PRINCIPLES OF MARKETING

Learning Partner

Mr. Mark Anthony D. Religioso

 GENERAL INSTRUCTIONS
This module contains all the lessons for the course Entrepreneurship. Every lesson
consists of 5 different parts called the 5 Es, they are: Engagement, Exploration,
Explanation, Extension and Evaluation.

In the engagement part lies an activity wherein we are

introducing you what the topic is all about or at least giving you
hint in an interesting manner.

The second part is the exploration. In this part, we will now indulge
to the content of our lesson, it can be compared to the discussion
phase in the traditional classroom setting, we will know the what,
where, whys and hows of the lesson.

The next part is the explanation. We prepared questions for

you to deeply understand the lesson. With the help of the
exploration checkpoint, you can easily explain the ideas given
in the lesson. This will also help us to see whether you can
provide additional understanding to the topic given. So be
ready to explain what you have learned!

The fourth E is extension. In this part, there is a worksheet

wherein we are now expanding and elaborating the complexity
of the idea we obtained from the exploration and explanation!
We are nearing to the end of the lesson whenever we are doing
the extension part! So, don't give up now!

Lastly, the evaluation part, this portion of the lesson will now
help us to assess if the other parts of the module helped
students in gaining the necessary information that is needed to
be obtained. These are like the quizzes and tests that we are
doing in the traditional classroom. This will show whether you
truly understand everything so please do not cheat and do
your best to answer.
 Engagement Exploration Explanation Extension Evaluation

Remember, the module must be returned every 2

weeks for us to assess and check all of the activities.
So, it is a must to finish everything on the given
deadlines. Good luck and enjoy reading and
understanding PRINCIPLES OF MARKETING!
 CHAPTER 1
Marketing Principles and Strategies

Learning Objectives
At the end of the lesson, you should be able to:
1. Define and understand marketing;
2. Discuss the goals of marketing.

Overview
According to Ilano (2019), among the different business disciplines, marketing
may have the distinction of being the most nebulous because it seems to have no
distinct boundaries unlike finance (all about the money), human resource management
(realms of people, relationships and human behavior) and operations management
seems to focus on ensuring the firm’s processes run smoothly and predictably.

https://www.freepik.com/free-photo/hands-holding-up-colorful-letters-forming-word-marketing_2980962.htm

The reason for this is that marketing, by its nature, should ideally be understood
and practiced by everyone in an enterprise, regardless of their expertise, field of
discipline, or occupation. It may take a village to raise a child, but it takes the entire
organization to truly delight a customer these days. Only by letting everyone in on the
principles of marketing can a firm truly get to the end goal of building customer
relationships with minimal friction from within
 ENGAGEMENT
Let us find out what is marketing by giving each letter a word that is related
to marketing. M is already done for you.

M - arket
A-
R-
K-
E-
T-
I-
N-
G–
GOOD JOB!
 EXPLORATION

Let us understand what is marketing by reviewing this different meaning given:

MARKETING
According to Twin (2020), Marketing as a discipline involves all the actions a company
undertakes to draw in customers and maintain relationships with them. Networking with
potential or past clients is part of the work too, and may include writing thank you
emails, playing golf with prospective clients, returning calls and emails quickly, and
meeting with clients for coffee or a meal.
While based on the American Marketing Association (2017), Marketing is the activity,
set of institutions, and processes for creating, communicating, delivering, and
exchanging offerings that have value for customers, clients, partners, and society at
large
And Lastly, as what the famous American Marketer, Philip Kotler defined marketing as
“to create, communicate and deliver value at a target market for a price.”
What is the key take away with these definitions? I can say that the above definition
wants to tell us that there is a give and take relationship that lies in the heart of
marketing. Marketer seek to provide valuable products and services to customers. In
return, they also need to benefit from it. Of course, this generally happens through the
revenues that companies receive from customers.
GOALS OF MARKETING
The goals of marketing can be summarized as follows:
1. Understand the market and its consumers, and satisfy their changing needs and
wants.
2. Introduce and innovate products and services that improve human condition and
the quality of life
3. Design and implement effective customer- driven marketing strategies.
4. Develop marketing programs that deliver superior value to consumers
5. Build and maintain mutually beneficial and profitable customer relationships
6. Capture customer value to create profits
7. Promote value transactions with full regard to society’s wellbeing.
THE MARKETING PROCESS

THE SITUATION ANALYSIS MARKETING STRATEGY

FORMULATION
• Microenvironment
• Macroenvironment • Market Segmentation
• The Market • Target Market Selection
• Customers • Value Proposition
• Competition • Product Positioning
• Strengths, weaknesses,
opportunities and threats

MARKETING MIX DECISIONS

IMPLEMENTATION AND CONTROL • Product
• Implementation • Price
• Monitoring • Place
• Marketing Mix Adjustment • Promotion

Prior to the marketing of specific products and/or services, marketing companies

conduct a thorough analysis of the external environment, the market, its competitors
and customers, and an incisive audit of its internal operating characteristics. This is
followed by the formulation of relevant marketing strategies coupled with a calibrated
response using the elements of marketing (commonly known as 4P’s). As soon the
marketing strategy is implemented, regular monitoring takes place in order to identify
deviations and, if necessary, make adjustments to any or all elements of the marketing
mix.
 EXPLANATION

Lesson 1: Marketing Principles and Goals

Name: Score:
Section: Date:

Answer the following questions based on your own understanding.

1. Marketing involves, among others, “the delivery of value to consumers. “However,

the value of a consumer places on a particular product or service is subjective. If
you are a marketer, how can you increase your customer’s assessment of your
product/service? Use a product of your choice as an example.
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2. A company makes a pair of shoes that can last for more than five years. Is this
an advantage or a disadvantage for its customers? What about for the shoe
manufacturer? What do you think? Why?
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 EVALUATION

Lesson 1: Marketing Principles and Goals

Name: Score:
Section: Date:

Knowing what you know by now…

1. What kinds of quality do famous marketing entity generate? For instance,

imagine Starbucks coffee shop. What are the detailed elements that
communicate messages to the buyer and what are those messages?
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2. What is your favorite commercial or advertisement that you remembered? What

is the company? Discuss why that is your favorite advertisement.

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 Lesson 2
Traditional and Contemporary Approaches to Marketing

Learning Objectives
At the end of the lesson, you should be able to:
1. Describe the traditional approaches to marketing;
2. Identify and explain contemporary marketing approaches

Overview

https://99designs.com/blog/marketing-advertising/digital-marketing-vs-traditional-marketing/

The only permanent thing in this world is change, meaning that also in marketing,
we will understand the changes it did from the start up until now. Let us find out the
traditional and contemporary approaches to marketing.
 ENGAGEMENT

What can you say about the image?

What do you think is its relation to our lesson?

https://auxiliumtechnology.com/from-the-yellow-pages-to-digital-marketing-the-rise-of-local-seo/

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 EXPLORATION

Utility Concept of Marketing

Business marketing utilities are the elements needed for an exchange or purchase to
take place between your company and your business customers. Utility refers to the
value or benefit a customer receives from the exchange, according to the University of
Delaware. There are four types of utility: form, place, time and possession; together,
they help to create customer satisfaction.
In marketing, a firm creates and distributes a good to create a particular value for the
consumers. Marketing uses four kinds of Utility.
1. FORM UTILITY - Form refers to the product or service you offer your customers.
Your marketing team carries out research into customer needs to develop a
specification for a product or service. Your product development team can then develop
a product or service that meets customers’ needs and provides your customers with
important business benefits such as lower costs, improved productivity, easier
installation or stronger competitive advantage. Your marketing team is creating utility by
transforming customers’ needs into product or services that deliver added value.
2. PLACE UTILITY – Also known as availability of the product or service refers to the
availability of a product or service in a location that is convenient to your customers. In
business marketing, place can refer to the convenience of your distribution channels or
direct sales operations. By improving the utility of place, you are ensuring that your
customers will find it convenient to buy your product.
3. TIME UTILITY- By focusing on the utility of time, you can ensure that products and
services are available when customers need them. Logistics plays an important role in
improving the time utility. By developing an efficient supply chain, you can ensure that
products are delivered on time. Late delivery could impact your customers’ own
productivity and efficiency if your company is part of their supply chain.
In service marketing, you can deliver utility by offering service and support 24 hours a
day, seven days a week. That kind of service would add real value if it reduced
customers’ downtime.
4. POSSESSION UTILITY - The utility of possession gives your customers ownership of
a product or service, enabling them to derive benefits in their own business. If you
provide customers with a high-performance component, for example, your customers
can use that component to improve the performance of their own product. Possession
has given them a strong benefit. You can improve the value of possession by offering
business customers financing options, for example by leasing products rather than
outright purchase.
6C’S OF MARKETING
1. CONSUMER CONTENT- In marketing, organizations must keep customers informed
about what they offer and should always be in constant contact with them. Marketers
should always be updated with their customer’s behaviors, values, interests, and other
factors that influence their purchases. A consumer- oriented firm works toward
satisfying customer’s needs before creating products or offering services.
2. COMPANY CAPABILITIES- To be on a par with competitors, marketing
organizations need to strengthen their capabilities in production and operations to
develop and produce goods that will meet consumer needs.
3. COMMUNICATION- A marketing organization must have a positive, long lasting
relationship with its customers because they can constantly look for cues provided by
the organizations as they make their purchase decisions. A negative brand image
results in low sales.
4. COMPETITION- The real challenge for any organization is to face its strongest
competitor head on. It should know the competitor’s strength and weaknesses and
determine the best way to respond.
5. CROSS-FUNCTIONAL CONTACT – A marketing organization cannot work alone
without the support and assistance of other departments.
6. COMMUNITY CONTACT – in marketing, organizations must be aware with the local,
international, and community news. It has constant contact with different agencies and
organizations within its surroundings. It also personifies Corporate Social Responsibility
(CSR) by integrating sustainability and ethics in conducting business.
TRADITIONAL APPROACHES OF MARKETING
PRODUCTION CONCEPT - During the era of the production concept, businesses were
concerned primarily with production, manufacturing, and efficiency issues.
Companies that uses the production concept has the belief that customers primarily
want products that are affordable and accessible.
The production concept is based on the approach that a company can increase supply
as it decreases its costs. Moreover, the production concept highlights that a business
can lower costs via mass production.
A company oriented towards production believes in economies of scale (decreased
production cost per unit), wherein mass production can decrease cost and maximize
profits. As a whole, the production concept is oriented towards operations.
PRODUCT CONCEPT - This concept works on an assumption that customers prefer
products of greater quality and price and availability doesn’t influence their
purchase decision. And so company develops a product of greater quality which usually
turns out to be expensive.
One of the best modern examples would be IT companies, who are always improving
and updating their products, to differentiate themselves from the competition. Since the
main focus of the marketers is the product quality, they often lose or fail to appeal to
customers whose demands are driven by other factors like price, availability, usability,
etc.
SELLING CONCEPT - Production and product concept both focus on production but
selling concept focuses on making an actual sale of the product. Selling concept
focuses on making every possible sale of the product, regardless of the quality of the
product or the need of the customer.
The selling concept highlights that customers would buy a company’s products only if
the company were to sell these products aggressively. This philosophy doesn’t
include building relations with the customers. This means that repeated sales are
rare, and customer satisfaction is not great.
CONTEMPORARY MARKETING CONCEPTS
MARKETING CONCEPT- A Company that believes in the marketing concept places
the consumer at the center of the organization. All activities are geared towards the
consumer. A business aims to understand the needs and wants of a customer. It
executes the marketing strategy according to market research beginning from product
conception to sales.
By focusing on the needs and wants of a target market, a company can deliver more
value than its competitors. The marketing concept emphasizes the “pull” strategy". This
means that a brand is so strong that customers would always prefer your brand to
others’
SOCIETAL MARKETING CONCEPT- This is a relatively new marketing concept. While
the societal marketing concept highlights the needs and wants of a target market and
the delivery of better value than its competitors, it also emphasizes the importance of
the well-being of customers and society as a whole (consumer welfare or societal
welfare).
The societal marketing concept calls upon marketers to build social and ethical
considerations into their marketing practices. They must balance and juggle the often-
conflicting criteria of company profits, consumer want satisfaction, and public interest.
RELATIONSHIP MARKETING CONCEPT - is a facet of customer relationship
management (CRM) that focuses on customer loyalty and long-term customer
engagement rather than shorter-term goals like customer acquisition and individual
sales. The goal of relationship marketing (or customer relationship marketing) is to
create strong, even emotional, customer connections to a brand that can lead to
ongoing business, free word-of-mouth promotion and information from customers that
can generate leads.
 EXPLANATION

LESSON 2: Traditional and Contemporary Approaches to Marketing

Name: Score:
Section: Date:

Answer the following question based on your own understanding.

1. Differentiate traditional concept from contemporary concepts.
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 EVALUATION

LESSON 2: Traditional and Contemporary Approaches to Marketing

Name: Score:
Section: Date:

Identify which concept were defined in the following definitions.

______________________1. This emphasizes the importance of the well-being of

customers and society as a whole (consumer welfare
or societal welfare).
______________________2. Refers to the availability of a product or service in a
location that is convenient to your customers.
______________________3. Concerned primarily with production, manufacturing,
and efficiency issues.
______________________4. The goal is to create strong, even emotional,
customer connections to a brand that can lead to
ongoing business, free word-of-mouth promotion and
information from customers that can generate leads.
______________________5. Refers to the product or service you offer your
customers.
______________________6. Focuses on making every possible sale of the
product, regardless of the quality of the product or the
need of the customer.
______________________7. Gives your customers ownership of a product or
service, enabling them to derive benefits in their own
business.
______________________8. This concept works on an assumption that customers
prefer products of
greater quality and price and availability doesn’t
influence their purchase decision
______________________9. This concept places the consumer at the center of the
organization
______________________10. By focusing on this concept, you can ensure that
products and services are available when customers
need them.
 Lesson 3
Customer Relationship: Customer Service

Learning Objectives
At the end of the lesson, you should be able to:
1. define “relationship marketing”;
2. explain the value of customers;
3. identify and describe “relationship development strategies”
4. illustrate successful customer service strategy in the Philippine
business enterprise

Overview

https://barrymoltz.com/uncategorized/essential-tactics-building-customer-relationships/

Because, customers have varying needs and preferences over time,

organizations must be able to offer products and services at the time when customers
need them. Marketers cannot force the customers to buy any products or services that
the company offers. Instead, consumer needs and wants must be understood and
anticipated, as well as be satisfied adequately and exceedingly. Companies must
predict customer needs.
 ENGAGEMENT

https://www.dreamstime.com/stock-illustration-young-man-asking-question-cartoon-illustration-trying-to-understand-what-s-going-
image92068780

In your opinion, what company here in the Philippines have the best customer
service that you’ve experienced? The worst? Give insights why did you choose
them to be your best and worst

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 EXPLORATION

CUSTOMER SERVICE

According to Grant (2020), Customer service is the direct one-on-one interaction between
a consumer making a purchase and a representative of the company that is selling
it. Most retailers see this direct interaction as a critical factor in ensuring buyer satisfaction
and encouraging repeat business.

Even today, when much of customer care is handled by automated self-service systems,
the option to speak to a human being is seen as necessary to most businesses. It is a
key aspect of servant-leadership.

The Cost of Customer Satisfaction

For decades, businesses in many industries have sought to reduce personnel costs by
automating their processes to the greatest extent possible.

In customer service, that has led many companies to implement systems online and by
phone that answers as many questions or resolve as many problems as they can without
a human presence.

But in the end, there are customer service issues for which human interaction is
indispensable, creating a competitive advantage.

Amazon is an example of a company that is doing all it can to automate a vast and
complex operation. It has to, given that it delivered five billion packages to customers'
doors in 2018, and that's just the purchases made by Prime members.

Nevertheless, Amazon still offers 24-hour customer service by phone, in addition to email
and live chat services.
Most successful businesses recognize the importance of providing outstanding
customer service. Courteous and empathetic interaction with a trained customer service
representative can mean the difference between losing or retaining a customer.

The Importance of Customer Satisfaction

Customer satisfaction should be considered a vital component of any business because

it provides marketers and business owners with a metric that can be used to measure
and improve business performance from a customer perspective. Not only is it a leading
indicator of consumer repurchase intentions and loyalty, but it is also a great way to
understand if they will become long term repeat customers or even advocates. On the
other hand, it can also provide the initial warning signs that a customer is unhappy and
potentially at risk of leaving. With all this considered, customer satisfaction can provide
businesses with crucial information to understand what aspects are successful and where
improvements need to be made.

Within a competitive marketplace where businesses are constantly competing for

customers, customer satisfaction is often seen as a key differentiator often acting as a
final purchase trigger point. Businesses that tend to succeed in these hostile
environments are the ones that make customer satisfaction central to their business
strategy. By regularly measuring and tracking customer satisfaction you can make
informed decisions to put new processes in place to increase the overall quality of your
customer service and elevate yourself above the competition. Therefore, it’s one of the
leading metrics used to measure consumer repurchase and customer retention.

Customer Relationship Management

As Ward (2020) defines Customer relationship management (CRM) as the systems and
processes that a business has in place to measure and improve how the company
interacts with and influences customers.

The goal of customer relationship management is to gather enough information about a

customer and use it well enough to increase that customer's positive interactions with the
company, thereby increasing that company's sales.
For small businesses, customer relationship management includes processes and
systems for:

• Lead generation and conversion: Identifying and targeting a company's ideal

customers; generating quality sales leads; planning and implementing marketing
campaigns with clear goals and objectives

• Relationship building: Creating regular communication channels; building and

improving relationships with customers; providing individualized attention to the
most profitable customers

• Customer service: Providing employees with the information they need to

understand customers' wants and needs, address concerns, solve problems, and
increase customer satisfaction

CRM systems are collaborative. These systems are used to gather data through all
phases of the customer relationship (marketing, sales, and service).

By creating a complete picture of the customer experience, customer relationship

management systems allow business owners and managers to make informed decisions
about how they can improve that experience and increase sales.
 EXPLANATION

LESSON 3: Customer Relationship: Customer Service

Name: Score:
Section: Date:

Answer the following questions based on your own understanding.

1. Why does it seem that only high-end retailers practice superior customer
service? Is it possible for low- to medium – end retailers to give superior
customer service?
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 EVALUATION

LESSON 3: Customer Relationship: Customer Service

Name: Score:
Section: Date:

1. Why is there a need to maintain relationships with customers? Does this apply to
the neighborhood sari-sari store? Explain.
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2. Tell me about your recent shopping experience. Was it pleasant? Were you
satisfied? Explain the role that customer service played in your experience?

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 Lesson 4
Market Opportunity Analysis and Consumer Analysis

Learning Objectives
At the end of the lesson, you should be able to:
1. Distinguish between strategic and marketing planning in terms of
objectives and processes
2. analyze the elements of macro- and micro-environment and their
influence to marketing planning;

Overview

https://ellennaylor.com/market-opportunity-analysis/

Analysis is sorting out the structures of signification and determining their social ground
and import. (The Interpretation of Cultures, New York: Basic Books, 1973, 9)
 ENGAGEMENT

https://www.searchenginejournal.com/trend-analysis-audience-search-behaviors/390673/

Give an example of a trend that you believe is happening right now. How can an
entrepreneur take advantage of this trend?
 EXPLORATION

The Strategic Marketing Process

This seeks to establish a clear and concerted direction for all marketing activities of an
organization. It includes plans to reach specific goals/objectives.

The strategic marketing process is depicted in the following diagram:

Mission Situation Objective

Identification Analysis Setting

Strategy
Marketing
Evaluation and
Strategy
Control

STEP 1: MISSION IDENTIFICATION

The company’s mission statement is articulated. A mission statement defines what an

organization is, why it exists, its reason for being, its primary customers, the products and
service it offers, and its geographical are of operation.
STEP 2: SITUATION ANALYSIS

This step assesses and evaluates the market, customers, competitors, and the
company’s internal and external environment. The objective is to identify the company’s
strengths and weaknesses, as well as the available opportunities and possible threats.

STEP 3: OBJECTIVE SETTING

Objectives are marketing targets that are specific, measurable, attainable, realistic, and
time-bound (SMART). These targets include sales revenues, market share, or profits.
These are used as bases for strategy selection and development.

STEP 4: MARKETING STRATEGY DEVELOPMENT

The development of a marketing strategy involves market segmentation, identification of

target market, positioning, selection of broad marketing strategies, and the translation of
strategies into action plans.

Strategies can be broadly classified into three categories. These are cost leadership,
differentiation and focus.

Cost Leadership

This is a strategy primarily for achieving the lowest cost of operation among industry
competitors. Cost leadership can be achieved through low-cost supply contracts,
overhead expense control, economies of scale, and comprehensive cost-cutting efforts,
among others.

Differentiation

It seeks to achieve superior product attributes and features that are different from industry
competitors. This results in pronounced consumer preference for the company’s
products.
Focus

Efforts are concentrated on a relatively small but profitable market. The development of
products and services primarily ensures the needs and wants of this market are
addressed and that satisfaction is provided.

STEP 5: STRATEGY EVALUATION AND CONTROL

After the strategy is developed, periodic monitoring and evaluation are needed. This is
necessary to identify deviations and make necessary adjustments and corrections.

THE TACTICAL MARKETING PROCESS

Marketing Action Marketing

Strategies Plans/Tactics Activities

Responsibility/
Activity Timetables Activity Budgets
Accountability

Monitoring and
Control
Complementing the strategic marketing process, the tactical marketing process
determines the means or tactics to implement the strategies. It involves the identification
of specific activities, timetables, responsibilities, and budgets for the implementation. The
objective is to ensure that the strategies are implemented successfully.

THE MARKETING MICROENVIRONMENT

The marketing microenvironment includes forces that are internal to the company or those
that are relevant to its operation. It is composed of the company itself, its suppliers, market
intermediaries, customers, competition, and its various publics.

• Suppliers: Suppliers can control the success of the business when they hold
power. The supplier holds the power when they are the only or the largest supplier
of their goods; the buyer is not vital to the supplier’s business; the supplier’s
product is a core part of the buyer’s finished product and/or business.

• Resellers: If the product the organization produces is taken to market by 3rd party
resellers or market intermediaries such as retailers, wholesalers, etc. then the
marketing success is impacted by those 3rd party resellers. For example, if a retail
seller is a reputable name then this reputation can be leveraged in the marketing
of the product.

• Customers: Who the customers are (B2B or B2C, local or international, etc.) and
their reasons for buying the product will play a large role in how you approach the
marketing of your products and services to them.

• The competition: Those who sell the same or similar products and services as
your organization is your market competition, and the way they sell needs to be
taken into account. How do their prices and product differentiation impact you?
How can you leverage this to reap better results and get ahead of them?

• The general public: Your organization has a duty to satisfy the public. Any actions
of your company must be considered from the angle of the general public and how
 they are affected. The public has the power to help you reach your goals; just as
they can also prevent you from achieving them.

THE MARKETING MACROENVIRONMENT

All business organizations operate within a particular macroenvironment. The marketing

macroenvironment includes factors that are external to the organization. Essentially,
these can neither be influenced nor altered by the company. However, they can affect a
company’s operational viability. These can be opportunities, which a business
organization can take advantage of, or threats, which the company must avoid.

Macro Environment Factors

• Demographic forces: Different market segments are typically impacted by

common demographic forces, including country/region; age; ethnicity; education
level; household lifestyle; cultural characteristics and movements.

• Economic factors: The economic environment can impact both the organization’s
production and the consumer’s decision-making process.

• Ecological forces: The Earth’s renewal of its natural resources such as forests,
agricultural products, marine products must be taken into account. There are also
natural non-renewable resources such as oil, coal, minerals that may also impact
the organization’s production.

• Technological factors: The skills and knowledge applied to the production, and
the technology and materials needed for the production of products and services
can also impact the smooth running of the business and must be considered.

• Political and legal forces: Sound marketing decisions should always take into
account political and/or legal developments relating to the organization and its
markets.

• Social and cultural forces: The impact the products and services your
organizations bring to market have on society must be considered. Any elements
of the production process or any products/services that are harmful to society
should be eliminated to show your organization is taking social responsibility. A recent
example of this is the environment and how many sectors are being forced to review
their products and services in order to become more environmentally friendly.
 EXPLANATION

Lesson 4: Market Opportunity Analysis and Consumer Analysis

Name: Score:
Section: Date:

Answer the following question based on your own understanding.

What of the other elements of the company’s internal environment could you
think of that would be important to analyze also? Why?
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 EVALUATION

LESSON 4: Market Opportunity Analysis and Consumer Analysis

Name: Score:
Section: Date:

Give three examples of promising products that could have worked here in the Philippines
if only the environment was different. Explain each why they are promising products.

Product A: _______________________

Product B: _______________________

Product C: _______________________
 REFERENCES

American Marketing Association (2020), Definitions of Marketing retrieved from

https://www.ama.org/the-definition-of-marketing-what-is-marketing/

Brimley B. (June 18,2017), The Importance of Customer Satisfaction retrieved from

https://www.thoughtshift.co.uk/the-importance-of-customer-satisfaction/

Grant M. (2020), Customer Service retrieved from

https://www.investopedia.com/terms/c/customer-service.asp

Ilano A. B. (2019), Principles of Marketing, Second Edition, Rex Bookstore, Inc.

Oxford College of Marketing (2021), The Impact of Micro and Macro Environment
Factors on Marketing retrieved from
https://blog.oxfordcollegeofmarketing.com/2014/11/04/the-impact-of-micro-and-
macro-environment-factors-on-marketing/

Ward S. (October 4, 2020) What Is Customer Relationship Management? (CRM)

retrieved from https://www.thebalancesmb.com/crm-customer-relationship-
management-2947184

Torres O., So R. (2019), Principles of Marketing, Revised Edition, Vibal Group, Inc.

Twin A. (2020), Marketing retrieved from

https://www.investopedia.com/terms/m/marketing.asp