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SALSONA, RICA JANE G.BBTE 3-2

Entrepreneurship for High School TeachingFundamentals of Marketing, Customers, and Strategic Marketing

Planning

What this module is about

Hello my dear students, nice to see you again! This module is all about theFundamentals of Marketing, Customers, and Strategic Marketing Planning. Thismodule is designed to develop the knowledge and skills necessary for the successin the field of business.

What you are expected tolearn

My dear students you expected to learn are the following:

1. Define Marketing2. Identify the Fundamental Marketing Concepts3. Discuss the Internet's impact on the marketing function4. Learn how to Satisfy customers and Served customers5. Familiarize the Learning about customers6. Classify the Planning marketing strategies7. Demonstrate knowledge of telephone systems and good telephone protocol.

How to learn from thismodule

MyDear students! Id like you to picture in your mind that you are anEntrepreneur that manages a big company. I know you have a strong desire to

become an entrepreneur someday right? Dont just dream make an action on it.In this Module you must learn so many things in building up a strong andsuccessful firm or business. It gives you knowledge and developed your skills andas well as the effective strategy management planning.

There is nothing to worry about! All you have to do is study well andanswer the pre-test, self-check exercises, post-test honestly and actively join tothe activity for you to able to become successful in the field of business. Enjoy!


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6. This is the study of what induces individuals to buy one product over another.

A. Retail sales B. Consumer buying behavior

C. Market profiles D. Customer choice

7. Which is not a common service offered by E-tailers?

A. Self-help web pages B. Email

C. Tutorials D. None of the above

8. This represents the difference between a persons actual state and his or her

ideal state.

A. Utility B. Want

C. Need D. Market

9. This collected information is organized in a computer-based catalog to be

queried and sorted.

A. Email B.Database

C. Instant messaging D. Web page

10. Which is not an organizational market?

A. Consumer B Retailer

C. Industrial D. Government

11. This is moving a product from manufacturer to consumer.

A. Distribution B. Distribution

C. Promotion D. Retailing


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12. These people or businesses need or want a product, and have the money to

buy it.

A. Focus group B. External environment

C. UPC D. Market

13. This is the organizations portion of the total sales in a market.

A. Market share B Niche

C. Product mix D. Target market

14. This task tells marketers where the product needs improvement and what

strengths to emphasize.

A. Analyzing the external environment B. Evaluating competition

C. Examining the current market situation D. Examining strengths and

weaknesses

15. This is selling existing products in new markets.

A. Diversification B. ProductDevelopment

C. Geographic expansion D. Market penetration


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It gives you an advance idea in our discussion.

Cognitive dissonance or Buyer's remorse is the anxiety following a

purchase that prompts a buyer to seek reassurance about the purchase.

Customer buying behavior the companies study what induces individuals to

buy one product over.

Customer service - is everything a company does to satisfy its customers.

Exchange process - offers something of value in return for something else.

Form utility- occurs when consumer value converts raw materials and other

inputs into finished goods and services.

Human Resource Managers organize the data into a marketing plan.

Internal analysis will tell the business whether to limit itself to opportunities

where it already has strengths or to challenge itself to reach higher goals by

gaining new strengths.

Marketing - planning and executing the conception, pricing, promotion, and

distribution of ideas, goods, and services to create and maintain relationships

that satisfy individual and organizational objectives.

Markets share is the organization's portion of the total sales in a market.

Needs - represents the difference between a person's actual state and his or her

ideal state. This state is the basic motivation for purchasing.


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Possession utilityis consumer value created when someone takes ownership of

a product.

Product referred to services, people, causes, organizations, places, and events.

Time utilityadds consumer value by making a product available at a convenient

time. If a product is available in a convenient location, this is the consumer value

ofplace utility.

Transaction - is an exchange between parties.

Utility - is the power of a good or service to satisfy a human need. There are four

utilities: form, time, place, and possession.

Wants - are desirable in light of a person's experiences, culture, and personality.


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Sir, what is

marketing?

Marketing involves all decisions

related to determining a product's

characteristics, price, production

specifications, market-entry date,

distribution, promotion, and sales.

Thats interesting I

want to learned

more about Good! Ill teach more about

Marketing. Marketing Relation

ship, Fundamentals of

Marketing and many more.


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Needs, wants, and demands

Products and services

Values, satisfaction, and quality

Exchange, transaction, and relationship

Markets

Product concept - Stresses continuous product improvements, seeksquality, performance, and innovation and seldom successful as soleapproach in today's global market.

Selling concepts is the second fundamental marketing concept work in

a sellers' market, not a buyers' market and stresses the products offeredand is an Inside perspective.

Marketing concept determines the needs and wants of target markets

and deliver products and services that meet consumer needs and wantsmore efficiently and effectively than competitors due.

Relationship marketing is the focus on developing and maintaining

long-term relationships with customers, suppliers, and distributors formutual benefit. Relationship marketing is known as customer

relationship management (CRM) also.


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The internet has impacted the marketing field dramatically. It has changed how

we communicate with the customer and has benefits to both buyers and sellers.

Today's customers are well informed and demanding. The internet has made

more options and data available to the consumer, which has contributed to the

increasingly high expectations of the customer. These customers expect

companies to:

Understand wants and needs

Adapt to trends rapidly

Deliver products more conveniently and quickly

Provide quality service 24x7

Supply personalized options

Present accurate inventory

Price goods and services competitively

Long-term customers are particularly important to companies. The cost of

maintaining long-term customers is five times less than that of acquiring new

customers.

Enables 7x24 hour shoppingAllows additional customer

researchProvides more choices

Allows faster deliveryCreates more customer interaction

Facilitates competition

Builds relationships with customersAdditional distribution channel

Additional advertising medium

Expands customer base


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Customer loyaltyis scarce. Customers change products because:

Customers have many choicesCustomers can access more information

Competing products can be very similar

Time is scarce

E-tailers commonly offer many online support services including:

Self-help web pages

Toll-free phone support

Email

Online chat

Live support

Tutorials

Demos

User communities

The two types of buyers are the organizational buyers and the consumerbuyers.

Industrial/Commercial

Companies that buy tocreate their own

Reseller

Intermediaries like

wholesalers and retailers

Government

Federal, state, local

government agencies.


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The consumer buyer's decision-making process is predictable. The more

expensive a product is the more time they generally spend in this process.

1. Need recognition2. Information search3. Evaluation of alternatives4. Purchase5. Post-purchase evaluation

Culture - shared attitudes and beliefs

Social class - different social groups have different standards

Reference groups - those with common interests

Self-image - belief that "you are what you buy"

Situational factors - current priorities

Marketing research is the collection and analysis of information for making

marketing decisions. Companies research the market to learn of consumers'

changing needs. Popular tools of market research are:

Personal observations

Customer surveys

Questionnaires

Experiments

Telephone or personal interviews

Focus groups - focused interviews with 6-10 people

One-to-one marketing the shoppers share information with companies each

time the shoppers use frequent-shopper discount cards. Each time the shopper


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shares information, the discount coupons they receive at checkout become more

personalized.

1. Identifying customers2. Differentiating customers3. Interacting with customers4. Customizing the product

The purpose ofstrategic marketing planning is to help identify and create a

competitive advantage. A competitive advantage differentiates the product from

rivals and makes the product more appealing to target customers. Once the

strategic marketing planning is complete, HR managers organize the data into a

marketing plan. Strategic marketing planning has three actions:

1. Examine current market situation2. Assess opportunities and set objectives3. Develop market strategy to reach objectives

The first action in strategic marketing planning, investigating the current

market situation, has four tasks:

Review of performance

Evaluation of competition

Examination of internal strengths and weaknesses

Analysis of external environment

The external environment includes all influences beyond control of the product's

supporters. External environment factors include:

1. Economic conditions2. Natural environment


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3. Social and cultural trends4. Laws and regulations5. Technology

The second action in strategic marketing planning is to assess

opportunities and set objectives. Marketing classifies opportunities into four

types:

1. Market penetration - selling more of existing product in existing market2. Product development - creating new products for current markets3. Geographic expansion - Selling existing product in new markets4. Diversification - Creating new products for new markets

To develop the marketing strategy the marketer must make three crucial

decisions:

How to divide the market into segments and niches

Which target markets to choose and what position to establish in those

markets

How to develop a marketing mix as a pathway to markets

Amarket is the people or businesses that need or want a product, and have the

money to buy it. Market segmentation is a dividing a total market into

smaller, relatively homogeneous groups. Its objective is to group customers with

similar characteristics, behavior, and needs. Firms target each market segment

by offering products priced, distributed, and promoted differently. Further

segmentations are called micro segments or niche markets. Marketers use

these six factors to segment markets:


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Once marketers identify then segment the market, they can choose the target

markets. Marketers choose markets by examining the:

Size of market

Competition

Sales and profit potential

Compatibility with company resources and strengths

Costs

Growth potential

Risks

DemographicsStatistical analysis of a

populationSubdivide customers

according to age, sex,income, etc.

Recent studies showdemographics is a poor

behavior predictor

Geographic

Segmenting customers

according to geographiclocationCities, counties,

neighborhoods, states, orcountries can be the

division

Psychographics

Focuses on psychologicaltraits

Issues examined are brandloyalties, habits,

preferences, values, and

Geodemographics

Combines geographicaldata with demographic

data to develop profiles ofneighborhood segments

Forty neighborhood typesare identified uses ZIP

codes

Behavior

Categorization ofcustomers according to

their relationship with

products or response toproduct characteristicsPersonal surveys are

collected from newcustomers

UsageCommonly used in

internet sitesCategorizes by session

length, time per page,category concentration,


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Using promotion, product, distribution, and price to differentiate a good or

service from those of competitors in the mind of the prospective buyer is

positioning. Three popular strategies for reaching target markets are:

y Undifferentiated marketing - mass marketing ignores differencesamong buyers

y Differentiated marketing - sells a variety of products to several targetcustomers. Requires substantial resources

y Concentrated marketing - targets only one market. The best strategy iffunds are short

The marketing mix is the four key elements of marketing strategy: product,

price, distribution (place), and promotion - the four Ps.


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IDENTIFICATION

_________________1. It is represents the difference between a person's

actual state and his or her ideal state. This state is the basic motivation for

purchasing.

_________________2. It is involves all decisions related to determining a

product's characteristics, price, production specifications, market-entry date,

distribution, promotion, and sales.

_________________3. It is the second fundamental marketing concept.

Selling concepts work in a sellers' market, not a buyers' market.

_________________4. It is the collection and analysis of information for

making marketing decisions.

_________________5. It has impacted the marketing field dramatically.

_________________6. It is the power of a good or service to satisfy a human

need. There are four utilities: form, time, place, and possession.

_________________7. It sells a variety of products to several target

customers requires substantial resources.

_________________8. It divides a total market into smaller, relatively

homogeneous groups.

_________________9. It is everything a company does to satisfy its

customers.

________________ 10. It tells the business whether to limit itself to

opportunities where it already has strengths or to challenge itself to reach higher

goals by gaining new strengths.


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After you learned many things about Marketing, Lets now proceed to our

Activity

OBJECTIVE: This is an application in what you have learned, this your

chance to show your acting ability by applying your knowledge about

Marketing.Have fun!

OBJECTIVE: This Group Activity Entitled Lights, Camera Action is to

familiarize and to identify the fundamentals of Marketing Concepts as well

as the relationship of customer and owner of the business.

DIRECTIONS: The class will be divided into four groups. Each group

will make a scenario and dramatize it.

GROUP ONE: Product Concept

GROUP TWO: Selling Concept

GROUP THREE: Marketing Concept

GROUP FOUR: Relationship Concept


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1. Any exchange between parties is a:

A. None of the above B. Exchange process

C. Vote D. Transaction

2. This fundamental marketing concept stresses consumer needs and wants, andit seeks long-term profitability.

A. Marketing concept B. Relationship concept

C. Product concept D. Selling concept

3. In this market, supply exceeds demand.

A. None of the above B. Sellers market

C. Economic upturn D. Buyers market

4. This fundamental marketing concept stresses long-term customer

relationships.

A. Relationship concept B. Selling concept

C. Product concept D. Marketing concept

5. What does perception govern?

A. Market transactions B. Peoples wants


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C. Peoples needs D. Market availability

6. Marketers interview this group of 6-10 people to improve a product.

A. Permission marketing B. Focus group

C. Marketing relationship D. Reference group

7. This is the process of building, maintaining, and using customer computer files

to contact customers and transact business.

A. Marketing concept B. Focus group

C. Database marketing D. Market segmentation

8. Which of these does notinfluence the buyers decision process?

A. Perceived value B. Situational factors

C. Reference groups D. Self-image

9. This is a group with shared attitudes and beliefs.

A. Culture B. Self-image

C. Situational factor D. Market scope

10. Which is nota component of the decision-making process?

A. Need recognition B. Information search

C. Evaluation of alternatives D. None of the above

11. An external factor is:

A. Diversification B. Market penetration


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C. Product mix D. Federal regulation

12. Which is notone of the Four Ps in marketing?

A. Price B. Promotion

C. Presentation D. Products

13. This market segmentation focuses on issues like brand loyalties and values.

A. Usage B. Behavior

C. Demographics D. Psychographics

14. This is a small, relatively homogeneous group in the market.

A. Distribution segment B. Micro segment

C. Product line D. Market share

15. This marketing mix element includes the product itself, brand name, design,

packaging, and services.

A. Brand B. Marketing package

C. Advertising plan D. None of the above


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Marketing involves all decisions related to determining a product's

characteristics, price, production specifications, market-entry date, distribution,

promotion, and sales. Marketing also involves understanding customers' needs

and their buying behavior, creating customer awareness, providing customer

service, and maintaining relationships with customers after the sale. Customer

service is everything a company does to satisfy its customers.

Fundamental Marketing Concept

Product Concept

Selling Concept

Marketing Concept

Relationship Concept

Internets impact on the marketing function

Benefits to buyers

Benefits to Sellers.

Satisfying Customers

Servicing Customers

Learning about Customers

A. Customer buying behaviorB. Marketing ResearchC. Customer Databases


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D. Treating Customers individuallyPlanning Marketing Strategies

1.

Examining the current Marketing situation

Reviewing performance

Evaluating competition

Examining internal strengths and weaknesses

Analyzing the external environment

2. Developing Marketing StrategyDividing markets into segments

Choosing target markets

Positioning products

Developing the marketing mix


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www.wikipedia.org/wiki/Email

www.google.com

www.businessballs.com/meetings.htm

www.wikipedia.org/wiki/Meeting

www.wikipedia.org/wiki/Committee

www.smallbusinessnotes.com/operating/organizing/htmeet.html

www.wikipedia.org/wiki

www.travel-industry-dictionary.com/consulate.html


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1. D 1. B2. D 2. A3. D 3. B4. A 4. A5.

D5. A6. B 6. A

7. D 7. C8. C 8. A9. B 9. A10.C 10. D11.D 11. C12.D 12. C13.A 13. B14.D 14. B15. B 15. A

1. Needs2. Marketing3. Selling concept4. Marketing research5. Internet

6. Utility7. Differentiated marketing8. Market segmentation9. Customer service10. Internal analysis

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