WHY IS MARKETING

MANAGEMENT
IMPORTANT?
Group 1
Christine Dimpas
Shayne Luh
Ellena Calixtro
An Sagarino
 DEFINING MARKETING
• Marketing involves understanding its • Marketing is inherently customer-centric,
multifaceted nature and its role in creating focusing on understanding customer
value for both customers and businesses. behaviors, preferences, and motivations to
Marketing encompasses various activities tailor products or services accordingly. It
aimed at identifying, anticipating, and involves creating and communicating value
satisfying customer needs and wants propositions that resonate with target
through the exchange of goods or services. audiences, ultimately leading to customer
It involves a holistic approach that includes acquisition, retention, and loyalty.
market research, product development,
pricing, distribution, advertising, and
customer relationship management.
 • It involves the mutual exchange of value between a
business (seller) and its customers (buyers). In this
relationship, the business offers products or services
that fulfill the needs or desires of customers, and in
return, customers provide monetary compensation
(e.g., purchasing the product or service). This
MARKETING IS exchange of value forms the basis of marketing,
where businesses aim to create offerings that are
AN EXCHANGE attractive to customers and provide them with
RELATIONSHIP satisfaction or utility in exchange for their patronage.

• Marketing exchange relationship must have these:

• Mutual Benefit
• Value Proposition
• Understanding Customer Needs
• Feedback and Adaptation
• Ethical Consideration
 MARKETING IS
EVERYWHERE
• The marketing strategies and tactics are pervasive and can be found in
various aspects of daily life, from traditional advertisements to social
media, product placements in movies and TV shows, branding on clothing,
and even word-of-mouth recommendations. It underscores the ubiquitous
nature of marketing efforts aimed at promoting products, services, ideas,
and brands to consumers.

• • Moreover, advancements in technology have enabled marketers to reach

consumers through personalized and targeted campaigns across various
platforms and devices. This further amplifies the omnipresence of
marketing, as messages are tailored to individual preferences and
behaviors.
 • Marketing management is vital to a business's ability
to generate revenue, create a brand, and better
understand its customer base. Marketing management
works to ensure a company is profitable by gaining
new customers, expanding a customer base, building a
company’s reputation, and improving customer
WHY IS interactions. Some essential marketing functions of
marketing management include managing, analyzing,
MARKETING and aligning with a company’s goals.
MANAGEMENT IS
• These are the several reasons:
IMPORTANT
• Customer Satisfaction
• Market Positioning
• Brand Building
• Strategic Decision Making
• Relationship Building
 WHAT CAN WE MARKET?

1. GOODS 2. SERVICES 3. EXPERIENCES

Good is something tangible that A service is an offering that is An experience is marketed by mixing of
can be offered to market to satisfy essentially intangible and does not goods and services. provide the
a need or want. result in the ownership of anything. experiences which are not the part of
routine life.
4. EVENTS 5. PEOPLE 6. PLACES
Marketers promote events such as Celebrity marketing has gained a great Cities and towns promote their brand
sports events, beauty pageants like momentum in recent times. Each of the name to attract maximum tourists.
Miss Universe well-known people are a brand on their
own. Most of the celebrities and
politicians have a personal relations
team writing their speeches and day to
day meetings.
7. INFORMATION 8. IDEAS 9. ORGANIZATIONS
Information can be marketed as an Marketing executives continuously Organizations invest a lot to sustain
offering. Schools, colleges sell these strive to implement new ideas at work their brand image and gain new
offering to parents and students. place, markets.
Similarly, software, magazines are
marketed and sold to potential buyers.
10. Properties
• Properties are bought and sold, and a proper marketing
strategy is needed to ensure desired goals are met. The
builders’ take help of property agents which benefits
both the buyers and sellers
 MARKETING AND CUSTOMER
SATISFACTION IS EVERYONE’S
RESPONSIBILITY
• Marketing is now considered a philosophy • Marketing should be a part of the
and approach to business, with everyone organization's strategy, with the CMO
playing a role in ensuring customer holding the company accountable for
satisfaction. Accountants, salespeople, and results. It is crucial not to go overboard in
R&D professionals all understand the quantifying marketing efforts, as
importance of marketing, as they are the segmentation studies and advertising are
frontline interactions with customers. not short-term goals. By focusing on the
However, it is important not to overstate entire marketing team, businesses can
the value of marketing efforts, as ensure that their efforts are well-received
segmentation studies and advertising are and that the CMO holds the same weight in
not just short-term sales boosts. the company.
 THE MARKETING FRAMEWORK:
THE 5CS, STP, AND 4PS
THE 5CS STP 4PS
The 5Cs represent the customer, STP stands for segmentation, The 4Ps represent product, price,
company, context, collaborators, targeting, and positioning. It is promotion, and place. These
and competitors. These factors help important for a company to elements are crucial in creating a
in understanding the overall identify segments of customers successful marketing strategy. A
business situation. The customer company must develop a product
and company are the central who share similar needs and that meets the needs of its target
players in the marketing exchange, wants. segment, set an appropriate price,
while the context includes macro promote the product effectively,
environment factors such as the and make it available for purchase
economy, legal constraints, and through suitable distribution
cultural differences. channels.
 BOOK
LAYOUT
• Marketing is involved in designing products that customers will
enjoy, pricing them appropriately, making them available for
purchase at easy points of access in the marketplace, and advertising
the products' benefits to the customers. Throughout this book, we'll
assume that we're talking about a global touch of customers. This
internationalism is already true for most big firms, and it will be true
even for small entrepreneurs via the Internet or once they're
successful and grow.

• In conclusion, the marketing management framework provides a

structured approach to analyzing and managing the marketing
exchange. By understanding the 5Cs, conducting STP analysis, and
implementing the 4Ps, companies can develop effective marketing
strategies and achieve their business goals.
 LEARNING FROM THE
MARKETING FRAMEWORK
• A marketing framework is meant to help • Marketing frameworks streamline your
your marketing team function at its highest processes and decision-making, leading to
level. There are several benefits to creating improved efficiency. By providing a
a marketing framework, including: consistent methodology and set of
Improving the overall marketing strategy, guidelines, frameworks help you save time
which in turn benefits the growth and and effort. They enable you to develop
success of your company. strategies and execute campaigns more
efficiently, ensuring optimal resource
utilization.
 THE FLOW IN EACH CHAPTER :
WHAT? WHY? HOW?
• What is the topic in this chapter: Marketing • Why does it matter:
frame work framework is a structured • Your marketing framework serves as a way
approach that helps businesses plan, to define your strategy, how you plan to
implement, and evaluate their marketing execute it and how it will achieve your
strategies and activities. goals. Marketing strategy frameworks are
often represented in graphics or visuals that
clearly outline your analysis and strategy.