MARKETING

6.53
MANAGEMENT

FERDIE ALEXIS G. MEDINA,

LPT, MBA
WEEK 3

Introduction to
Marketing
Management:

Marketing Process

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OBJECTIVES
• Describe the
marketing mix
• Explain how marketing
makes use of different
mechanisms to make
businesses work
• Describe how
marketing and the
entire organization use
the marketing plan
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 Marketing Process

• Involves strategies for generating value for

consumers to meet their needs

• Customers and businesses engage in a continuous

cycle of actions and responses in an effort to add
value and meet customer needs

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 Marketing Process

1. Identify the company’s mission statement

• A company’s line of business, reason for being, and

purpose are all described in the mission statement
• Every business needs to have a clear statement that
inspires interest in what it does and encourages
people to join the team
• Often developed by the executive members of the
company or the members of the board.

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 Marketing Process

1. Identify the company’s mission statement

• What is the purpose of your business?

• What is the goal of your company?
• What are your company strategies?
• What image are you building for your own company?
• How does your mission statement make your plan
clearer?

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 Marketing Process

1. Identify the company’s mission statement

Significance

• To understand the purpose of the business

• To set the standards within the organization
• To create plans that are strategic in nature
• To reassure and uplift employee morale; and
• To inspires customers

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 Marketing Process
2. Analyze the situation
• Situation analysis is performed for the purpose of:
- Understanding the company’s capacities in
the current market
- Evaluating the current market environment
where the business operates; and
- Acknowledging strategic marketing decisions
• Finding opportunities to satisfy unmet
customer needs is based on analyzing the
different situations faced by the organization.

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 Marketing Process
3. Create the marketing strategy

• Business describes its target market and the added

value of its products and services
• Consists of the company’s marketing mix (4Ps:
Product, Price, Place, and Promotion), a collection of
advertising resources used to carry out its marketing
plan

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 Marketing Process
4. Establish the Marketing Mix

a. Identifying the target market

Geography – where individuals reside
Demographics – Age, gender, occupations, earnings,
and
marital status are all
considered
Behavioral Factors – are prompted by behavioral
economics to consider
consumer
decision-making, pricing
sensitivity,
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 Marketing Process
4. Establish the Marketing Mix

a. Identifying the target market

- Some companies may have various target markets

for their items. It can be challenging to expand the market to
appeal to the majority of audiences, especially while your
marketing strategy is still being developed. You must,
therefore, limit your target market at this moment.
- An example is a brand of high-end laptops used
which may not automatically appeal to students, but may
appeal to those working professionals who are in the corporate
world.
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 Marketing Process
4. Establish the Marketing Mix

b. Setting quantifiable goals

- The business must have realistic goals for its

operations. Such quantifiable goals include reaching a 50%
growth in the acquisition of new clients, partnering with a new
retailer as a distributor of products, and tapping on a new
niche of clients as part of the business’s new target market
-the objectives should include brief, clear
information that is sufficiently detailed to be understood

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 Marketing Process
4. Establish the Marketing Mix

c. Setting a financial budget for marketing

- To adequately support the business’s marketing

budget, it must set aside the appropriate budget for it. The
company’s budget should include for expenses such as
staffing, public relations, branding, and advertising.
Additionally, the budget needs to be achievable for the
business.
- A start-up may allocate a smaller budget
depending on their initial capital. However, for more establish
brands, it may account to millions of pesos as part of their
marketing budget.
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 Marketing Process

5. Provide Implementation and Monitoring

- Traditionally, businesses have worked with several

agencies to produce ideas for publicity, sales promotion, and
advertising. However, this frequently leads to a lack of
collaboration among different promotion mix components.
- When the mixture’s components are not working
together cohesively, consumers may receive a conflicting
message.
- the justification has given rise to integrated marketing
communications

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 Marketing Process

- The importance of the marketing process is

highlighted by the fact that a company’s success
frequently depends on having a strong
reputation. Your business or product’s brand
recognition is increased through marketing.
Once more, when the company’s reputation rises, the
company should grow and its sales should rise.

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Developing an Effective Marketing
Mix

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 Top trending products to sell online in 2024
Here are the top 20 most popular products sold by US Shopify
merchants:
1.Vitamins and supplements
2.Skin care
3.Makeup
4.Coats and jackets
5.Bicycles
6.Art and crafting materials
7.Drinkware
8.Perfume and cologne
9.Wine
10.Socks
11.Bedsheets
12.Posters and artwork
13.Candles
14.Bath and body
15.Cookware
16.Nail care
17.Underwear
18.Motor vehicle parts
19.Mobile phone accessories
20.Blankets
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This Photo by Unknown Author is licensed under CC BY
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I. New Product Pricing Strategies
1. Price Skimming
2. Penetration
II. Product Mix Pricing Strategies
1. Product Line Pricing
2. Optional Product Pricing
3. Captive Product Pricing
4. By Product Pricing
5. Bundle Pricing
III. Price Adjustment Strategies
1. Premium Pricing
2. Economy Pricing
3. Psychology Pricing
A. Discount Pricing
B. Differential Pricing
C. Price Ending
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IV. Segmented Pricing
1. Customer Segment Pricing
2. Location Pricing
3. Time Pricing
V. Discount and Allowance Pricing
Strategies
1. Discounts
A. Cash Discount
B. Quantity Discount
C. Trade Discount
D. Seasonal Discount
2. Allowances
A. Trade-in Allowances
B . Promotional Allowances
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VI. Promotional Pricing
VII. Geographical Pricing
1. FOB Pricing
2. Uniform Delivered Pricing
3. Zone Pricing
4. Basing – Point Pricing
5. Freight – Absorption Pricing
VIII. Dynamic Pricing

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Jollibee Commercial (Happy
Father’s Day)

https://www.youtube.com/wat
ch?v=RcMi80qKiNY

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Slogans & Taglines

•Slogans: A slogan is more advertising-

focused than taglines, encapsulating a
brand’s mission and raising awareness
about the overall brand.

•Taglines: Taglines narrow in on a

particular aspect of the brand rather than
telling what a company does.
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How to write a brand slogan

Writing a brand slogan is easier said than done, but don’t

worry! We’ve got you covered with a few helpful tips on how to
write an effective brand slogan:

•Identify your audience: Your brand slogan should speak to

your audience. Before writing your slogan,
identify your target audience’s values and needs so you can
create a slogan that effectively resonates with them.

•Outline your mission: The goal of a slogan is to

demonstrate your brand’s core values and mission. Before
writing, outline your brand’s mission to ensure you capture
that in your slogan drafts. 41
•Keep it short and simple: Great brand slogans convey a lot
within very few words. Avoid complexity and keep it simple.
When brainstorming, aim for roughly eight words or less.

•Use power words: Your slogan needs to make an impact,

and the best way to do that is to use power words and phrases
that invoke emotion and move people to action.

•When in doubt, test it out: During the brainstorming

process, you’ll no doubt end up with a few different options for
slogans. Test them on your family, friends, and customers
through informal polls to understand what appeals to them
more. With their feedback, you can further tweak your slogan
and improve it.
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Nike – “Just Do It.”
Apple – “Think Different.”
McDonald’s – “I’m Lovin’ It”
KFC – “It’s Finger Lickin’ Good”
Burger King – “Have It Your Way”
Subway – “Eat Fresh”
Dunkin’ – “America Runs on Dunkin’”
Coca-Cola – “Open Happiness”
Rice Krispies – “Snap! Crackle! Pop!”
M&M’s – “Melts in Your Mouth, Not in Your Hands”
Lays – “Betcha Can’t Eat Just One.”
Walmart – “Save Money. Live Better.”
Target – “Expect More. Pay Less.“
Levi’s – “Quality Never Goes Out of Style”
Mercedes-Benz – “The Best or Nothing” 43
Ford – “Built to Last”
BMW – “The Ultimate Driving Machine”
Toyota – “Let’s Go Places”
L’Oréal – “Because You’re Worth It.”
Maybelline – “Maybe she’s born with it. Maybe it’s Maybelline.”
De Beers – “A Diamond Is Forever”
Bounty – “The Quicker Picker Upper”
MasterCard – “There are some things money can’t buy. For
everything else, there’s MasterCard.”
Allstate – “You’re In Good Hands.”
The New York Times – “All the News That’s Fit to Print”
Disney – “The Happiest Place on Earth”
FedEx – “When it Absolutely, Positively Has to Be There
Overnight”
Dollar Shave Club – “Shave Time. Shave Money.”
Airbnb – “Belong Anywhere”
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 Public
Relations
LEAST
1. Listen
2. Empathy
3. Apologize
4. Solve
5. Thank
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 5 Basic Types of Customers

1. Loyal Customers

- 20 % of the customer base but actually

drives majority of the sales revenues

- bearers of WOM (Word of Mouth)

- likely to recommend the company’s

service products
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 5 Basic Types of Customers

2. Impulse customers

- best type to do suggestive selling

- second to loyal customers when it comes to
attractiveness in the market
- receptive to recommendations
- do not have a shopping list in mind and do
shopping instinctively
- similar to loyal customers, it is also important to
involve these customers because what they say also
matters in generating more revenue. 53
 5 Basic Types of Customers

3. Discount Customer

- affects a company’s inventory turnover

- contributory to a company’s cash flow

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 5 Basic Types of Customers

4. Need – based Customer

- they buy for a specific reason and occasion, and

because of this, it may be difficult to convince them to
upsell.
- avoid any upselling
- immediately leave after they are done getting
what they need
- easily drawn to other businesses, much more if
the price is cheaper and the alternative product can also
serve its purpose 55
 5 Basic Types of Customers
5. Wandering Customers

- generate the largest amount of traffic as they

have no specific need or desire in mind but yield the
smallest percentage in sales revenue.
- enjoys social interaction while shopping
- spending a lot of time trying to please this
segment can draw away other segments
- note that this segment still provides insightful
information about the products and can therefore
contribute to the feedback mechanism of the company.
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Examples of Bad Packaging:

https://99designs.com/blog/pa
ckaging-label/bad-packaging-d
esign/

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 BASIC MANAGEMENT FUNCTIONS

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 THANK YOU

:)

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References:

Marketing Management (B. Abantao)

ghttps://www.jollibee.com.ph
https://businessmodelanalyst.com
https://valmikrao.medium.com
https://www.bobstanke.com
https://surveysparrow.com
https://99designs.com
https://www.shopify.com
webfx.com/blog
https://www.solopress.com
https://www.frontify.com/
https://www.helpscout.com/
https://venngage.com 72