Principles in Marketing

1. PRINCIPLES OF
MARKETING

2. Week 4 to 6
Most Essential Learning Competencies (MELCs)
• Explain the relationship between market
analysis, planning, implementation and control
analyze the company’s situation, markets and
environment (the marketing audit and SWOT
analysis)

3. A marketing plan is essential for
business for several reasons:
1. Clear Objectives:
A marketing plan helps a business define its marketing goals and objectives. It
provides a roadmap for the marketing team, outlining what needs to be achieved
and the strategies to be implemented to reach those objectives. Without a plan,
marketing efforts can become scattered and less effective.

4. A marketing plan is essential for
business for several reasons:
2. Target Market Identification:
A marketing plan enables businesses to identify and understand their target
market. It involves researching and analyzing customer demographics,
preferences, behaviors, and needs. By understanding the target market,
businesses can tailor their marketing messages and strategies to effectively reach
and engage potential customers.

5. A marketing plan is essential for
business for several reasons:
3. Competitive Advantage:
A marketing plan allows businesses to identify and leverage their competitive
advantages. By conducting a thorough analysis of the market and competitors,
businesses can determine what sets them apart from their competition and
develop strategies to highlight those unique selling points. This helps in
positioning the business effectively in the market and attracting customers.

6. A marketing plan is essential for
business for several reasons:
4. Resource Allocation:
A marketing plan helps in allocating resources effectively. It outlines the
marketing budget, timelines, and resource requirements for various marketing
activities. With a plan in place, businesses can allocate their marketing resources
strategically, ensuring that they are investing in the most impactful channels and
activities.

7. A marketing plan is essential for
business for several reasons:
5. Integrated Approach:
A marketing plan promotes an integrated approach to marketing. It ensures that
all marketing efforts, such as advertising, public relations, digital marketing, social
media, and promotions, work cohesively towards achieving the overall marketing
objectives. This coordination helps in creating a consistent brand image and
message, which enhances brand recognition and customer loyalty.

8. A marketing plan is essential for
business for several reasons:
6. Measurement and Evaluation:
A marketing plan provides a framework for measuring and evaluating the
effectiveness of marketing activities. It establishes key performance indicators
(KPIs) and metrics to track the success of marketing campaigns. By monitoring
and analyzing the results, businesses can identify areas of improvement, make
data-driven decisions, and optimize their marketing strategies for better results.

9. The relationship between marketing analysis,
planning, implementation and control can be
understood as a cyclical process that drives the
success of marketing initiatives within a business.
Here’s breakdown of each component and their
interdependencies:
1. Marketing Analysis:
Marketing analysis involves the systematic collection and evaluation of data and
information related to the market, customers, competitors, and the business
itself. It helps in understanding the current market conditions, customer needs
and preferences, and the competitive landscape. Marketing analysis provides
valuable insights that inform the subsequent stages of the marketing process.

10. The relationship between marketing analysis,
planning, implementation and control can be
understood as a cyclical process that drives the
success of marketing initiatives within a business.
Here’s breakdown of each component and their
interdependencies:
2. Planning:
Based on the findings from the marketing analysis, businesses develop a
marketing plan. The planning phase involves setting objectives, formulating
strategies, and creating a detailed roadmap for achieving marketing goals. It
includes identifying target markets, defining the value proposition, establishing
marketing objectives, and determining the marketing mix (product, price,
promotion, and place).

11. The relationship between marketing analysis,
planning, implementation and control can be
understood as a cyclical process that drives the
success of marketing initiatives within a business.
Here’s breakdown of each component and their
interdependencies:
3. Implementation:
Implementation is the execution phase where the marketing plan is put into
action. It involves carrying out the marketing strategies and tactics outlined in the
plan. This includes activities such as advertising campaigns, social media
engagement, content creation, product launches, sales promotions, and
distribution efforts. Effective implementation requires coordination among
various departments and stakeholders involved in executing the marketing
initiatives.

12. The relationship between marketing analysis,
planning, implementation and control can be
understood as a cyclical process that drives the
success of marketing initiatives within a business.
Here’s breakdown of each component and their
interdependencies:
4. Control:
Control refers to the monitoring and evaluation of marketing activities to ensure
they are progressing as planned and achieving desired outcomes. It involves
measuring key performance indicators (KPIs) and comparing them against
predefined targets and benchmarks. Control helps in identifying any deviations or
gaps between planned and actual results, allowing for timely adjustments and
corrective actions. It also involves gathering customer feedback and market data
to continuously refine marketing strategies.

13. A marketing audit and SWOT analysis are valuable
tools for analyzing a company’s situation, markets
and environment: Here’s some component:
Marketing Audit:
A marketing audit is a comprehensive evaluation of a company’s marketing
activities, strategies and performance. It involves examining internal and external
factors that influence marketing effectiveness. Here’s are key areas covered in a
marketing audit:
1. Internal Analysis:
This involves assessing the company's internal marketing capabilities, resources,
and performance. It includes analyzing the marketing objectives, strategies,
marketing mix, sales and distribution channels, pricing, branding, and customer
relationship management. The internal analysis helps identify strengths and
weaknesses within the company's marketing efforts.

14. A marketing audit and SWOT analysis are valuable
tools for analyzing a company’s situation, markets
and environment: Here’s some component:
Marketing Audit:
A marketing audit is a comprehensive evaluation of a company’s marketing
activities, strategies and performance. It involves examining internal and external
factors that influence marketing effectiveness. Here’s are key areas covered in a
marketing audit:
2. External Analysis:
This focuses on the external factors that impact the company's marketing
environment. It includes analyzing the market dynamics, industry trends,
competitive landscape, customer behavior and preferences, regulatory factors,
and technological advancements. The external analysis helps identify
opportunities and threats in the market.

15. A marketing audit and SWOT analysis are valuable
tools for analyzing a company’s situation, markets
and environment: Here’s some component:
SWOT Analysis:
SWOT analysis is a framework that assesses the company's internal strengths and
weaknesses, as well as external opportunities and threats. It provides a
structured approach to understanding the company's position in the market.
Here's how each element is examined:
1. Strengths:
These are internal factors that give the company a competitive advantage. It
could include strong brand equity, unique product offerings, efficient distribution
channels, well-established customer relationships, talented workforce, or
proprietary technology. Identifying strengths helps the company capitalize on its
advantages.

16. A marketing audit and SWOT analysis are valuable
tools for analyzing a company’s situation, markets
and environment: Here’s some component:
SWOT Analysis:
SWOT analysis is a framework that assesses the company's internal strengths and
weaknesses, as well as external opportunities and threats. It provides a
structured approach to understanding the company's position in the market.
Here's how each element is examined:
2. Weaknesses:
These are internal factors that hinder the company's performance or
competitiveness. It could include a limited product range, inadequate marketing
resources, poor customer service, outdated technology, or operational
inefficiencies. Recognizing weaknesses allows the company to address them and
improve its marketing strategies.

17. A marketing audit and SWOT analysis are valuable
tools for analyzing a company’s situation, markets
and environment: Here’s some component:
SWOT Analysis:
SWOT analysis is a framework that assesses the company's internal strengths and
weaknesses, as well as external opportunities and threats. It provides a
structured approach to understanding the company's position in the market.
Here's how each element is examined:
3. Opportunities:
These are external factors that can be leveraged to the company's advantage. It
could include emerging market trends, untapped customer segments,
technological advancements, changes in consumer preferences, or favorable
regulatory conditions. Identifying opportunities helps the company identify
potential areas for growth and expansion.

18. A marketing audit and SWOT analysis are valuable
tools for analyzing a company’s situation, markets
and environment: Here’s some component:
SWOT Analysis:
SWOT analysis is a framework that assesses the company's internal strengths and
weaknesses, as well as external opportunities and threats. It provides a
structured approach to understanding the company's position in the market.
Here's how each element is examined:
4. Threats:
These are external factors that pose challenges or risks to the company's success.
It could include intense competition, economic downturns, changing market
trends, legal and regulatory challenges, or technological disruptions. Recognizing
threats enables the company to develop strategies to mitigate risks and stay
competitive.

19. Let’s create a new product and develop pricing,
promotion and distribution strategies for it:
1. New Product/Service Design:
• Product/Service Description: Develop a concise description of the new
product/service, highlighting its key features, benefits, and unique selling
points.
• Target Market: Identify the specific target market segment(s) that would benefit
from the new product/service. Consider demographics, psychographics, and
needs of the target audience.
• Product/Service Differentiation: Determine how the new product/service
stands out from competitors and provides value to customers. Identify its
unique features, advantages, or innovations

20. Let’s create a new product and develop pricing,
promotion and distribution strategies for it:
2. Pricing Strategy:
• Cost-Based Pricing: Calculate the production, operational, and marketing costs
associated with the new product/service. Add a desired profit margin to
determine the selling price.
• Value-Based Pricing: Assess the perceived value of the new product/service in
the market. Set the price based on the benefits and value it delivers to
customers.
• Competitive-Based Pricing: Research and analyze the prices of similar
products/services offered by competitors. Set the price at a competitive level to
attract customers while considering the value proposition.

21. Let’s create a new product and develop pricing,
promotion and distribution strategies for it:
3. Promotion Strategy:
• Branding: Develop a compelling brand identity and positioning for the new
product/service. Create a unique brand name, logo, tagline, and visual elements that
resonate with the target market.
• Advertising: Determine the advertising channels (e.g., digital ads, print media, radio)
that reach the target audience effectively. Craft persuasive messages highlighting the
benefits and differentiating factors of the new product/service.
• Digital Marketing: Utilize online marketing techniques such as search engine
optimization (SEO), social media marketing, content marketing, and email marketing to
raise awareness and generate leads.
• Promotions and Incentives: Consider offering introductory discounts, limited-time
promotions, or bundled packages to incentivize customers to try the new
product/service.
• Public Relations: Develop relationships with relevant media outlets and influencers to
generate positive publicity and coverage for the new product/service.

22. Let’s create a new product and develop pricing,
promotion and distribution strategies for it:
4. Distribution Strategy:
• Direct Sales: Sell the new product/service directly to customers through an
online platform, company website, or physical store (if applicable).
• Retail Distribution: Establish partnerships with retail stores or distributors that
align with the target market to expand the product/service's reach.
• E-commerce: Set up an e-commerce platform or partner with established
online marketplaces to reach customers globally.
• Strategic Alliances: Explore collaborations with complementary businesses or
industry influencers to promote and distribute the new product/service.

23. Thank you…
JOANABELLA G. MOSCOSO
joanabellamoscoso@gmail.com