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Geralyn P.

Culaba
BS ABA 1m- Mktg.402m

Marketing

• Marketing is the process by which companies create customer


interest in goods or services. It generates the strategy that
underlies sales techniques, business communication, and
business developments. It is an integrated process through
which companies build strong customer relationships and
creates value for their customers and for themselves.

Marketing Management
• The application, tracking and review of a business' marketing
resources and activities. The scope of a business' marketing
management depends on the size of the business and the
industry in which the business operates. Effective marketing
management will use a company's resources to increase its
customer base, improve customer opinions of the company's
products and services, and increase the company's perceived
value.

Various States of Demand

Negative demand - consumers dislike the product and may even pay a
price to avoid it.

Nonexistent demand - consumers may be unaware or uninterested in


the product.

Latent demand - consumers may share a strong need that cannot be


satisfied by an existing product.

Declining demand -consumers begin to buy the product less frequently


or not at all.

Irregular demand- consumer purchases vary on a seasonal, monthly,


weekly, daily, or even hourly basis.

Full demand - consumers are adequately buying all products put into
the marketplace.
Overfull demand - more consumers would like to buy the product than
can be satisfied.

Unwholesome demand - consumers may be attracted to products that


have undesirable social consequences.

Marketing Philosophies

Production Concept
Customers buy the products which are produced on mass level at low
cost and widely available in the market. This concept totally phase out
customer, production take place without taking customers needs and
wants into consideration. This concept works well when the demand of
product is more than supply or product cost is required to be reduced
by following the practice of mass production.
The organization preaching this concept not last long because this
concept ignore the other important factors like competition, new
products, customer satisfaction etc. Organization most of the time
compromise on quality in order to reduce the cost of the product which
results in customer dissatisfaction leads towards product failure.

Product Concept- The idea behind product concept is customer will buy
the product that is best in quality, design, features and durability.
Organizations follow product concept are too much focused on their
product that they lost site of other important factors like customer
needs and wants.
This concept leads towards “Marketing Myopia” which means
organization fall with love with their existing products that they never
think about other alternatives. If a organization is only focused in
producing best desktop computers for customer without keeping in
mind that customer is willing for portable solution such as laptop and
PDA.

Selling concept- This concept focus on organization profits by putting


efforts on sales and distribution of product. This concept says,
customer will buy the product as long as selling efforts are made by
organization. Organization following this concept forgot that selling
product one time to customer will generate profits for small span of
time.

Marketing concept- At last, innocent customers are considered in


marketing concept, developing the products which fulfill the needs and
wants of customers is the main theme of marketing concept. Marketing
is all about satisfying customers for retaining long term relationship
results in long term profits.
The big names like Dell computers, Microsoft, Oracle, Procter &
Gamble truly practicing marketing concept which is win-win situation
for both organization and customers.

Societal Marketing Concept- Marketing concept happy the customers


by fulfilling their needs and wants but without taking society well being
into consideration. Societal marketing concept tells the organization to
offer the products which satisfy or surprise the customers and also
think for society well being.
Factors like pollution, population and health issues are the main
societal issues which normally ignored in marketing concept. If we take
the example of fast food restaurant offering burgers according to
customer taste but what if it contains heavy amount of calories which
raise serious health issues. Fast food restaurant offering tasty burgers
with low fats is thinking about customer’s needs and want and well
being of society.

5 p’s

Product – the product or service offered to the customer

Price – pricing strategies with the goal of meeting a desired profit


margin or costing structure

Place (Distribution) – distribution of the product/service to your target


market

Promotion – communication and endorsement of your product/service


to a customer

People – service marketing and the level of customer service you


provide to your customer