Principle of marketing

• is the activity, sets of institution, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners and society at large.

  Marketing
• is a person who identifies the goods and services needed or wanted by customer and market them.

  Marketer
• is a person or a business that buys goods or avails of services produced or offered by a firm.

  Customer
• is a person who acquires good or services for direct use and has no intention of reselling them or using them to create another good or services.

  Consumer
• is the process of offering something to another and then being offered something in return.

  Exchange
• is an agreement between and a seller to exchange goods or services. (involves money or some other resources)

  Transaction
• refers to the department in a corporation that ensures the smooth flow of marketing plans, policies and programs that monitor all sales activities, customer services and distribution and promotions effort.

  Marketing Organization
• (Consumer content, Company capabilities, Communication, Competition, Cross functional contact, and Community content)

  C’s of Marketing Organization
• is a promotional tool wherein a sales person uses selling techniques to persuade a customer to purchase a good or avail a service. Use of sales skills to build a personal relationship with a customer.

  Personal Selling
• is a symbol, logo, words or a combination of these elements that a company uses to distinguish its products or services from others.

  Brand
• is the extent to which a brand is recognized by potential customers and is correctly associated with a particular product or service.

  Brand awareness
• apply to profit oriented business (e.g., Jollibee, Mercury Drug, S.M.) and also to non-profit organizations (Phil. Red Cross, Phil. TB Society). Give other examples of profit and nonprofit business.

  Marketing activities
• is one aspect of marketing and marketing takes its roots from economics.

  Selling
• is critical to any business success depending on the perspective of the owner, the size of the business and the kind of products or services being offered.

  Marketing
• uses the concept of utility, which is the power of a good or service to satisfy a

  particular need or want. It uses four kinds of utility:

  Marketing
• refers to conversion of raw materials into products that suits to the preference of the customer that they don’t need to create the product themselves. E.g. Bench, Levi’s

  Form
• refers to offering services consumers not able to do. E.g. Haircut

  Task
• refers to availability and accessibility of the product or service

  Place
• satisfaction from customer in availing the services on time.

  Time
• is ensuring that consumer has full possession of the product/service

  Possesion
• What are the Four kinds of utilit?

  Form, Time, place, possesion