1. Define Marketing, Marketing Concept, and Marketing Strategy2. Enumerate the 12 functions of Marketing and group them according to clusters3. Compare and contrast Marketing Concept, Product Concept, and Selling Concept4. Differentiate Marketing Strategy from Marketing Concept5. Explain the W’s of 4 P’s in Marketing Environment6. Internalize the values that prepare you as a future generalist and specialist7. Evaluate the topics learned from the lesson that can be applicable in the real world of marketing

TRANSACTION

Medina (2008)- the transportation of goods and services from the point of production to the consumers

- It is the transfer of goods needs that uses various forms like personal selling and salesmanship; promotions and advertising. They boost sales and eventually facilitate in exchage process

Marketing Concept VersusMarketing Strategy

The Firm Target

Market

4 Ps

Receive relevant information

Use information

Contact and sell product

To attain a level of sales

Firm decide satisfying a portion of Target market wants-2 parties with unsatisfied needs

-desire/ability of parties to be satisfied-way to communicate-each has something to exchange

4 Ps-Product-Price-Promotion-Place

Affects Marketing EnvironmentSocial Forces, Economic Forces, Technological Forces, Competitive Forces (pure, monopolistic, oligopoly, monopoly), Regulatory Forces

1.Study the next topic2.Suggested additional assignment to be submitted next meeting: Prepare a List of 10 business firms operating nationwide which employs advertising as a means of promotionReferences: Medina, Roberto (2008) Principles of marketing Revised Edition. Manila, Philippines Rex Book Store. pp.2-11 Printed Materials, Syllabus