Principles of Marketing

Unit 1: Marketing Overview

Prepared by: Lea B. Fortaliza

Objectives:
Internalized the concept of marketing.

Analyzed the process of marketing.

Identified the elements of the marketing plan.

What word that comes
into your mind when
hear the word
marketing?
Activity: TRUE OR FALSE
_________1. Marketing is only about advertising and promotion.
_________2. Branding is primarily focused on creating a
company logo.
_________3. Target audience refers to the specific portion of the
population a company wants to reach.
_________4. SWOT analysis stands for Strengths, Weaknesses,
Opportunities, and Threats, and is a common marketing planning
tool.
_________5. Inbound marketing focuses on attracting and
engaging customers through content creation, social media, and
other forms of non-intrusive communication.
Activity: TRUE OR FALSE
_________6. A market segment is a group of people who
share the same age and gender.
_________7. Customer relationship management (CRM) is
only relevant for large corporations, not small businesses.
_________8. Guerrilla marketing relies on traditional
advertising channels for promotion.
_________9. Viral marketing always involves the use of social
media platforms.
_________10. A call-to-action (CTA) is a marketing element
that encourages the audience to take a specific action, such as
making a purchase.
Activity: TRUE OR FALSE
1.FALSE 6.FALSE
2.FALSE 7.FALSE
3.TRUE 8.FALSE
4.TRUE 9.FALSE
5.TRUE 10.TRUE
Definitions of Marketing

• According to American Marketing

Association (AMA), 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
Definitions of Marketing
• In 2012, Dr. Philip Kotler defined marketing
as, “The science and art of exploring, creating
and delivering value to satisfy the needs of
target market at a profit.”
• Dr. Philip Kotler – known for popularizing the
definition of Marketing Mix (set of
controllable variables that the firm can use to
influence the buyer’s response)
Definitions of Marketing
•Dr. Kotler’s introduced what is
commonly known as the 4p’s of
marketing: product, price, place
and promotion
Concept of Marketing
- According to Cynthia A. Zarate, marketing
connotes the creation of what is valuable to a
customer in the form of good and services
- Continuously satisfying the customers’ needs
and wants at a profit
 Famous personalities/authors in
field of Marketing
Philip Kotler:
• Often referred to as the "Father of Marketing," Philip
Kotler is a renowned marketing author and professor.
• He has written numerous influential books on
marketing, including "Marketing Management," which
is widely used in business schools around the world.
 Famous personalities/authors in
field of Marketing
Seth Godin:
• A bestselling author and entrepreneur, Seth Godin is
known for his innovative ideas in marketing and
leadership.
• His book "Permission Marketing" introduced the
concept of getting the consumer's consent before
sending them promotional messages.
 Famous personalities/authors in
field of Marketing
David Ogilvy:
• Often called the "Father of Advertising," David Ogilvy
was a pioneer in the advertising industry.
• His book "Confessions of an Advertising Man" is
considered a classic in the field, and he founded the
advertising agency Ogilvy & Mather.
 Famous personalities/authors in
field of Marketing
Guy Kawasaki:
• A marketing specialist, author, and former chief
evangelist for Apple, Guy Kawasaki is known for his
work in technology marketing.
• His book "The Art of the Start" provides insights into
entrepreneurship and startup marketing.
 Famous personalities/authors in
field of Marketing
Malcolm Gladwell:
• A prolific writer, is known for his bestselling
books such as "The Tipping Point" and
"Outliers."
• His work often explores the psychological and
sociological factors that influence marketing and
business success.
 Famous personalities/authors in
field of Marketing
Ann Handley:
• A digital marketing pioneer, Ann Handley is the author
of "Everybody Writes" and co-author of "Content
Rules."
• She is known for her insights into content marketing
and writing for the online audience.
 Famous personalities/authors in
field of Marketing
Gary Vaynerchuk:
• An entrepreneur, author, and internet personality, Gary
Vaynerchuk is known for his expertise in social media
marketing.
• His books, such as "Crush It!" and "Jab, Jab, Jab, Right Hook,"
provide insights into leveraging social platforms for business
success.
 C U S T O M E R

Marketing Market Product Distribution

Process Segmentation Development Channels
Marketing Plan Target Market New Product Promotion
Development

Consumer Marketing Mix Service New Trends

Behavior Marketing Marketing Philippine
Business Buying Objectives Pricing Market
Behavior

Figure 1. Schematic Diagram of Principles of Marketing

Source: Principle of Marketing, Cynthia A. Zarate
 CREATION AND PRICING
PRODUCTION
Product/ Service
CUSTOMER
DISTRIBUTION AND
PROMOTION AND SALES DELIVERY

Figure 2: Core of Marketing Portfolio

Source: Principle of Marketing, Cynthia A. Zarate
 Figure 3. Marketing Process
Source: Principle of Marketing, Cynthia A. Zarate

Implement the
Classify and Develop
Identify market planned
define target marketing mix
opportunities marketing
markets efforts
efforts

• To find out the • Analysis of • Develop • Translate those

unfulfilled consumers strategies that strategies into
needs and • Market would elicit action plans
wants of segmentation positive • Before
consumer response for implementatio
• Scanning both the product n an extensive
internal and from target market analysis
external market is needed
environment • Marketing mix (marketing
(SWOT efforts include: plan)
analysis) product, price,
placement,
promotion and
people
 Figure 4. Elements of Marketing Plan
Source: Principle of Marketing, Cynthia A. Zarate

Exe
cuti • A rundown of programs and recommendations particular to a
ve product/service under study
Sum
mar
y
Prese • An account of the firm’s present standing in the market and current or potential competitors
nt • It identifies what the other competitors’ product are offering and what the firm’s product
Mark intends to offer to be competitive in the market
et
Situat
ion

SW • It includes the company’s Strength, Weaknesses, Opportunities

OT and Threats.
Ana
lysis
Mar
ketin • They should be SMART (Specific, Measurable, Attainable, Realistic and
g Time-bound)
Obje
ctive
s
 Figure 4. Elements of Marketing Plan
Source: Principle of Marketing, Cynthia A. Zarate

Mark
• These strategies are based on the marketing mix: product, price,
eting promotion, placement and people
Strat
egies

• Plans for marketing mix

Mark
eting • Details on the action plans budgetary allocation and calendar of events
Progr
ams

• Financial aspects which include the following: sales forecasts for a

specific period of time, costs projections, income statements, balance
Bud sheets and cash flow statements
get

• Mechanisms that evaluate the marketing plan and the firm’s current performance
Con • They provide measures to be undertaken when certain strategies or programs of
trol the marketing plan do not work as expected.
s