BA100 REVIEWER

The Nature, Functions, and 2. Product Development

Importance of Marketing • Design products that match
customer needs.
Introduction • Focus on innovation and quality.
• Marketing is more than just 3. Promotion
selling and advertising. • Communicate product benefits.
• It is a strategic process focused • Includes advertising, PR, and
on creating value, satisfying digital marketing.
customers, and building lasting 4. Sales
relationships. • Build strong customer
• Plays a critical role in business relationships.
growth and competitiveness. • Use strategies like personal
selling & online selling.
NATURE OF MARKETING (Overview) 5. Distribution
• Marketing is a dynamic, • Ensure products reach the
customer-focused, and value- customer efficiently.
driven process. • Includes logistics, retail, and
• It integrates multiple functions to digital channels.
achieve business objectives. 6. Customer Relationship
Management (CRM)
1. Dynamic Process • Build and maintain customer
• Constantly evolving with loyalty.
changing consumer needs. • Enhance customer satisfaction
• Adapts to technological, social, and lifetime value.
and economic shifts.
2. Customer-Centric Importance of Marketing (Overview)
• Focused on understanding and • Drives awareness, growth, and
satisfying customers. competitiveness.
• Involves studying customer
preferences and behaviors. 1. Consumer Awareness
3. Value Creation • Educates customers about
• Delivers benefits and satisfaction products/services.
through products and services. • Helps customers make informed
• Creates value for both business choices.
and customer.
4. Integrated Function 2. Business Growth
• Combines research, advertising, • Boosts sales, market share, and
sales, and service. profits.
• Ensures a cohesive and • Supports expansion and
consistent strategy. sustainability.

Functions of Marketing (Overview) 3. Competitive Advantage

• Marketing covers a wide range of • Highlights unique selling points.
activities that drive growth. • Differentiates from competitors.
• From research to customer
loyalty.
 1. Market Research 4. Brand Building
• Collecting and analyzing data. • Creates brand recognition and
• Understand consumer needs and loyalty.
trends. • Builds trust and reputation.
• Customer Engagement:
Facilitates interaction & repeat 5. Adaptation to Change &
business. Customer Engagement
• Adaptation to Change: Keeps
Conclusion businesses relevant in changing
• Marketing is dynamic, customer- markets.
focused, and essential for
growth. 9. Guerrilla Marketing uses
• Integrates multiple functions to unconventional methods to promote
create value. products in unexpected ways, often with
• Builds strong brands and long- a focus on creativity and low budgets.
term customer relationships.
Goals of Marketing
The Importance, Types, and Goals of
Marketing 1. Increase Sales Drive revenue
through effective strategies that
Types of Marketing attract new customers and retain
1. Traditional Marketing includes print existing ones.
ads, television, radio, and outdoor
advertising. Focuses on broad reach 2. Build Brand Awareness
and mass appeal. Enhance recognition and visibility
of a brand in the marketplace to
2. Digital Marketing encompasses attract more consumers.
online strategies like social media
marketing, email marketing, search 3. Customer Acquisition Attract
engine optimization (SEO), and pay- and convert new customers
per-click (PPC) advertising. through targeted campaigns and
promotions.
3. Content Marketing involves creating
and sharing valuable content (blogs, 4. Customer Retention Foster
videos, infographics) to attract and loyalty by providing excellent
engage a target audience. customer service and ongoing
engagement, encouraging repeat
4. Social Media Marketing utilizes purchases.
platforms like Facebook, Instagram,
Twitter, and LinkedIn to connect with 5. Market Expansion Enter new
customers, promote products, and build markets or demographic
community. segments to grow the customer
base and increase market share.
5. Influencer Marketing collaborates
with influencers to leverage their 6. Enhance Customer Experience
audience and credibility to promote Improve the overall interaction
products or services. customers have with the brand,
from awareness to post-purchase
support.
6. Email Marketing directly
communicates with customers via email 7. Generate Leads Attract potential
to promote products, share updates, customers and collect their
and build relationships. information for future marketing
efforts.
7. Affiliate Marketing involves
partnering with affiliates who promote 8. Educate Consumers Inform
products for a commission on sales customers about product
generated through their referrals. benefits, features, and usage to
help them make informed
8. Experiential Marketing creates decisions.
immersive experiences that engage
customers directly with a brand, 9. Build Relationships Develop
fostering deeper connections. meaningful connections with
customers and communities to
Branding in Marketing enhance brand loyalty and
advocacy.
Branding refers to the process of
creating a unique identity for a product 10. Drive Innovation Use market
or service through elements like name, insights to inform product
logo, design, messaging, and overall development and innovation,
customer experience. ensuring offerings align with
consumer needs.
Effective branding helps differentiate a
product in the marketplace, builds
customer loyalty, and establishes an
emotional connection with consumers.

Marketing Mix  Opportunities: External factors

The Marketing Mix refers to the that could be leveraged for
strategic combination of the 4Ps growth (e.g., market trends,
(Product, Price, Place, Promotion) to
emerging technologies).
effectively market a product or service.
It serves as a framework for businesses  Threats: External challenges that
to align their offerings with customer could pose risks (e.g.,
needs and preferences. competition, economic
downturns).
The 4Ps of Marketing—also known as
the marketing mix—are a foundational Customer Relationship in Marketing
framework that outlines the key
elements of a marketing strategy. They Customer Relationship refers to the
are: ongoing interactions and connections a
company has with its customers. The
Product: Goods/services meeting goal is to build long-term relationships
customer needs (design, features, that foster customer loyalty and
quality, branding). satisfaction. Key aspects include:
Price: Amount paid; strategies include
penetration, skimming, discounts, and  Engagement: Regular
value-based. communication and interaction
Place: Distribution channels (online, with customers through various
stores) for product delivery. channels (e.g., email, social
Promotion: Communicating benefits,
persuading purchase (advertising, PR, media).
sales, social media).  Personalization: Tailoring
experiences and offers based on
SWOT Analysis is a strategic planning customer preferences and
tool used to identify and evaluate the behavior to enhance relevance.
Strengths, Weaknesses, Opportunities,  Feedback: Actively seeking and
and Threats related to a business or responding to customer feedback
project. It provides a structured way to to improve products, services,
assess internal and external factors that and overall experiences.
can impact an organization’s  Loyalty Programs:
performance. Implementing programs that
reward repeat customers,
 Strengths: Internal attributes encouraging continued
that are beneficial to achieving patronage.
objectives (e.g., strong brand,
skilled workforce). Customer Service in Marketing
 Weaknesses: Internal factors
that may hinder progress (e.g., Customer Service encompasses the
limited resources, lack of support and assistance provided to
expertise). customers before, during, and after a
purchase. It plays a crucial role in the
overall customer experience and
includes:
 Education: Providing information  Support: Helping customers with
about products or services to inquiries, issues, or product-
help customers make informed related questions through various
decisions. channels (phone, email, chat).
 Post-Purchase Support:  Problem Resolution:
Offering assistance after the sale, Addressing and resolving
including follow-ups, customer complaints or
troubleshooting, and handling challenges in a timely and
returns or exchanges. effective manner.
LESSON 1: Basics of Economics
Fixed Price System: The Government
1. Economics Defined: It's about sets prices.
managing limited stuff (resources) to Mixed Price System: A combo of both.
meet unlimited wants. Comes from the
Greek "oikonomia" (household LESSON 3: Consumer Behavior &
management). Elasticity
2. Three Big Questions: What to
make? (Gotta pick what society needs 1. Consumer Behavior Models:
most) Black Box: Simple, stimulus-response.
Who gets it? (Distribution – usually Personal Variable: Focuses on
those who can pay) individual factors. Comprehensive:
How to make it? (Cheapest way Complex, many variables.
possible!) 2. Consumer Behavior Theories:
3. Law of Demand: Demand = Price Theory: Prices matter
willingness to buy stuff at certain prices. Rational Behavior: Consumers make
Price goes up, people buy less. Price logical choices.
goes down, people buy more. Tastes & Preference: People buy what
4. Law of Supply: Supply = how willing they like. 3. Elasticity of Demand: How
sellers are to make stuff at certain much demand changes when prices
prices. * Price goes up, sellers make change.
more. Price goes down, sellers make Elastic = big change in demand
less. Inelastic = little change in demand
5. Market Equilibrium: Where buyers 4. Elasticity of Supply: How much
and sellers agree on a price (Qd = Qs). supply changes when prices change.
6. Macro vs. Micro: Elastic = big change in supply
Macro = big picture (national/global Inelastic = little change in supply
economy) Micro = small picture (one
business or household) LESSON 4: Market Structure, Income
7. Circular Flow Model: Shows how & Poverty
money and goods move in an economy.
1. Market Structures
LESSON 2: Production and Costs Monopoly: One seller.
Perfect Competition: Many sellers,
1. Production Process: Turning similar products.
materials into goods/services. Monopolistic Competition: Many
2. Factors of Production: sellers, slightly different products.
Land: Natural resources. Oligopoly: Few sellers.
Labor: Physical/mental work. 2. Distribution & Poverty:
Capital: Machines, equipment. Income Distribution: How income is
Entrepreneur: Puts it all together spread out. Wealth Distribution: How
3. Production Costs: Payments for wealth (assets) is spread out.
factors of production. Income Inequality: Unequal income
TC (Total Cost) = FC (Fixed Cost) + VC distribution.
(Variable Cost)
4. Price Systems: How prices are set. HUMAN RESOURCE MANAGEMENT
Free Price System: Supply and demand
rule. Human Resource Management (HRM):
POSLECON It's all about taking care of a company's
It's a tool to understand what's most important thing, its employees.
happening outside a business. It helps HRM covers everything from hiring to
companies adjust to the world around training, pay, and making sure everyone
them. gets along, so the company can reach
its goals.
Political: Government stuff (laws,
taxes, stability).
Social: People stuff (trends, values, Leading (also referred to as "directing")
lifestyles). is about motivating, communicating
Legal: Rules and regulations. with, and guiding employees to perform
Economic: Money stuff (inflation, their best and align their efforts with the
growth, jobs). organization's goals
Cultural: How local & global cultures
affect business. Activities: Leadership involves
Organizational: Internal factors within communication, motivation, decision-
an organization, such as company making, and conflict resolution. It’s
structure, culture, leadership, and about setting the tone for the
strategies that influence how it interacts organization's culture.
with external forces
Natural: Environment stuff (climate, Controlling (also referred to as
resources). "directing") is about motivating,
TECH(nological): (Optional) New tech communicating with, and guiding
and how it changes things. employees to perform their best and
align their efforts with the organization's
POSLECON goals
Refer to the five functions of
management, which are commonly Activities: Leadership involves
used in management theory. communication, motivation, decision-
making, and conflict resolution. It’s
Function of Management about setting the tone for the
Planning is the process of defining organization's culture.
objectives, identifying the resources
needed, and determining the best WHY ARE THESE FUNCTIONS
course of action to achieve those IMPORTANT?
objectives. Effective Management
POSLECON offers a clear framework
Activities: Setting goals, creating for managers to follow to ensure that
action plans, forecasting potential they cover all the essential areas of
challenges, and establishing priorities. managing an organization.

Organizing involves arranging Coordination and Efficiency

resources (people, finances, materials, It helps ensure resources are used
etc.) in a structured way to achieve the effectively and that the team works
goals outlined in the planning phase toward the same objectives.

Activities: Creating organizational Problem-Solving

structures, allocating resources, The controlling function helps managers
assigning tasks, and establishing identify problems early and take
systems and processes corrective action.

Staffing is the function of hiring,

training, and placing the right people in
the right roles to carry out the
organization’s activities

Activities: Recruiting, selecting,

training, and developing employees.
Ensuring the team has the necessary
skills and experience