AN OVERVIEW OF

CONTEMPORARY
MARKETING

Marketing, a matter of common sense

and more; the AMA definition
Doing
better than
best is the
essence of
progress.
And this
holds for
marketing
as well.

Marketing definition by
American Marketing Association:
Marketing is the process of
planning and executing the
conception, pricing, promotion,
distribution of ideas, goods and
services to create exchanges
that satisfy individual and
organizational goals.

The definition views

marketing as an exchange
process or discipline that
involves strategies,
activities, positions, and
institutions.

Contemporary Marketing

It is usually associated with forprofit business organizations,

like San Miguel Beer, Jollibee,
Mang Inasal, Unilab, Nokia,
Smart, Toyota, Honda, BPI,
Metrobank, and Robinsons.
But it is also used by
individuals, educational
institutions, national parks,
governments, sports
organizations.

By Nonprofit organizations

Marketing Concept

The Marketing Concept is

a business philosophy, which
holds that the key to
achieving organizational
goals consists of determining
the needs and wants of
target markets and
delivering the desired
satisfactions more effectively
and efficiently than
competitors do.

Marketing Strategy

Marketing Strategy

A Marketing Strategy
consists of selecting a
segment of the market as the
companys target market and
designing the proper mix of
product/service, price,
promotion, and distribution
system to meet the want and
needs of the consumers
within the target market.

Marketing Research

Determining the needs and wants of the

market may sound easy and simple, but
consider some of the questions that
confront marketers as they design
marketing strategies.
Marketers need information in order to
develop, implement, and evaluate
strategies.

Common types of marketing research

are:
1)

2)

3)

4)

Market research (about the

market, size, growth rate,
competition, demographics,);
Sales research (where the sales
are coming from, shares of
competition);
Product research (characteristics
of the product that consumers
like); and
Advertising research (reactions
of consumers to the firms
communications/advertising
program).

Emerging Marketing Issues, Terms,

Trends, and Business Practices
During the 2004 International
Marketing Convention in Manila, with
the theme Marketing Renaissance,
Hermawan Kartajaya, President of the
World Marketing Association, talked
about spiritual quotient, which aims to
put heart and soul in the way big
businesses must treat their customers.
This is one new term and definitely one
challenging issues to the companies
that have been heretofore, very much
focused only on sales and profits.

History of Marketing

Marketing is the paradox, which is not known

to many. It is the worlds oldest professions,
but at the same time he worlds relatively
newest discipline of learning.
Many so called marketing activities then
were referred as to as either trade or
commerce or distribution.

Some Requirements of Marketing

For marketing to happen, at least four factors are
needed:

Two or more parties (either persons or organizations)

with unsatisfied needs;
A desire and ability on their part to be satisfied;
An opportunity for the parties to communicate; and
Something of value (idea, goods, or service) to exchange

Needs and Wants

NEEDS

Occurs when a person feels

physiologically deprived of
basic necessities like food,
clothing, and shelter.
Hence, technically,
marketers do not have to
create needs because these
are physiologically basic.

WANTS

On the other hand, is felt need

that is shaped by a persons
knowledge, culture, and
personality.
Wants are forms of human needs
take as shaped by a persons
culture and individuality.
Other authors define want as
processed needs.

What is a Market?

A market is not just a place or a

physical structure. More significantly,
market means (1) people (2) with the
desire and (3) with the ability to buy a
specific product.

Segment or Target Market

This pertains to one or more specific groups of

potentials consumers toward which an
organization focuses its marketing program.
Target market pertains to the segment of the
marketing manager has identified to participate
in: targeting follows after market segmentation.
Market segmentation refers to the homogenous
grouping or subdivision of the market, which
may be demographic, geographic,
psychographic.

Four Ps

Product. A good service, or idea to satisfy

the needs of consumer;
Price. What is exchange for the product;
Promotion. A means of communication
between the two parties, seller and buyer;
Place. A means of getting the product into
the consumers possession.

Marketing Mix

These are the controllable factors in marketing

being managed by the marketing manager, or
somebody in the organization orchestrating the
marketing functions.
Outside the marketing mix are the
environmental factors, which are uncontrollable,
such as social, economic, technological,
competitive, and political or regulatory factors.

The Marketing Plan

This is a plan that integrates
the marketing mix to
provide a good, service, or
idea to prospective buyers.
The plan basically answers
three questions1) Where are we now?;
2) Where do we want to go?;
and
3) How do we get there?

Some basic parts of a full-blown marketing program

include1)
2)

3)

4)

5)
6)

Executive summary;
Description of the market, which covers competition and the
environmental factors;
The product/service, its features, benefits, and competitive
edge;
strategies and tactics which cover the four Ps, specifically the
marketing communications next and the marketing channels;
Sales for cost, and
Profit and loss statement

A Marketing Briefs
On the other hand is an abbreviated marketing plan.
Typically, it is one or two-page sheet of bond
paper, which contains1) Description of the product/service;
2) Target market segments, size, growth, and
competitors;
3) Marketing mix strategy; and
4) Financial forecast

Evolution of Marketing
Concepts
Historians classify the stages of marketing
concept evolution into five
1) Production concept
2) Sales concept
3) Marketing concept
4) Market orientations
5) Societal concepts

A more simplified explanation of the marketing concepts or

viewpoints is to look at marketing as an organizational
philosophy as an societal process, as follows:

A production philosophy exists when an

organization emphasizes the production function.
A selling philosophy exists in the company that puts
premium on the selling function, the assumption
being that any product or service can be sold as
long as enough selling effort is put behind it.
A marketing philosophy suggests that the company
focuses on satisfying he needs of customers.

Ethics and Social Responsibility

CSR and Electronic Waste

Development Has its Waste
A Paint that is Health-conscious

Click icon to add picture

THE END