Marketing Principles Goals and Approaches 1

R E P O RT E D BY: LY K A M O N G H I T
MARKETING PRINCIPLES,
GOALS AND APPROACHES
DEFINITION AND CONCEPT OF
MARKETING PRINCIPLES, GOALS
AND APPROACHES.
Marketing is the creation and communication of value to

customers. It involves the customer’s maintenance of
relationships that should last for lifetime. It is the link between
society’s material requirements for its needs and wants.
Marketing must satisfy human needs and wants through the

exchange process and the building of long-term
relationships.
2
Over the years, marketing has evolved various definition and its meaning changes
according to the views of the different marketing gurus. Many view marketing as
processor dynamic business activity that is designed to plan and promote the
delivery or satisfy needs and wants of the potential and present market. In the
definition of marketing given by the American Marketing Association or AMA,
“Marketing is an organizational function and a set of processes for creating,
communicating, and delivering value to customers and for managing
customer relationships in ways that benefit the organization and its
stakeholders.” The definition views as an exchange process or discipline that involves
strategies, activities, positions, and institutions.
4
PRODUCT BENEFITS
• Increased productivity
• Seamless integration
• Enhanced user experience
• Scalability for future growth
• User-friendly learning
6
MARKET
OVERVIEW
COMPETITIVE
LANDSCAPE
8
G R O W T H S T R AT E G Y
Expand market reach through strategic partnerships
Enhance product features based on user feedback
Explore international market opportunities
Expand Enhance Explore
Ensure a tailored
Foster collaborative Capitalize on emerging
and user-focused
growth global markets
experience
9
FA C T O R S F O R D E V E L O P I N G
MARKETING CONCEPTS
1. Capturing Marketing Insights The overall direction must focus on its vison and mission. The
organizational goals and objectives must be directed towards the creation of value to its
customers. These must be the inherent philosophy of the marketing organization. The functional areas in
the marketing organization must be focused towards its ultimate set of tasks in the building of
long-lasting relationship with its target market.
2. Effective Financial Management System This system in the procurement of quality and
affordable materials for processing of the product is a vital component in effective operation
of the marketing system. The competition in the market is based on affordable quality products where
labor and materials interplay in their production. Financing the marketing program will develop
effective sales program that will bring in sustainable profitability.
10
3. The Value of Human Resources All business activities need human resources
in their operation. The employees must be committed in the production
of quality products and the delivery of quality service. They must develop work
ethics and strong commitment to the marketing efforts of the organization.
Sustainable development and progress rest with people who are willing to
put all efforts towards the organizational objective of quality products and
service.
4. The Production Process The process must conform to standards in terms of
product quality. The race to economic profitability is the production of
products that shall satisfy the customer’s wants and needs. The role of marketing
is to sell more products, but it must conform to customer demand. Production may
produce so many products, yet they are useless inventory when they fail to reach
their target market. Marketing efforts will turn them into profitable inventory.
11
5. The Presence of Competitors The marketing of products becomes interesting
with the presence of competitors. Marketing outfit must develop strategies in
capturing their target market and develop and sustained patronage. These
marketing strategies must develop customer loyalty to the brand or the product.
Product improvement and pricing strategies with sustained promotional and
advertising program are important components in the competitive market .
Traditional concept marketing is a marketing strategy a company uses to

determine if it can produce a viable product consumer want or need,
whether the company can produce enough products to fill the need, and the marketing
method by which the need can be filled
12
SEVERAL DISTINCT TRADITIONAL APPROACHES:
1. Production concept focuses on the internal potentials of the company and not based on the desires and
needs of the market.
2. Marketing concept a philosophy which states that organization must try hard to find out and satisfy the
needs and wants of consumers while at the same time accomplishing the organizational goals.
3. Sales concept refers to the idea that people will buy more goods and services through personal selling and
advertising done aggressively to push them in the market.
4. Relationship concept/marketing an approach that centers on maintaining and improving value-added long-
term relationships with current customers, distributors, dealers and suppliers
5. Societal Marketing Concept views that organizations must satisfy the needs of consumers in a manner that
gives for society’s benefit
13
14
15
16
1. Identifying the target market
2. Increasing sales and profits
3. Increasing brand awareness
4. Increasing market share
5. Countering competitive strategies
6. Reputation
7. Increasing distribution channels
17
W H AT I S T R A D I T I O N A L
MARKETING?
Traditional marketing is an umbrella term that covers the wide array of advertising
channels we see daily. These may include print media, billboard and TV advertising, flyer
and poster campaigns and radio broadcast advertising.
These traditional marketing messages are not necessarily outdated, however, research has
shown those companies that have abandoned simply using these channels, and adopted
contemporary marketing channels proposed in this article, have remained prosperous and
in fact seen as increase in leads, a higher quality of leads, sales and traffic to web content.
18

Marketing Principles Goals and Approaches 1

Uploaded by

Copyright:

Available Formats

Marketing Principles Goals and Approaches 1

Uploaded by

Document Information

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Marketing Principles Goals and Approaches 1

Uploaded by

Copyright:

Available Formats

R E P O RT E D BY: LY K A M O N G H I T

Marketing is the creation and communication of value to

Marketing must satisfy human needs and wants through the

Expand market reach through strategic partnerships

Enhance product features based on user feedback

Explore international market opportunities

Expand Enhance Explore

Traditional concept marketing is a marketing strategy a company uses to

2. Increasing sales and profits

3. Increasing brand awareness

4. Increasing market share

5. Countering competitive strategies

7. Increasing distribution channels

You might also like