Marketing Module

LET’S TALK
ABOUT
Presenter: Prof. Romeo G. Pajigal

LET’S DEFINE:
• is the science and art of exploring, creating, and delivering value to satisfy the needs of a
target market at a profit.
• Marketing identifies unfulfilled needs and desires
• It defines measures and quantifies the size of the identified market and the profit potential.
• According to (America Marketing Association, 2007), is the activity, set of institutions, and
processes for creating, communicating, delivering, and exchanging offerings that have value for
customers, clients, partners, and society at large.
• It is the most basic concept underlying the study of marketing. It is the state of felt deprivation.
HUMAN NEEDS • These needs include physical (food, clothing, shelter and safety), social (needs for belonging and
affection); and individual needs (for knowledge and self expression)
• Are the form taken by a human need as shaped by their culture and individual personality
WANTS • Wants are shaped by one’s society and are described in terms of the objects that will satisfy
needs.
• When backed by buying power, wants become demands

DEMAND
• Given their wants and resources, people demand products that will benefit and provide them
the most value and satisfaction
• These are the combined products offered by a certain company to their market to satisfy their need or want.
Products are classified into two: the goods (tangible products) and the services (intangible products)
• these are products which are considered to be tangible, meaning a customer can hold
GOODS them, and own them examples of goods are cellphones, chairs, food, necklace, etc.
• these are products which are considered to be intangible, meaning you can’t hold, nor
SERVICES own it, but just experience the product. Example of these are: massage spa services;
salon services; bank services; education services, etc
• Marketing offers and value proposition are inseparable. Without a marketing offer there would
be no value proposition. We have defined the former marketing offer as the products being
offered by a company to a certain market for them to satisfy their needs and wants, the latter
(value proposition) is the benefits you will be receiving if you will be consuming a certain
product.
Example:
(1) Massage Spa Services
(2) Cellular Phone
• CUSTOMER VALUE • CUSTOMER SATISFACTION
It is the difference between the values This is a key influence on future buying behavior;
(importance) customer gains from owning and thus satisfied customers buy again and tell others
using a product from the cost of obtaining the about their good experiences. For people to be
product. You would either be satisfied, dissatisfied satisfied with a product the establishment should
or delighted (kotler & amstrong, 2010) make sure that they meet (satisfied) or exceed
(delighted) their customer’s expectations
Exchange, Transaction
and Relationships in Marketing
• According to Kotler & Armstrong (2010), marketing involves the following processes: exchange, transactions,
and relationship.
• Is the act of obtaining a desired object from someone by offering something in return.
EXCHANGE • Example: barter (exchange of good with another good); offer money in return for a
good/service.
• is a trade of values between two parties that involves at least two things of value,
TRANSACTION agreed-upon conditions, a time of agreement, and a place of agreement.
• It is the marketing unit of measurement
RELATIONSHIP • is the process of creating, maintaining, and enhancing strong, value-laden

MARKETING relationship with customers and other stakeholders.
MARKET
• Is defined as the set of all actual and
potential buyers of a product or service.
Market consists of buyers, and buyers
differ in one or more ways. They may
differ in their wants, resources, locations,
buying attitudes, and buying practices
(kotler et al., 2007).
• Also refers to a group of consumers

or organizations that is interested in
a particular product, has the
resources to purchase the product
and is permitted by law and other
regulations to acquire the product
(netmba.Com, 2010).
The Goals of Marketing
• The goal of marketing is to satisfy target customer’s needs, wants, and expectations more
superiorly than competitors (Go, 1998).
• These are the important fold goal of marketing:
INCREASE MARKETING
CREATING A BRAND
SHARE
DEVELOPING BRAND IMPROVING

AWARENESS DISTRIBUTION
The CONTEMPORARY
approaches to MARKETING
RELATIONSHIP BUSINESS MARKETING/

MARKETING INDUSTRIAL MARKETING
• marketing philosophy of building relationships • In this context, marketing takes place between
between brands and customers that will last a businesses or organizations and their product
significant amount of time. focuses on industrial goods or capital goods
rather than consumer goods
SOCIAL MARKETING
INTERNET MARKETING
• It holds that organization should determine • In the advent of technology, new forms of
the needs, wants, and interests of their target marketing have emerged and made use of
markets and delivered the desired internet and are sometimes called as online
satisfactions marketing, digital marketing or desktop
advertising
THE BUYER DECISION PROCESS
DEFINITION OF MARKET
SEGMENTATION
Market segmentation is dividing the market into smaller groups with distinct needs,
characteristics, or behaviors who might require separate products or marketing mixes
Market segment is a group of consumers who respond in a similar way to a given set of marketing
efforts.
According to Grewal and Levy (2012), there are six (6) methods of segmenting market, namely:
1) Geographic segmentation, 2) Demographic segmentation, 3) Psychographic segmentation,
4) Geo-demographic segmentation, 5) Benefits segmentation, and 6) Behavioral segmentation.
The Marketing Mix
• The marketing mix is one of the most famous marketing terms. The marketing mix is the
tactical or operational part of a marketing plan.(Marketing Teacher, 2010)
• Marketing mix is the set of controllable tactical marketing tools – product, price, place, and
promotion – that the firm blends to produce the response it wants in the target market. The
marketing mix consists of everything the firm can do to influence the demand for its product or
service (Kotler and Armstrong, 2010).
Elements of Marketing
• The marketing mix is also called the

4Ps and the 7Ps. The 4Ps are price,
place, product and promotion. The
services marketing mix is also called
the 7Ps and includes the addition of
process, people and physical
evidence (Marketing Teacher, 2010)
Four C’s of Marketing Mix
• R.F. Lauterborn (1993) proposed a 4 Cs classification to address the growing focus of
marketing strategist on the consumer. The traditional marketing mix is a 4 P’s model and is
business oriented.
• The 4 Cs consists of consumer, cost, convenience and communication. The roots of the 4 Cs
of marketing can be traced back to the classical 4 Ps marketing mix
The Product Life Cycle
• Philip Kotler (2009) breaks the product life cycle has five distinct stages: 1) product
development, 2) introduction stage, 3) growth stage, 4) maturity stage, and 5) decline
stage
• The phase when a company looks for a new product. During this
PRODUCT DEVELOPMENT stage, sales are zero and the company’s investment cost mounts.
• The product's costs rise sharply as the heavy expense of advertising and
INTRODUCTION marketing any new product begins to take its toll
• As the product begins to be accepted by the market, the company starts to

recoup the costs of the first two phases. The company starts to experience
GROWTH
rapidly rising sales, average cost per customer, rising profits, early adopters are
targeted, and growing competition
• By now the product is widely accepted and growth slows down. The company
MATURITY now experience sales peak, low cost per customer, high profits, middle majority
are targeted, and competition begins to decline
• A company will no longer be able to fend off the competition or a change

DECLINE
in consumer tastes or lifestyle will render the product redundant
Product Life Cycle Strategies
• is a name, term, design, symbol, or any other feature that identifies one
seller's good or service as distinct from those of other sellers.
BRAND • The legal term for brand is trademark. A brand may identify one item, a
family of items, or all items of that seller (Lake, 2012).
• It is a trademark or distinctive name identifying a product or a
manufacturer (Free Dictionary, 2012).
CHARACTERISTICS OF A BRAND
Packaging Labeling Trademark
• • •

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LET’S TALK

Presenter: Prof. Romeo G. Pajigal

• When backed by buying power, wants become demands

RELATIONSHIP • is the process of creating, maintaining, and enhancing strong, value-laden

• Also refers to a group of consumers

DEVELOPING BRAND IMPROVING

RELATIONSHIP BUSINESS MARKETING/

• The marketing mix is also called the

• As the product begins to be accepted by the market, the company starts to

• A company will no longer be able to fend off the competition or a change

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