Business Marketing for
Senior High School
Students
LESSON 1: MARKETING PRINCIPLES AND STRATEGIES
Everyone is fortunate to have marketing everywhere. It is in Every four
corners of the house, in the offices, in malls, in school and the like. It is part
of everyone9s life every time, any time and all the time. One can see and touch
all products and experience the services created by the marketers.
Definition:
Business Marketing is a marketing practice of individuals or organizations.
It allows them to sell products or services to other companies or organizations
that resell them, use them in their products or services or use them to support
their works. It is a way to promote business and improve profit too.
Marketing has a vital role in everyone9s living. As consumer of goods and
services people participate in the marketing process. Through better
understanding of marketing, everyone could turn into a well-informed
consumer.
Marketing has two features which are:
1. It is a philosophy, an attitude, a perspective and a management
orientation that emphasizes customer satisfaction.
2. It is an organization function and a set of processes utilized to put into
practice this philosophy.
Marketing is the activity, set of institutions, and processes for creating,
communication, delivering and exchanging offerings that have value for
customers, clients, partners, and society at large (American Marketing
Association).
Several Basic Components underlying marketing:
1. Needs- human need is a state of felt deprivation.
a. Basic, physical needs for food, clothing, warmth, and safety.
b. Social needs for belonging and affection
c. Individual needs for knowledge and self-expression.
2. Wants- a human want is the form that a human need takes as shaped by
culture, individual personality and social and environmental forces.
3. Demand- are human wants that are backed by buying power.
4. Exchange-marketing happens when a buyer and a seller exchange
something of value.
5. Market-compose of people with both desire and ability and desire to buy a
specific product/service.
THE SCOPE OF MARKETING
1. Goods-Physical goods comprise the volume of most countries production
and marketing effort. In developing nations like this country, goods
particularly food, commodities, clothing and housing are the stronghold of the
economy.
2. Services-as economies progress, a growing proportion of their activities are
concentrated on the production of services.
3. Experiences-Through organizing a number of services and goods, one can
generate stage, and market experiences.
4. Events-Marketer endorses time-based events, such as the Pacquiao-
Bradley fight, trade shows, sports events, and artistic performances.
5. Persons-Celebrity marketing has turn into main and popular business.
Artists, musicians, CEO, physicians, high profile lawyers and financiers,
politicians and other professionals draw help from celebrity marketers.
6. Places-Cities, states, region and nations battle to magnetize tourists,
factories, company headquarters, and new residents. New marketers consist
of economic development specialist, real estate agents, commercial banks,
local business associations, and advertising and public relations agencies.
7. Properties-Properties are intangible rights of ownership of either real
property (real estate) or financial property (stocks and bonds). Properties are
purchase and sold which requires a marketing effort by real estate agents and
investment companies and bank.
8. Organizations-organization aggressively labor to create a strong, positive
image in the mind of their publics.
9. Information-the production, packaging and distribution of information is
one of society9s chief industries. Schools and universities; publishers of
encyclopedia, nonfiction books and specialized magazines ; makers of CD9s;
and Internet Web sites are among the marketers of information.
10. Ideas-Each market offering has a fundamental idea at its core.
TRADITIONAL APPROACHES TO MARKETING
Traditional Concept Marketing is a marketing strategy a company uses to
determine if it can produce a viable product consumer want or need, whether
the company can produce enough products to fill the need, and marketing
method by which the need can be filled. There are several distinct traditional
approaches that organizations have experienced in life of their firms.
1. Production Concept- focuses on the internal potentials of the company
and not based on the desires and needs of the market. In situation like when
competition is weak or when demand goes beyond supply, a production –
focused company can survive and even flourish.
2. 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. Failure to understand the needs and wants of customer
is one of the risks of this concept.
3. Marketing Concept- is a philosophy which states that organization must
try hard to find out and satisfy the needs and wants of consumers while at
the same time accomplishing the organization goals.
4. Relationship Concept- Relationship marketing is an approach that
centers on maintaining and improving value-added long-term relationship
with current customers, distributors, dealers and suppliers.
5. Societal Marketing Concept – views that organizations must satisfy the
needs of consumers in a manner that gives for society 8s benefit.
