Applied Marketing – Reviewer

Marketing

- an organizational functions and a set of processes

for creating, communicating, and delivering value
to customers relationship in ways that benefit the
organizations and its stakeholders

Marketing Management

-art of science of choosing target markets and

getting, keeping, and growing customers through
creating, delivering, and communicating superior
customer value

What is Marketed ?

-goods and services

- events, experiences, person

- place, properties, organizations

- information and ideas

8 Major Types of Demand in Marketing

Negative Demand – a particular product is disliked

by the majority part of the market (heart surgery, Key Customers
dental works, etc) -they are the most important customers for your
No Demand – customers are not aware nor business
interestes about the product and services
Criteria to identify key customers
Latent Demand – a kind of hidden demand for
Revenue – they generate most revenue for your
certain products which is not satisfied with the
business (sales data)
existing available products (ex: IPhone)
Profitability – ones who are the most profitable for
Declining Demand – every product in its lifespan
your business (marginal data)
faces declining demand
Loyalty – the ones who keeps coming back for more
Irregular Demand – demand for products varies on
(customer relationship management data)
the basis of seasonality
Strategic Importance – they may be a customer that
Full Demand – happiest position of marketers due to
you are trying to expand into a new market
juncture their volume of business face full demand
Tips for managing your key customers
Overfull Demand – organizations face a demand that
is higher than their exixting capacity -assign a dedicated account manager to each key
customer
Unwholesome Demand – products will attract
organized efforts to discourage their consumption - regularly communicate with them
- get to know your key customers businesses 1. Delivering on their promises.
2. Offering competitive prices.
- be responsive to their needs 3. Providing excellent customer service.
- focus on your key customers Marketing Environment
Ways customers are segmented -totality of factors that influence a company’s liability
to market its products and services

Two main categories;

1. Internal (consists of factors within the

company’s control)

- resources
- capabilities
- corporate culture
*Offering brands are brands that offer a portfolio of
products and services. This can be in contrast to
2. External (consist of factors outside the
single-product or single service brands.
company’s control)
Offering Brands can offer a number of benefits ;
- micro-environment
1. Increase Brand Awareness - macro-environment
2. Cross-Selling Opportunities
3. Expanded Customer Base Holistic Marketing

Tips for developing a successful offering brand; -marketing philosophy that considers all aspects of a
business and its marketing efforts to create a
1. Start with a strong brand identity. cohesive and unified experience for customers
2. Offer a portfolio of products and services that
are complementary and consistent with your 1. build stronger relationship with customers
brand identity. 2. improve efficiency and effectiveness
3. Focus on offering products and services that 3. differentiate themselves from competitors
are high quality.
4. Develop a strong marketing strategy to Key Principles of Holistics Marketing include:
promote your products services. 1. Customer focus
2. Integration
Value Satisfaction
3. Relationship
-customers perception of the value that they received 4. Social Responsibility
from product or service, compared to their
Relationship Marketing
expectations
-focuses on building and maintaining long-term
- it is important because it can lead to a number of
relationship with customers
positive outcomes for business including;
- it is more cost-effective to retain existing customers
1. Increase customer loyalty
than to acquire new ones
2. Positive word-of-mouth
3. Increase revenue Number of benefits for businesses;
Number of things that a business can do to increase 1. Increased customer loyalty.
value satisfaction 2. Increased customer lifetime value.
 3. Positive word-of-mouth 1. Environmental Initiatives_focused on
4. Reduced Customer Churn reducing company’s environmental impact
and promoting sustainability
Number of things that businesses can do to 2. Social Initiatives_focus on improving the
implement relationship market strategies; lives of people and communities
1. Get to know your customers. 3. Economic Initiatives_focus on economic
2. Provide excellent customer service. development and job creation
3. Reward customer loyalty. 4. Philanthropic Initiatives_focus on giving
back to the community through charitable
4. Personalize the customer experience.
donations and other forms of philanthropy
Integrated Marketing
Example of CSI’s from well-known companies;
-coordinates all of company’s marketing activities to
1. Google
deliver a consistent and unified message to customer
2. Microsoft
1. Reach a wider audience. 3. Starbucks
2. Deliver a consistent message.
3. Improve efficiency and effectiveness. Marketing Mix
4. Differentiate themselves from competitors. -a set of controllable elements that a company uses to
influence and meet the need of its target customers in
Performance Marketing
the most effective and efficient way possible
-a popular choice for advertisers because it allows
them to track their results and measure the - companies can develop effective marketing
strategies that will help them to achieve their
effectiveness of their campaigns
business goals and to meet the needs of their target
There are number of different performance customers
marketing channels including;
Seven Elements of Marketing (7 P’s)
1. Search engine marketing (SEM)
2. Pay-per-click (PPC) 1. Product
3. Affiliate Marketing 2. Price
3. Promotion
4. Social Media Marketing
4. Place
Tips for running successful performances marketing 5. People
campaigns; 6. Process
7. Physical Evidence
1. Set clear goals.
2. Target your audience. Marketing Management Task
3. Create effective ads.
-activities that marketing managers perform in order
4. Track your results.
to plan , implement, and evaluate marketing
Corporate Social Initiatives strategies

-powerful way for companies to make positive Three Main Categories

impact on the world and to build stronger
relationships for customers, employees, and 1. Strategic Marketing
communities 2. Tactical Marketing
3. Marketing Operations
Types of CSI’s