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7/29/2019 Fundamentals of Marketing - Introduction
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FUNDAMENTALS OF MARKETING
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Market
A place where buyers and sellers
make transactions
FUNDAMENTALS OF MARKETING
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Marketing Defined
Is the transaction (exchange)
process, in which two parties (buyerand seller) give something of value
to each other.
This is similar to Sales
FUNDAMENTALS OF MARKETING
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Components of Market
Seller (Company)
Buyer (Customer)
FUNDAMENTALS OF MARKETING
Company Customer
Figure 1: Two interacting components in a Market
Customer Company 2
Figure 2: (Another) Two interacting components in aMarket
Customer Competitor
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Components of Marketing (3 C)
FUNDAMENTALS OF MARKETING
Objective: Satisfaction
Objective: Outperform Competitors
Objective: Profit
Key Result Area: Sales
Key Result Area: Market Share
Key Result Area: More Profit
Figure 3: 3 Cs of Marketing
Company
Customer
Competitor
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Key Results Areas
Sales it is obtained from
customer satisfaction.
Market Share it is the ratio of
the brand sales versus the total
market sales. Profit Net income of the
company.
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Market Share of Lap Top in 2008source: yugatech
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Market Share: Detergent Bars
FUNDAMENTALS OF MARKETING
26
29
27
29
21
24
12
7
109
24
21
0
5
10
15
20
25
30
Tide Surf Mr. Clean Speed
2001 2002 2003
2001: PhP 5.90 B 2002: PhP 6.10 B 2003: 6.53 B
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A review
3 Cs in Marketing
Satisfaction
Outperform
Competitors
Profit
Customer
Competition
Company
Sales
Market Share
More Profit
?
?
?
Objective Key Result Area Action
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Customer - Action
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Needs & Wants
Needs Basic reason or
minimum requirement
customers look for in a product
Wants Motivating attributes(Characteristics)
SALES
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Wants (Features, Advantages & Benefits)
Features product attributes
Ingredients - Calcium Advantages what the features can do
in the product Hard Teeth
Benefits provide a favorable result inthe future when the customer uses theproduct or services. Savings, Confidence
SALES
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Competition - Action
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Target Market (Segmentation)
The process of dividing the total
market into smaller groups seekingsimilar needs and wants.
It enables a company to develop a
positioning and marketing strategythat can satisfy a smaller yet focused
range of customers needs and
wants.
Market Share
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4 Ways of Segmenting the Market
By needs and wants.
By demographics.
By psychographics
By consumer behavior
Target Market & Segmentation
T t M k t & S t ti
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By Needs and Wants
The major way for segmenting
the market.
Ex. Vitamins, Restaurant,
Target Market & Segmentation
T t M k t & S t ti
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By Demographics
Deals with questions such as
Who you are and How muchdo you earn.
Target Market & Segmentation
T t M k t & S t ti
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Demographics Segmentation Variables
Age Baby, Kids, Teenager, Yuppies, Senior Citizen
Gender Male, Female, Gay/Lesbian
Status Single, Married, Widow, Divorced, Separated
Income A, B, C+, Broad C, D, E
Education High School, College, Masters, Vocational
Profession Businessman, Nurse, Factory Worker, Student
Location 1. density urban, rural sub-urban
2. geographic GMA, Luzon, Asia Family Size Big, Small, Couple, Bachelor
Religion Catholic, INC, Buddhist, Alagad ni Batman
Nationality Pinoy, Sakang, Kano,
Target Market & Segmentation
T t M k t & S t ti
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By Psychographics
Deals with questions such as
What you do and How youspend you money and is being
used for creative advertising
messages. It relates to a persons lifestyle
Target Market & Segmentation
T t M k t & S t ti
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Psychographics Segmentation Variables
Personal and Interests
Food
Health and Beauty
Shopping
Drugs
Technology
Target Market & Segmentation
Target Market & Segmentation
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By Behavior
The manner or approach by
which the customers purchasetheir products.
Target Market & Segmentation
Target Market & Segmentation
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Behavioral Segmentation Variables
Purchase Frequently Regular, Occasional
User Status Non-user, Regular
user, First time
user
User rate Heavy user, Light User
Loyalty status Absolute, Strong,
Small, None
Target Market & Segmentation
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Company - Action
Company
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Profitability is the Key
Mission and Vision Statements
Industry and Competition (SWOT) Analysis Target Customer
Pricing
Distribution
Key Personnel Factors For Success Human Resources
Budget Allocation Advertisement,
Promotions
Additional Workforce
Market Integration
Company
Company
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Mission & Vision (Objective)
MissionIt answers the question What
is our business? as it defines the needsand wants of the market. To disseminate, generate, preserve and apply
scientific, engineering, architectural and ITknowledge.
To provide its students with professional andadvance scientific engineering, architectural andinformation technology education through rigorousand up to date academic program with ampleopportunities for the exercise of creativity and theexperience of discovery.
Company
Company
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Mission & Vision (Objective)
VisionIt explains the companys future
and what it intends to be. The purpose ofexpanding the business.
The center for international excellence in
Technology education by:
Providing instructions that are current in contentand state-of-the art in delivery;
Engaging in cutting edge research;
Responding to the big local and global
technological challenges of the times.
Company
Company
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Industry and Competition (SWOT) Analysis
Strength internal positive factors which will helpthe company achieve its key result areas.
Weakness internal negative factors that mayhinder the attainment of the companys key resultareas.
Opportunities external positive situations whichwill enhance the companys position in the
industry. Threats external negative situations that may
dampen its position in the industry.
Company
A review
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A review
3 Cs in Marketing
Satisfaction
Outperform
Competitors
Profit
Customer
Competition
Company
Sales
Market Share
More Profit
Needs & Wants
Market
Segmentation
Mission, Vision,
SWOT Analysis,
Success Factors,
Budget , Finance
Objective Key Result Area Action
FUNDAMENTALS OF MARKETING
FUNDAMENTALS OF MARKETING
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Marketing Defined Modern Version
Is the exchange process , in
which two or more parties givesomething of value to eachother.
It is the process of continuously
and profitably satisfying thetarget customers needs andwants superior to competition
FUNDAMENTALS OF MARKETING
FUNDAMENTALS OF MARKETING
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Marketing Defined Modern Version
It is the process of continuously
and profitably satisfying thetarget customers needs and
wants superior to competition
FUNDAMENTALS OF MARKETING
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