ACTIVITY

February 17, 2022

Darauay, Shayra Janis

Maribbay, Mae Cielo
Ramirez, Kristyvee
Tumibay, Emille Lee
BSLM 3A

QUESTIONS:

1. What comes to your mind when you hear the word “MARKETING MANAGEMENT”?

Write inside the box as many words or sentences related to it.

Attracting potential Use of social media in

Product promotion
buyers advertising products

MARKETING Marketing concepts and

Handling of customers
MANAGEMENT strategies

Consumers’ needs Demand and supply Goods and services

2. What important roles does marketing play in our economy?

Marketing plays a crucial role for it promotes the businesses and the market on
which the economy depends. Financial success is what drives the economy into the force
in the society that it is now. Marketing paves the way for companies to set their foot on
the market, through advertising and such. Sales and profits are made when the market is
reached, thus contributing to the economy and rotating the resources around the
community.

3. Define marketing management in your own words.

 Marketing Management is the process and the system of putting a brand out there
in the market for it to be recognized by potential customers. It benefits the organization
greatly for it will open the doors to the target market and the profits that come along with
it. Marketing management must be done with precise calculation and observation of the
target market so that it attracts customers and create customer value satisfaction.

4. Explain the scope of marketing.

The scope of marketing helps us understand the extent of which we maintain our
business. In our previous semesters, we have been taught the basics of establishing a
business until it is up and running, but the maintenance of such is extrapolated via
Marketing Management.
The scope of marketing includes a thorough understanding of our goods or
services, familiarity with our existing customers, and knowing your target audience. This
means knowing the market place and scouting spaces and areas where your business can
be accessible or have the potential to flourish.
Furthermore, it also studies how the company navigates its way towards the
marketplace. These marketing concepts are in-charged with understanding the customers’
perception or trajectory of interest, in terms of palatability of both the business, and our
goods or services.

5. Give some fundamental marketing concepts.

• Production Concept
• Product Concept
• Selling Concept
• Marketing Concept
• Holistic Marketing Concept
• Societal Concept
• Exchange Concept

6. Discuss the different task necessary for successful marketing management.

1. Developing Marketing Strategies and Plans
Firstly, identify and plan the best marketing strategies and best activities to
market the business’ products or services, and the organization’s potential long-
run opportunities, given its market experience and core competencies.
2. Capturing Market Insights
Research is essential for the marketing managements to do, to assess their
strength in the business competition and their impact to the potential consumers.
Thus, the organization should monitor its marketing environment, continually
assess market potential and competition, and forecast demand.
3. Connecting with Customers
To connect or have a healthy relationship with the customers, the management
must think of appropriate strategies to be applied to develop strong, profitable,
long-term relationships with the customers. Polite and fast customer service is an
advantage for the business as it connects the marketer and the potential buyer
immediately.
 4. Building Strong Brands
In order to create a strong brand, the organization must focus on those it can best
serve among the different market segment. It is not necessary that is has to cater
all because focusing on the main can actually help simplify the marketing
strategy.
5. Shaping the Market Offerings
The firm should always seek the best quality, design, features, and packaging for
its products because it is what the consumers receive and what they expect in the
first place. The quality of product will reflect the feedback and future demands of
consumers.
6. Delivering Value
This tasks refers to how the firm could best deliver or promote the value of its
products to the consumers through the use or marketing tools and different
advertising platforms.
7. Communicating Value
Communication is important in marketing for the products to successfully attract
the buyers, thus, each seller/marketer needs to effectively communicate to the
target market about the value that the products can offer.
8. Creating Successful Long-Term Growth
The marketing strategy should consider the changing global opportunities and
challenges as well as social responsibility and ethics, for the future and growth of
the business, and to be able to adapt to any change while still complying with the
necessary rules and regulations.

7. Compare and contrast the Traditional marketing mix 4Ps and Modern Marketing
Management 4Ps. In your opinion which is better the Traditional Marketing Mix
(Product, Place, Promotion and Price) or the Modern Marketing Management Mix
(People, Processes, Programs and Performance)? Which do you prefer the Traditional
or the Modern Marketing Mix? Why? Justify your answer.

The Traditional Marketing Mix, has a more goods/service centered system.

Product, the first element, is primarily concerned with the quality and overall
performance of the item from its packaging up to its services before and after purchase.
Price, being the second element, refers to the retails prices of the item/service depending
on its profitability, payment options, and covering the expenses that it took to
manufacture or execute it. Promotion, refers to the way it is marketed and its strategic
profile to the masses. Lastly, Place talks about the logistics of the operation of your
item/service from it being manufactures or people being trained, location of your
company in regards to the place having demand for your item/service.

The Modern Marketing Mix on the other hand, has a more customer-company
relationship centered system. While the first marketing mix focuses on the objective and
most important element of running a profit-oriented business, we feel like these
traditional marketing mix as already expected and must be established by default.
Therefore, in terms of improvement, there is much more room to discuss the operation
 and marketing potential of a company without being limited to what is already given and
established when running a business in general.
We prefer the Modern Marketing Mix for the following reasons. People, being its
first element, understands not only the customers’ perception and relationship with the
company, but it also tackles the operating workforce of the business. This means hiring
people that are fit for the job and share the same visions as the company. Processes, it’s
second element, covers the planning part of marketing, this means looking beyond the
current releases but also creating a comprehensive plan, mixed with the right people
generates better insights, breakthrough products and services, and marketing activities
that will ultimately lead to a better business management. Programs, are focused on the
consumer related activities, this allows the company to interact with their customers and
make their product more marketable. This means understanding how to navigate the
current market setting and being able to adapt to it when it changes while fulfilling the
company’s core objectives. Lastly, Performance, selling a good product or providing
competent service may help generate profit and gain clients, but in a very competitive
market place, someone will always establish better performance than the one you
provide. Performance helps gain customer retention, this is where the holistic side of the
marketing management goes into play, this means fulfilling your corporate social
responsibilities, ethical, legal, and community related advocacies, etc.

8. Discuss the five different concepts/orientations which a company takes towards the
marketplace. Illustrate by giving examples.

a. Production Concept - This concept is focused on operations and it assumes that

customers will be more attracted to cheaper and readily available products.
An example is the Costco Companies, which offer extremely low prices on goods that are
readily available. Purchasing products from their stores also allow consumers to take
advantage of bulk deals.

b. Product Concept - It is the opposite of production concept, as it assumes that price and
availability don’t really affect customer buying habits because people generally prefer
quality, innovation, and performance.
An example is Apple, which products are perceived to be very high quality with
innovative features and great performance. Customers buy Apple products because of the
quality and performance, regardless of the price.

c. Selling Concept - The selling concept is focused on aggressively selling and marketing
its product because it is not really a necessity. Its purpose is to aggressively sell more
products to more people, to make more profits, without regards to the customer’s needs
or the product quality.
An example is Coke, which is widely known as unhealthy and lacks nutrients, that’s why
Coca-Cola aggressively promotes it with a lot of advertisements.
 d. Marketing Concept - It is referred as the “customer-first approach”, as it offers better
value to customers than its competitors. This concept puts the customers at both the
beginning and the end of the business cycle, such as understanding and meeting their
needs, because it believes that it is the key to achieving organizational goals.
Glossier is an example marketing concept, where it introduced a line of skincare and
makeup products that nourish the skin, easy to use, and promote individualism and
personal expression, after discovering that many women are unhappy with the way that
makeup affects their skin health, and that women are tired with being told what makeup
products to use.

e. Holistic Marketing Concept - It is a concept that considers the whole of a business and
all the different marketing channels as a system because they are interdependent. It
recognizes all the consumers, employees, other companies, and the society as a whole
because in marketing, everything matters.
Holistic marketing concept is used by Samsung, wherein their products are developed
based on the costumers’ needs, the showrooms are branded in the proper manner, and
their customer service is polite and fast.

In your opinion with our present situation where we are experiencing the COVID 19
pandemic, which is the best concept applicable to our present situation? Why?

In our current pandemic situation wherein there is a rise in business opportunities

with increased market competition, the best concept applicable is the marketing concept.

The marketing concept is consumer-centered which always seeks to understand

the market first to know the right products for the consumers. This concept also takes into
consideration the existing competition to find out the best communication and promotion
strategies that would beat the other competitors.

In our situation, there are already plenty of available products but consumers
choose the best among the competition according to how they are being marketed. Hence,
the marketing concept is the best strategy applicable for sellers to attract customers.

9. Does marketing shape consumer needs? Or does marketing merely reflect the needs and
wants of consumers? Justify your answer.
The main goal of marketing is to meet human and social needs profitably.
Marketers depend on the current goods and services that would satisfy the consumers,
hence, marketing merely reflects the needs and wants of the consumers.

In order for businesses to determine the products or services that they could sell,
they identify first the kind of target market they aim to attract. Sellers look at the needs,
demands, environment, purchasing power and other things that could affect the ability
and desire of consumers to buy. After knowing all these, sellers can now properly market
the goods and services according to the way that would satisfy the consumers, reflecting
their needs and wants.