BASIC CONCEPTS

OF MARKETING
 TOPIC: BASIC CONCEPTS OF MARKETING

Objectives:
1. Learner will be able to explain and define various Marketing
terms and how it relates to the Business world.
2. Learner will be able to demonstrate knowledge of Marketing and
its valuable benefit to a business.
MARKETING

— is 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.

© American Marketing Association

 IMPORTANCE OF MARKETING

• It is the key process of researching, promoting and selling products

or services to your target market. It builds brand awareness,
increase sales, grow businesses and engage customers.
 MAIN GOAL OF MARKETING

1. Customer Satisfaction
2. To achieve organizational objectives or to gain profit
THE MARKETING MIX (4PS)

Product Price

Target Market

Place Promotion
 THE MARKETING MIX (4PS)

Marketing Mix
Product Price — is about putting the right product or
a combination thereof in the place, at the
right time, and at the right price.
Target Market

Target Market
Place Promotion
— the customers who are most likely to
buy the firm's products. Also called target
audience.
 THE 4 P'S

Product
— is an item that is built or produced to satisfy the needs of a certain
group of people. The product can be intangible or tangible as it can
be in the form of services or goods.
 THE 4 P'S

Price
— the amount of the product that the customer pays to be able to buy
the product.
 THE 4 P'S

Place/Distribution
— how a product flows from producer to customer. Wholesalers link the
producer of the goods to the customer.
 THE 4 P'S

Promotion
— different elements that help increase the sale of the product.

Examples: advertising, public relations, sales promotion

 Directions: fill in the blanks below with the correct vocabulary word.
1.______________ is the activity, set of institutions, and processes for creating,
QUIZ communicating, delivering, and exchanging offerings that have value for

TIME!
customers, clients, partners, and society at large.
2.______________ is an item that is built or produced to satisfy the needs of a certain
group of people. The product can be intangible or tangible as it can be in the
form of services or goods.
• Goal of Marketing
3.______________ are different elements that help increase the sale of the product
• Marketing
4.______________ the amount of the product that the customer pays to be able to buy the
• Product
product
• Promotion
5.______________ to achieve organizational objectives or to gain profit and customer
• Marketing Mix
satisfaction
• Target Market
6.______________ is how a product flows from producer to customer.
• Price
7.______________ are the customers most likely to buy the firm's products.
• Distribution
8.______________ is about putting the right product or a combination thereof in the place,
• Importance of
at the right time, and at the right price.
Marketing
9.______________ it is the key process of researching, promoting and selling products or
services to your target market. It builds brand awareness, increase sales, grow
businesses and engage customers.
 ASSIGNMENT!
Part 1 (submit next meeting)
• Choose a company you frequently buy from.
(Example: McDonalds®, Jollibee®, 7-11®, etc.)
• Identify that company's target market and marketing mix.

Part 2 (submit next week’s meeting)

• Create their own company, including creation of product, advertising for that product to a
target audience, and all the components for a successful marketing mix. This project could
take several weeks, depending on the details required.