POM

• Marketing


  According to Dr. Philip Kotler, an American marketing author and often called "The Father of Marketing," Marketing is a social and managerial process whereby individuals and groups obtain what they have and wish through creating and exchanging products and value with others.
• Marketing


  According to the American Marketing Association (AMA), Marketing is an organizational function for creating, communicating, and delivering value to customers and managing customer relationships to benefit the organization and its stakeholders.
• Marketing


  According to Merriam-Webster dictionary, Marketing is the process or technique of promoting, selling, and distributing a product or service from producer to consumer.
• The fundamental essence of marketing can be summarized as "the process of fulfilling customer needs with profitability"
• Marketing philosophies

  • Production concept
  • Product concept
  • Selling concept
  • Marketing concept
  • Societal marketing concept
  • Holistic marketing concept
  • Relationship marketing concept
  • Digital marketing concept
  • Experiential marketing concept
  • Green marketing concept
• Marketing principles

  • Customer orientation
  • Value creation
  • Segmentation, targeting, and positioning
  • Integrated marketing communications
  • Relationship marketing
  • Ethical and social responsibility
  • Innovation
  • Competitive analysis
  • Metrics and evaluation
  • Adaptation to the environment
• The marketing mix (8 P's of marketing)

  • Product
  • Price
  • Place
  • Promotion
  • People
  • Physical evidence
  • Process
  • Positioning
• Goals and importance of marketing

  • Increase goods consumption to boost the economy
  • Guarantee the highest level of customer satisfaction while also acting responsibly towards society
  • Improve the variety of products and services offered to customers
  • Enhance the quality of life and make everyone's way of living easier
• Traditional marketing


  An effective promotional strategy that engages audiences through offline channels
• Most effective traditional marketing approaches

  • Handouts
  • Billboards
  • Direct mail marketing
  • Print ads
  • Event marketing
  • Broadcast marketing
  • Cold calling (telemarketing)
  • Product placement
• Contemporary marketing


  Promotes products or services using current and modern methods such as social media, content creation, and search engine optimization
• Most effective contemporary marketing approaches

  • Social media marketing
  • Influencer marketing
  • Content marketing
  • Search engine optimization (SEO)
  • Mobile marketing
  • Experiential marketing
  • Guerilla marketing
  • Interactive marketing
• Environmental scanning refers to an in-depth examination of key factors that influence the business operations of a firm
• Macro-environment


  External factors that greatly impact the area, industry, and market in which the enterprise operates
• PESTEL analysis factors

  • Political
  • Economic
  • Social
  • Technological
  • Environmental
  • Legal
• Micro-environment


  Factors that are close to the company and impact its ability to serve customers
• Porter's five forces

  • Threat of new entrants
  • Buyer power
  • Threat of substitution
  • Supplier power
  • Competitive rivalry
• Consumer market


  Comprises individuals who buy goods and services for personal use
• Consumer buying roles

  • Initiators
  • Influencers
  • Buyers
  • Deciders
  • Users
• Types of consumer buying behavior

  • Complex buying behavior
  • Dissonance-reducing buying behavior
  • Habitual buying behavior
  • Variety-seeking buying behavior
• Various industries and products, such as food, clothing, electronics, automobiles, etc. Companies analyze the consumer market to understand consumer demands, trends, and buying habits.
• Consumer buying roles

  • Initiators
  • Influencers
  • Buyers
  • Deciders
  • Users
• Consumer buying behavior


  The study of individuals' processes and actions when searching for, evaluating, and purchasing products or services
• Understanding consumer buying behavior


  • Helps businesses develop effective marketing strategies, improve product offerings, and build strong customer relationships
• Types of consumer buying behavior

  • Complex buying behavior
  • Dissonance-reducing buying behavior
  • Variety-seeking buying behavior
  • Habitual buying behavior
• Complex buying behavior


  High consumer involvement in a purchase, and there are significant perceived differences among brands—when the product is expensive, risky, infrequently purchased, and highly self-expressive
• Dissonance-reducing buying behavior


  High consumer involvement but few perceived differences among brands. When the product is expensive, risky, infrequently purchased, and has little difference among brands. Consumers might experience post-purchase discomfort.
• Variety-seeking buying behavior


  Low consumer involvement but significant perceived brand differences. There is minimal risk involved. There are many products, each with its features and attributes.
• Habitual buying behavior


  Low consumer involvement and few significant perceived brand differences. Consumers choose a product they are most comfortable with or usually buy out of routine or habit.
• An industrial market, also called Business-to-Business (B2B), is a market where businesses buy and sell goods and services to produce or operate other products or services.
• Organizational buying roles

  • Users
  • Influencers
  • Deciders
  • Approvers
  • Buyers
  • Gatekeepers
  • Initiators
• Industrial buying behavior


  Businesses' actions and decision-making processes in purchasing to supply the business. It is characterized by a more rational approach than consumer buying behavior, as businesses focus on maximizing efficiency and profitability rather than catering to individual preferences.
• Types of industrial buying behavior

  • Make
  • Systematic buying
• New purchase


  Purchasing for the first time
• Modified purchase


  The organization already has experience with a similar product or service, but the new purchase has some alterations or improvements
• Repeat purchase


  The organization has previously bought the same product or service and is making a similar purchase again
• Factors influencing consumer buying behavior

  • Economic factors
  • Personal factors
  • Psychological factors
  • Cultural and social factors
• Economic factors


  Various elements that impact the decisions and actions of consumers concerning purchasing goods and services
• Personal factors


  The individual characteristics, traits, and preferences that affect consumers' purchasing decisions
• Psychological factors


  The internal forces that influence an individual's behavior and decision-making in the consumer market