Course Hero Logo

PM MODULE 1.docx - MODULE IN PRINCIPLES OF MARKETING (GRADE...

Course Hero uses AI to attempt to automatically extract content from documents to surface to you and others so you can study better, e.g., in search results, to enrich docs, and more. This preview shows page 1 - 3 out of 11 pages.

MODULE IN PRINCIPLES OF MARKETING(GRADE12)QUARTER1-WEEK1(SEPTEMBER13-17,2021)CHAPTER1:MARKETING PRINCIPLES AND STRATEGIES:TRADITIONAL APPROACHES AND GOALSOverviewYou’re about to begin an exciting journey toward learning about marketing. To start you off in thecourse, we’ll first define marketing and its key concepts. Then you’ll learn the various philosophies thatguide marketing management and the challenges marketing faces. The goal of marketing is to createprofitable customer relationships by delivering superior value to customers. Understanding these basicconcepts, and forming your ideas about what they mean to you, will give you a solid foundation for allthat follows.Marketing has a vital role in everyone’s living. As consumers of goods and services, peopleparticipate in the marketing process. Through a better understanding of marketing, everyone could turninto a well-informed consumer.Marketing is considered as the heart of business. Businesses couldn’t survive without marketing.Marketing is not just the job of marketers. It is the job of everyone in the organization.ObjectivesAt the end of this lesson, you are expected to:1.define and understand marketing principles and goals2.identify the scope of marketing3.describe the traditional approaches to marketing4.enumerate and discuss the goals of marketingStudy these termsMarketing-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.(AMA)Human needs-is a state of felt deprivation.Human want- form of human need takes as shaped by culture, individual personality and socialand environmental forces.Demands- human wants that are backed by buying power.Exchange-happens when a buyer and a seller exchange something of value.Market- composed of people with both desire and ability to buy a specific product/service.Goods- tangible products readily available for sale.
Services- intangible products offered to the market.Properties-are intangible rights of ownership of either real property (real estate) or financialproperty (stocks and bonds).Marketing goal- statements of what results the company wants to achieve with its marketingefforts.Target market- is the segment of the market most likely to purchase the firm’s product orservices.

Upload your study docs or become a

Course Hero member to access this document

Upload your study docs or become a

Course Hero member to access this document

End of preview. Want to read all 11 pages?

Upload your study docs or become a

Course Hero member to access this document

Term
Winter
Professor
N/A

Newly uploaded documents

Show More

Newly uploaded documents

Show More

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture