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Lesson 1 Principles of Marketing
Lesson 1 Principles of Marketing
CHAPTER 1
MARKETING PRINCIPLES AND STRATEGIES
Lesson 1:
Marketing and its
Traditional Approaches
MARKETING is the activity of
institutions, and processes for creating,
communicating, delivering, and exchanging
offerings that have value for customers,
clients, partners, and society at large.
1. NEEDS
A human need is something that a
person must have in order to live
and survive.
Maslow’s Hierarchy of Needs
2. WANTS
A human want is something that a
person desires to have.
3. DEMANDS
Demands are also human wants
that are supported by buying power.
4. EXCHANGE
Marketing occurs when the buyer
and seller trade something of equal
value. Both the buyer and the seller
have gained something that
satisfied their unmet needs.
5. MARKET
The market is composed of people
with both desire and ability to buy a
product or service.
PARTICULARS NEEDS WANTS
Hunger Food
Fashion Wear Clothing
Infection Antibiotics
Shelter Housing
Thirst Beverage
Water
Milk
Transportation Vehicle
PARTICULARS NEEDS WANTS
Recreation Sports
Security Insurance
as economies progress, a
growing proportion of their
activities are concentrated
on the production of
services.
3. EXPERIENCES
Through organizing a number of
services and goods, one can
generate, stage, and market
experiences.
4. EVENTS
Marketers endorse
time-based events .
5. PERSONS
celebrity marketing has turn into
a main and popular business.
6. PLACES
Place marketers consist of
economic development specialists,
real estate agents, commercial
banks, local business associations,
and advertising and public relations
agencies.
7. PROPERTIES
Properties are intangible rights of
ownerships of either real
property.
8. ORGANIZATIONS
organizations aggressively labor
to create a strong, positive image
in the mind of their publics.
9. INFORMATION
The production, packaging, and
distribution of information is one
of society’s chief industries.
10. IDEALS
Each market offering has a
fundamental idea at its core.
TRADITIONAL
APPROACHES TO
MARKETING
Traditional concept marketing is a marketing
strategy a company uses to determine if it can
produce a viable product consumers want or need,
whether the company can produce enough products
to fill the need, and the marketing method by which
the need can be filled.
SEVERAL DISTINCT TRADITIONAL APPROACHES
Lesson 2:
Goals of Marketing
Goals are
different from
objectives
Marketing goals are statements
of what results the company
wants to achieve with its
marketing efforts. Just like any
other goal, marketing goals
should be clear. Goals must be
credible and realistic as well
GOALS ARE DIFFERENT OBJECTIVE
FROM OBJECTIVES. Specific SMART objectives to
give clear direction and
commercial targets.
Objectives are the SMART
GOALS targets for marketing which
can be used to track
performance against target.
top-level broad goals to show The SMART mnemonic helps
how the business can benefit
MARKETING
as a test or filter which the
from channels. So, goals are the firm can use to assess the
broad aims used to shape
strategy. They describe how quality of measures.
marketing will contribute to the
business in key areas of
growing sales, communicating
with audience and saving
money.
the detail in the a quantitative a quantitative the objectives be
information attribute to attribute to information set for
sufficient to be applied to be applied to be appliedto different time
pinpoint problems create a create a the specific periods as
or opportunities; metric. metric. problem targets to
the objective faced by the review
sufficiently marketer. against.
detailed to
measure real-
world problems
and opportunities.
Key performance indicators (KPIs)
are used to check that the marketing
activities of a company are on track.
KPIs are specific metrics which are
used to track performance to make
sure the firm is on track to meet
specific objectives. They are
sometimes known as performance
drivers or critical success factors for
this reason.
DEVELOPING MARKETING GOALS
GOALS MUST BE:
GOALS OF MARKETING
CHAPTER 1
MARKETING PRINCIPLES AND STRATEGIES
Lesson 3:
Contemporary Approaches
to Marketing
Not-For-Profit Organization Marketing
A not-for-profit organization is a type of organization that does not aim for earning profit for its owners.
The money earned by not-for-profit organization is allocated for pursuing the organization’s objectives.
Characteristics of a not-for-profit organization
Often
Generate as much possess
Compete some degree
revenue as
with other Market to of monopoly
possible to organizations multiple power in a
support their for donors’ publics given
causes pesos geographic
area
PERSON
MARKETING
1. Being genuine
2.Educating the customers isn’t just a matter of letting people know that the company is
doing whatever its doing to protect the environment, but also a matter of letting them
know why it matters.