G12 ABM Principles of Marketing

1. Continuation of Chapter 1
Principles of Marketing

2. Factors for Developing Marketing Concepts
1. Capturing Marketing Insights
• The overall direction must focus on its vision and mission.
• The organizational goals and objectives must be directed towards the
creation of value to its customers.
• Marketing must be focused towards its ultimate set of tasks in the
building of long-lasting relationship with its target market.

3. Factors for Developing Marketing Concepts
2. Effective Financial Management System
• Financing the marketing program will develop effective sales program
that will bring in sustainable profitability.

4. Factors for Developing Marketing Concepts
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.

5. Factors for Developing Marketing Concepts
4. The Production Process
• The process must conform to standards in terms of product quality
• Production may produce so many products, yet they are useless
inventory when they fail to reach their target market.

6. Factors for Developing Marketing Concepts
5. The Presence of Competitors
• The marketing of products becomes interesting with the presence of
competitors
• Product improvement and pricing strategies with sustained
promotional and advertising program are important components in
the competitive market

7. The Goals of Marketing and their Social
Effects
1. Maximize the Consumption of Goods
• The marketing job is to stimulate greater product consumption
• Greater production requires consumption of material inputs and
more goods in the market that create more employment.
• More jobs are created, and more people enjoy economic wealth

8. The Goals of Marketing and their Social
Effects
2. Maximize Consumer Satisfaction
• The market demand is varied, and customer satisfaction is the
challenge of the marketing organization.
• Measurement of customer satisfaction is difficult.

9. The Goals of Marketing and their Social
Effects
3. Maximize Choice of Goods or Service
• Some marketers believe that the goal of marketing is to maximize the
variety of the product in the market and provide consumers a wide
assortment of choices
• The main objective is for customers to find the goods that will satisfy
their biological needs as well as their emotional and social wants.

10. The Goals of Marketing and their Social
Effects
4. Maximize the Quality of Life
• The improvement of the quality of life is the target of marketing
people
• The quality of life is difficult to measure. Life satisfaction is more than
the physical comfort.

11. General Goals of Marketing
1. Focusing on customer wants and needs to distinguish
products from competition
2. Integrating all the organization’s activities to satisfy
customer wants and needs
3. Achieving the organization’s long-term goals by satisfying
customer wants and needs

12. KEY PERFORMANCE INDICATORS
• Key performance indicators (KPIs) are used to check that the
marketing activities of a company are on track.
• KPIs are specific metrics which are used to track performance to make
sure the firm is on track to meet specific objectives
• They are sometimes known as performance drivers or critical success
factors for this reason

13. Examples of noteworthy marketing goals:
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

14. What is Traditional 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.

15. What is Traditional Marketing?
• 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 an increase in leads, a higher quality of leads, sales and
traffic to web content.

16. What is Traditional Marketing?
• Traditional Marketing seeks to pull customers to a product, whatever
the cost.
• It is, for this reason, considered to be outdated as it does not consider
the customer they are selling to, more the market that the company
operates within

17. DEFINITION OF CONTEMPORARY MARKETING
• Simply defined, contemporary marketing refers to marketing
strategies that are consumer focused. Contemporary marketing
strategy offers products and services based on what the target market
desires rather than what the company wants them to have, thereby,
offering greater support for their customers and becoming able to
take advantage of more advanced marketing funnels to track
progress.

18. DIFFERENCE BETWEEN CONTEMPORARY
MARKETING ORIENTATION AND TRADITIONAL
MARKETING ORIENTATION
• The main difference between the contemporary marketing
orientation and traditional marketing orientation is that while the
former is consumer-focused, the latter is company focused.
• Traditional marketing is concerned with pulling customers and does
not really consider the customer's diverse needs
• Contemporary marketing aims for customers satisfaction in order to
build a relationship with them.

19. Here are some of types of marketing:
• 1. Business to Business - B2B Marketing
• 2. Business to Consumer - B2C Marketing
• 3. Brand Marketing
• 4. Cloud Marketing
• 5. Telemarketing
• 6. Guerrilla Marketing
• 7. Push Marketing
• 8. Influencer Marketing

20. Emerging Types of Marketing and their
Applications:
1. Search engine
optimization
• is majorly concerned with
increasing a business’
visibility and rankings on
search engine result pages

21. Emerging Types of Marketing and their
Applications:
2. Pay per Click advertising
• This is advertising presented
on search engine result pages
or web pages where the
advertiser is only charged
based on the number of times
someone clicks on the ads to
go to the advertiser's targeted
website

22. Emerging Types of Marketing and their
Applications:
3. Email marketing
• is a type of marketing based
on the distribution of
messages through emails.
Email marketing provides
direct contact with customers
and allows businesses to
create relationships with their
customers

23. Emerging Types of Marketing and their
Applications:
4. Referral marketing
• is a type of marketing
where an individual or
customer pleased with the
results gotten from a
product refers the product
to another person

24. Emerging Types of Marketing and their
Applications:
5. Affiliate marketing
• is a prominent type of
internet marketing where a
third party promotes a
product and earns
commission, or a piece of
the profit gotten from every
sale made through that
referral.

25. Emerging Types of Marketing and their
Applications:
6. Video marketing
• Videos act as one of the
most interactive types of
online marketing and can
prove to be a great way to
raise awareness about a
business or product

26. GREEN MARKETING
Green marketing refers to the
process of selling products
and/or services based on their
environmental benefits.
Company are selling products
and/or services by first
promoting its benefit that is
environmentally friendly or
produced in an environmentally
friendly way.