Preliminary Flashcards
Control, maintenance, paglabas ng empleyado
Human Resource
What is marketing?
Identification of human needs and wants, satisfying them, at the end of the day, there should be an exchange.
Concept of the office
Function (authority)
Place
No exchange
Pro bono (FREE) performer
Courses in Business and Accountancy
Human Resource Operations Marketing Office Administration Financial/Management/Accountancy
To survive
Needs
Most basic concept underlying marketing
Needs
State of felt deprivation
Need
Sustenance
Water
Food
Medicine
Top three basic needs
Sustanance
Love
Shelter
Can live without one
Wants
Magic word
Satisfy/Supply the DEMAND
Form that a human need takes as shaped by culture and individual personality
Want
Human wants backed up by buying power
Demands
Anything that can be offered to a market to satisfy a need or want.
Product
Not limited to physical objects can include experiences, persons, places, organizations, information and ideas
Product
Activity or benefit offered for sale that is essentially intangible and does not result in the ownership of anything
Service
Marketing Mix
Product
Price
Place
Promotion
What you sell
Marketing Mix
Core/Emphasis
Product
Magic Word for Price
Reasonable and Affordable
Magic word for place
Accessible and Availability
Marketing offers
Product
Service
Combination
More important from the two
Customer Value
Either the money is “tubo” or “lugi”
Customer value
Instrumental in stating and identifying “marketing” as a new business operation were
Ralph Starr Butler
Arch W. Shaw
Goal of marketing
Attract new customers
Marketing as part Functions in Business organization
Finance and accounting
Human resource management
Production and materials management
Marketing
Functions of managers in business organization:
Planning Organizing Staffing Directing Supervising Evaluating
Marketing as Center of Management Functions
Marketing and Production
Marketing and Human Resource
Marketing and Finance
Marketing as Management Function
Products manufactured or supplied to customers must be consistent with customer’s specifications
Marketing and Production
It should only produce products that will satisfy customer’s needs and wants
Marketing and production
A company needs good people to implement strategies
Marketing and Human Resource
Source of competitive advantage
Organization
Four goals of marketing syatem
Maximize Consumption
Maximize Customer Satisfaction
Maximize Choice
Maximize Life Quality
Two interacting components in components:
Company
Market
Market is composed of two other interacting components:
Customers and competition
Stategic 3Cs of Markerting
Customers
Competition
Company
Satisfy the needs, wants, expectations of target customers
Customers
To outperform the competition
Competition
Ensure corporate health and profit
Company
Attained 3cs of marketing
Marketing oriented
Considers all the functions, problems and institutions in getting the right product to the target market
Place
Anything marketed to satisfy a want or a need
Product
Consists of a set of buyers who share common needs or characteristics that the company decides to serve
Target market
Includes advertising, sales, promotions, public relations,
Promotion
Competition, existing practices on markups, discounts, and terms of sale, product appeal, and legal restrictions must be considered
Price
Analysis, planning, implementation, and control of programs designed to create, build, and maintain beneficial exchanges with target buyers for the purpose of achieving organizational objectives
Marketing Management
Traditional approaches to the study of marketing:
Commodity
Institutional
Function
Contemporary/New Approaches to the study of marketing:
Marketing mix Conceptual Systems Managerial Macro-Micro Comparative Marketing Social Marketing
Systems
Marketing intermediaries End-User market Suppliers Company Environment Competitors
Irreconcilable differences between marketing and finances
Wealth Conversion Principle
Marketing started
20th century
Magic word for promotion
Effective
Magic word for Product
Desirable
Sales
Customers
Company
Profit
Competition
Market shared
All have one thing in common
Strongly customer-focused and heavily committed to marketing
Key factor in business success
Marketing
Not only deals with the production and distribution of products and services, but it is also concerned with the ethical and social responsibility function found in domestic and global environment
Marketing function
At the very heart of the modern marketing thinking and practice.
Customer value and satisfaction
Not only telling and selling or selling and advertising but concerned with satisfying customer needs
Marketing
Delivery of customer satisfaction at a profit
Marketing
Particular initiation to money exchange
Customer value
Marketing occurs
Exchange
Concept of marketing
Exchange
Motif
Exchange
Core Marketing Concepts
Needs and Wants Products, Services and experiences Value, satisfaction and quality Exchange, transactions and relations Market
The difference between the values that the customer gains from owning and using a product and the costs of obtaining the product
Customer Value
Customers do not usually judge product values and costs, they act on perceived value
Customer Value
Depends on a product’s perceived performance in delivering value relative to a buyer’s expectations. If performance exceeds expectations, the buyer is delighted: a worthy goal of the marketing company
Customer Satisfaction
It is an approach in which all the company’s people are involved in constantly improving the quality of products, services, and business processes.
TQM
An extension of TQM
ROQ
TQM
ROQ
Total Quality Management
Return on Quality
Major responsibilities in a quality-centered company:
Participate in forming stratwgies
Deliver marketing and production quality
Act of obtaining a desired object from someone by offering something in return
Exchange
Marketing’s unit of measurement
Transaction
Marketer can:
Add financial benefits
Add social benefits
Add structural ties
Seek profitable customers
Set of actual and potential buyers of a product
Market
