a target market toward a
celebrity or authority figure.
 PLACE MARKETING
Place marketing or place
branding attempts to exert a
pull customers to particular
areas. Place marketing is used
to attract tourist and showcase
the beautiful spots in different
cities, provinces, and regions.
Place marketing is also used to
promote sites that can be a
nice choice for putting up a
business.
 CAUSE MARKETING
Cause marketing is the
recognition and marketing of a
social issue, cause or idea to
the target markets. Cause
marketing increases the
awareness of issues such as
literacy, physical fitness, child
obesity, and environmental
protection, elimination of birth
defects, child-abuse prevention
and preventing drunk-driving.
 There are some guidelines to consider before
creating a cause marketing campaign.

UNDERSTAND MARKETING SUPPORT REPUTATION CAUSES MAINTAIN

before a firm create a cause
marketing, it needs to
understand first the essential
elements of marketing to its
specific target audience.
THINK
MAINTREAM
the majority of the firm’s
patron should support the
effort of its supporting.
Support reputable causes – if the company is TRANSPARENCY
going to give large amounts of money, if the firm wants consumers
resources or time to a philanthropic cause, it to join its cause, it has to
must first do its homework. The organization make it easy and transparent
must choose the right charity to give help to for them to do so.
and check its every detail.
»
STAY
CONSISTENT
it is best for the company if it is going
to be generous in one charity for long
time to be predictable in the eyes of
the consumers.
is the sport, culture and charity activities to
selected target markets. it consists of different
sponsors from different companies to support
such activities and also serves as public
awareness.
Essential features of event marketing:

1. Wide range of events – event marketing encompasses

a wide range of event types:

a. Mega events and local events,

b. Exhibitions,
c. Trade shows,
d. Publicity stunts,
e. Themed and created events,
f. Corporate entertainment,
g. Award ceremonies.
2. Goal oriented
3. Effective promotion and communication – it is important to
get the message to the target audience clearly.

4. Proper evaluation – it is necessary for the team to be able to

evaluate the event/project to be more effective and efficient the
next time.
5. Feedback from clients
6. Location – this is the most important aspect as the location of
the event should be accessible and should be near important
areas.
Green marketing refers to the process of selling products and/or services based on their
environmental benefits. Company are selling products and/or services by first promoting its
benefit that is environmental friendly or produced in an environmentally friendly way.
For green marketing to be effective, there are three things that needs to be done:

1. Being genuine

a. The company is actually doing what it claims to be doing in its green

marketing campaign and
b. The rest of the business policies are consistent with whatever the firm is
doing that’s environmentally friendly.

2. Educating the customers isn’t just a matter of letting people know that the company is
doing whatever its doing to protect the environment, but also a matter of letting them
know why it matters.

3. Giving customers an opportunity to participate means personalizing the benefits of

the company’s environmentally friendly actions, normally through lettingthe customer
take part in positive environmental action