Principles Of Marketing PDF

PRINCIPLES OF MARKETING Mr. Arnold E. Guevarra  PRINCIPLES STRATEGIES MARKETING APPROACHES. RELATIONSHIP IN ECONOMICS AND. MANAGEMENT  The Goals of Marketing and their Social Effects 1. Maximize the Consumption of...

PRINCIPLES OF MARKETING Mr. Arnold E. Guevarra  PRINCIPLES STRATEGIES MARKETING APPROACHES. RELATIONSHIP IN ECONOMICS AND. MANAGEMENT  The Goals of Marketing and their Social Effects 1. Maximize the Consumption of Goods - The Aggressive marketing strategies and policies had increased the consumption of goods and services. The demand of the market is tremendous. Sellers face many challenges on what products to offer. Buyers want quality products at reasonable price and at the most 2. Maximize Consumer convenient location.Satisfaction - The market demand is varied, and customer satisfaction is the challenge of the marketing organization. Measurement of customer satisfaction is difficult. It embraces careful analysis of the market demand which varies with the time and the. The Goals of Marketing and their Social 3. Maximize Effects Choice of Goods or Service - Some marketers believe that the goal of. marketing is to maximize the variety of the product in the market and provide consumers a wide assortment of choices. The main objective is for customers to find the goods that willsatisfy their biological 4. Maximize needs as well of the Quality as Life their emotional and social wants. - The improvement of the quality of life is the target of marketing people. New hand phones are created to communicate with various sectors of society, friends and families. Easy communications access satisfies not only social needs but also business requirements. Computers and others. GOALS ARE DIFFERENT FROM OBJECTIVES.. GOALS OBJECTIVE top-level broad goals to Specific SMART G MARKETIN show objectives to how the business can give clear direction and benefit commercial from channels. So, goals targets.Objectives are are the the SMART targets for broad aims used to shape marketing which can be strategy. They describe how used to track marketing will contribute to performance against the target. The SMART business in key areas of mnemonic helps as a growing sales, test or filter which the communicating firm can use to assess with audience and saving thequality of measures money. KEY PERFORMANCE. INDICATORS 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. Examples of noteworthy marketing goals:. 1. Identifying the target market 2. Increasing sales and profits 3. Increasing brand awareness 4. Increasing market share 5. Countering competitive strategies 6. Reputation 7. Increasing distribution channels. What is Traditional Marketing?. Traditional marketing is an umbrella term that covers the wide array of advertising channels we see daily. These may include print media, billboard and TV advertising, flyer and poster campaigns and radio broadcast advertising.  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. 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. Several Distinct Traditional Approaches:. 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.. Traditional Marketing Theories. 1. Ansoff's Matrix Theory a theory that proposes products/services fall into one of four categories depending on the market and the product released. New Product- New Market is considered as diversification. This theory recommends that businesses should try to diversify their product portfolio to spread risk amongst their product range.. 1. Market Penetration- The concept of increasing sale of existing products into an existing market. 2. Market Development- Focuses on selling existing products into new market. 3. Product Development - Focuses on introducing new products to an existing market. 4. Diversification - The concept of entering a new market with altogether new product..2. The Marketing Mix - Another marketing theory that's considered to be traditional is the marketing mix. made up of the 7 P's. These include product, place, promotion, price, packaging and positioning. All these components, when combined, create a solid marketing proposal. However, this theory as well as Ansoff's, can be drastically improved with the use of contemporary marketing strategies. CONTEMPORARY MARKETING. Contemporary marketing refers to marketing strategies that are consumer focused. Contemporary marketing strategy offers products and services based on what the target market desires rather than what the company wants them to have, thereby, offering greater support for their customers and becoming able to take advantage of more advanced marketing funnels to track progress. DIFFERENCE BETWEEN CONTEMPORARY MARKETING ORIENTATION AND TRADITIONAL MARKETING ORIENTATION. The main difference between the contemporary marketing orientation and traditional marketing orientation is that while the former is consumer- focused, the latter is company-focused. Traditional marketing is concerned with pulling customers and does not really consider the customer's diverse needs. Rather it is concerned with the market or industry in which the company operates in.. Contemporary Marketing Here are some of types of marketing: 1. Business to Business - B2B Marketing. 2. Business to Consumer - B2C Marketing 3. Brand Marketing 4. Cloud Marketing 5. Telemarketing 6. Guerrilla Marketing 7. Push Marketing 8. Influencer Marketing. Emerging Types of Marketing and their Applications: 1. Search engine optimization is majorly. concerned with increasing a business’ visibility and rankings on search engine result pages. It is a simple way of attracting organic traffic of potential customers to a website. SEO can be maximized with paid adverts (Google AdWords), strategic content marketing and social media networks. 2. Pay per Click advertising: This is advertising presented on search engine result pages or web pages where the advertiser is only charged based on the number of times someone clicks on the ads to go to the advertiser's targeted website.  Emerging Types of Marketing and their. Applications: 3. Email marketing is a type of marketing based on the distribution of messages through emails. Email marketing provides direct contact with customers and allows businesses to create relationships with their customers. Updates, exciting news, and call to actions can be sent directly to customers. 4. Referral marketing: is a type of marketing where an individual or customer pleased with the results gotten from a product refers the product to another person. It's a very subtle form of marketing that can provide great results especially when the person referring is an Influencer in that industry. 5. Affiliate marketing: is a prominent type of internet marketing where a third party promotes a product and earns commission, or a piece of the profit gotten from every sale made through that referral.. Emerging Types of Marketing and their Applications: 6. Video marketing: Videos act as one of the most interactive types of online marketing and can prove to. be a great way to raise awareness about a business or product. In fact, according to Mushroom networks, YouTube is the second biggest search engine. Therefore, video marketing can prove to be a great way to pass messages to target 7. Inbound marketing is a very powerful contemporary customers. marketing strategy that focuses on different tactics to draw consumers in and convince them to buy goods. It is one the result-oriented types of marketing that uses content to drive results. A key subset of Inbound marketing is Content marketing which the Content Marketing Institute refers to as "a strategic marketing approach focused on creating and distributing valuable, relevant, and.productsMARKETING GREEN - refers to the process of selling and/or services based on their environmental benefits. For green marketing to be effective, there are three things that needs to be done: 1. Being genuine a. The company is doing what it claims to be doing in its green marketing campaign and; b. The rest of the business policies are consistent with whatever the firm is doing that’s environmentally friendly. 2. Educating the customers isn’t just a matter of letting people know that the company is doing whatever it doing to protect the environment, but also a matter of letting them know why it matters. 3. Giving customers an opportunity to participate means