Assignment # 2 ( yellow pad )

1. What is the meaning of 4Ps?

 The 4Ps stands for Product, Price, Place, and Promotion. Product is what a business sells or offer
in order to gain profit (can be tangible or intangible such as services). Price is the amount of
money that a business’s charged for customers. Place is where a business sells or offer their
product. Lastly, Promotion is a strategy used in a business’s product which include advertising to
reach more potential customers.
2. What is the purpose and objective of 4Ps?

 The 4Ps are the key elements in which the business considers when creating marketing plans and
strategies to effectively market the product to the target audience or market. These elements or
tools are used to achieve marketing objectives. It helps the business to identify what the
customers are searching for and how the product can be improved or launch successfully.
3. Why is it important to the marketers to know the marketing process and the 4Ps?

 It is important to the marketers to know the marketing process and the 4Ps as it helps them to
identify what the customers are searching for, understand their needs and wants and how their
product can be improved or launch successfully.
4. Among the 4Ps which do you think is more essential? And why do you think so?

 I think that there is no such thing as “more essential” among the four of them since they make up
each other and without the presence of one of them, a business wouldn’t be able to market their
product profitably.
5. As student, do you think it is beneficial of knowing the needs and wants of the consumers? Why do you
think so?

 As a student, knowing the needs and wants of the consumers is beneficial as it will help us to
create products that will satisfy their needs and wants or give a solution to their problem which in
return will help us generate profit and grow our business into a larger one.

Quiz # 1 ( yellow pad )

1. Choose at least two of the traditional marketing philosophies, and explain how the marketers designed
and strategies can be innovated and useful in this point of time. (15pts)

 Product Orientation – This focuses specifically on the promotion of high-quality products and the
product itself to generate profit. To use this approach, a business must focus on developing their
product through gathering ideas based on customer studies. This kind of approach ensures that the
 customer will receive nothing but a high-quality product especially in this time of a pandemic
wherein people will buy things that they can use for a long time.
 Societal Marketing Orientation – This focuses on making strategic marketing decisions keeping
in mind the customer’s needs and wants while attending to their social responsibility. Using this
approach especially in this time of a pandemic is a very helpful approach not only to the
customers and the society’s well-being but to the environment as well as it considers its societal
impact.
2. Explain the customer-centric approach in marketing. (10pts)

 The customer-centric approach in marketing is a strategy that places the "customer" at the center
of the business's operations. For the goal of providing customers with the best experience and
satisfaction, every decision—from product development to marketing to sales—is based on their
needs, wants and demands.
3. Explain the difference between traditional marketing and digital marketing (15pts)

 Traditional marketing is a form of approach that uses offline media such as print media, television
or radio, magazine, newspaper and even face-to-face conversations to advertise one’s product or
services to the target customer. On the other hand, Digital Marketing uses technology and online
media including online advertisements and social media to reach customers.