This document defines key marketing concepts including potential market, market demand, customer value, product satisfaction, and different types of products and services. It explains that a potential market includes future customer groups that may purchase a company's products or services. Market demand refers to the total demand for a specific product across a given time period and region. The document also distinguishes between tangible goods like products that can be seen and touched, and intangible services. It then categorizes products and services into various types including durables, non-durables, convenience products, preference products, shopping products, and specialty products.

2. A Potential Market is the
part of the market you can
capture in the future.
It includes the
demographic groups of
customers
 that will purchase your
product or services in the
future who might become
your regular customers
from the expansion of your
business.

3. Market Demand
is the total demand
of all potential
customers for a
specific
product/service over
a specific period in a
specific market area.

4. Value-
consumers have different needs
and buying capacities,
consumers assign varying
values on the same product or
service.

6. Satisfaction-
to ensure the
maximum
customer
value and
satisfaction

7. Products are considered tangible
goods wherein the goods can be seen
and touched.
Services are the intangible goods
wherein you will be paid according to
your profession, skills, and talents.

9. 1. Durables-
These are the
products which have
long interval
between repeat
purchases because
of their long-lasting
nature.

10. 2. Non-durables
Products that
have stronger
repeat purchases
because they are
consumable.

11. 3. Services
These are the
products which
are essentially
intangible
because there are
no physical items
involved

13. 1. Convenience Products
Have the lowest risk and lowest effort
in buying the products because
consumers will not spend a lot of time
or money in buying those products and
can be sold by wholesales.
For instance, Toothpaste, toilet paper,
drinks, food, and deodorants, etc.

15. 2. Preference Products
are consumer goods that have the
specific preferences for brands or
suppliers but are willing to make
substitution when necessary.
Ex. Palmolive shampoo

17. 3. Shopping Products
are products that consumers feel are worth the
time and effort to compare with other competing
products.
(example: tiles)
•They are durable
•The rate of purchase is infrequent
•Opportunity cost is high
•Less availability

19. 4. Specialty Products
specialty goods have rare
features and unique designs
and they don’t have
homogenous products.
For instance, designer clothing,
high specification laptop, sports