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Business Marketing Activity

The document discusses marketing concepts including the definition of marketing, differentiating between market/marketer, marketplace/marketspace, needs/wants, and brand/generic competition. It also defines exchange in marketing as a mutual benefit where value is swapped, and discusses the marketing mix and its four main components - product, price, place, and promotion.

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Moh'd Aiman Macapodi
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21 views

Business Marketing Activity

The document discusses marketing concepts including the definition of marketing, differentiating between market/marketer, marketplace/marketspace, needs/wants, and brand/generic competition. It also defines exchange in marketing as a mutual benefit where value is swapped, and discusses the marketing mix and its four main components - product, price, place, and promotion.

Uploaded by

Moh'd Aiman Macapodi
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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BUSINESS MARKETING

Name: Macapodi, Moh’d Aiman M. Section: ABM 12-2 Score:


Format: Long, Arial Narrow, 12 font size, 1-inch margin on all sides, submit in a pdf
format.
Instruction. Answer the questions enumerated below. Write your answer in the space
provided.
1. Cite one definition of marketing. Discuss it in your own words (5 pts.)
Marketing refers to all activities a company does to promote and sell products or
services to consumers. Marketing is like a storyteller who weaves captivating narratives
about products and services. It’s the art of presenting, advertising, and selling the
company's offerings in the most convincing way possible. It is like a vibrant marketplace
where vendors are skillful in displaying their products, attracting people by offering them
joy, ease, or change. Marketing is all about showing people how great things can make
their lives better.

2. Differentiate the following concepts (5pts/each):


a) Market and Marketer

A market is a marketplace where people gather to exchange goods and


services. It’s like in a town, where buyers and sellers meet face-to-face or
physically. In this place, prices are determined by the supply and demand. While
in Marketer, it is like a friendly guide who navigates this certain type of
marketplace. They’re like the public speaker who spread the word about the
latest offerings and updates about the market. Their job is to understand what
people, need, create value, and make sure the right goods find their way into
eager hands. The marketer bridges the gap between customers and the
treasures they seek.

b) Marketplace and Marketspace


Depending on where you are, a marketplace might be called a bazaar or
“palengke”. A marketplace is an economic system or market, or simply a place
where things get bought and sold. On the other hand, A marketspace is an
online retailer that allows third parties to offer their merchandise. For example,
Shopee is a popular marketspace where it warehouses its products. Shopee is a
marketspace where it allows thousands, if not millions, of third parties that sell
merchandise.

c) Needs and Wants


Needs refer to the fundamental requirements essential for human survival
and well-being. These are universal and include necessities like food, water,
shelter, and safety. Needs form the foundation upon which our existence rests,
connecting us all in our pursuit of basic sustenance and security. Wants, on the
other hand, are desires beyond what is necessary. They include the preferences
and ambitions that extend beyond mere survival. Wants are influenced by
culture, personal taste, and individual experiences. Wants don't follow a strict
structure like needs do; instead, they coexist and compete for attention.
d) Brand Competition and Generic Competition
Brand competition happens when companies selling similar things
compete against each other using different brand names. They do this by using
special marketing tactics, making their brand stand out, and trying to make
customers stick with their brand. For example, think about Coke and Pepsi—they
both sell soda, but they try to make you choose one over the other by building a
strong brand identity. While in Generic Competition, when products or services
are almost the same, with little to no difference between them. In this case, the
main thing that affects people's choices is usually the price. Companies compete
by offering their product at a lower price than their competitors. An example could
be generic pain relievers—they all have the same ingredients, so people often
choose the cheapest one.

3. What is exchange in marketing? When can it exist? Cite and discuss the conditions
of a valid exchange. (10 pts.)
Exchange in marketing is essentially a human interaction, a system of mutual
benefit where individuals or entities swap something of value with each other. It is like a
friendly trade where people or companies swap things, they find useful. It's not just
about buying and selling; it's about helping each other out. This swap happens when
two groups see value in what the other has, like products, services, or even thoughts.
But for this trade to be fair, a few things need to happen. First, there have to be at least
two parties involved, each wanting what the other has. Then, they need to talk and
agree on what they're trading and how. Both sides should willingly agree, without
anyone forcing them. And most importantly, both sides should benefit from the trade,
getting more out of it than they put in. So, in simple terms, marketing exchange is like a
friendly sharing where everyone wins, based on trust and understanding.

4. What is a marketing mix? What are its components? Discuss your answer. (10pts.)
The marketing mix, also known as the 4Ps of marketing, refers to the set of tactics
and variables that a company uses to promote its product or service in the market. The
components of the marketing mix are:
Product: This component refers to the actual product or service being offered to the
target market. It includes aspects such as design, features, quality, branding,
packaging, and warranties.
Price: Price refers to the amount of money customers are willing to pay for the
product or service. Pricing strategies involve decisions about setting the initial price,
discounts, allowances, payment terms, and financing options.
Place: Place refers to the channels through which the product or service is made
available to customers. It involves decisions about distribution channels, such as direct
sales, retail stores, e-commerce platforms, wholesalers, and logistics.
Promotion: Promotion involves the various activities undertaken to communicate
the value of the product or service to the target market and persuade customers to
purchase it. This includes advertising, sales promotions, public relations, personal
selling, and direct marketing.
These four components are interconnected and need to be coordinated effectively to
create a successful marketing strategy. Additionally, the marketing mix has been
extended in some cases to include additional elements such as people, processes, and
physical evidence, particularly in service-oriented industries.

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