Principles of Marketing Quarter 3 - Module 1

TOPIC: Marketing Principles and Strategies

Let Us Try

VERTICAL

V1. PRODUCTION

V2. MARKETING

V3. RELATIONSHIP

V4. PRODUCT

V5. INNOVATION

V6. DEMAND

V7. SELLING

HORIZONTAL

H1. WANT

H2. SOCIETAL

H3. NEED

H4. SATISFACTION

H5. EXCHANGE

H6. MARKET

H7. SERVICE

H8. PROFIT

Let Us Practice
 1. The basic needs of an SHS student like me are yellow paper, a phone to access hard
copies modules and to search some information through the internet, and a ballpen. On
the other hand, the wants of SHS students like me are WiFi, laptops, and books.
2. The enumerated needs and wants are all essential for my schooling. Still, if I choose only
one in need, I would like to prioritize the phone so that I can access hard copies modules,
and this will help me search for some information on Google about some activities that I
can't understand. In terms of stated wants, I'd like to prioritize the Laptop because I
utilize it to save files and keep track of my class schedule.
3. I always prioritize my needs over my wants since they are critical to my survival and
well-being, such as shelter, food, clothes, etc.
4. As mentioned above, my expectation for the product is that we cannot live without it
because it plays such an important role in our lives. We should never let our wants lead
us astray; instead, we should think about what we need.
5. We must be actively engaged in buying or choosing a product since it has a significant
impact on ourselves, and we must buy or choose what we need, not what we want. My
recommendation for improving the product is to upgrade it rather than sticking with what
you have now to avoid criticism from customers and never disappoint them.
6. Based on the chart, the purpose of marketing is for us to prioritize what we need over
what we want because we never know what awaits us. Improving the product is also
necessary in order to acquire the trust of customers and make a profit.

Let Us Practice More

TRADITIONAL APPROACHES

Company

1. Apple
2. P&G
3. St. Peter

Type of Traditional Approaches Applied

1. Product concept
2. Production concept
3. Selling concept

Justify your answer

1. They developed high-quality products, and customers preferred innovative products.

2. They sell widely available products and at a reasonable price.
3. They place a greater emphasis on large-scale promotion. Rather than trading products,
this is intended to market the manufacturer's products.

CONTEMPORARY APPROACHES
Company

1. Jollibee
2. Unilab
3. BPI

Type of Traditional Approaches Applied

1. Marketing concept
2. Societal marketing concept
3. Relationship marketing concept

Justify your answer

1. By integrating marketing efforts, the company's product and service production will
profit through customer satisfaction.
2. This company's products place a higher priority on consumer satisfaction and health than
on their needs and wants, without jeopardizing society's well-being.
3. This company's purpose is to build long-term relationships with customers so that they
can keep operating.

Let Us Remember

1. market
2. need
3. want
4. demand
5. satisfied
6. value
7. product
8. transaction
9. relationship
10. customer relationship

Let Us Assess

1. My mother's needs and wants to be purchased for household consumption are food, house
bill, clothing, canned goods, transportation, and maintenance medicines.
2. I will choose the food based on the product purchased because it is tied to its traditional
and contemporary approaches. Food is necessary for our survival; we would starve to
death without it. And this is useful to any company.
3. A company's marketing department is responsible for informing customers about
products, such as who sells them and why they are desired. It is also in charge of listening
to customers and reporting to the provider on how effectively they meet their demands.
Let Us Enhance

1. f
2. d
3. b
4. o
5. a
6. c
7. l
8. j
9. m
10. n
11. h
12. g
13. k
14. i
15. e