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PRINCIPLES OF MARKETING

LESSON 1:
MARKETING AND ITS TRADITIONAL
APPROACHES
MARKETING
To a layman
Marketing is about selling product
To a Marketing Professional
-Marketing is a PROCESS
-Marketing as DISCIPLINE or a field of management.
-Marketing is also about COMMUNICATION.
PETER DRUCKER

• The aim of marketing is to “make selling superfluous “


( Peter Drucker 1973)
• Marketing is like an iceberg
MARKETING

• Is not out to fool customers, to cheat them of their money or to sell them
something that they do not want.
• GIVE AND TAKE RELATIONSHIP that lies at the heart of MARKETING.
• “Marketing is about meeting needs profitably “ (Kotler and Keller 2006)
TRADITIONAL APPROACHES TO MARKETING

• Is a marketing strategy a company uses to determine if it can produce


available product consumers want or need, whether the company can produce
enough products to fill the need and the marketing method by which the need
can be filled.
SEVERAL DISTINCT TRADITIONAL APPROACHES

• PRODUCTION CONCEPT
• Focuses on the internal potentials of the company and not based on the desires and
needs of the market.

• SALES CONCEPT
- refers to the idea that people will buy more goods and services through personal
selling and advertising done aggressively to push them in the market.
CONTEMPORARY APPROACHES
- are centered on the customer relationships, and the well being of society.
1. THE MARKETING CONCEPT
- considers the needs of both the customer and the product offered.
2. THE RELATIONSHIP MARKETING CONCEPT
- believes that all marketing activities are for the purpose of establishing
,maintaining, and strengthening meaningful long- term relationships with customers..
3. THE SOCIETAL MARKETING CONCEPT
- considerations that protect the customers well-being and interests, as well as
the interests of the environment and society.
CONTEMPORARY APPROACH IN MAKING
MARKETING STRATEGY:

1. Identify key competitors


2. Identify your typical target audience
3. Present the concept, the product, and what will set it
apart from others.
ACTIVITY 1 THE RADIO STATION
Your group is hired to rebrand, re-launch, and to create concept for a new FM radio
station that is meant to compete with other stations in the market.
You are task to do the following:
1. Identify key competitors that you would be going against.
2. Identify who your typical target audience will be.
3. Present your station concept, complete with station ID (the radio slogan) and what will
set it apart from other stations.
Presentation time: an estimate of 5 to 10 minutes per group.
CRITERIA

CRITERIA DETAILS TOTAL PTS. YOUR PTS.


Creativity How innovative is the product 20
proposal?
Differentiation How different is the proposed station 15
from identified competitors?
Market Understanding How well did the group understand 15
the profile of its target audience?
TOTAL 50