CM1.1_MARKMAN_1st TERM AY 2024-2025.pdf

What is Marketing? Course Material (CM1.1) Face-to-Face and Synchronous Online 1st Term, AY 2024-2025 MG Matibag Lesson Outline 1.What is Marketing? 2.Marketing Concepts What is Marketing? What is Marketing? MARKETING is the process of continuousl...

What is Marketing? Course Material (CM1.1) Face-to-Face and Synchronous Online 1st Term, AY 2024-2025 MG Matibag Lesson Outline 1.What is Marketing? 2.Marketing Concepts What is Marketing? What is Marketing? MARKETING is the process of continuously and profitably satisfying target customer’s needs, wants, and expectations superior to competition.  What is Marketing? Marketing is the process of Continuously refers to continuously and maintaining a profitably satisfying target relationship, i.e., customer’s pursuing high repeat needs, wants, purchase levels and and expectations superior to not just one-time competition. transactions.  What is Marketing? Marketing is the Profitably means having a process of revenue model that continuously and profitably allows the company to satisfying target capture the economic customer’s value of what it offers, as needs, wants, and expectations seen in the level of cash superior to flow earned to finance competition. operations.  What is Marketing? Marketing is the Satisfying is about process of continuously and identifying and profitably understanding what drives satisfying target the customers to buy or customer’s not to buy and creating a needs, wants, plan to ensure customers and expectations are happy and not superior to remorseful about their competition. purchase and usage.  What is Marketing? Marketing is the Target Customer pertains process of continuously and to a particular customer profitably or group chosen, as satisfying target those who can best customer’s needs, wants, benefit from the and expectations purchase and usage of superior to the company’s products competition. and services.  What is Marketing? Marketing is the Needs, wants, and process of expectations refer to the continuously and minimum as well as profitably determining the dimensions of satisfying target a purchase (or what the target customer’s market is looking for in a product or service); these needs, wants, dimensions are used to and expectations communicate, persuade, and superior to influence the target market’s competition. purchase behavior.  What is Marketing? Marketing is the Superior to Competition means process of not just making customers happy continuously and but preparing an offering in such a profitably way the customer will choose a satisfying target company over its competition. customer’s Being better than competition considers other customers’ needs, wants, barriers to purchase such as a and expectations customer indifference, doubt, superior to procrastination and similar competition. attitudes. Marketing Concepts 1. The two interacting components of company and market. 2. The two interacting components of a market. 3. The Strategic 3Cs of Marketing 4. The Input and Output of Marketing : sales, market share, profit 5. The Marketing Philosophy of being better than before, better than others, better than expected.  Marketing Concepts Figure 1. The Two interacting Components of Marketing COMPANY MARKET  Marketing Concepts Figure 2. The Two interacting Components of Marketing CUSTOMERS COMPETITION  Marketing Concepts Figure 3. The Strategic 3Cs of Marketing COMPANY CUSTOMERS COMPETITION Source: Waters Philippines | Purfied, Mineral and Alkaline Water Purifier  Marketing Concepts Table 1. Key Objectives of the 3Cs of Marketing 3Cs Key Objectives Example Waters BIO Mineral Pot Customers To satisfy customers. (www. Waters.com.ph) To offer a superior 3-in-1 purified, alkaline, mineral drinking water system. Delicious-tasting water, alkaline (vs. acidity), Competition To outperform one-time purchase only, and about 25% cheaper per liter than those purchased for a competition. lifetime in water refill stations. To earn from two sources of profit: from Company To ensure corporate sales of products and interest income from offering in-house installment plans to health and profit. qualified availers.  Marketing Concepts Figure 4. Input and Output of Marketing SALES CUSTOMERS PROFIT MARKET SHARES COMPANY COMPETITION Marketing Concepts Better than Before Figure 5. Standard for SALES Judging Marketing Effectiveness CUSTOMERS tter than Expected etter than Others Be B PROFIT MARKET SHARES COMPANY COMPETITION Reference J.Go, C.E.Go, RG Gabunada (2024). Marketing for Beginners. Josiah and Carolina Go Foundation, Inc. Other Resources ▪Various photo stock from https://www.freepik.com/; https://www.pexels.com/ Disclaimer The purpose of this course material is for academic use. The contents of this material have been gathered from various authors, other materials, and/or references. This material should not be shared, posted, uploaded, and/or published in any form, be it mechanically or digitally and other than those forms.