Marketing
- Is a form of communicating or promoting
the value of a product, service or brand
to customers.
American Marketing Association
- The activity, set of institutions, and
processes for creating, communicating,
delivering, and exchanging offerings
that have value for customers, clients,
partners, and society at large.
- Value- the key to this definition of
marketing.
- Marketing can be summarized as the
creation, communication, and the
delivery of Value to customers.
Philippine Marketing Association
- Defines marketing as a “Science and a
profession guided principally by the
universal principles of ethics, corporate
citizenship, and corporate social
responsibility.
- This definition emphasizes and
adherence to ethical principles,
corporate citizenship, and social
responsibility.
GOALS OF MARKETING
1. Understand the market and its
consumers, and satisfy their changing
needs and wants.
2. Introduce and innovate products and
services.
3. Design and implement effective
customer-driven marketing strategies.
4. Develop marketing programs.
5. Build and maintain mutually beneficial
and profitable customer relationships.
6. Capture customer value to create
profits.
7. Promote value transactions.
THE MARKETING STRATEGY
Diagram- {Page 3}
 Situation Analysis
 Marketing Strategy Formulation
 Implementation and Control
 Marketing Mix Decisions
MARKETING PRODUCTS
- Products or goods are physically
tangible items.
- Products are generally perceivable by
the human senses and can be inspected
prior to purchase.
PRODUCT LEVELS
- Core/Generic- houses its core or generic
function. Generic Function can be
defined as the purpose for which
product was created.
- Formal Product- second level which
include the differentiation of one’s
product to another manufacturer.
- Augmented Product- third level which
includes the installment offerings or
credits for high priced products such as
cars etc.
CLASSIFICATION OF PRODUCT/GOODS
1. According to use:
- Consumer goods- are goods that are
purchased for consumption.
- Industrial goods- are purchased in order
to make other goods, to serve as a raw
material or input in the production of
other goods.
2. According to differentiation
- Undifferentiated goods- are products
whose physical characteristics are so
identical, that it would be difficult to
distinguish from one vendor to another.
- Differentiated goods- are varied in their
characteristics and features that they
are readily distinguishable from one
another. Branding- ability of
manufacturers to successfully distinguish
their products from other competitors.
Brand Equity- appreciation in brand’s
value from the point of view of
customers.
3. According to durability
- Consumable- is a product whose benefit
can only be used by a consumer for only
a short period of time, sometimes only a
few minutes.
- Semi-Durables- provide benefits to the
customer for a longer period of time,
usually spanning several months.
- Durables- products that are
manufactured to last a long time.
 4. According to type:
- Convenience goods- are products that
are purchased frequently, are usually
inexpensive, and do not require much
purchase effort and evaluation.
- Shopping goods- are purchased less
frequently than convenience foods, are
relatively more expensive, and require
some amount of information search and
evaluation prior to purchase.
- Specialty goods- are goods that require
unusually large effort on the part of
consumers to acquire.
- Unsought goods- are goods that
consumers seldom actively look for, and
are usually purchased for extraordinary
reasons, such as fear or adversity, rather
than desire.

FOUR MAJOR ATTRIBUTES OF MARKETING

SERVICES:

- Intangibility
- Variability
- Inseparability
- Perishability