Marketing

Principles
and
Strategies

Chapter 1
 What is
Marketing?

Is the process of

continuously and
profitably satisfying
target customer’s
needs, wants and
expectations superior
to competition

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Two Interacting Components of Marketing

COMPANY MARKET
Two Interacting Components of a Market

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Customer Competition
The Strategic 3Cs of Marketing
Key Objectives of the 3Cs of Marketing

3 Cs Key Objectives
Customers To Satisfy the needs, wants and
expectations of target customers

Competition To outperform competition.

Company To ensure corporate health and profit.
Input & Output of Marketing

Sales

Customers

Company
Competition

Profit
Market Shares
KEY RESULT AREAS (KRAs)

A.

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KEY RESULT AREAS (KRAs)

B. Market
Share

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KEY RESULT AREAS (KRAs)

C.
NEEDS

are the basic

reason or the
minimum
requirement
consumers look
for in a product
or service.
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 WANTS

- are the
determining
dimensions
among many
choices.
EXPECTATIONS- are actually part of “wants” but they become extremely
important when products or services are not differentiated.
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FEATURES
ADVANTAGES
BENEFITS

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 Better than Before (
Sales to the Customer)
MARKETING
PHILOSOPHY
Better than Others (
Market shares as to
Competition)

Better than Expected (

Profit of the Company)
What are the Approaches to Marketing?

1. Traditional
Marketing
What are the Approaches to Marketing?

2. Contemporary
Marketing
What are the Goals of Marketing?

Step 1: Awareness. Make your target market

know you.
What are the Goals of Marketing?

Step 2: Availability.

Make products available according to the purchase

pattern of the target consumers.
What are the Goals of Marketing?

Provide a low risk initial

experience to allow target
Step 3: Trial.
consumers and customers
to form positive impression.
What are the Goals of Marketing?

Form an ongoing relevant

relationship by continuously
Step 4: Repeat Purchase. satisfying needs and wants
of target consumers to be
preferred brand.
MARKETING MIX

IS A SET OF CONTROLLABLE AND

INTER-RELATED VARIABLES
COMPOSED OF PRODUCT, PLACE,
PRICE AND PROMOTIONS THAT THE
COMPANY ASSEMBLES TO SATISFY A
TARGET GROUP BETTER THAN
COMPETITION.
FOR SERVICE, ADDITIONAL
MARKETING MIX ELEMENTS ARE
NEEDED- PEOPLE, PROCESS, AND
PHYSICAL ENVIRONMENT.
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FUNCTIONS OF MARKETING MIX (4P’s)

1. Product- To satisfy the needs and wants of target market.
 FUNCTIONS OF
MARKETING MIX
(4P’s)

2. Placement or Distribution- To
make the product conveniently
available to the target market
consistent with their purchasing
patterns.

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FUNCTIONS OF MARKETING MIX (4P’s)

Promotions has 4
components called
3. Promotions- To build
the Promotion mix:
and improve
Advertising, Public
consumer demand.
Relations, Selling and
Sales Promotion.
FUNCTIONS OF MARKETING MIX (4P’s)

4. Price- To make the product affordable to the target market

and reflect the value of benefits provided.
FUNCTIONS OF 3 ADDITIONAL MARKETING MIX FOR
SERVICE INDUSTRIES.

1. Physical Environment- Place where

service is performed.
FUNCTIONS OF
3 ADDITIONAL
MARKETING 2. Process- Procedures, flow of activities, and
other mechanisms that deliver the intended
MIX FOR experience.

SERVICE
INDUSTRIES.
FUNCTIONS OF 3 ADDITIONAL MARKETING MIX FOR
SERVICE INDUSTRIES.

3. People- Members of the team who contribute to the delivery

of the service and its brand promise.