PRINCIPLES OF MARKETING

T. ELVIRA L. BALIAG
 MARKETING
A form of
MARKETING
PRINCIPLES communicating or
AND promoting the value of a
STRATEGIES product, service or
brand to the consumers.
MARKETING NEEDS
PRINCIPLES WANTS
AND
STRATEGIES DEMANDS
  MONETARY GOALS – marketing
objectives is stated in terms of
performance
 SOCIAL RELATED GOALS -
GOALS OF marketing objectives is stated in
MARKETING terms of external objectives
 MARKETING RELATED GOALS -
marketing objectives is stated in
terms of direction
 SITUATIONAL ANALYSIS
MARKETING STRATEGY
FORMULATION
MARKETING MARKETING MIX
PROCESS DECISIONS
IMPLEMENTATION AND
CONTROL
  1. PRODUCTION CONCEPT
The production concept assumes that
customers prefer products that are
TRADITIONAL inexpensive, affordable, and widely
APPROACHES available. Efforts are concentrated in
TO expanding distribution, and
MARKETING improving production efficiency. The
objective is to lower production costs
resulting in lower prices.
 2. PRODUCT CONCEPT
The product concept assumes
TRADITIONAL that customers will always prefer
APPROACHES and patronize products of high
TO quality. Resources are focused on
MARKETING product improvement and
innovation.
  3. SELLING CONCEPT
The selling concept emphasizes
aggressive selling and promotional
TRADITIONAL
efforts. It assumes that customers are
APPROACHES
TO generally timid and must be
MARKETING persuaded into buying. The objective is
to sell what is manufactured rather than
manufacture what the market wants.
  1. MARKETING CONCEPT
The marketing concept considers the
CONTEMPORARY needs of both the customer and the
APPROACHES TO product offered. The objective is to
MARKETING provide a solution to the customer’s
actual or perceived problem.
 2. RELATIONSHIP MARKETING
CONCEPT
This believes that all marketing
CONTEMPORARY
APPROACHES TO activities are for the purpose of
MARKETING establishing, maintaining, and
strengthening meaningful long-
term relationships with customers.
  3. SOCIETAL MARKETING CONCEPT
This concept is similar with the
marketing concept. However, beyond
providing solutions to customers, the
CONTEMPORARY
APPROACHES TO societal marketing concept goes
MARKETING further to include considerations that
protects the customer’s well-being and
interests, as well as the interests of the
environment and society.
 CUSTOMER CUSTOMER SERVICE
RELATIONSHIP
 It is the process of
managing an
CRM organization’s
interactions with
current and future
customers.
 It is the forecasted
sales or profits that a
company can derive
CLV from the entire span
of the future
relationship with a
particular customer.
  1. Adopt the right mindset
towards customer service.
If product improvement is not
SUCCESSFUL anymore effective, businesses turn
CRM to customer service. It may be in
STRATEGIES the form of pricing scheme, extra
services, or staff trainings that
aims to promote customer
satisfaction.
SUCCESSFUL 2. Purchase or develop
CRM CRM software.
STRATEGIES
SUCCESSFUL  3. Quantify customer
CRM acquisition and retention
STRATEGIES costs.
SUCCESSFUL  4. Develop and implement a
CRM customer service training
STRATEGIES program.
SUCCESSFUL  5. Empower salespersons to
CRM make decisions.
STRATEGIES
SUCCESSFUL  6. Establish communication
CRM lines between your customer
STRATEGIES and customer contact staff
SUCCESSFUL
CRM  7. Shop your competition.
STRATEGIES
SUCCESSFUL  8. Keep innovating customer
CRM service.
STRATEGIES
SUCCESSFUL  9. Promote genuine customer
CRM service with a passion.
STRATEGIES
 Column A Column B

1. If product improvement is not effective A. Empower salespersons

anymore, businesses can turn to customer to make decisions
service.
2. Using CLV to be a guide in selective B. Shop your competition
product discounting.
3. Developing a Customer Service Skills C. Quantify customer
program to instill a customer-driven acquisition and retention
behavior among all employees. costs
4. Setting parameters for salespersons. D. Adopt the right mindset
towards customer service

5. Keeping track of what competitors are E. Develop and implement

doing in the area of customer service. a customer service
training program
GIVE AN EXAMPLE OF
CUSTOMER PRACTICES
IN THE PHILIPPINES AND
EXPLAIN THROUGH A
FLOW CHART