BENEFITS OF MARKETING

PREPARED BY EDELYN S. ENGOC
JOSE RIZAL MEMORIAL STATE UNIVERSITY
It creates
employment. Marketing
provides job opportunities
to many individuals in
various fields likes
research, sales, teaching,
merchandising, logistics
and development.
Provides better profit.
Better sales
performance gives more
profit
Helps develop more and better products.
Activities such as product development,
companies innovation and enhancement
of product offerings are the significant
activities in marketing.
Improve quality of life. With
better product offerings,
marketing provides
convenience, easy living and
better lifestyle, comfort and
efficiency.
Produces more
entrepreneur. The
more success in
marketing, the better
opportunity for
businessmen/entrepr
eneur to put up
businesses.
Contributes to
economic
development.
Marketing contributes
to economic
development through
revenues the
government collects
from taxes paid by the
business people.
 The
Marketing
Concept
 The real objective of the business firm is to
make profits on a short-term and long-term
basis.
 This is possible only when the customers
patronize the firm.
 Long term customer patronage is preferred by
the firm but it can only happen as a
consequence of customer satisfaction.
 However, the customer will be satisfied only if
the product or service he buys is really the one
he wants, at a price acceptable to him, at the
place where he wants to find it, and at the
way he wants to get it.
 The Marketing Concept
 calls for identifying the needs of
customers first before any move is
made. It is wise to know what is in the
mind of the customers before starting
any production activity. When
customers’ needs and wants are
identified, the company has a greater
chance of achieving its goals.
 The Marketing Concept
Versus the Other
Concepts
1. The Product Concept - attempt to find
interested buyers after producing the product.
2. The Selling Concept - the firm produces the
product then adapts a selling strategy designed
to convince a group of perceived customers.
3. The Marketing Concept - the firm defines its
target market and determine the needs, wants
and values of the market. The firm then adapts
a strategy to satisfy those needs and wants
more effectively and efficiently than its
competitors.
TH
E
VA
RI
O
US
CO
NC
EP
TS
SUPERIORITY of the
Marketing Concept
Product Concept- is always at risk of
finding inexistent or insufficient
demand for their products.
Selling Concept- a little better than
product concept; this company will
build a strong sales unit and to
some extent will be able to
achieve a certain level of sales
Marketing Concept- proven to be
more effective and efficient than
the other concepts
 The product-oriented and the selling-oriented firms
will find it hard to reach the sales level of marketing-
oriented companies which gathers information to
determine the following:
 What products or services are expected by the
customers?
At what price are the customers willing to buy such
products or services?
At what place do they expect to find the products or
services they want?
What kind of promotion will likely persuade them to
buy?
If the firm knows the answers to these questions,
it will be in a better position to achieve its
marketing objectives.
 When does Marketing
occur?
1. the presence of at least
two parties with
unsatisfied needs;

Ex: A teenager desiring to get a

college degree in business
(one party) and a university
needing college students
(another party)
 When does Marketing
occur?
2. the desire and ability of
the parties to be satisfied;

Ex: The teenager really desires a degree in

business having just finished high school
and has enough money to pursue a college
course. The university desires to have more
students and it offers a college course in
business, with qualified faculty and
facilities.
 When does Marketing
occur?
3. the existence of a way for
parties to communicate;

Ex: Through word of mouth and advertisements,

the teenager became aware of the existence of
the university near his home which offers the
college course he desires to take. The
university, in the same light, has a way of
knowing the existence of potential students
because of two high school situated in the
community
 When does Marketing
occur?
4. each party has something
to exchange.

Ex: When the teenager enrolled in the university,

he got the satisfaction of receiving education
which simultaneously collected money from
him as payment for tuition. There was an
exchange of values between the teenager and
the university effectively satisfying the fourth
requirement for marketing to occur.
1.3 Goals of Marketing.pptx