Mickaella Jean A.
Causing
BAB1-A
BR203
David Arthur M. Quimpo
1. Find three (3) comprehensive definitions of marketing. Which definition
best explains your understanding of the term? Discuss.
a. Marketing 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.
b. Dr. Philip Kotler defines marketing as “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. It pinpoints which segments the company is capable of
serving best and it designs and promotes the appropriate products and services.”
c. Marketing is traditionally the means by which an organization communicates to,
connects with, and engages its target audience to convey the value of and ultimately sell its
products and services. However, since the emergence of digital media, in particular social
media and technology innovations, it has increasingly become more about companies
building deeper, more meaningful and lasting relationships with the people that they want
to buy their products and services. The ever-increasingly fragmented world of media
complicates marketers’ ability connect and, at the same, time presents incredible
opportunity to forge new territory.
Among the three definitions of marketing that I found, I believe that 3rd definition best
explains my understanding of the term because it is very detailed and shows the situation
of our reality today.
2. People often confuse sales with marketing. What is the difference between
the two? Explain. (do not just define)
The difference between sales and marketing is that sales focus on working directly with
prospects to get them to convert, while marketing focuses on sparking interest in your
products. Essentially, marketing is the first step to getting leads interested, while sales take
that interest and nurture it.
In the marketing process you define basic details such as who you are, what you sell, and
how much it costs. You create your brand, show off what you have to give, and explain how
you can solve their problems and alleviate their pain points.
During the sales process, you can concentrate on taking the knowledge your audience
already has and adding to it, as well as answering any questions they might have. You
concentrate on offering compelling selling points, tailored ideas, and convincing pitches in
order to persuade leads to convert.
3. What does a marketing team do? If you were to become a part of a
marketing team, what role would you want to play? Why?
The Marketing Department is responsible for promoting an organization's company and
mission. It acts as the public face of your business, organizing and creating all marketing
materials. The Marketing Department's role is to connect with prospects, clients, investors,
and/or the general public, all while maintaining a positive image for your business. If I
were to become a part of a marketing team, I would like to play the role of a “Content
Marketer” because I want to create content like blog posts, videos, social media posts, etc.
that the audience will want to engage with. Presumably content marketing is one of the
most low-cost and highly effective strategies to building brand awareness, building trust
with consumers, improving your organic search and generating leads for your business.
4. Find at least three (3) principles of marketing and discuss each principle
briefly.
a. PRODUCT
- Decisions within this element include a product or service’s purpose, how a product looks,
packaging, any warranties, and more. Additionally, you need to think deeply about
consumers. Consumers need to know what is included, what they can get out of it, what
need or want it fulfills, and why your product or service is better than the competition.
b. PRICE
-Price encompasses the entire pricing methodology for products or services, and how
customers will react to it. Furthermore, this segment goes into depths beyond selling
prices. Price includes discounts, terms, fees, and so on. When arranging pricing, you should
consider your business’ current position among other competitors. If you advertise as
having a very high-quality product, your pricing should reflect that claim.
C . PEOPLE
- People are not just those who you are selling and advertising to. It includes staff,
salespeople, customer service teams, and anyone involved in the marketing and sales
processes. You want your employees to be effective and perceived positively by customers.
[Link]
[Link]
Julie Barile – Vice President of eCommerce, Fairway Market
[Link]
