PRINCIPLES OF
MARKETING
(ABM SPECIALIZED SUBJECT)
ALEX C. SOMERA
Subject Teacher
UNDERSTANDING CULTURE, SOCIETY AND POLITICS
Citius, Altius, Fortius
UNDERSTANDING CULTURE, SOCIETY AND POLITICS
Citius, Altius, Fortius
UNDERSTANDING CULTURE, SOCIETY AND POLITICS
Citius, Altius, Fortius
UNDERSTANDING CULTURE, SOCIETY AND POLITICS
Citius, Altius, Fortius
UNDERSTANDING CULTURE, SOCIETY AND POLITICS
Citius, Altius, Fortius
• the management process
responsible for identifying,
anticipating, and satisfying
customer requirements profitably.
(Chartered Institute of Marketing)
MARKETING
MARKETING
https://www.ama.org/the-definition-of-marketing-whatismarketing/#:~:text=Marketing%20is%20the%20activity%2C%20set,Approved%202017)
➢ Coming up with a product and defining its features
and benefits
➢ Setting its price
➢ Identifying its target market
➢ Making potential customers aware of it
➢ Getting people to buy it
➢ Delivering it to people who buy it
➢ Managing relationships with customers after it has
been delivered
MARKETING IS ABOUT
Think about a typical business- a restaurant, for example.
It’s easy to see how the person decides what products
(menu) to offer involves marketing: selecting the products
to be sold and its price. It’s even easier to see how the
person who puts ads in the social media or papers works
in marketing: they are in charge of advertising—making
people aware of the product and buying it. But what about
the security guard, servers, the order takers, and the
person behind the counter and kitchen? What about the
projectionist? Are they marketing the business?
MARKETING
Principles of Marketing
MARKETING AS
AN ART OF
EXCHANGE
THE EXCHANGE INVOLVES:
THE EXCHANGE INVOLVES:
1.
2.
3.
4.
5.
6.
7.
8.
The Customer
Needs
Wants
Demand
The Product
The Provider (or Seller)
The Transaction
The Exchange Process
THE EXCHANGE INVOLVES:
THE CUSTOMER
A person or organization with a
want or need willing to give
money or other personal
resources to address this need.
NEEDS
customer’s desire for the
products or services specific
benefits required by a human
being for his body and mind's
health and well-being.
WANTS
the desire for products or
services that are not necessary,
but which consumers wish for.
DEMAND
describes a consumer’s desire,
willingness, and ability to pay
the price for a specific good or
service.
PRODUCT
physical good, a service,
experience, or idea designed to
fill the customer’s want or need
THE PROVIDER/SELLER
the company or organization
offering a need-satisfying thing,
which may be a product,
service, experience, or idea
THE TRANSACTION
the terms around which both
parties agree to trade value-forvalue (most often, money for
the product)
EXCHANGE PROCESS
when an individual or an
organization decides to satisfy a
need or want by offering some
money or goods or services in
exchange.
PARTICULARS
NEEDS
HUNGER
FASHION WEAR
INFECTION
SHELTER
THIRST
TRANSPORTATIO
N
SCOPE OF MARKETING
WANTS
EXCHANGE
1.
2.
3.
an act of giving one thing and
receiving another in return.
What can you recall about the definition
of exchange?
Why is exchange an important factor in
the business world?
Give at least one example of an
exchange?
Principles of Marketing
SCOPE OF
MARKETING
SCOPE OF MARKETING
SCOPE OF MARKETING
SCOPE OF MARKETING
Tourist Destinations
Five Star Hotel
Services
Enchanted Kingdom
Rapelling/Rock
Climbing
Zipline
Surfing
Paragliding
Snorkeling
Concerts
Sports Events
SCOPE OF MARKETING
SCOPE OF MARKETING
SCOPE OF MARKETING
SCOPE OF MARKETING
SCOPE OF MARKETING
SCOPE OF MARKETING
SCOPE OF MARKETING
➢ Capturing the attention of your target
market
➢ Persuading a consumer to purchase your
product
➢ Providing the customer with a specific,
low-risk action that is easy to take
PRIMARY PURPOSE OF
MARKETING
If a business's objective is to
sell more products or
services, marketing helps you
achieve that goal.
PRIMARY PURPOSE OF
MARKETING
1.
2.
3.
4.
5.
6.
7.
8.
Identify Customer
Satisfy Customer
Retain Customer
Creation of Products and Services
Distribution
Pricing
Promotion
Selling
ROLE OF MARKETING
The business or organization
must understand customer
wants, demands, and needs.
They also need to identify the
target market (to whom they
would sell their products and
services) and how to reach
them.
IDENTIFY CUSTOMER
Make the right
products or services
available to the right
people at the right
time. Make everyone
feel better off from the
exchange.
SATISFY CUSTOMERS
Give customers a
reason to keep
coming back.
Find new
opportunities to
win them.
RETAIN CUSTOMERS
Anything the
company offers for
sale to the buyers
to satisfy their
demands, wants,
and needs.
CREATION OF PRODUCTS AND
SERVICES
It entails how a company is
going to deliver its products and
services to their respective
customers.
DISTRIBUTION
Make sure you’re not losing
any profits by selling too low.
However, you don’t want to
overcharge and then not see
any return because
customers found a cheaper
alternative.
PRICING
It involves confirming an
advertisement is seen in the
right places by the right people.
PROMOTION
The selling process begins once
you’ve completed market
research and determined what
your prospects want and need.
SELLING
A dream, after all, is just a dream. A goal, in
contrast, is a dream with a plan and a
deadline. The marketing goal is a specific,
measurable, attainable, realistic, and timebound metric (SMART) that drives every
marketing effort.
MARKETING GOAL
Relationship between vision and goals
A vision is what you want your business to look like some
time in the future. When clearly defined, a vision becomes
a beacon that inspires, gives you direction, and keeps
you on course. Having a clear vision allows you to
create marketing goals that move you closer to your ideal
future. If you find that you have goals that you never
achieve, the issue may not be the goal. The issue may be
that the goal isn’t aligned with your vision.
VISION AND GOALS
For example, if your vision is to:
➢ Grow your business into a 3 million company
with 30 employees; then, your goals need to align
with what you should do to achieve that growth.
➢ Build a lifestyle business that offers select
services to small business owners; then, your
goals will be congruent with staying independent.
VISION AND GOALS
➢ Identify how much revenue you need to
generate from your inbound marketing efforts
➢ Determine how many sales you need to hit
those revenue goals
➢ Identify your closing rate and how many
opportunities you need
➢ Implement your other critical business goals
➢ Set quarterly benchmarks
DEVELOPING MARKETING
GOALS
MARKETING
MIX
IDENTIFY CUSTOMER
IDENTIFY CUSTOMER
IDENTIFY CUSTOMER
IDENTIFY CUSTOMER
IDENTIFY CUSTOMER
IDENTIFY CUSTOMER
IDENTIFY CUSTOMER