Marketing: What is it?

Excerpts from Dr. Felix M. Lao Jr.

Marketing Has become a basic commodity for all “the Customer is always right” “the king in business – the Customer” Addresses the Needs and wants of their customers with goods and services Provides a strategy framework and perspective that certainly goes beyond conventional emphasis .

5ps of Marketing Products Price Promotion Place People .

9 core Marketing concepts Human needs Demands Human wants Products Value and Cost Exchange Transactions Markets Relationship Marketing .

shaped by the environment.  We have very limited needs but our wants are endless  It is important to target customers when developing a responsive marketing program .Needs and Wants  Oftentimes are interchanged and interpreted in similar ways  Need: to be in want of. ought to have. lack of something that is useful or necessary  Wants: are expression of human needs.

Maslows need hierarchy Physiological or body needs Security and safety needs Social needs Ego needs .

Human wants Intentions Expectations Desires Culture Brought about by Individual Development .

Understanding Customer needs and wants Maslow’s need hierarchy Human wants Target Customer Satisfactio n .

Handsome  Macho Image  Romantic Husband Lover  Intellectual  Professionally Stable  Has a Car & House  Well-off Financially . Dark.Typical Need & Wants of Women Need Boy friend Wants  Tall.

Typical Need & Wants of Women Need  Life-Partner  Companion  Friend  Sponsor  Text-mate  Bed-mate Wants “Doctor” “Cebuano” “Basketball Player” “Architect” “OB-GYNE” “High EQ”  Room-mate  Sex-mate .

Explanation  “Doctor”  “Cebuano”  “Basketball Player”  “Architect”  “OB-GYNE”  “High EQ” Inject ng Inject Matigas ang dila shoot ng shoot Erect ng Erect Insert ng Insert Erotic Quotient .

Typical Need & Wants of MEN Need Girl friend Wants  Beauty & Brains  Rich and Famous  Career oriented  Homely & Conservative  Socialite & Carefree Wife Mistress  Respectable family  Masterate/Doctorate holder .

Erotic. Caring.  Kakosa. Daring.  Kasosyo. Kaibigan  Kasintahan. Bold.  Katalik. Pleasing. Sexy. Neurotic.Typical Need & Wants of Men K Kapatid. Wants Amiable. Katulong. Kalaguyo  Kulasisis. Tunay. Kamaganak delights  Kapitbahay. Kalaro ng Apoy Understanding. Restless. Wild. MaL*b*g. Go-go Hippie. Kabarkada. Vibrant. Obedient. Wise. Masunurin. Kasiping. Introvert. Palaban! . Jolly Killer-instinct.

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