Principles of Marketing, Senior High School, 2020 PDF

Senior High School PRINCIPLES OF MARKETING Cover photo courtesy of: Fiona Gael A. Llego Principles of Marketing – Grade 12 Quarter 1 – Module 1: Marketing Principles and Goals First Edition, 2020 Republic Act 8293, section 176 states that: No copyright shall subsist in any work of the...

Senior High School PRINCIPLES OF MARKETING Cover photo courtesy of: Fiona Gael A. Llego Principles of Marketing – Grade 12 Quarter 1 – Module 1: Marketing Principles and Goals First Edition, 2020 Republic Act 8293, section 176 states that: No copyright shall subsist in any work of the Government of the Philippines. However, prior approval of the government agency or office wherein the work is created shall be necessary for exploitation of such work for profit. Such agency or office may, among other things, impose as a condition the payment of royalties. Borrowed materials (i.e., songs, stories, poems, pictures, photos, brand names, trademarks, etc.) included in this module are owned by their respective copyright holders. Every effort has been exerted to locate and seek permission to use these materials from their respective copyright owners. The publisher and authors do not represent nor claim ownership over them. Published by the Department of Education Secretary: Leonor Magtolis Briones Undersecretary: Diosdado M. San Antonio Development Team of the Module Compiler/ Contextualizer: Elizabeth Lou A. Llego and Jennifer A. Sanchez Editors/Reviewers: Alice Ganar, Daisy Von Dy, John Paul J. Kapuno, Edwin L. Perino Anna Hazel A. Vasaya, Joy Andilab, Ricky G. Agbay Management Team: Dr. Rhea Mar A. Angtud, Ed.D Schools Division Superintendent Dr. Grecia Bataluna Chief, Curriculum Instruction Division Dr. Luis Derasin, Jr. SHS Division Coordinator Mrs. Vanessa Harayo, LLB. Division EPS In-Charge of LRMS Department of Education – Schools Division of Cebu City, Region VII Office Address: New Imus Road, Day-as, Cebu City, Philippines Telefax: 032-2551516 E-mail Address: [email protected] Website: http://www.depedcebucity.com  12 PRINCIPLES OF MARKETING Quarter 1- Module 1: Marketing Principles and Goals i Introductory Message For the facilitator: Welcome to the Principles of Marketing, a specialized course in the Accountancy, Business and Management strand. This course deals with the principles and practices in marketing goods and services. It also focuses on the development of integrated marketing programs that will help the learners grow their businesses. This module was collaboratively designed, developed and reviewed by educators from public institutions to assist you, the teacher or facilitator in helping the learners meet the standards set by the K to 12 Curriculum while overcoming their personal, social, and economic constraints in schooling. This learning resource hopes to engage the learners into guided and independent learning activities at their own pace and time. Furthermore, this also aims to help learners acquire the needed 21st century skills while taking into consideration their needs and circumstances. In addition to the material in the main text, you will also see this box in the body of the module: Notes to the Teacher This contains helpful tips or strategies that will help you in guiding the learners. As a facilitator you are expected to orient the learners on how to use this module. You also need to keep track of the learners' progress while allowing them to manage their own learning. Furthermore, you are expected to encourage and assist the learners as they do the tasks included in the module. ii For the learner: Welcome to the Principles of Marketing, a specialized course in the Accountancy, Business and Management strand. This course deals with the principles and practices in marketing goods and services. It also focuses on the development of integrated marketing programs that will help you grow your future businesses! The hand is one of the most symbolized part of the human body. It is often used to depict skill, action, and purpose. Through our hands we may learn, create, and accomplish. Hence, the hand in this learning resource signifies that you as a learner is capable and empowered to successfully achieve the relevant competencies and skills at your own pace and time. Your academic success lies in your own hands! This module was designed to provide you with fun and meaningful opportunities for guided and independent learning at your own pace and time. You will be enabled to process the contents of the learning resource while being an active learner. The following parts and corresponding icons: This part includes an activity that aims to check what you already know about the lesson to take. What I Know If you get all the answers correct (100%), you may decide to skip this module. This will give you an idea of the skills or What I Need to competencies you are expected to learn in the Know module. This is a brief drill or review to help you link the What’s In current lesson with the previous one. In this portion, the new lesson will be introduced to you in various ways such as a story, a song, a What’s New poem, a problem opener, an activity or a situation. This section provides a brief discussion of the lesson. This aims to help you discover and What is It understand new concepts and skills. This comprises activities for independent practice to solidify your understanding and skills of the What’s More topic. You may check the answers to the exercises using the Answer Key at the end of the module. This includes questions or blank What I Have sentence/paragraph to be filled-in to process Learned what you learned from the lesson. This section provides an activity which will help you transfer your new knowledge or skill into real What I Can Do life situations or concerns. iii  This is a task which aims to evaluate your level of Assessment mastery in achieving the learning competency. In this portion, another activity will be given to Additional you to enrich your knowledge or skill of the lesson Activities learned. This also tends retention of learned concepts. This contains answers to all activities in the Answer Key module. At the end of this module you will also find: References This is a list of all sources used in developing this module. The following are some reminders in using this module: 1. Use the module with care. Do not put unnecessary mark/s on any part of the module. Use a separate sheet of paper in answering the exercises. 2. Do not forget to answer What I Know before moving on to the other activities included in the module. 3. Read the instruction carefully before doing each task. 4. Observe honesty and integrity in doing the tasks and checking your answers. 5. Finish the task at hand before proceeding to the next. 6. Return this module to your teacher/facilitator once you are through with it. If you encounter any difficulty in answering the tasks in this module, do not hesitate to consult your teacher or facilitator. Always bear in mind that you are not alone. We hope that through this material, you will experience meaningful learning and gain deep understanding of the relevant competencies. You can do it! iv  QUARTER 1 MODULE 1, WEEK 1 MARKETING PRINCIPLES AND GOALS Content Standard : The learner demonstrates an understanding of the marketing principles, goals, and traditional and contemporary approaches to marketing Performance Standard : The learner shall be able to plot marketing goals and approaches for product or service Competencies : Define and understand marketing principles, goals and approaches. ABM_PM11-Ia-b-1 Learning Outcomes : 1. Define and explain Marketing and its Concepts 2. Explain the Marketing Process 3. Identify the common Goals of Marketing 4. Formulate goals for the business of their choice 5. Identify the roles of a marketer What I Know Let us try to check what you already know about Marketing! Instruction: Choose the letter of the best answer and write it on a separate sheet of paper. Please do not forget to write the following in your answer sheet: Name: _____________________________________ Year and Section: __________________ Subject: _______________________ Quarter No. ____________ Module No. ___________ Name of the Activity What I Know Date: _________________ _____1. Which of the following does NOT belong to the group? A. Company B. Customers C. Competition D. Commodity _____2. What is the total system of interacting business activities designed to plan, price, promote and distribute want-satisfying goods or services to present and potential customers? A. Consumerism B. Market C. Marketing D. Promotion _____3. Which is of the following is the marketing element that has something to do with what is the most affordable price for customers, their capacity to pay, and their willingness to pay? A. Place B. Price C. Product D. Promotion _____4. Which of the following refers to the condition wherein expectations are met? A. Satisfaction B. Goals C. Want D. Objectives 7 _____5. Which is the type of product that has a physical form? A. Intellectual Property B. Goods C. Experiences D. Service _____6. Which of these are specific goals that can be measured in either short-term or long-term period, and is characterized as Specific, Measurable, Attainable, Relevant, and Time-bounded (SMART)? A. Target B. Expectations C. Objectives D. Satisfaction _____7. Which of these are aspirations that every company would like to pursue, the general direction that it wants to take which serves as the main purpose of the company, and are usually attained in a long period of time? A. Goals B. Expectations C. Objectives D. Satisfaction _____8. Which one is known as the 4P’s (Product, Price, Place, Promotion) of Marketing? A. Consumerism C. Sales promotion B. Marketing mix D. Modern Marketing System _____9. Which role of a marketer mediates between the interests of the company and the needs of the consumers? A. Instigator B. Innovator C. Integrator D. Implementer _____10. Which is NOT an example of the marketing goals of most companies? A. To generate a 15% increase in sales every year. B. To develop and maintain a profitable base of loyal customers. C. To understand customers’ behavior and communicate to them the marketing offerings. D. To develop products and services which contribute to the quality of life and promote environmental conservation. _____11. When a marketer ensures that their products have an edge over those developed by the competitors, he takes on the role of an? A. Instigator B. Innovator C. Integrator D. Implementer _____12. Who among the following acquires goods or services for direct use and has no intention of reselling them or using them to create another good or service? A. Consumer B. Customer C. Marketer D. Producer _____13. Who among the following are the actual or the potential buyers of a product? A. Customer B. Market D. Industry D. Target Market _____14. Who among the following are the most probable and most logical customers and may likewise be the heaviest customers? A. Consumer B. Market C. Industry D. Target Market _____15. Which of the following does NOT belong to the group? A. Place B. Price C. Principles D. Product 8  Lesson Marketing and the Process 1 What I Need to Know The customer is always at the center of the entire marketing process. Marketing is continuously satisfying the customers’ needs and wants at a profit. It is therefore the marketer’s challenge to create and produce products or services after identifying the needs and wants of customers and to meet societal and environmental demands. Consumers also need a certain level of marketing knowledge to properly communicate their demands to these marketers. And this knowledge will benefit you as a student as well as a consumer and as a future marketing professional. This Lesson1 of Module 1 will enable you to: Define and explain Marketing and its Concepts Explain the Marketing Process What’s In Instructions: Carefully read the excerpt from Rey Gamboa’s Pinoy Success Story taken from the Philippine Star on August 31, 2013 and answer the questions below. Write your answer on a separate sheet of paper. One of the Cinderella success stories in local entrepreneurship is Julie’s Bakeshop which had its roots in Cebu City. Business & Leisure talked with Mr. Bien Topacio, a member of the Gandionco clan which started Julie’s Bakeshop and is now the franchise business development manager of Julie’s, as he traced the humble beginnings of the bakeshop. Figure 1 Julie’s came into being in 1981. Prior to that, Mrs. Julie Gandionco, the clan’s matriarch who started it all, toiled hard as a canteen concessionaire of a large factory in Cebu that employed thousands. If you run the canteen of such a huge company serving thousands of hungry employees, one can imagine the volume of cooked food that comes out of Julie’s kitchen, day in and day out, from morning to afternoon. Even the bread that she served in the canteen accounted for a big volume, such that she had to farm out her daily orders to many small bakeries just to keep us with her daily bread allocation. In one of these bakeries, one of the employees, a 9 baker himself, remarked on how big her volume of daily bread needs was, and that she should just consider putting up her own bake shop instead of giving the business to others. According to Bien, Julie herself loved to cook, which is essentially why she chose the canteen business to start with, but she didn’t know a thing about baking. She was hesitant to go into the bakery business, until the baker himself offered: “Why don’t you just get me to bake for you and so you can open your own bake shop? That was in 1981, and Julie’s Bake Shop opened in Wireless, Mandaue in Cebu. It was an immediate hit, and not too long after, a second branch opened in Urgello St., and the chain of bake shops was well on its way. In 1988, the first Julie’s Bake Shop opened outside of Cebu, in Iloilo City. All these stores were family-owned, (some with partners) a testament to how hard-working the family was and how the driven matriarch ruled by example. Here was a housewife/mother-turned- businesswoman who did not have fancy educational credits to her name, no master’s degree, or PhDs to speak of, just a lot of perseverance, hard work and good business sense. Thirty-two years later, Julie’s Bake Shop is the largest chain of bake shops in the Philippines. In this country where there is a bake shop in every corner in every community, this is no mean feat. Discussion Questions: 1. How did Julie start the baking business? 2. What was her strategy that she was able to open several branches after for a short period of time and expand it outside Cebu City? 3. What is the classification of Julie’s Bakeshop as to its nature of business activity? What’s New Marketing is a daily experience of an individual as a consumer. Do you recognize what products and services do you regularly use or avail everyday? ACTIVITY: FILL IN THE BLANKS Instructions: Inside the parentheses below are different products. You are to choose your favorite brand of that specific product category. The first one is given as an example. Please do not forget to write the following in your answer sheet: Name: _____________________________________ Year and Section: __________________ Subject: _______________________ Quarter No. ____________ Module No. ___________ Name of the Activity What’s New Date: _________________ 10  I am very eager to go back to school and learn new things. This school year is quite challenging yet exciting. We really have to be adaptive to the new normal and be innovative and be creative. We have transformed our living area as our study area. We still have plenty of ex: Mygel (pens) and (1)________(pencils), and (2)________(papers). We also utilized the unused sheets of our old (3)________(notebooks). We only have limited gadgets: one basic (4)________(cellphone), one (5)________(smart phone) but these are for my parents’ use. So, me and my two siblings just opted the printed modular Figure 2 modality. I was so productive during the quarantine period. I always got up early by setting the time from my (6)________(alarm clock) at 6:00AM. After saying my thanksgiving prayer daily, I started my routine by fixing my bed, folding my (7)________(blanket). Every time I go Figure 3 downstairs, I always brought with me my (8)________(towel). My mom would always ready a list of foods for me to cook breakfast. Now that we are just at home, I am given this task as a responsible eldest child, so am certainly happy to be of service to my mom! Breakfast is vegetable & fruits with (either (9)________(hotdog) or (10)________(corned beef) or (11)________(tuna) and egg. My younger sibling also helps in preparing (12)________(milk) for us and (13)________(coffee) for my dad. My mom is on diet and will only take few slices of (14)________(bread) along with either (15)________(peanut butter) or (16)________(cheese spread). We always eat together during breakfast. My other sibling takes care of washing the dishes. What Is It DEFINITIONS OF MARKETING Marketing is the process of continuously and profitably satisfying target customer’s needs, wants, and expectations superior to competition (Go & Go, 2017) is a form of communicating or promoting the value of a product, service, or brand to the customers (So, Torres, & De Guzman, 2016) is the activity, set of institutions, and process for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large as defined by The American Marketing Association (2013) is a total system of interacting business activities designed to plan, price, promote and distribute want-satisfying goods or services to present and potential customers (William J. Stanton) 11  is a science and profession guided principally by the universal principles of ethics, corporate citizenship, and corporate responsibility (Philippine Marketing Association) Through the years the definition of marketing has included non-profit institutions like education and health care providers. It has also emphasized that business’ responsibility goes beyond the survival of the firm; the betterment of society should also be considered. Marketing activities apply not only to profit-oriented businesses (e.g. Jollibee, SM, etc.) but also to non-profit organizations (e.g. Philippine Red Cross, foundations, and the like). In simpler terms, Marketing is delivering customer satisfaction at a profit by (1) attracting new customers by promising superior value, and (2) keeping current customers by delivering satisfaction. FIVE CORE CONCEPTS OF MARKETING (Kotler & Armstrong, 2001) 1. Needs, Wants, Demands (Expectations) 2. Market Offerings: Products and services 3. Value, Satisfaction, Quality 4. Exchange, Transactions, Relationships 5. Markets 1. Needs, Wants, Demands Needs – are states of felt deprivation, a part of human makeup; these are physiological necessities (food, clothing, shelter); including safety and warmth; social needs-love, belongingness, relationships; esteem-prestige & accomplishments; individual-knowledge & self-expression required by a human being for the health and well-being of his body and mind. These are the qualifying or the “gatekeeper” dimension in a purchase. An unsatisfied need is defined as a condition that motivates a consumer to satisfy the unmet need. Figure 4 below shows the hierarchy of needs according to Abraham Maslow. Wants - are more psychological, indicating preferences which could improve the consumer’s life condition. Demands – are human wants that are backed by buying power. 12  Figure 4. Abraham Maslow’s Hierarchy of Needs Marketing is thinking about business in terms of customer needs and their satisfaction. And as peoples’ needs, wants, expectations are varied, more so insatiable (cannot be satisfied), marketing therefore is dynamic as it changes overtime as people change. All our needs must be satisfied like the need for food, clothing, and shelter. Of course, not everyone shares the same tastes, preferences, and beliefs in the benefits we get from commodities available in the market. We all vary in looking for products or services that satisfies our needs, wants, and demands/ expectations. It is in this regard that most companies conduct market research on this before producing a product. Companies must make sure their product is highly needed, will be wanted, and will meet the expectations of a prospective market of the product to meet the marketing goals of the company. 2. Market Offerings Product - is anything that can be offered to satisfy a need or a want: physical product (good), service, experience, person, place, organization, information, idea. Service – is a type of product; a work performed for remuneration/pay. Key Players in Market Offerings Marketer – is a person who identifies the goods and services needed or wanted by customers and markets them. Customer – is a person or business that buys goods or avails of services produced. Consumer – refers to a person who acquires goods or services for direct use and has no intention of reselling them or using them to create another good or service. 13 3. Value, Satisfaction and Quality Value - refers to the value customers place on a product or service. Since customers have different needs and buying capacities, consumers assign varying values on the same product or service. The product with the highest quality does not always provide the highest value for costumers. The perception of the value is affected by the cost acquired to acquire the product or service. Satisfaction – is the measure of how well customer expectations from a purchased product or service have been met. Quality – is closely related to satisfaction; its broad definition: ability to satisfy customer needs; its narrow definition: no defects According to Torres and De Guzman (2016), to ensure maximum value and satisfaction, marketers must: Balance product or service quality and price Establish consistency among product availability, level of customer service and efficiency. Create a buying atmosphere and deliver purchase convenience. 4. Exchange, Transactions, Relationships Exchange - refers to the trade of things or services, or ideas of value between buyer and seller. Offerings could be money, product, service, idea. Transaction – refers to a trade of values between two parties; it is marketing's unit of measurement. (either monetary transactions or barter transactions) Relationship (Marketing) – is going beyond short-term transactions; it is long- term relationships with valued customers, partners, etc. Marketing network – is the company and all its supporting stakeholders 5. Markets Market – according to an Economist's definition, it is a place (virtual or physical) where buyers and sellers meet; Market – according to a Marketer's definition, it is the set of actual and potential buyers of a product; the sellers of a product are labeled as the “industry”. Industry – according to a Marketer's definition, pertains to the sellers of a product. Target Market – the most probable and most logical customers and may likewise be its heaviest customers. 14 THE MARKETING PROCESS The marketing process can be illustrated in the following diagram: (So, Torres, & De Guzman, 2016) Figure 5. The Marketing Process Prior to the marketing of specific products and/or services, a marketing company conducts a thorough analysis of the external environment, the market, its competitors and customers, and an incisive audit of its internal operating characteristics. This is followed by the formulation of relevant marketing strategies coupled with a calibrated response using the elements of marketing commonly known as the 4P’s which stand for Product, Price, Place, Promotion. As soon as marketing strategy is implemented, regular monitoring takes place to identify deviations, and if necessary, adjust any or all elements of the marketing mix. This will be further elaborated in Module 5. As a process, Marketing involves creating the right product, offering it a right price, making it available to consumers at the right place, and communicating it to them with the right promotion. (see Marketing definition by the American Marketing Association (2013 earlier). The Marketing Activities The Marketing Elements (4P’s), or known as in the Marketing Process the Marketing Mix (Te, Marte, & Abrina, 2018) Creating A product with useful and attractive features for the customers Pricing A price affordable to the customers Distributing A place where customers can conveniently buy the product Communicating A promotion that will capture the attention of customers 15 All these elements (4P’s) are strategically planned/mixed to complement one another to achieve goals. Goods & services created based on customer’s dimensions of satisfaction provides greater advantage in the competition. “The simplest, oldest, and most natural way of marketing a service or product for profit and nonprofit purpose is “by word of mouth”. To identify and appeal to a group of consumers, activities such as advertising, branding, pricing, and sales are some of the strategic functions involved. Key Objectives of the 3C’s of Marketing: (Go & Go, 2017) According to Go & Go (2017), “the overriding objective of the company is to first have a bond with the customer to develop a relationship that is customer-centric, then to think of a competitive advantage that addresses gaps in the customer’s world. This means that while companies must primarily know the problems of the customers, they must provide a solution while being profitably superior to their competition.” Key Objectives of the 3C’s of Marketing (Go & Go, 2017) 3C’s Key Objectives 1. Customers 1. To satisfy the needs, wants and expectations of target customers. 2. Competition 2. To outperform competition. 3. Company 3. To ensure corporate health and profit The marketing philosophy of “being better than before, better than others and better than expected” can provide a standard for judging marketing effectiveness. What’s More ACTIVITY: IDENTIFICATION Instruction: Identify which of the 4P’s of Marketing is being referred to. Write your answers on a separate sheet of paper. _________1. A “Buy 1 Take 1” opening promo of burgers of a newly-opened food store. _________2. The core i5 laptop of Lenovo ideapad series. _________3. An online store that guarantees delivery of milk teas on time. _________4. Max's Restaurants: The world is better when we come together. _________5. The cheapest face shield I was able to buy. _________6. Lazada, Zalora, and the other virtual stores _________7. Facebook ads _________8. Shall I buy the most expensive face mask? _________9. Winrox: train to Busan _________10. The only open gadget store in E-mall where I bought my smart phone. 16  What I Have Learned ACTIVITY: APPLICATION OF THEORIES/PRINCIPLES Instruction: Choose an existing product in the market. List down five (5) of its top competing brands. After which describe the competitive advantage of the product you have chosen. Please do not forget to write the following in your answer sheet: Name: _____________________________________ Year and Section: __________________ Subject: _______________________ Quarter No. ____________ Module No. ___________ Name of the Activity What I Have Learned Date: _________________ 1. Choose the best product in the market _____________________________________ 2. Choose its top 5 rival products: ____________________________________________ ___________________________________________________________________________ 3. What is the superior value (or the distinguishing or outstanding feature) of your chosen product compared to its rivals in terms of the 4P’s of Marketing? Product___________________________________________________________________ Price ______________________________________________________________________ Place______________________________________________________________________ Promotion ________________________________________________________________ 4. If you were the 2nd best product (the no.1 rival product), what will you do to outperform your competitor and make your product excel? Discuss your answer. ___________________________________________________________________ What I Can Do ACTIVITY 1: MY SIMPLE PROPOSAL Instructions: Your father was a driver of a touring business and was offered to purchase the van he is driving on a rent-to-own basis. He was able to pay with his daily income as a driver, but when the pandemic started, he has yet to pay the remaining balance of 25%. Tourism for now is out of service, and your father is out of job. Now, he wants to sell it to make money. Your mom used to have an eatery near the school a few years back but closed it to take care of the younger siblings. Everyone is upset but you knew that when an opportunity closes, another opens, and you just must be quick, adaptive, innovative, and creative, and seize the opportunities out of these problems. You wanted to help-out and figured-out that there is a better solution to your family’s problem. What would you propose to your family, and how will you do it? Check the list of activities below and organize them accordingly by writing the corresponding correct sequence. Please do not forget to write the following in your answer sheet: Name: _____________________________________ Year and Section: __________________ 17 Subject: _______________________ Quarter No. ____________ Module No. ___________ Name of the Activity What I Can Do Date: _________________ Identify who will be your customers and analyze the buying behavior of the possible customers in your area. A. Make action plans, based on the marketing mix (4P’s). B. Discuss with your family and help them analyze the market needs, wants, and demands of the community this time of pandemic. C. Develop strategies to check for positive response for your planned food business from the customers. D. Tell your relatives and friends to tell their friends of your new business. E. You tell your parents how your family can market the family’s skills, capabilities, expertise, resources, by pointing out that your mom can still actually continue her food business and you father may serve as delivery serviceman. ACTIVITY 2: MY SIMPLE MARKETING PLAN Instruction: Craft a simple marketing plan of the above scenario, using the matrix below. The Marketing Process Activities Creating Pricing Distributing Communicating Lesson Goals of Marketing 2 What I Need to Know This lesson 2 of Module 1 will enable you to: identify the common goals of marketing formulate your marketing goals for your product or service interpret the roles of a marketer What’s In ACTIVITY: UNFULFILLED MARKETING GOALS 18 Instructions: In the previous lesson, you have identified the different brands that you are regularly using. This time I want you to research on two brands that no longer exist. Research what cause the brand to fail? What unfulfilled marketing goals contributed to this? Write your answers on a separate sheet of paper. What’s New One of the main goals of a company is to gain profit. However, for marketing-oriented businesses, there are other important goals that need to be satisfied. In this Lesson2, you will learn that marketing goals guide a company in achieving its objectives. With the correct strategies, these goals can give the company a competitive advantage in the market and enable it to sustain its functions and continuously serve its market and reward its investors. What Is It MARKETING GOALS AND OBJECTIVES Goals are aspirations that every company would like to pursue or the general direction that it wants to take. Goals serve as the main purpose of the company and are usually attained in the long term. Although it is primarily broad, a goal should not be overly extensive that it becomes difficult to translate it into specific objectives. Examples: 1. To become the market leader of a (particular) business or industry 2. To build customer loyalty through a (particular) marketing program 3. To expand our markets and identify new markets for our product or service 4. To provide positive name of product or service or experience to customers Objectives are the specific goals that can be measured in the short term (one year or less) or the long term (more than one year). Thus, objectives should be SMART or specific, measurable, attainable, relevant and time-bounded. Examples: 1. To achieve 20% of sales through online marketing this pandemic 2. To achieve 20% market share by the end of 2022 3. To generate a 15% increase in online sales every year 4. To increase the number of repeat customers by 5% every quarter Marketing is the key for success of any organization whether it is for profit or non- profit organization. By simply knowing its purpose you will be able to realize the importance of marketing. 19 Common Marketing Goals 1. Understand the market and its consumers and satisfy their changing needs and wants. 2. Introduce and innovate products and services that improve on human condition and the quality of life and promote environmental conservation. 3. Design and implement effective customer-driven marketing strategies and develop marketing programs that deliver superior value to consumers. 4. Build or develop and maintain mutually beneficial and profitable base of loyal customers or lasting relationships with customers. 5. Capture customer value to create profits: building brand awareness, generating high sales lead volume, establishing thought leadership, boosting sales, and increasing brand engagement. Brand – is a symbol, logo, words, or a combination of these elements that a company uses to distinguish its products or services from others. Branding – the ability of manufacturers to successfully distinguish their products from other competitors. Brand Awareness – is the extent to which a brand is recognized by potential customers and is correctly associated with a particular product or service. Thought leadership – is a technique that uses the expertise of people who can provide the best answers to customers’ most challenging questions about the product or service. Lead Volume – is the number of sales leads that will ultimately be converted into customers. Sales Lead – is a potential customer who is interested in the product or service. 6. Support the other functional areas of business in achieving the company or corporate goals. 7. Promote value transactions with full regard to the well-being of societies. The Roles of the Marketer One of the primary goals of the company is to maintain a profitable base of loyal customers. The primary focus of marketing is that all marketing activities are integrated and focused on the customers. The job of the marketer is not just to find the right customers for the product, but also to find or develop the right products for customers. Thus, Comstock, Gulati, and Liguori (2010) have identified these important functions or the 4 roles of a marketer in a company: 1. Instigator – marketers serve as strategists who analyze current market trends to guide actions of the company. This requires them to “think outside the box” 20  and come up with creative ways to change the status quo and gain an advantage over the competition. 2. Innovator – marketers are tasked with researching the kind of product the customers need and ensure that the product developed not only meets customers’ expectations but also exceeds them. The marketer also ensures that their products have an edge over those developed by the competitors. 3. Integrator – marketer mediates between the interests of the company and the needs of the consumers, ensuring that they are integrated into the development of the product. They communicate customer insights and opinions to the company and make sure that this information reaches the concerned departments, such as the sales department and R& D (Research and Development) department, to aid product development. 4. Implementer – this role is more general. The marketer ensures that the marketing strategy for the developed product is in place and implemented effectively. The marketer makes sure that the strategy and production process are integrated, and all customer insights are considered. There are other specific roles and functions of a marketer, and since the lifeblood of the company is profit, the marketer’s main responsibility is to maximize profitability. Nevertheless, a company has goals and objectives other than gaining income, that is why a marketer must exert all effort to achieve these. What’s More ACTIVITY: IT’S YOUR GOAL! Instructions: You are to create your own dream company with your ideal product or service. What will be your goals and objectives to make your business succeed? Follow the format below and please do not forget to write the following in your answer sheet: Name: _____________________________________ Year and Section: __________________ Subject: _______________________ Quarter No. ____________ Module No. ___________ Name of the Activity Lesson 2: What’s More Date: _________________ Your Dream Company Name ______________________________________ The type of Business ______________________________________ Product or service you will offer ______________________________________ Goals Objectives 1. 1. 2. 2. 3. 3. 21  What I Have Learned ACTIVITY: CASE OVERVIEW - YELLOW CAB PIZZA COMPANY (Zarate, Principles of Marketing , 2017) Often mistaken as an international brand, Yellow Cab Pizza Co., is a local fast-food chain that offers New York-style pizzas. The name Yellow Cab came from the colors yellow and black, which are common colors of taxicabs. Albert Tan, Eric Puno, and Henry Lee founded the pizza company in 2001 and it is now owned by Max’s Group. It currently has 130 stores nationwide. Each store features an open kitchen, exposed pipes, graffiti, and concrete walls that capture the New York vibe. The company’s vision is customer engagement, and its goal is customer loyalty. Achieving this goal is a concerted effort. The company creates products that embody innovation and value for money and employees are trained to be customer-oriented and improve food, service, and cleanliness daily. This ensures that customers keep coming back and that more will follow. Instructions: Answer discussion questions below and please do not forget to write the following in your answer sheet: Name: _____________________________________ Year and Section: __________________ Subject: _______________________ Quarter No. ____________ Module No. ___________ Name of the Activity Lesson 2: What I Have Learned Date: _________________ 1. Identify Yellow Cab’s goals and objectives. 2. If given the task to become the Manager of a branch of Yellow Cab, how would you ensure the goals and objectives are carried out? Do you think that the goal of keeping loyal customers is enough to sustain the business, considering that it has many competitors? Why or why not? What I can Do ACTIVITY: ROLE PLAY (Individual or by pair) Instructions: Play the role of a marketer. Choose one from the four (4) roles. Since you are at home, submit a written script or a video portraying your role as a marketer. Create a situation on how you will conduct yourself as a marketer given the role that you have chosen. Be creative and assertive and enjoy! 22  Assessment Finally, you are almost done with Module 1 ABM students! By this time, you should be enriched, and at the same time excited to finish your module, so here is a graded test. MULTIPLE CHOICE. Read and analyze each item carefully. Write the letter only and please do not forget to write the following in your answer sheet: Name: _____________________________________ Year and Section: __________________ Subject: _______________________ Quarter No. ____________ Module No. ___________ Name of the Activity Assessment Date: _________________ 1. Which of the following are human wants that are backed by buying power? A. Needs B. Wants C. Demands D. Satisfaction 2. When a marketer comes up with creative ways to change the status quo and gain an advantage over the competition, he plays the role of a? A. Innovator B. Implementer C. Instigator D. Integrator 3. Which of the following is the process of continuously and profitably satisfying target customer’s needs, wants, and expectations superior to competition? A. Branding B. Marketing C. Pricing D. Relationship marketing 4. Which of the following is NOT part of the marketing activities in the marketing process? A. Creating B. Distributing C. Branding D. Pricing 5. Mr. Teng acquires lots of goods for direct use and stores it in his stockroom. He does not intend to resell it to others. Mr. Teng is a _______? A. Competitor B. Consumer C. Customer D. Marketer 6. Which of the following is the marketing element that aims to capture the attention of the customers? A. Place B. Price C. Product D. Promotion 7. Who among the following is responsible for identifying the goods and services needed or wanted by customers and markets them? A. Consumer B. Innovator C. Instigator D. Marketer 8. Which of the following is a symbol, logo, words, or a combination of these elements that a company uses to distinguish its products or services from others? A. Product C. Brand B. Unique selling proposition D. Promotion 9. Which does NOT belong as a core concept of Marketing? A. Needs, Wants, Demands C. Exchange, Transaction, Relationship B. Value, Satisfaction, Quality D. Lead Volume, Sales Lead, Branding 23 10. When a Marketer helps facilitate the entire production and selling process, he plays the role of a? A. Instigator B. Innovator C. Integrator D. Implementer 11. When a Marketer communicates customer insights to the different departments of the company, he becomes a? A. Instigator B. Innovator C. Integrator D. Implementer 12. When a Marketer is tasked with analyzing the current market trends to guide the actions of the company, he plays the role of a? A. Instigator B. Innovator C. Integrator D. Implementer 13. Which of the following is closely related to satisfaction? A. Demands B. Needs C. Quality D. Value 14. When a Marketer oversees the product to be manufactured by contributing to the designing process, he becomes a? A. Instigator B. Innovator C. Integrator D. Implementer 15. Which of the following is NOT true to the Principles of Marketing? A. Companies create value for customers and build strong relationships to capture value from customers in return. B. Marketing concerns itself with the tricks and techniques of getting people to exchange their cash for products. C. Marketing involves creating the right product, offering it at the right price, making it available to consumers at the right place, and communicating it to them at the right promotion. D. Marketing is delivering customer satisfaction at a profit by (1) attracting new customers by promising superior value, and (2) keeping current customers by delivering satisfaction. Additional Activities Congratulations ABM Students! One final step and you are done. Here it is… Instruction: Create your dream company’s tagline. (Taglines are brief and catchy statements that convey the personality and benefits of the products to consumers). Below are sample taglines from known companies for your reference. Banco de Oro (BDO) - “We find ways” Metropolitan Bank and Trust Company (Metrobank) - “You’re in Good Hands” Gaisano Grand Malls - “Everyday is a savings day” 24  Answer Key 6. E 5. B Lesson 1 4. D 10. Place 3. A Place 6. Place 9. Promotion 3. 2. F Product 5. Price 8. Price 2. 1. C Promotion 4. Promotion 7. Promotion 1. Activity 1 What’s More (Activity 2) What Can I Do References Book References Go, J., & Go, C. E. (2017). Principles and Practices in Marketing in the Philippine Setting. Quezon City: Josiah and Carolina Go Foundation, Inc. Kotler, P., & Armstrong, G. (2001). Principles of Marketing. Prentice Hall. So, R. C., Torres, O. G., & De Guzman, A. A. (2016). Principles of Marketing. Quezon City: Vibal Group Inc. Te, D. M., Marte, R. B., & Abrina, D. M. (2018). Principles of Marketing for Senior High School. Quezon City: C & E Publishing, Inc. Zarate, C. A. (2014). Principles of Marketing. Quezon City: C&E Publishing, Inc. Zarate, C. A. (2017). Principles of Marketing. Quezon City: C & E Publishing, Inc. Figures Figure 1- Julie’s Bakeshop, Date Accessed 8/19/20, https://www.juliesbakeshop.com.ph/ Figure 2-Activity 1: School Kits, Date Accessed 8/19/20, https://schoolkits.ng/must-have-school-stationary-supplies-for-kids/ Figure 3- The #1 Thing Grocery Stores Don't Want You to Do, Date Accessed 8/19/20, https://www.eatthis.com/grocery-stores-dont-want-you-to-do/ Figure 4-Abraham Maslow’s Hierarchy of needs, Date Accessed 8/19/20, https://www.simplypsychology.org/maslow.html Figure 5-The Marketing Process, (So, Torres, & De Guzman, 2016)) Websites Pinoy Success Story: Julies Bakeshop, Date Accessed 8/19/20, https://www.philstar.com/business/2013/08/31/1153291/pinoy- success-story Principles of Marketing, 9th Edition (Kotler and Armstrong), Date Accessed 8/19/20,https://www.academia.edu/40693667/Kotler_Principles_of_Mar keting_9th_Edition What’s More Activity 2, No. 4 & 9, Best TV ads, Date Accessed 8/19/20, https://www.bestadsontv.com/news/index.php?reg=23 25