1_Q2-Marketing-1 (1).pptx PRINCIPLES OF MARKETING

PRINCIPLES OF MARKETING

1. PRINCIPLES OF M ARKETING Quarter 2 - Module 1 The 4P’s of Marketing : Prod uct 1

2. At the end of this lesson, you are expected to: 1. identify the major classification of products; 2. explain what a product is and the importance of products in the marketing mix; 3. describe the stages of the product life cycle and its implications for marketing

3. What I Know Use a separate sheet of paper. Please do not forget to write the following in your answer sheet: Name: __________________________________________________ Yr. & Section: _________________________ Subject: _______________________ Quarter No: ___________________Module No: _____________________ Name of the Activity: What I Know Date: ____________________ ______ Directions: Read each of the following questions carefully and choose the letter of the correct a nswer. 1. What is the first element of the marketing mix? A. Price C. Product B. Place D. Promotion 2. What type of consumer products do Rolex watches belong to ? A. Convenience product C. Specialty product B. Shopping product D. Unsought product 3. Which of the following is an example of an unsought product? A. Cameras; Hand soap B. Toothpaste; Shampoo C. Life insuran ce; Educational plan D. Airline tickets; ATM cash withdrawal

4. 4. Which of the following statements is correct? I. Consumer products are those bought by final consumers for personal consumption. II. Industrial products are those bought by individuals and organizations for further processing or for use in conducting a business. A. Only I is correct C. Both I and II is correct B. Only II is correct D. Both I and II is incorrect 5. What stage of the product life cycle where profits are negative or low because of low sales and high distribution expenses? A. Decline stage C. Growth stage B. Introduction stage D. Maturity stage 6. Which goods that the firm process or assembles to create a new product? A. Equipment C. Supplies B. Finished goods D. Raw materials 7. Which of the following would be best described as a specialty product? A. Burial insurance C. Rolls - Royce motor cars B. Household supplies D. Thesaurus books 8. Which of the following is NOT true for convenience products? A. Low price C. Many purchases location B. Require much advertising D. Buy frequently and immediately 9. Which of the following is NOT the type of consumer product? A. Finished products C. Unsought products B. Shopping products D. Convenience products

5. 10. What type of industrial products where most are sold directly to industrial users? A. Equipment C. Raw materials B. Finished goods D. Supplies 11. What stages of the product life cycle where the sales of the product begin to decrease? A. Decline stage C. Growth stage B. Introduction stage D. Maturity stage 12. Which is an intangible offering that companies provide for their customers? A. Hybrid C. Product B. Goodwill D. Services 13. What products -services display if Sony Philippines offers not just appliances but also repair and maintenance services? A. Pure services B. Pure tangible goods C. Services with accompanying minor goods D. Tangible goods with accompanying services 14. Which of the foll owing is best to complete the sentence? ___________is a convenience product and _________ is a shopping product? A. Cameras: Burial plan C. Jeepney rides; Driving lesson B. Toothpaste; Hand soap D. Life insurance; Blood donation 15. What product life cycle when sales fall off and profits drop? A. Decline stage C. Growth stage B. Introduction stage D. Maturity stage

6. Recall the concepts you learned using the scramble words. COMRANMIENTEVNOR MENTIRGTLEEKTA NOITAZIMOTSUC HCASET NGARMTIKE TOUSRMCE SIRCEVE 1. ______________ _ it refers to the general forces such as social, political, legal, and technological fa ctors. 2. _______________ it involves unsolicited telephone calls to identified potential customers. 3. ______________ it is intended for customers who are cost - conscious and c annot afford to buy products in large quantities. 4. ________________ is the action of making something according to the buyer’s preferences. 5. ____________ is the process of ensuring customer satisfaction with a product or service. 4

7. What’s New To appeal to its customers, the organization must correspond to the marketing mix. Marketing mix centered around the product, price, place, and prom otion. 1. What is the first and most basic marketing consideration? 2. Can it satisfy the needs of a particular customer?

8. What Is It Product is the first element in the marketing mix. It is defined as anything that can be offered to a market for attention, acquisition, use, or consumption and that might satisfy a want or need. While service is a form of product that consists of activities, ben efits, or satisfactions that companies provide for their customers. Companies offer to the market either goods or services. It consists of: Pure tangible goods consist of physical items that can be touched and seen like television, radio, and mobile phone. 2. Tangible goods with accompanying services such as home appliances that offer repair and maintenance services.

9. 3. Hybrid consists of equal parts of goods and serv ices such as fast food. It is also a business that combines product s and service s to offer in the market. 4. Services with accompanying minor goods such as a beach resort and hotel which offer complimentary drinks. 5. Pure services such as those offered by teachers, lawyers, and doctors.

10. PRODUCT CLASSIFICATION Products are classified as either consumer or industrial products. A. Consumer Products - are those bought by final consumers for personal consumption. Types of Consumer Products 1. Convenience products are goods that people normally buy and consume frequently ex. toothpaste. 2. Shopping products are goods that people buy or consume less frequently and are more expensive than convenience products ex. furniture. 3. Specialty products are those that are distributed exclusively by an authorized distributor ex. Rolex w atches.

11. 4. Unsought products are goods and services that consumers may not consider highly necessary in their lives ex. Life insurance. B. Industrial Products are those bought by individuals and organizations for further processing or for use in conducting a business. Types of Industrial Products 1. Raw materials are goods that the firm processes or assembles to create a new product. 2. Finished products are the final products the firm produces. 3. Equipment these are the machines and tools used in creating products or providing services. 4. Supplies are products tha t may not necessarily be used in creating products but are important in the daily operations of a firm.

12. PRODUCT LIFE - CYCLE The product life cycle is the course of a product’s sales and profits over its lifetime. It is composed of four stages - introduction , growth, maturity, and decline. The graph below presents these stages with a bell curve indicating the sales performance o f a product.

13. True or False . Read the statement below. Write T if the idea being expressed is correct and F if other wise. ____1. Services are intangible products that we obtain through ideas or experience. ____2. Household supplies are examples of shopping products. ____3. Experiences are memorable while some products and services are not. ____4. Pure services include dermatological, hotel, banking, and airlines. ____5. Shopping products require much advertising and personal selling. ____6. Price is the first element in the marketing mix. ____7. Pure tangible goods consist of physical items that can be touched and seen. ____8. Convenience products are usually offered at a low price. ____9. Gadgets and luxury vehicles are examples of unsought products. ____10. Ovens used in bakeries would be best described as finished products. 6

14. What I Have Learned Direc tions : Choose at least one product and trace the product’s life cycle. Do appropriate research to make your timeline and application as accurate as possible. Follow the example below and answer the guided questions afterward Product Life Cycle of Nokia Source: https://tinyurl.com/y6pfd93h Introduction Stage: In 1992, Nokia launched its Digi - handled GSM phone, Nokia 1011. Growth Stage: After a lot of research Nokia then launched its first phone without an antenna, Nokia 3210 on March 18, 1999. With more than 160 million units sold this model is one of the most popular and successful phones in history. When I - phone and Samsung came in com petition, Nokia then launched phones like N95 to compete with them. Maturity Stage: During this stage, Nokia launched a lot of touch screen models, one of which was N - 97 qwerty+touch which was huge success and the most profit was gained.

15. Decline Stage: Nokia’s failed innovative product design and having its focus on windows as it’s OS, lead to its de cline. Guided Questions: 1. Which product life cycle stage do you think is the most important? 2. Which stage of product life cycle has the highest risk? 3. What suggestion could you offer that might have prevented the failure?

16. Name: __________________________________________________ Yr. & Section: _________________________ Subject: _______________________ Quarter No: ___________________Module No: _____________________ Name of the Activity: Assessment Date: __________________________ Directions : Read each of the following questions carefully and choose the letter of the correct a nswer. A. Price C. Product B. Place D. Promotion 2. Which of the types of consumer products that BMW cars would be best described? A. Convenience product C. Specialty product B. Shopping product D. Unsought product 3. Which of the following is an example of a convenience product? A. Cameras: Hand soap C. Life insurance; Educational plan B. Toothpaste; Shampoo D. Airline tickets; ATM cash withdrawal 1. What marketing mix is de fined as anything that can be offered to a market for attention, acquisition, use, or consumption and that might satisfy a want or need?

17. 4. Which of the following statements is correct? I. During the introduction stage , the profit is low while i n the growth stage the profit is i ncreasing. II. In the maturity stage , the sales begin to slow while decline stage the sales are declining. A. I is correct and II is incorrect C. Both I and II is correct B. I is incorrect and II is correct D. Both I and II is incorrect 5. Which goods that the firm process or assembles to create a new product? A. Equipment C. Raw materials B. Finished goods D. Supplies 6. Which of the following would be best described as a specialty product? A. Burial insurance C. Rolls - Royce motor cars B. Household supplies D. Thesaurus books 7. Which of the following is t rue in unsought products? A. Low price C. Many purchases location B. Require much advertising D. Buy frequently and immediately 8. Which of the following are the types of industrial products? A. Finished products C. Unsought products B. Shopping products D. Convenience products A. Supplies C. Equipment B. Raw materials D. Finished goods 8 9. What type of industrial products where goods undergo processes or assemble to create a new pro duct? A. Equipment C. Raw materials B. Finished goods D. Supplies

18. 10. What stages of the product life cycle where the sales of the product are rapidly rising? A. Decline stage C. Growth stage B. Introduction stage D. Maturity stage 11. Which of the following is best- described dermatologist s , beauty parlor, and banking? A. Product C. Hybrid B. Services D. Goodwill 12. What stages of the product life cycle where companies create product awareness and trial? A. Introduction stage C. Growth stage B. Maturity stage D. Decline stage 13. Which of the following are best to complete the sentence? __________ is a specialty product and _________ is an unsought product. A. Cameras: Burial plan B. Toothpaste; Hand soap C. Jeepney rides; Driving lesson D. Life insurance; Blood donation 14. What products may not necessarily be used in creating products, but are important in the daily operations of the firm? A. Supplies C. Equipment B. Raw materials D. Finished goods 15. What do you call the course of a product’s sales and profits over its lifetime? A. Product sales C. Product li fe cycle B. Product stages D. Product development

19. 15. What do you call the course of a product’s sales and profits over its lifetime? A. Product sales C. Product li fe cycle B. Product stages D. Product development Direc tions : Create a collage from the cut - out pictures and it should be based on your understanding of any type of products - consumer products or industrial products. Explain your artwork. 9