assumes that customer prefer products that are inexpensive, affordable, and widely available. Efforts are concentrated toward expanding the distribution, and improving production efficiency. The objective is to lower production costs resulting in lower prices. However, this concept is relevant only if customer tastes and preferences are stable and product demand is high.

assumes that customers will always prefer and patronize products of high quality. Resources are focused on product improvement and innovation. Product attributes and features are continuously enhanced. While this may be important, too much preoccupation on product quality may neglect the customers’ changing needs.

emphasizes aggressive selling and promotional efforts. It assumes that customers are generally timid and must be persuaded into buying. The objectives is to sell what is manufactured rather than manufacture what the market wants. Sales personnel use the art of persuasion to influence customers’ purchase decisions.

considers the needs of both the customer and the product offered. The objective is to provide a solution to the customer’s actual or perceived problem. The key is to be effective in the creation, communication, and delivery of this value of customers.

believes that all marketing activities are for the purpose of establishing, maintaining, and strengthening meaningful long-term relationships with customers. Extensive customer database 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.

the concept is similar to the marketing concept. However, beyond providing solutions to customers, the societal marketing concept also includes considerations that protect the customers’ well-being and interests, as well as the interests of the environment and society.

the concept aim to sell ideas and behaviors or transform negative habits or attitudes to positive ones for the benefit of individuals or society as a whole. It is mostly used by non-profit organizations to endorse their advocacies, raise awareness on critical issues. and ask for financial support for their projects. The primary focus of social marketing is for people to learn specific values and think and act for the greater good, rather than enticing them to purchase something. It should be noted that in terms of objectives, social marketing is different from societal marketing, which aims to offer quality products and services and at the same time, consider the interest of society.

marketing primarily influences what the product or service is trying to produce in the minds of the consumers and how they can relate to the brand. It increases the retention of the brand and the product, resulting in the brand awareness.

marketing activities support high sales lead volume. Many of the activities, like extensive promotion, prompt customers to eventually buy the product or avail of the service. The sales force can lead customers to purchase using persuasive selling. However, aside from getting information about the product or service from a salesperson, customers also check out brochures, flyers, billboards, or TV commercials to support the product or service claims.

is used in marketing to tap the expertise of people who can provide the best answers to customers’ most challenging questions about the product or service using formats that the latter would like to see and use. Company websites usually have a Frequently Asked Questions (FAQs) page that answers common questions about their products and services.

Marketing greatly helps in boosting sales. For example, a customer who is contemplating buying a new dress may be attracted to its style and quality, but a good sales talk from a salesperson will further encourage her to buy it. In short, production and marketing efforts go hand in hand in increasing sales.

the ultimate goal of marketing is to build and maintain lasting relationship with customers. When customers identify with the brand, they form an emotional attachment to it. When their expectations from the brand are met, this may translate to sales and profitability. Effective brand management is evident when customers feel guilty when they switch to another brand.

– a person who identifies the goods and services needed or wanted by customers and markets them.

- a person or a business that buys goods or avails of services produced or offered by a firm.

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.

is the process of offering something to another and then being offered something in return.

an agreement between a buyer and a seller to exchange goods or services. The exchange should involve money or some other resource that is of value to the organization offering the need-satisfying product or service.

- a promotional tool wherein a salesperson uses selling techniques to persuade a customer to purchase a good or avail of a service. It is the use of sales skills to build a personal relationship with a customer.

symbol or logo, words or a combination of these elements that a company uses to distinguish its products or services from others.

is the extent to which a brand is recognized by potential customers and is correctly associated with a particular product or service.

is the process of building and maintaining profitable customer relationships by delivering superior customer value and satisfaction, thus ensuring brand loyalty.

- A key factor in relationship marketing and also known as brand loyalty - arises when a customer had several positive experiences with a company’s products and services, thus, motivated to continue to support the company and patronize its products and services. - tends to persist despite the actions of the company or changes in the business environment.

also called as “_______” and is the most basic level of interactions between company and the customer. In basic marketing, a salesperson takes charge of selling the products or services to customers.

- the transaction moves to higher level because the sales person tells the customer that he or she can be contracted to answer any inquiry about the product or service.

In this level, the salesperson voluntarily contacts the customer to ensure that the product is in perfect condition and asks if it met the latter’s expectations. Also, the salesperson encourages the customer to provide suggestions on how to improve the product or service.

The company works closely with a group of regular customers who provide constructive feedback for the improvement of the product or service. This group also helps in the development of new products or services.

In the final level, the company has already built a loyal group of customers who can help in improving its performance and offerings.

is defined as the satisfaction derived from what a customer may experience or expect to experience by choosing a particular action relative to the cost of that action. The action can be a purchase, a visit, an order, or a sign up.

refers to anything that can be given up to receive the desired product or service, which can be in the form of money, time, knowledge, data or others.

these levels include the basic requirements of conducting a business. For instance, restaurants are expected to have a spacious dining area and clean tables and utensils. If these requirements are not met by the business, it cannot provide highquality customer value.

this involves what the customers want from the purchase or service experience. This is the first opportunity for a business to get ahead of the competition. For example, a retail shop can provide friendly and helpful staff who can assist the customers in making the right purchase.

It pertains to an unexpected purchase or service experience that may go beyond what the customers desire. For example, in a gasoline station, the gasoline boy cleans the car windows after filling up the customer’s gasoline tank without an extra charge.

are customers whose needs do not fit the company’s offering. The company does not need to invest and exert effort to win them.

as the name implies, are not loyal to a specific brand because they keep on looking for the best deals which may lead to patronizing other brands. The company can enjoy profits from these customers only for a short period of time.

have needs that match the company’s offerings. They make repeat purchases and patronize the brand so long as it satisfies their needs. The company must invest in these customers and strengthen its relationship with them.

are loyal but not profitable because of limited fit between their needs and the company’s offerings.

helps businesses communicate with their clientele more easily as most consumers regularly check their inboxes.

aside from their primary function of connecting people, have become a channel for netizens to ask for customer support.

facilitates real-time correspondence between customer and the company representative.

Given the amount of time, people spend on using their smartphones, companies know that creating mobile applications increases their visibility and provides value to their customers.

according to _____ the ultimate purpose of a business is to “find and keep customers.” Marketing plays and important role in achieving this purpose.

the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.

a form of communicating or promoting the value of product, service, or brand to the consumers.

defines marketing as a “science and a profession guided principally by the universal principles of ethics, corporate citizenship, and corporate social responsibility.”

is critical to any business’ success. However, its importance and extent depend on the perspective of the owner, the size of the business, and the kind of products or services being offered.

marketing may be the simplest, oldest, and most natural way of marketing a service or product profit and nonprofit purposes.

which focus less on the customers’ needs and wants and more on other factors such as production, product, and sales.

use the art of persuasion to influence customers’ purchase decisions.

are centered on the customer, relationships, and well-being of society:

indicate what the consumers expect and do not expect from their purchase decisions.

succeeded in creating a prototype cleaning agent

Tide was launched with the slogan “_____” and was marketed as “______.”