MM230

MARKETING
MANAGEMENT
Corazon L. Abansi, PhD.
Professor of Economics
Vice-Chancellor for Academic Affairs
University of the Philippines
Understanding Marketing Management
Marketing Management: Definition
Marketing management is the process of planning and executing
the conception, pricing and promotion and distribution of goods,
Philip Kotler services and ideas to create exchanges with target groups that
satisfy customer and organizational objectives

Marketing is a societal process by which individuals and groups

Peter Drucker obtain what they need and want through creating, offering and
freely exchanging products and services of value with others

Marketing Marketing is the art and science of choosing target markets and
Management getting, keeping and growing customers through creating, delivering
Association and communicating superior customer value
What is marketed 5 basic markets
• Goods
• Services
• Events
• Experiences
• Persons
• Places
• Properties
• Organizations
• Information
• ideas
Key customer markets Market terminologies

• Consumer markets • Marketplace – physical such as

• Business markets a store
• Marketspace – digital as when
• Global markets we shop in the internet
• Non-profit and • Metamarkets – a cluster of
government complementary products and
markets services that are closely
related in the minds of
consumers but spread across a
diverse set of industries
Marketing Management Concepts/Philosophies
• 5 major competing concepts:
• Production concept: consumers will prefer products that are
widely available and inexpensive
• Product concept: consumers will favor products that offer the
most quality performance or innovative features
• Selling concept: consumers and businesses, if left alone, won’t buy
enough of the organization‘s products
• Marketing concept: customer-centered, sense and respond
philosophy; find the right consumers for your product and find the
right products for your consumers
• Holistic marketing concept: everything matters in marketing
Holistic Marketing Concept
• Four components of holistic marketing
• Relationship marketing: build mutually satisfying long term relationship
with key constituents in order to earn and retain the business
• Integrated marketing: devise marketing activities and assemble fully
integrated marketing programs to create, communicate and deliver
value for consumers (marketing mix)
• Internal marketing: everyone in the organization embraces appropriate
marketing principles
• Performance marketing: understanding the returns to the business
from marketing activities and programs; addressing ethical, legal, social
and environmental effects
Marketing Management Tasks
• Developing marketing strategies and plans
• Capturing market insights
• Connecting with customers
• Building strong brands
• Shaping the market offerings delivering value
• Communicating value
• Creating long-term growth