Based on what you know about marketing, what one word would you use to describe it? The most effective marketing uses a well-designed strategy and a variety of techniques to alter how people think and react. It can be used to shape one's perception and be persuaded to change its behavior. It is an ever- present force in modern society which influences what we do, why, and how we do it. Activity 1: Oh, But Why? Direction: In your own opinion, explain the following statement in 3-5 sentences. 1. The marketing sells products. 2. The marketing changes how you think about things. 3. The marketing shifts behavior. 4. The marketing creates memorable experiences. 5. The marketing alters history. Marketing uses a variety of elements to shape behavior and perceptions. It's more than just advertising, commercials, images, designs, experiences, etc. It uses a wide range of tactics often to sell products or services, how we spend our money, our time, to influence our conducts, behavior, etc. The goal of any specific marketing effort may have little to do with money but much more of what we think and do. Although there are many definitions of the term, the most common definition is the one used in business today: The Philippines Marketing Association (PMA) defines Marketing as a "science and profession guided principally by the universal principles of ethics, corporate citizenship, and corporate social responsibility. The American Marketing Association (AMA, Dec. 3, 2009) gave this meaning of Marketing as 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. The key to this definition is the word "value." Thus, marketing can be summarized as the creation, communication, and delivery of value to customers. In addition, the essence or goal of marketing is to identify, satisfy, and retain customers. Before you can create anything of value, first you must identify a want or need that you can address, as well as the prospective customers who possess this want or need. Next, you work to satisfy these customers by delivering a product or service that addresses these needs at the time customers want it. The key to customer satisfaction is making sure everyone feels they benefit from the exchange. Your customer is happy with the value they get for what they pay. You are happy with the payment you receive in exchange for what you provide. Effective marketing doesn't stop there. It also needs to retain customers by creating new opportunities to win customer loyalty and business. 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. . Introduce and innovate products and services that improveth the 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 the well-being of societies. ^ Activity 2: Catch Me A Slogan Direction: Create a catchy slogan about a product/service that you want to venture into. It should be original and reflects the goals of marketing. The firm must find a way to discover unfulfilled customer needs and bring to market products that satisfy those needs. It is called the Marketing Process. The marketing Process is a series of steps that allow organizations to identify customer problems, analyze market opportunities and create marketing materials to reach the desired audience. The process of doing so can be modeled in a sequence of steps: The Marketing Process The marketing process can be illustrated in the following diagram: The Situation Analysis Micro-environmental Macro-environment The maker Customers Competition Strengths, Weaknesses, Opportunities, and Threats Marketing Strategy Formulation Market Segmentation Target Market Selection Value Proposition Product Positioning Marketing Mix Decisions Implementation and Control Product Implementation Price Monitoring Place Marketing Mix Adjustment Promotion - Principles of Marketing Teacher's Manual Activity 3: Marketing Process Diagram Direction: Discuss the marketing process. Make your own diagram.