UNIVERSITY OF MAKATI

J. P. Rizal Ext., West Rembo, Makati City

COLLEGE OF BUSINESS AND FINANCIAL SCIENCE
Department of Marketing
Course Title Title
Module No. 1
THE VALUE OF MARKETING
PRINCIPLES OF MARKETING
Prepared by DR. RENELIZA M. FERRER

1. Explain the meaning of marketing;

2. Describe the basic concepts of marketing;
Learning Outcomes 3. Enumerate the importance/benefits of marketing;
4. Differentiate marketing philosophies; and
5. The role of Marketing in the economy.

The official definition of Marketing is it is a philosophy whose main focus is providing customer
satisfaction. Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and
exchanging offerings that have value for customers, clients, partners and society at large.
INTRODUCTION

Values are beliefs and goals that transcend specific situations to motivate behaviour. Understanding what
consumers’ value is important because, much like personality traits and other individual differences, values have
demonstrated powerful predictive ability in a number of customer experience and marketing operations.

A person cannot end the day without bumping into marketing. Marketing affects every aspect of people’s lives which
very often has not been thought of. From the moment a person rolls out of bed, he would certainly wanted to be
connected using his phone that could be Oppo, Huawei, Samsung, Nokia or other brands. Sometimes before taking
breakfast, some individuals get a little time to run or walk either with their Nike, Adidas, Converse or any of their
favorite rubber shoes brands. Then before going home, sometimes they will enjoy their yummy breakfast from
Jollibee or McDonalds.

THE VALUE OF MARKETING

1. WHAT IS MARKETING?

Marketing is a business term that experts have defined in dozens of different ways. In fact, even at
company level people may perceive the term differently. Basically, it is a management process through which
products and services move from concept to the customer. It includes identification of a product, determining
demand, deciding on its price, selecting distribution channels. It also includes developing and implementing a
promotional strategy.
B. Help raise and maintain the standard of living- Marketing is above all the giving of a standard of
CONTENT

living to the community. By means of making obtainable the continuous supply of goods and services to
consumers at a sensible price, marketing has played an essential role in raising and preserving living
standards of the community. Community comprises of three classes people which are the rich, middle
and poor. Everything which is used by these different classes of people is supplied by marketing.
C. Creates jobs- Marketing is multifaceted instrument involving many people in one fro or the other. The
main marketing functions are buying, selling, financing, transport, warehousing, risk bearing and
standardization, and so on. In every such function diverse activities are executed by a huge number of
IV. THE EVOLUTION OF MARKETING PHILOSOPHIES

The marketing philosophies have undergone a comprehensive and continuing change since the greatt
Industrial Revolution that took place during the latter-half of the 18th and first-half of the 19th centuries.

PRODUCTION CONCEPT (1820-1930)

V. THE ROLE OF MARKETING IN THE ECONOMY

Marketing is driver of the economy. It promotes goods and services and targets consumers who mostly
likely shall become buyers. Successful marketing strategies translate into higher sales. Marketing in reality
influence economic development. Economic development refers to how a particular country makes
improvement of its citizens' well-being by political or economic means. Economic base is the positive money
flow when the production of goods or services outperforms the local needs of the place. In order to come up
with this surplus the place may create new jobs or encourage the establishment of new businesses within the
 VI. MARKETING AND SOME TRAITS OF CURRENT ECONOMIC DEVELOPMENT

To understand the relationship between marketing and today's environment, there is a need to define some
of the traits of current economic environment.

COMPETITION

Every brand and product is being affected by competition. There are "N" number of products and brands

Direction: Read/Internalize the content of PowerPoint Document

ASSIGNMENT

1. https://www.slideshare.net/aharrell2000/marketing-value-presentation1

Other references: Video links:

1. https://www.youtube.com/watch?v=i1xz5Kv-7VY/
https://www.youtube.com/watch?v=e0PT0W8E8G4/
https://www.youtube.com/watch?v=sR-qL7QdVZQ/
Books: Essentials of Marketing OBE Approach. Dr. Angelita Ong Camilar-Serrano, UNLIMITED BOOKS. 2019
REFERENCES

Lamb, Charles W.; Hair, Joe F. & McDaniel, Carl. Principles of Marketing. 2019
Josiah and Chiqui Escareal-Go, 2010. Fundamentals of Marketing in the Philippine Setting, 2nd Edition.
Josiah and Carolina Go Foundation, Inc.

Web Searching: Lamb, Charles W.; Hair, Joe F. & McDaniel, Carl. Principles of Marketing. 2019

Prepared and submitted by:

DR. LHIZA FERRER and Co.