GOALS-OBJECTIVES-MARKETING-APPROACHES-TYPES.pdf

Marketing approaches, marketing types, contemporary marketing, traditional marketing, goals, objectives, smart

1. MARKETING PRINCIPLES

2. AEERRTKM
is a person who identifies the
goods and services needed or
wanted by customers and
markets them.
MARKETER

3. EOUCSMRT
is a person or business
that buys goods or avails
of services produced.
COSTUMER

4. EOUCNMRS
refers to a person who acquires goods or
services for direct
use and has no intention of reselling them or
using them to create
another good or service.
CONSUMER

5. According to Go & Go (2017), “the
overriding objective of the company is
to first have a bond with the
customer to develop a relationship
that is customer-centric, then to think
of a competitive advantage that
addresses gaps in the customer’s
world. This means that while
companies must primarily know the
problems of the customers, they must
provide a solution while being
profitably superior to their
competition.”
3C Key Objectives
1. Customers 1. To satisfy the needs,
wants and expectations
of target
customers.
2. Competition2. To outperform
competition.
3. Company 3. To ensure corporate
health and profit
Key Objectives of the 3C’s of Marketing(Go & Go, 2017)

6. The marketing philosophy of “being better
than before, better than others and
better than expected”
can provide a standard for judging
marketing effectiveness.

7. GOALS OF MARKETING

8. Goals are aspirations that every company would
like to pursue or the general direction that it
wants to take. Goals serve as the main purpose
of the company and are usually attained in the
long term. Although it is primarily broad, a goal
should not be overly extensive that it becomes
difficult to translate it into specific objectives.

9. Examples:
1.To become the market leader of a (particular) business or
industry
2.To build customer loyalty through a (particular) marketing
program
3.To expand our markets and identify new markets for our
product or service
4.To provide positive name of product or service or
experience to customers

10. Objectives are the specific goals that can be
measured in the short term (one year
or less) or the long term (more than one
year). Thus, objectives should be SMART or
specific, measurable, attainable, relevant and time-
bounded.

11. Examples:
1.To achieve 20% of sales through online marketing
this quarter
2.To achieve 20% market share by the end of 2024
3.To generate a 15% increase in online sales every
year
4.To increase the number of repeat customers by 5%
every quarter

12. 1.Understand the market and its consumers
and satisfy their changing needs and
wants.
2.Introduce and innovate products and
services that improve on human condition
and the quality of life and promote
environmental conservation.
MARKETING GOALS

13. 3. Design and implement effective customer -driven marketing
strategies and develop marketing programs that deliver
superior value to consumers.
4. Build or develop and maintain mutually beneficial and
profitable base of loyal customers or lasting relationships
with customers.
5. Capture customer value to create profits: building brand
awareness, generating high sales lead volume, establishing
thought leadership, boosting sales, and increasing brand
engagement.
MARKETING GOALS

14. 6. Support the other functional areas
of business in achieving the
company or corporate goals.
7. Promote value transactions with
full regard to the well-being of
societies.
MARKETING GOALS

15. Brand – is a symbol, logo, words, or a combination of these elements that a
company uses to distinguish its products or services from others.
Branding – the ability of manufacturers to successfully distinguish their products
from other competitors.
Brand Awareness – is the extent to which a brand is recognized by potential
customers and is correctly associated with a particular product or service.
Thought leadership – is a technique that uses the expertise of people who can
provide the best answers to customers’ most challenging questions about the
product or service.
Lead Volume – is the number of sales leads that will ultimately be converted into
customers.
MARKETING GOALS

16. THE COMMON GOALS OF
MARKETING
1. Building Brand Awareness
•The company must develop a campaign to raise awareness, they
need to be more innovative to help business stand out above its
competitors.
•Brand awareness is what enters the mind of your clients when they
see or hear your company’s name.
•Building your product to your audience more effectively will
generate more leads and equates to higher sales.
•The importance of building brand awareness is to promotes your
business, by building reputation, differentiate yourself from
competitors, and develop and maintain loyal customers.

26. TRADITIONAL AND CONTEMPORARY
MARKETING CONCEPTS,
APPROACHES AND ADVERTISING
CHANNELS

28. •Marketing’s history has its humble
beginnings of simply trying to sell
goods and services. Activities and
efforts to develop persuasive
communications may have been as old
as civilization itself but may have not
been recognized as a marketing
business at that time.

29. •Simple marketing activities in the modern
era were first practiced during the Industrial
Revolution. According to (So, Torres, & De
Guzman, 2016), evident up to the late
1960s, traditional marketing concepts are
focused on production methods, product
quality, and effective selling methods as
profit drivers in marketing.

30. According to So, Torres, & De Guzman, 2016,
the production concept assumes
that customers prefer products that are
inexpensive, affordable, and widely
available, and that efforts are focused on
expanding distribution, and improving
production efficiency.
The Production Concept

31. When a company manufactures only one
product in large quantities and
fails to identify the number of customers who
are willing to buy them, the company
ends up with surplus products. This can also
happen when one believes that one’s
own product is unique.
The Production Concept

32. The term “Marketing myopia” or
marketing short sightedness, coined by
Theodore Levitt 1960, refers to a near-
sighted focus on selling products and
services, rather than seeing the “big
picture” of what customers really want.
The Production Concept

33. Levitt encouraged
executives to switch from
production orientation to
consumer orientation.
The Production Concept

35. This concept focuses on the product and its
improvements and innovations to attract
customers. This concept assumes that
customers will always prefer and patronize
products of high quality, thus, product
attributes and features are continuously
enhanced. This approach was considered a
solution to the limitations of the production
concept.
The Product Concept

36. Limitation of Product Concept:
1. Customers may consider the new features
unnecessary and would therefore not be convinced
to buy the product.
2. Product is often improvised and manufactured
without understanding the needs of the customers
and their willingness to spend for it.
The Product Concept

38. This concept relies on the strength of the
company’s sales force in convincing the
customers to buy the product even if they
do not need it. According to Theodore C.
Levitt, “selling concerns itself with the
tricks and techniques of getting people to
exchange their cash for a product.”
3. The Selling Concept

39. The mastery in selling techniques or the use of
aggressive selling tactics and promotional efforts
likely guarantees sales, although this is achieved
through hard selling. This is commonly known as
personal selling – a promotional tool wherein a
salesperson uses selling techniques to persuade a
customer to purchase a good or avail of a service.
It uses sales skills to build a personal relationship
with a customer.
3. The Selling Concept

40. However, since this orientation prioritizes sales, it
pays little attention to the customers’ actual need
for the product, which results in failure of the
business.
Thus, according to Theodore C. Levitt, selling is
different from marketing’s concern which is to
develop a demand for a product and fulfilling the
customer’s need.
3. The Selling Concept

42. Contemporary
Marketing Concepts

43. The Marketing Concept
Also known as a customer -centric orientation, this
focuses on the customers’ preferences – what they
want, how much they are willing to pay, what form and
feature they prefer, etc. – are prioritized. The company
researches about the target customers (customers who
would be served best by the company) and matches
the result of their research with the offering (product
or service) of the company.

44. Its drawback is in the implementation as
follows:
1. If the customers’ needs and wants are satisfied, what happens to
the society and the environment affected by these marketing
activities?
2. Would the product or service be still offered if it harms the
environment?
3. Does the product or service contribute to the customer’s quality
of life?

46. 2. The Relationship Marketing Concept
This concept believes that all marketing activities are for the
purpose of establishing, maintaining, and strengthening
meaningful long-term relationships with customers.
Extensive customer databases are created, maintained, and
updated. Customer profiles, purchase habits, and
preferences are tracked and monitored. This is to ensure
that customers’ needs are fulfilled and the relationship with
them is maintained.

47. The Societal Marketing Concepts
This is like marketing orientation except that concern
for the society’s well-being and the environment’s
sustainability is prioritized as much as customer’s
preferences. Thus, the evelopment of products that
contribute to the quality of life and the environment is
encouraged and often supported by caused-oriented
groups. This marketing approach is also called green
marketing and the product is called green product.

49. Customers can be classified as:
1. new-generation customers – are younger and more open
to products and technologies.
2. old-generation customers – tend to be loyal to traditional
products and it would take time for them to adopt new
products associated with technology. They are well
entrenched in their comfort zones and remain reluctant to
embrace new products and technologies.

50. TRADITIONAL VS CONTEMPORARY MARKETING
APPROACHES / ADVERTISING CHANNELS
Traditional marketing covers a wide array of
marketing technique and advertising channels before
the rise of technology that include primarily word-of-
mouth marketing, the print media (flyers, brochures,
newspaper articles, magazines, poster campaigns),
out-of-home advertisements (billboards, and public
transport), and broadcast advertising (radio and TV
ads), and direct mail and telephone.

51. TRADITIONAL VS CONTEMPORARY MARKETING
APPROACHES / ADVERTISING CHANNELS
Contemporary marketing primarily includes web-based
approaches such as digital marketing, online marketing,
email-marketing, and the like.
Marketing with the contemporary methods will revolutionize
the way you do business. The world is constantly changing.
Technological advancements are taking place like electronic
devices, telecommunication services and internet, and now
social media; the global trends; and the customer preferences
have created both business opportunities and threats for
marketers and businesses.

52. Contemporary Marketing Approaches
Digital Marketing – is an umbrella term that includes
anything that requires the use of an electronic device or
digital technologies, including online marketing,in presenting
the product or service offerings of a company. Electronic
devices include computers, mobile phones, TV, DVD and CD
players, and digital cameras, game systems and MP3, MP4
players, among many others. Digital marketing examples
include broadcasting, podcasts and e -books, digital out-of-
home (OOH) advertisements (like the large screen monitors
that display ads which are placed in strategic places where
there is heavy commuter traffic).

53. Contemporary Marketing Approaches
Mobile marketing is any advertising activity in which technology can be
used to create personalized promotion of goods or services to a user
who is constantly connected to a network via mobile devices such as
tablets and smartphones. By making use of the mobile devices’ features
such as location services, a marketer can tailor fit marketing campaigns
based on an individual user's location via promotions sent thru SMS
text messaging, MMS multi media messaging, thru apps using push
notifications, thru in-app or in-game marketing, thru scanning QR
codes, etc. Proximity systems and location-based services can alert
users based on geographic location or proximity to a service provider.

54. Web analytics is the measurement,
collection, analysis, and reporting of web
data for purposes of understanding and
optimizing web usage. Web analytics is not
just a process for measuring web traffic but
can be used as a tool for business and
market research, and to assess and improve
the effectiveness of a website.

55. Online Marketing or E-Marketing – this is a
subset of digital marketing and refers to content
delivered via the internet to boost promotional
and marketing efforts. Any marketing that
requires the internet to perform to attract
customers

56. and build an online presence is considered online marketing.
Examples of methods used are websites, blogs, social media, e-zines,
and emails (for automated emailing of product information to
customers). Today, especially this pandemic, online stores today like
Lazada, Zalora, OLX, Ayosdito, and Pinoydvd have become alternatives
to physical stores in terms of providing customers access to products
and services. Online stores have utilized social media networks to
bolster theiradvertising campaigns.

57. Search engine marketing (SEM) is the
most prevalent method of building an
online presence. SEM is online marketing
that attempts to increase an organization’s
visibility on search engines. There are two
main methods in SEM:

58. 1. Search Engine Optimization ( SEO) - SEO is a long-
term strategy that attempts to make content on web
pages more accessible and discoverable through search
engines. It optimizes websites for targeted keywords
related to the organization, helping the website rank
higher on search engines when the keywords are
searched.
2. Pay-per-click (PPC) ads. PPC ads, such as Google
AdWords, provide guaranteed visibility at a fee. While it
can be more expensive than SEO, you are only charged
when a person clicks on the ad. PPC models allow
organizations to manage their expectations effectively.

59. Social Media Marketing makes specific use of social networking
websites and relevant applications in promoting a company’s
products and services. It involves creating and sharing content
on social media networks in order to achieve your marketing
and branding goals. Social media marketing includes activities
like posting text and image updates, videos, and other content
that drives audience engagement , as well as paid social media
advertising. Social media marketing is a powerful way for
businesses of all sizes to reach prospects and customers .
Facebook, as we all know, is the most popular form of social
media site that marketers take advantage of among millions of
users. Some create Facebook profile pages where they post links
to their website and other promotional pages . Other social
media platforms are Instagram, LinkedIn, Twitter, YouTube ,
Pinterest, Snapchat, Tumblr, etc.

60. Vlogs & blogging is also a major aspect of social media
websites. Bloggers are now professionally hired by advertising
companies to promote products – they write blog entries
describing certain products or recounting the blogger’s
experiences in using them. These credible bloggers have
practically taken over company websites as the go-to-place to
get information, as boggers are more fun , personalized, and
objective in their information sharing.
Today there are countless digital apps that enable consumers to
live a more convenient life, Lalamove, Maxim, Uber, Angkas for
transportation, Airbnb for renting rooms, Waze for traffic and
route advise, Spotify for music, Pinterest for sharing themes in
digital bulletin board. Even emojis and hashtags are being used
in communicating to customers in making sure their brand stays
on top of the mind of its customers.

61. Outdoor Promotion /Marketing - refers to
advertising campaigns that employ outdoor
media such as billboards, transit vehicles and
other types of outdoor signs, including the signs
on the outside of businesses. Video walls and
digital billboards are gradually replacing the
traditional billboards to display promotional
materials for products and services outdoors.
The technology uses LED video screen that is
big and bright enough to be clearly seen by the
public. It is normally placed in strategic
locations where a lot of people can view it.

62. Mobile Promotion are mobile advertising
tools used by marketers to advertise to
passengers who have very little time to see
advertisements in other forms of media. It
uses LED video screens signs and ads
mounted atop taxicabs, on the sides of vans.
Product logos are painted on the sides of
buses or vans, or product stickers attached to
vehicles.

63. Telemarketing or “telesales”– involves the promotion of
products and services through unsolicited telephone calls to
identify potential customers. Telemarketing is the direct
marketing of goods or services to potential customers over the
telephone or the Internet. Four common kinds of telemarketing
include outbound calls, inbound calls, lead generation, and sales
calls. At present, marketers are outsourcing this task to call
center agents who contact and inform customers of promotions
for a new product or service on behalf of the company This is
done to increase the reach of the company in the market. Some
BPO companies in Cebu are inbound and outbound
telemarketers, if not into customer servicing.

64. Events Marketing – a strategy marketers use to
promote their brand, product, or service with an in-
person or real-time engagement. Event marketing
involves the hosting of a themed event that is
especially tailored for the product and is one of the
best ways to build brand awareness. These events
can be online or offline, and companies can
participate as hosts, participants, or sponsors.
Marketers use live entertainment to induce
customer traffic and showcase products or services
when offline. For instance, car companies host car
shows to introduce new car models, and clothing
companies host fashion shows to showcase their
new clothing line.

65. Sachet Marketing – is adopted to appeal to
consumers who are cost-conscious and cannot
afford to buy the products in large quantities. The
products are repacked in smaller sizes and re-priced
at more affordable values. This is usually done for
products such as coffee, shampoo, toothpaste, and
detergent. Sachet marketing is also done by selling
the product at a reduced price for a certain period,
such as cellphone load promos or hotel
accommodation promos.