AN OVERVIEW OF

CONTEMPORARY
MARKETING
Marketing, a matter of common sense and
more; the AMA definition

“Doing better
than best is
the essence
of progress.
And this
holds for
marketing as
well.”
Marketing definition by
American Marketing Association:
“Marketing is the process of
planning and executing the
conception, pricing,
promotion, distribution of
ideas, goods and services to
create exchanges that satisfy
individual and organizational
goals.”
The definition views
marketing as an
exchange process or
discipline that involves
strategies, activities,
positions, and
institutions.
Contemporary Marketing
 It is usually associated with
for-profit business
organizations, like San Miguel
Beer, Jollibee, Mang Inasal,
Unilab, Nokia, Smart, Toyota,
Honda, BPI, Metrobank, and
Robinsons.
 But it is also used by
individuals, educational
institutions, national parks,
governments, sports
organizations.
By Nonprofit organizations
Marketing Concept
 The Marketing Concept is
a business philosophy,
which holds that the key to
achieving organizational
goals consists of
determining the needs and
wants of target markets
and delivering the desired
satisfactions more
effectively and efficiently
than competitors do.
Marketing Strategy
Marketing Strategy
 A Marketing Strategy
consists of selecting a
segment of the market as
the company’s target
market and designing the
proper “mix” of
product/service, price,
promotion, and distribution
system to meet the want
and needs of the
consumers within the
target market.
Marketing Research
 Determining the needs and wants of the
market may sound easy and simple, but
consider some of the questions that confront
marketers as they design marketing strategies.
 Marketers need information in order to
develop, implement, and evaluate strategies.
Common types of marketing research
are:
1) Market research (about the
market, size, growth rate,
competition, demographics,);
2) Sales research (where the
sales are coming from, shares
of competition);
3) Product research
(characteristics of the product
that consumers like); and
4) Advertising research
(reactions of consumers to the
firm’s
communications/advertising
program).
Emerging Marketing Issues, Terms, Trends,
and Business Practices
 During the 2004 International
Marketing Convention in Manila,
with the theme “Marketing
Renaissance,” Hermawan
Kartajaya, President of the World
Marketing Association, talked about
spiritual quotient, which aims to put
heart and soul in the way big
businesses must treat their
customers.
 This is one new term and definitely
one challenging issues to the
companies that have been
heretofore, very much focused only
History of Marketing
 Marketing is the paradox, which is not known
to many. It is the world’s oldest professions,
but at the same time he world’s relatively
newest discipline of learning.
 Many so called marketing activities then were
referred as to as either trade or commerce or
distribution.
Some Requirements of Marketing
For marketing to happen, at least four factors are
needed:

 Two or more parties (either persons or organizations)

with unsatisfied needs;
 A desire and ability on their part to be satisfied;
 An opportunity for the parties to communicate; and
 Something of value (idea, goods, or service) to
exchange
Needs and Wants
NEEDS WANTS
 Occurs when a person  On the other hand, is felt
feels physiologically need that is shaped by a
deprived of basic person’s knowledge, culture,
necessities like food, and personality.
clothing, and shelter.  Wants are forms of human
needs take as shaped by a
 Hence, technically, person’s culture and
marketers do not have to individuality.
create needs because
these are physiologically  Other authors define want as
processed needs.
basic.
What is a Market?
 A market is not just a place or a physical
structure. More significantly, market means –
(1) people (2) with the desire and (3) with the
ability to buy a specific product.
Segment or Target Market
 This pertains to one or more specific groups of
potentials consumers toward which an
organization focuses its marketing program.
Target market pertains to the segment of the
marketing manager has identified to participate
in: targeting follows after market segmentation.
 Market segmentation refers to the homogenous
grouping or subdivision of the market, which
may be demographic, geographic,
psychographic.
Four Ps
 Product. A good service, or idea to satisfy the
needs of consumer;
 Price. What is exchange for the product;
 Promotion. A means of communication
between the two parties, seller and buyer;
 Place. A means of getting the product into the
consumer’s possession.
Marketing Mix
 These are the controllable factors in marketing
being managed by the marketing manager, or
somebody in the organization orchestrating the
marketing functions.
 Outside the marketing mix are the environmental
factors, which are uncontrollable, such as social,
economic, technological, competitive, and political
or regulatory factors.
The Marketing Plan
 This is a plan that
integrates the marketing
mix to provide a good,
service, or idea to
prospective buyers.
 The plan basically answers
three questions-
1) Where are we now?;
2) Where do we want to
go?; and
3) How do we get there?
Some basic parts of a full-blown marketing program
include-
1) Executive summary;
2) Description of the market, which covers competition and the
environmental factors;
3) The product/service, its features, benefits, and competitive
edge;
4) strategies and tactics which cover the four Ps, specifically
the marketing communications next and the marketing
channels;
5) Sales for cost, and
6) Profit and loss statement
A Marketing Briefs
On the other hand is an abbreviated marketing plan.
Typically, it is one – or two-page sheet of bond
paper, which contains-
1) Description of the product/service;
2) Target market segments, size, growth, and
competitors;
3) Marketing mix strategy; and
4) Financial forecast
Evolution of Marketing Concepts
Historians classify the stages of marketing concept
evolution into five –
1) Production concept
2) Sales concept
3) Marketing concept
4) Market orientations
5) Societal concepts
A more simplified explanation of the marketing concepts or viewpoints
is to look at marketing as an organizational philosophy as an societal
process, as follows:

 A production philosophy exists when an

organization emphasizes the production function.
 A selling philosophy exists in the company that
puts premium on the selling function, the
assumption being that any product or service can
be sold as long as enough selling effort is put
behind it.
 A marketing philosophy suggests that the
company focuses on satisfying he needs of
Ethics and Social Responsibility
 CSR and Electronic Waste
 Development Has its Waste
 A Paint that is Health-conscious
THE END 