POM 1

• Boone and Kurts in Principles of Marketing 2013 define Marketing as an organizational function and set of processes for creating, communicating, and delivering value to customers and for managing costumer relationship in ways it benefits the organizations and its stake holders.
• Marketing Concepts

  1 . Product Concept – this concept used the in many business now a days. Business in this concept believes that a company must look for interested customer’s right after producing goods or services. This is applicable for many real estate developer business today.

  2. Selling Concept – this concept explain that company must first produce product and later on create selling strategy that fit to convince target market.
• Marketing Concepts

  3. Marketing Concept – the concept believe that it’s best to define first the target market, identify their needs and wants, and create product that suits the needs of the desired market.
• 5 Eras of Marketing History

  1. The Production Era - before 1925, most firms in highly develop countries the like of Western Europe and Northern America focused on mass production where this country produces a lot of goods and services in good quality. The attitude of this era conquer that high quality product basically sell itself. For example: High end brand like Louis Vuitton can send their product because of their known high standard quality. This era covers the period of the Industrial Revolutions until 1928 when the firm was concentrated on creation of a few particular item for consumption.
• 5 Eras in Marketing History

  
  

  2. The Sales Era – As production techniques in the United State and Europe become more sophisticated output grew from 1920 into early 1950. Companies with salesorientations assumes that customers will resist
• 5 Eras in Marketing History

  
  

  3. The Marketing Era – period covering 1950 to 1960, this era believes that marketing activities, actions and implementations should under one department. This department is known as the marketing department.
• 5 Eras in Marketing History

  
  

  4. Relationship Era (1960-1970) – this era established the importance of relationship to customers. Customer relationship is the key to a better business performance. This year, company consider relationship to customers in their marketing strategy.

  
  

  5. Social Era – around 1975, companies are considering the importance of giving back to the society. Social Responsibility began to take part of marketing strategies of the company.
• Categories of Non-Traditional Marketing

  1. Person marketing – Efforts to cultivate the attention, interest, and preferences of a target market toward a person Examples: Celebrity endorsements, Many Pacquiao, Lea Salonga
  2. Place marketing - Efforts to attract people and organizations to a particular geographic area. Example: Quiapo Church , Boracay , Luneta , Palawan ,Bohol, Hundred Island , Chocolate hill , Kalangaman Island in Leyte
• Categories of Non Traditional Marketing

  
  

  3. Cause Marketing - Identification and marketing of a social issue, cause or idea to selected target markets. Many profit-seeking firms link their products to social causes

  4. Event marketing - Marketing of sporting, cultural, and charitable activities to selected target markets. Example: Celebrity Concert, Fun Run, Symposium, Trade Fair, Fashion Show etc.

  5. Organization marketing - Intended to persuade others to.
• Unsought goods - goods that the customer knows about but does not consider buying under normal conditions.
• tangible products - goods
• intangible products - services
• product - anything that has value to customers
• hard selling - selling the product without considering the needs and wants of the customer
• CSR - Corporate social responsibility