Name: JULIE ANN G.

PILI
Program: MBA-FM

1. Discuss the nature and scope of Marketing

Marketing is the performance of those business activities which are involved in the floor of idea of goods
and services from the point of production to the point of consumption. Here we can conclude,
marketing is the idea of knowing what is the demand of the market, what is the need of the customer,
get the idea from the market, convert it to the production, go to production process, get the finish
goods and sell it to the market.

Nature of Marketing

Marketing is an economic function, a legal process by which ownership transfer, a system of interacting
business activities, a managerial function, a social process, a philosophy based on consumer orientation
and satisfaction, and had dual objectives which is profit making and consumer satisfaction.

Scope of Marketing

Marketing involves a study of consumer wants and need, study of consumer behavior, help in
production planning ang development, setting pricing policies, distribution of goods, promotion,
consumer satisfaction and marketing control.

2. Explain briefly the interplay of the basic elements of marketing.

The key elements of a successful marketing include the concept of product, price, place and promotion
which is also known as the four Ps of marketing. It is proven to be an effective way to understand the
decisions a company make when it enters a market and competes in it. The four P’s model plays an
important role in the marketing. If a company understands the needs of its customers, it can create
product that satisfy the clients expectations and which will be offered at a price that corresponds to the
target markets willingness to spend at the right place, at the right time, with the right communication
and promotion.

3. Cite a scenario how marketing ensures competitive advantage.

A company or business achieve a competitive advantage when it meets the following criteria: (1) when a
it offers a reasonable value at a lower rate than competitors, (2) when it delivers better products and
service than the others, and (3) when organization recognized and understand the target market than
others. For example, if a company advertises a for a price that’s lower than a similar product from
competitor, that company is likely to have a competitive advantage. The same is true if the advertised
product costs more, but offers unique features that customers are wiling to pay for.
4. Discuss briefly the scope of Marketing Environment.

The marketing environment is a collection of all internal and external factors such as employees,
customers needs and expectations, supply and demand, management, clients, suppliers, owners,
activities by government, innovation in technology, social trends, market trends, economic changes, etc.
These factors affect the function of the company and how a company works directly or indirectly. Some
of these factors influences the marketing environment of a company and situation. Analyzing the
marketing environment helps in identifying business opportunities, tapping useful resources, assist in
planning and improves the overall performance, growth and profitability of the business. The marketing
environment consists of three levels – Macro, Micro, and Internal. Macro is a larger societal force that
affect the micro environment. Micro is the industry in which company operates and the industry’s
markets. While internal is a small force within the company that effect its ability to serve its customers.

5. Cite example on Ethics and Social Responsibility issues in marketing.

It is a responsibility of the businesses to ensure it is responsible for their actions and the impact of it on
the society. To be socially responsible is when the organization is concerned about people, society and
environment with whom and where it conducts business. An organization give importance in the
market promoting a production that is safe and compatible because consumers demands not only
concern health but also attestation that they are not produced by means of exploitation of human
resources. Organization must also have ethical marketing policies to guide their pricing, advertising,
research and competitive strategies. For example, if a consumer wishes to make a purchase from a
retailer, their expectations include wanting to be treated fairly by the salesperson and wanting to pay
reasonable price. Recent trends show that consumers prefer ethical companies and as a result ethics
itself is a selling point or a component of a corporate image.