MARKETING

MARKETING

-science and an art of exploring creating

MARKETER

-a person who identifies the goods

CUSTOMER

-a business that buys goods

CONSUMER

-person who acquires goods

PRODUCTION ORIENTATION

-customer preference product

THE SELLING CONCEPT

-promotional efforts

SOCIETAL MARKETING ORIENTATION

-what the costumers want

MARKETING PROCESS:

CREATING

PRICING

DISTRIBUTING

COMMUNICATING

4P’S

PRODUCT

PRICE

PLACE

PROMOTION

RULES OF MARKETERS:

INSTIGATOR INTEGRATOR

INNOVATOR IMPLEMENTOR
UTILITY CONCEPT OF MARKETING

1.FORM UTILITY- conversion of raw materials

2. PLACE UTILITY- availability of the product

3.TIME UTILITY- satisfaction derived by customers

4. POSSESION UTILITY- consumers have full possession

MARKETING ORGANIZATION

-smooth flow of marketing plan

EXCHANGE

-offering something to another

TRANSACTION

-agreement between buyer and seller

CONSUMER CONTENT

-information abt prodcuts and services they would like

COMPANY CAPABILITIES

-to be on a par with competitors

COMMUNICATION

-long-lasting relationship with its customers

COMPETITION

- The real challenge of organization

CROSS-FUNCTIONAL CONTACT

-cannot work alone without the support

COMMUNITY CONTACT

-updated with local

PRODUCTION CONCEPT

-production process

PRODUCT CONCEPT

-should be of high quality

SALES CONCEPT- production technique

PERSONAL SAILING- salesperson uses selling techniques

GOALS OF MARKETING

BRAND- a symbol or logo

BRAND AWARENESS- brand recognized by potential

LEAD VOLUME- number of sales leads

SALES LEAD- potential costumer

THOUGHT LEADER- coined by Joel Kutzman

THOUGHT LEADERSHIP- technique that uses the expertise

BOOSTING SALES- marketing efforts go hand in hand

INCREASING BRAND ENGAGEMENT- maintain lasting relationship with customers

SMART

SPECIFIC- assuming a high post

MEASURABLE- quantifiable goals

ATTAINABLE- goals are achievable

RELEVANT- relevant to want you pursue

TIME- BOUND- time frame

CONTEMPORARY MARKETING

-dedicated to providing sales

ADWORDS- venue for companies

BROWSER- software application

DOMAIN NAME- ip addresses

OPERATING SYSTEM- basic function of computer

ORGANIC SEARCH- result page

SEARCH ENGINE- web-based tool

MARKETING CONCEPT- customer preferences

SOCIETAL MARKETING CONCEPT- marketing philosophy

RELATIONSHIP MARKETING- lasting relationship

SOCIAL MARKETING- sell ideas and behaviors

UNIT 2

RELATIONSHIP MARKETING

-building and maintaining profitable customer

LEVELS:

BASIC MARKETING

-called direct sales

REACTIVE MARKETING

-transaction moves to higher level

ACCOUNTABLE MARKETING

-ensure the product is in perfect condition

PROACTIVE MARKETING

-provide constructive feedback

PARTNERSHIP MARKETING

-helps in improving its performance

CUSTOMER VALUE

-satisfaction derived customer experience

BASIC AND EXPECTED VALUES

-basic requirements of conducting a business

DESRIRED CUSTOMER VALUE

-what customer want

UNANTICIPATED CUSTOMER VALUE

-unexpected purchase

TYPES OF CUSTOMERS

STRANGERS- do not fit the company’s offering

BUTTERFLIES- not loyal

TRUE FRIENDS- match the company’s offering

FREELOADERS- loyal but not profitable

COMMUNICATE WITH CUSTOMERS FREQUENTLY AND EFFECTIVLEY

-customers through email

OFFER COSTUMER REWARDS

-customer loyalty programs

SERVICE MARKETING

SERVICE

-creates a value and provides benefits

Characteristics:

INTANGIBLE- physical manifestation

INSEPARABLE-simultaneous production and consumption

PERISHABLE- rendered services cannot be restored

HOMOGENOUS- differ from time to time

PRODUCT AND ITS ELEMENTS- only supplement the main product

TIME AND PLACE- crucial in service delivery

PROCESS- method of service delivery

PRODUCTIVITY- kind and quality service

PEOPLE- service to the customers

PROMOTION- reach a wider customer base

PHYSICAL EVIDENCE- indicate its quality

PRICE- the price of the service

UNIT 3

STRATEGIC MARKETING

-general plan of action

TACTICAL MARKETING

-covering a shorter period

MARKETING ENVIRONMENT- sum of all internal and external forces

BANKRUPTCY- involves a person or business

MICROENVIRONMENT- internal factors which have direct contact

ORGANIZATION- consist of owners

SUPPLIERS- provides the resources

CUSTOMERS- willing to buy

MARKETING INTERMEDIARIES- selling of goods

WHOLESALERS- entities that buy goods

DISTRIBUTORS- entities selected by manufacturers

RETAILERS- carry a widely range of goods

AGENTS AND BROKES- sell products for a certain commission

COMPETITORS- offer similar goods

MACROENVIRONMENT- consist of the various factors

DEMOGRAPHICS- characteristic of population

ECONOMICS- influence of the purchasing power of the peso

SOCIOCULTURAL- refers to the beliefs

TECHNOLOGICAL FACTOR- development in technology

POLITICAL FORCES- influence the stability of a country

ECOLOGICAL FACTORS- refers to all the processes

MARKETING RESEARCH

BABY BOOMERS- are those born after world war 2

GENERATION X- experienced lower birth rates

MILLENIALS- 1977-1994

GENERATION Z- 1994- 2016

MARKETING RESEARCH- collecting analyzing data

STATE THE OBJECTIVES

DETERMINE THE RESEARCH METHODOLOGY

PRIMARY RESEARCH- information through surveys

SECONDARY RESEARCH- Prev information

QUANTITATIVE RESEARCH- numerical data

QUALITATIVE RESEARCH- mainly studies views

EXPLORATORY RESEARCH- better understanding

DESCRIPITIVE- desrcribes marketing

CAUSAL RESEARCH- cause and effect

GATHER DATA- collect data

INTEPRET THE RESULTS-

PRESENT THE RESULTS

CONSUMER AND BUSINESS MARKETS

CONSUMER MARKET- composed of all individuals