marketing management

• Need - the basic human requirements.
• Negative Demand – Consumers dislike the product and may even pay a price to avoid it. E.g. Dentist
• Declining Demand – Consumers may begin to buy the

  product less frequently or not at all. E.g. Music CDs
• Full Demand – Consumers are adequately buying all products

  put into the marketplace. E.g. Concert Tickets
• Overfull Demand – More consumers would like to buy the

  product than can be satisfied. E.g. Beanie Babies
• 2.Services - Intangible offerings that are provided to consumers by

  businesses. E.g. Airlines, Hotels, and Repair Services.
• 3.Events - like sporting events, music festivals, or trade shows

  bring people together for a common purpose. E.g. Hot Air Balloon

  Festival
• 4.Experiences - Experiences are people's feelings and emotions with a brand or product. E.g. Disney's magical theme parks and Chicago Symphony Orchestra
• 6.Organizations - Organizations are businesses, non-profits, and

  other entities that have a brand identity and reputation to maintain.

  E.g. Government Agencies and Philips “Sense and Simplicity”

  campaign
• 7.Information - Essentially what books, schools, and universities

  produce, market, and distribute at a price to parents, students, and

  communities. E.g. Magazines, PCWorld, and Vogue
• 8. Ideas - are concepts or causes that can be promoted to

  inspire and motivate people. E.g. Charles Revson of Revlon, “In the factory, we make cosmetics; in the store we sell hope”
• 9.Properties - refer to physical and financial assets, such

  as real estate, rental properties, stocks, and bonds. E.g. Fiesta

  Communities Inc. and GInvest by GCash
• 10.Places - are physical locations that are marketed for

  tourism or economic development purposes. E.g. Las Vegas's -Adults Playground “What happens in Vegas, stays in Vegas”
• Individuals can do marketing. For example, a marketing

  graduate applied for a job, sent a résumé and was

  interviewed. The marketing graduate then sell herself by

  showing credentials using marketing communication
• The term “market” originates from the Latin word “Marcatus”

  which means “a place where business is conducted.

  ”
• Consumer Markets - In this market the

  consumers obtain what they need or want

  for their personal or family consumption.
• Non-Durable Goods - Consumers generally

  purchase low-value items regularly, and the

  goods come with a relatively shorter shelf life.

  E.g. Fast Moving Consumer Goods (FMCG) that

  includes Personal Care Products and Home

  Care Products
• Durable Goods are a category of products that

  are designed to last a long time therefore are

  purchased less frequently and high-value

  items. E.g. Jewelry, Car, Home
• Non-profit Markets - These are the markets

  which are related to social causes and they

  raise donations and call for volunteers who

  can serve for the betterment of the society.

  E.g. Churches
• Physical evidence. This describes the tangible

  aspects of the delivery of a product to its customers.

  One example of this is the merchandising and

  display that contributes to the convenience and

  visual impact of products on display in a retail outlet

  and helps to make purchase more likely.
• Process. The actual procedures and mechanisms

  involved in the delivery of a product or service are

  also very important. For example, a person deciding

  to book an eye test will probably go through a

  number of processes, starting with a telephone call

  to book a convenient appointment.
• MARKET SEGMENTATION

  Process of dividing the population of possible

  customers into distinct groups.

  Aggregating of prospective buyers into groups

  (segments) that have common needs and will

  respond similarly to a marketing action.
• TARGET MARKET

  The consumers a company wants to sell its

  products and services to, and to whom it directs its

  marketing efforts.
• POSITIONING

  The process by which marketers try to create an

  image or identity in the minds of their target market

  for its product, brand, or organization.

  An effort to influence consumer perception of a brand

  or product relative to the perception of competing

  brands or products.

  Its objective is to occupy a clear, unique, and

  advantageous position in the consumer’s mind.
• 1.Production Concepts. The main focus is on production.

  The more product to produce the more money a

  company will earn.
• 2.Product Concept. The priority is on product. Superior

  product creates attraction to customers who look

  particularly on qualities and performances.
• 3.Selling Concept. The highlight would be persuasion.

  Pushing their product to sold thru aggressive tactics and

  heavy advertisements.
• 4.Marketing Concept. Value creation through

  companies’ effort to combat competitor is what

  matters. Rendering services to target customers and

  make them delighted sensibly the main idea.
• 5.Holistic Marketing Concept - Based on the development,

  design, an implementation of marketing programs,

  processes, activities that recognizes their breadth and

  interdependencies.
• THE NEW MARKETING REALITIES

  Major Societal Forces

  1. Network information technology

  2. Globalization - the process of promoting products and

  services to global markets.

  3. Deregulation - the removal or reduction of government

  regulations in a specific industry.

  4. Privatization - occurs when a government-owned

  business, operation, or property becomes owned by a

  private, non-government party.
• 5. HC - Heightened competition

  6. Industry convergence - E.g. Online and app-based

  booking for medical appointments in healthcare

  7. Consumer resistance - inevitable challenges for any

  marketer who wants to persuade potential customers to

  buy a product or service.

  8. Retail transformation

  9. Disintermediation - the process of cutting out the

  financial intermediary in a transaction.