Principles of Marketing for Grade 12 Students

PRINCIPLES OF

I am Johemie Quinones

CHAPTER 1MARKETING PRINCIPLES AND STRATEGIES

Lesson 1:

Marketing and its

Traditional Approaches

MARKETING is the activity of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.

1. NEEDS

A human need is something that a person must have in order to live and survive.

Maslow’s Hierarchy of Needs

2. WANTS

A human want is something that a person desires to have.

3. DEMANDS

Demands are also human wants that are supported by buying power.

4. EXCHANGE

Marketing occurs when the buyer and seller trade something of equal value. Both the buyer and the seller have gained something that satisfied their unmet needs.

5. MARKET

The market is composed of people with both desire and ability to buy a product or service.

PARTICULARS NEEDS WANTS

Hunger Food

Fashion Wear Clothing

Infection Antibiotics

Shelter Housing

Thirst BeverageWaterMilk

Transportation Vehicle

PARTICULARS NEEDS WANTS

Recreation Sports

Entertainment Television, radio,

DVD/Discs, Casinos

Education School

Seminars

Course

Security Insurance

Interment Memorial services

SCOPE OF

MARKETING

1. GOODS

Physical goods comprise the volume of most countries’ production and marketing effort.

2. SERVICES

as economies progress, a growing proportion of their activities are concentrated on the production of services.

Through organizing a number of services and goods, one can generate, stage, and market experiences.

3. EXPERIENCES

Marketers endorse time-based events.

4. EVENTS

5. PERSONS

celebrity marketing has turn into a main and popular business.

6. PLACES

Place marketers consist of economic development specialists, real estate agents, commercial banks, local business associations, and advertising and public relations agencies.

7. PROPERTIES

Properties are intangible rights of ownerships of either real property.

organizations aggressively labor to create a strong, positive image in the mind of their publics.

8. ORGANIZATIONS

9. INFORMATION

The production, packaging, and distribution of information is one of society’s chief industries.

10. IDEALS

Each market offering has a fundamental idea at its core.

TRADITIONAL

APPROACHES TO

MARKETING

Traditional concept marketing is a marketing strategy a company uses to determine if it can produce a viable product consumers want or need, whether the company can produce enough products to fill the need, and the marketing method by which the need can be filled.

SEVERAL DISTINCT TRADITIONAL APPROACHES

Production conceptfocuses on the internal potentials of the company and not based on the desires and needs of the market.

Sales concept refers to the idea that people will buy more goods and services through personal selling and advertising done aggressively to push them in the market.

Marketing concept a philosophy which states that organization must try hard to find out and satisfy the needs and wants of consumers while at the same time accomplishing the organizational goals. Relationship concept/marketing

an approach that centers on maintaining and improving value-added long-term relationships with current customers, distributors, dealers and suppliers.

Societal Marketing Concept views that organizations must satisfy the needs of consumers in a manner that gives for society’s benefit.


Lesson 2:

Goals of Marketing

Goals are

different from

objectives

Marketing goals are statements of what results the company wants to achieve with its marketing efforts. Just like any other goal, marketing goals should be clear. Goals must be credible and realistic as well

GOALS ARE DIFFERENT

FROM OBJECTIVES.

GOALS

top-level broad goals to show how the business can benefit from channels. So, goals are the broad aims used to shape strategy. They describe how marketing will contribute to the business in key areas of growing sales, communicating with audience and saving money.

MARKETING

OBJECTIVE

Specific SMART objectives to give clear direction and

commercial targets. Objectives are the SMART

targets for marketing which can be used to track

performance against target. The SMART mnemonic helps

as a test or filter which the firm can use to assess the

quality of measures.

the detail in the information sufficient to

pinpoint problems or opportunities;

the objective sufficiently detailed to

measure real-world problems

and opportunities.

a quantitative attribute to

be applied to create a metric.

a quantitative attribute to

be applied to create a metric.

the information

be applied to the specific

problem faced by the

marketer.

objectives be set for

different time periods as targets to

review against.

Key performance indicators (KPIs) are used to check that the marketing activities of a company are on track. KPIs are specific metrics which are used to track performance to make sure the firm is on track to meet specific objectives. They are sometimes known as performance drivers or critical success factors for this reason.

DEVELOPING MARKETING GOALS

GOALS MUST BE:

ATTAINABILITY

Goals must be realisticso that important partieswho will be reaching mustsee each goal asreasonable.

CONSISTENCY

management shouldexert to set goals that areconsistent with oneanother.

COMPREHENSIVENESS

the process of goal-settingmust be comprehensive.Simply it means that eachfunctional area must be ableto formulate its own goalsthat relate to theorganization’s goals.

INTANGIBILITY

planners often confuse goals with strategies,objectives and even tactics. A goal is not anaction the firm can take, it is an outcome of theorganization wishes to realize.

GOALS OF MARKETING

Examples of noteworthy marketing goals:

1. Identifying the target market2. Increasing sales and profits3. Increasing brand awareness4. Increasing market share5. Countering competitive strategies6. Reputation7. Increasing distribution channels


Lesson 3:

Contemporary Approaches

to Marketing

Not-For-Profit Organization MarketingA not-for-profit organization is a type of organization that does not aim for earning profit for its owners. The money earned by not-for-profit organization is allocated for pursuing the organization’s objectives.

Characteristics of a not-for-profit organization

Generate as much revenue as possible to

support their causes

Compete with other

organizations for donors’

pesos

Often possess

some degree of monopoly

power in a given

geographic area

Market to multiple publics

PERSON MARKETING

Person marketing entailsendeavors aimed atcultivating the attention,interest and preferences ofa target market toward acelebrity or authority figure.

PLACE MARKETING Place marketing or placebranding attempts to exert apull customers to particularareas. Place marketing is usedto attract tourist and showcasethe beautiful spots in differentcities, provinces, and regions.Place marketing is also used topromote sites that can be anice choice for putting up abusiness.

CAUSE MARKETING Cause marketing is therecognition and marketing of asocial issue, cause or idea tothe target markets. Causemarketing increases theawareness of issues such asliteracy, physical fitness, childobesity, and environmentalprotection, elimination of birthdefects, child-abuse preventionand preventing drunk-driving.

There are some guidelines to consider before

creating a cause marketing campaign.

UNDERSTAND MARKETING

before a firm create a causemarketing, it needs tounderstand first the essentialelements of marketing to itsspecific target audience.

SUPPORT REPUTATION CAUSES

Support reputable causes – if the company is going to give large amounts of money, resources or time to a philanthropic cause, it must first do its homework. The organization must choose the right charity to give help to and check its every detail.

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MAINTAIN TRANSPARENCY

if the firm wants consumersto join its cause, it has tomake it easy and transparentfor them to do so.

THINK

MAINTREAM

the majority of the firm’spatron should support theeffort of its supporting.

STAY

CONSISTENT

it is best for the company if it is going to be generous in one charity for long time to be predictable in the eyes of the consumers.

is the sport, culture and charity activities to selected target markets. it consists of different sponsors from different companies to support such activities and also serves as public awareness.

Essential features of event marketing:

1. Wide range of events – event marketing encompasses a wide range of event types:

a. Mega events and local events,b. Exhibitions, c. Trade shows,d. Publicity stunts,e. Themed and created events,f. Corporate entertainment,g. Award ceremonies.

2. Goal oriented3. Effective promotion and communication – it is important toget the message to the target audience clearly.

4. Proper evaluation – it is necessary for the team to be able toevaluate the event/project to be more effective and efficient thenext time.5. Feedback from clients6. Location – this is the most important aspect as the location ofthe event should be accessible and should be near importantareas.

Green marketing refers to the process of selling products and/or services based on their

environmental benefits. Company are selling products and/or services by first promoting its

benefit that is environmental friendly or produced in an environmentally friendly way.

For green marketing to be effective, there are three things that needs to be done:

1. Being genuine

a. The company is actually doing what it claims to be doing in its green marketing campaign and

b. The rest of the business policies are consistent with whatever the firm is doing that’s environmentally friendly.

2. Educating the customers isn’t just a matter of letting people know that the company is doing whatever its doing to protect the environment, but also a matter of letting them know why it matters.

3. Giving customers an opportunity to participate means personalizing the benefits of the company’s environmentally friendly actions, normally through letting the customer take part in positive environmental action.

THANKS!Any questions?