MARKETING

- creation and communication of value to customer

NEEDS
- the consumer's desire for a product or service
- basic needs are food, clothing, and shelter

WANTS
-higher-level needs as they appeal more to the emotions

KEY PERFORMANCE INDICATORS ( KPIs)

- known as performance drivers or critical success factors
- specific metrics which are used to track performance to make sure the firm is on track to meet
specific objectives

7 P's
• People
• Physical evidence
• Process
• Promotions
• Product
• Price
• Place

TRADITIONAL MARKETING
- ( company-focused )
- umbrella term that covers the wide array of advertising channels we see daily

CONTEMPORARY MARKETING
- ( consumer - focused )
- marketing strategies that are consumer focused

PROMOTIONAL TOOLS
- these are the tools used to promote products snd services

ADVERTISING
- means to turn the people's attention to a specific thing

PROMOTION
- keep the product in the mind of the customer and helps stimulate demand for the product

PRINT ADVERTISING
- oldest media
- printed on some type of paper
- can be seen in magazines and newspaper

PR PROCESS
• Research
• Action
• Communication
• Evaluation

TELEMARKETING
- the use of telephone and call centers to attract prospects, sell to existing customers and
provide service by taking orders and answering questions.

RELATIONSHIP MARKETING
- involves creating, maintaining and enhancing strong relationship with customers and other
stakeholders

LEVELS OF RELATIONSHIP
• Basic - sells product without follow up.
• Reactive - sells the product and tell the customer to call
• Accountable - calls the customer after selling/transaction
• Proactive - from time to time call for suggestions or promotion
• Partnership - the company works continuously with the customer

BENEFITS OF RELATIONSHIP MARKETING

• Understanding Customer Characteristics
• Delivery and Meeting Expectations
• Repeat Business
• Prevent Negative Transition
• Word-of-Mouth Marketing
• Reduced Marketing cost
• Identification with the company
• Product Market Expansion

DELIVERY AND MEETING EXPECTATIONS

- if the company knows what its customers' needs are, it will help reduce wastage due to trial
and error methods.

PRODUCT MARKET EXPANSION

- the company's employees must be ready to deliver beyond the company's boundaries on
customer demand.

REPEAT BUSINESS
- sellers should maintain good attitude to the buyers.
PREVENT NEGATIVE TRANSITION
- trust and loyalty go hand in hand and it is super beneficial for all business.

CUSTOMER VALUE
- the satisfaction derived from what customer may experience

TYPES OF CUSTOMER
• Stranger - does not included in your target market
• Butterflies - not loyal to a specific brand but buy
• True Friends - buys repeatedly
• Freeloaders - loyal but not profitable

STRATEGIC MARKETING
- the general plan of action with the company vision

TACTICAL MARKETING
- the action a company undertake in order to execute an organizational strategy.

PRODUCT DEVELOPMENT
- involves the improvement of current products or services

DIFFERENTIATION
- seek to achieve superior product attributes

HORIZONTAL INTEGRATION
- involves purchase of or increased control over competition

RETRENCHMENT
- involves halting or reversing declining sales and profit through cost

UNRELATED RELATION
- involves introducing new but unrelated products or services

MARKET DEVELOPMENT
- involves the introduction of existing products pr services into a new geographical area

MARKETING ENVIRONMENT
- Macro-environment
- Micro-environment

DEMARKETING
- reducing consumer demand for a good or service to a level that the firm can supply

INTERNET
- as a booking engine has created many opportunities, but it has also made interaction with
intermediaries more complex

SUPPLIERS
- These are firm/business houses and individual who provide resources needed by the
company to produced goods or services

CULTURAL FORCES
- includes institution and other forces that affect society's basic values, perceptions,
preferences, and behaviors

MACRO-ENVIRONMENT
- consist of larger societal factors that affect the entire microenvironment

BUYING BEHAVIOR
- Consumer Buying Behavior
- Business Buying Behavior

MAJORS FACTORS
- Cultural Factors - is a person's nationality, their associations, religious beliefs and their
location
- Social Factors - elements in a person's environment that impact the way they see products
- Personal Factors - This may include someone's age, marital status, budget, personal beliefs
values and morals
- Psychological Factors - a person's state of mind when they are approached with a product will
often determine how they feel not only about the item itself but the brand as a whole

BUSINESS BEHAVIOR
- businesses by these things either to manufacture goods or to resell them to other businesses
or customers

TYPES OF BUYER
- The Analytical Buyer - motivated by logic and information
- The Amiable Buyer - warm and friendly
- The Driver Buyer - trendsetters
- The Expressive Buyer - relationships are key to this type of buyer

MARKET SEGMENTATION
- is the process of dividing a target market into smaller, more defined categories

NICHE MARKETING
- the process the identifying segments of industries and verticals that have a large audience that
can be served in new ways
TYPES OF MARKET SEGMENTATION
- Demographic Segmentation - refers to statistical data about a group of people
- Psychographic Segmentation - categorizes audiences and customers by factors that relate to
their personalities and characteristics
- Behavioral Segmentation - how the customer acts
- Geographic Segmentation - categorizes customers based on geographic borders

HOW TO CREATE MARKET SEGMENTATION STRATEGY

1. Analyzed your existing customers
2. Create a buyer persona for your ideal customer
3. Identify market segment opportunities
4. Research your potential segment
5. Test and iterate

PART II

CORE MARKETING CONCEPT

STRATEGIC MARKETING PROCESS

TACTICAL MARKETING
MARKETING ENVIRONMENT

MICRO-ENVIRONMENT

MACRO-ENVIRONMENT