finals

• The Art of War


  An ancient Chinese treatise on warfare and military science
• Sun Tzu


  Military strategist believed to have lived in the 6th to 5th centuries BCE
• 10 Lessons


  • Lesson 1
  • Lesson 2
  • Lesson 3
  • Lesson 4
  • Lesson 5
  • Lesson 6
  • Lesson 7
  • Lesson 8
  • Lesson 9
  • Lesson 10
• Lesson 1


  The supreme art of war is to subdue the enemy without fighting
• Lesson 1


  • When a company is prepared and well-planned it does not have to fight or compete, or even it does, it is as if the company is not competing because it is prepared for a variety of situations or scenarios. Therefore, the company can operate confidently with ease and without pressure.
• Lesson 2


  In the midst of chaos, there is also opportunity
• Lesson 2


  • Today, the wide array of selections available in the market may give customers option paralysis. It may be best to have differentiated products through unique features which may open up new opportunities for the product to be better known and become more attractive to customers.
• Lesson 3


  Pretend inferiority and encourage his arrogance
• Lesson 3


  • Flaunting one's strengths is not always a good strategy. A company should not show off all its capabilities, lest competitors learn from or even copy those capabilities. The company should work closely with customers and win their loyalty instead.
• Lesson 4


  Victorious warriors win first and then go to war, while defeated warriors go to war first and then seek to win
• Lesson 4


  • As Stephen Covey said, "Begin with the end in mind." The company should work backwards by visualizing its goal or target. Then, it can plan out what to do with a clear roadmap to where it wants to go.
• Lesson 5


  Supreme excellence consists in breaking the enemy's resistance without fighting
• Lesson 5


  • Word-of-mouth selling is far less expensive than promoting a product through advertising and other forms of promotion. When customers are satisfied with a product, their positive feedback and recommendation of that product act as a form of free promotion.
• Lesson 6


  Opportunities multiply as they are seized
• Lesson 6


  • As technology continues to evolve, so does consumer behavior. When a technology and consumer behavior combine, a company can find many opportunities to target new markets and generate ideas for innovation.
• Lesson 7


  Earth gives birth to length. Length gives birth to volume. Volumes gives birth to counting. Counting gives birth to weighing. Weighing gives birth to victory
• Lesson 7


  • All the strategies and tactics should result in only one thing: profits. Therefore, marketers should keep track of every activity and measure how each leads to success.
• Lesson 8


  If ignorant both of your enemy and yourself, you are certain to be in peril
• Lesson 8


  • Marketers should always be updated on customer needs and wants. They should also continuously upgrade and innovate to keep costumer satisfied and loyal to the company.
• Lesson 9


  Put them in a spot where they have no place to go, and they will die before fleeing
• Lesson 9


  • A company should not only in costumer today, but win them for life. Marketers should find ways to retain customers by always keeping them satisfied and happy with the company's product and services
• Lesson 10


  The general who advances without coveting fame and retreats without fearing disgrace, whose only thoughts is to protect his country and do good service for his sovereign, is the jewel of the kingdom
• Goal


  A broad aim toward which your effort are directed
• Objective


  A specific and measurable milestone that must be achieved in order to reach a goal
• Strategy


  A plan of action designed to achieve and objective
• Tactics


  A specific action step required to deliver on a strategy
• Strategic marketing


  The general plan of action aligned with the company's vision and goals. This is a carefully though-out course of action developed for the purpose of achieving a desired result such as profitability and high productivity.
• Strategic marketing and tactical marketing

  They complement each other in achieving company goals and objectives
• Tactical marketing


  The actions a company undertakes in order to execute an organization's strategy. It also refers to a detailed action program covering a shorter-period.
• Strategic marketing


  • Has a longer time frame usually three to five years. The role of strategic marketing is to read the firm towards attractive economic opportunities, that is, opportunities that are adapted to its resources and know-how and offer a potential for growth and profitability. While tactical is usually in short-term.
• Steps in describing marketing tactics in the marketing plan

  1. Prepare an action plan

  2. Name the necessary resources and monitor the allocated budget

  3. Identify how success of the tactics will be measured
• Marketing environment


  The sum of all the internal and external forces that affects the way a firm operates, particularly its ability to build and maintain relationships with its target customers
• Microenvironment


  Consists of all the internal factors which have direct contact with and direct influence on the company
• Macroenvironment


  Consists of the various factors which affect not only the firm itself but also the entire industry of the region or country
• 6 factors of the marketing environment

  • Demographics
  • Economics
  • Socio-cultural
  • Technological
  • Political forces
  • Ecological factors
• Demographics


  Characteristics of a population
• Economics


  Influence of the purchasing power of the peso on spending patterns, in the context of inflation and other economic forces that may affect the economy
• Socio-cultural


  Beliefs, practices, norms, customs, and traditions that may affect business operations
• Technological factor


  Developments in technology which may affect consumers, businesses, and the society at large
• Political forces


  Groups of people or parties which may influence the stability of a country and affect the production, distribution, promotion, and selling of goods and services