Marketing

Principles &
Strategies
Click icon to add picture
 • In the definition of
marketing given by the
American Marketing
Association or AMA,

“Marketing is an organizational
function and a set of processes for
creating, communicating, and
delivering value to customers and
for managing customer
relationships in ways that benefit
the organization and its
stakeholders.”

02/21/2022 Annual Review 3

 • The definition of Marketing according to Dr. Philip Kotler, “A social
and managerial process whereby individuals and groups obtain
what they need and want through creating and exchanging products
and value with others.”
• It is also defined as the meeting of the minds between the seller and
the buyer to satisfy human needs and wants with profit on the part of
the marketer and the satisfaction of thee buyer for the money he
spent.
• From the academic point of view, marketing is the art and science of
creating tangible products or services and finding the market, getting
and retaining them to attain profitable operations.

02/21/2022 Annual Review 4

 • Goal: Attract new customer by promising superior value and keep and grow
current customers by delivering satisfaction.

• The company and its market are equally important. It is marketing that gives
fulfilment to both components. Marketing people should balance between the
company’s requirements for profit and desired market share.
• This is composed of two other interacting components: the customer and
competition.

02/21/2022 Annual Review 5

02/21/2022 Annual Review 6
 • Need is one important component in the marketing of products. It is the
consumer’s desire for a product or service. The product or service must have
specific benefits that satisfy the functional or emotional needs. On the other hand,
basic needs are food, clothing, and shelter.
• Food can be processed in different tastes; styles and menus that shall meet the
human craving and satisfaction.
• Clothing could be designed into different styles depending on people’s taste and
social values.
• Shelters are constructed differently depending on the capacity of the buyer to
finance his home. These needs are the marketer’s point of interest for profit.
• Wants are higher-level human needs as they appeal more to the emotions. These
are the social needs for recognition and the development of higher social
satisfaction is limitless. The development of technology and different electronic
gadgets are more of human wants. The marketers must continuously improve
technological inventions to sustain customer wants.
02/21/2022 Annual Review 7
02/21/2022 Annual Review 8
 Click icon to add picture

Concepts of
Marketing
 Concepts of Marketing
• According to Garovillas (2004), he stated that 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 satisfaction
more effectively and efficiently than competitors do.
• While it is important to satisfy customer wants and needs, this could only be
achieved under the following marketing concepts:

02/21/2022 Annual Review 10

 1. Marketing must be Customer Oriented.
• The whole marketing organization and its operating staff must be focused on
determining what will satisfy the needs and wants of the target customers, the
important link in the business operation.

2. Marketing must be Coordinated Activities

• Coordination activities must start in the product planning process, the process.
The product is the key element that the customer wants to buy that is worth his
money.

02/21/2022 Annual Review 11

 3. Marketing must be able to achieve the
Performance Target Goals and Objectives.

• Customer-oriented and coordinated marketing aims to achieve its profit,

objectives and goals. These goals and objectives hinge on the increase in sales
volume and customer’s patronage.

02/21/2022 Annual Review 12

 Factors for Developing Marketing
Concepts
1. Capturing Marketing Insights
- The overall direction must focus on its vison and mission.
2. Effective Financial Management System
- This system in the procurement of quality and affordable materials for processing of the
product is a vital component in effective operation of the marketing system.
3. The Value of Human Resources
- All business activities need human resources in their operation. The employees must be
committed in the production of quality products and the delivery of quality service.
4. The Production Process
- The process must conform to standards in terms of product quality. The race to
economic profitability is the production of products that shall satisfy the customer’s wants and
needs.
02/21/2022 Annual Review 13
 Factors for Developing Marketing
Concepts
5. The Presence of Competitors
- The marketing of products becomes interesting with the presence of competitors.

02/21/2022 Annual Review 14

 Traditional Concept Marketing

is a marketing strategy a company uses to determine if it can produce a viable product

consumer 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.

02/21/2022 Annual Review 15

 Several Distinct Traditional Approaches:
1. Production concept focuses on the internal potentials of the company and not
based on the desires and needs of the market.
2. Marketing concept a philosophy which states that organization must try hard to
find out and satisfy the needs and wants of consumers while at the same time
accomplishing the organizational goals.
3. Sales concept refers to the idea that people will buy more goods and services
through personal selling and advertising done aggressively to push them in the
market.
4. Relationship concept/marketing an approach that centers on maintaining and
improving value-added long-term relationships with current customers,
distributors, dealers and suppliers.
5. Societal Marketing Concept views that organizations must satisfy the needs of
consumers in a manner that gives for society’s benefit.
02/21/2022 Annual Review 16