CONTEN Understanding Marketing
PRINCIPLES OF MODULE 1 T Principles and Goals
MARKETING QUARTER 3 WEEK 1
Learning Competencies:
1. Define and understand marketing principles and goals.
Code: ABM_PM11-Iab-1
Definition of Marketing
– A social and managerial process whereby individuals and groups obtain
what they need and want through creating and exchanging products and value
with others
Simple definition:
– Deliver customer satisfaction at a profit
– By: (1) attracting new customers by promising superior value, and (2)
keep current customers by delivering satisfaction
FIVE (5) CORE CONCEPTS
NEEDS, WANTS, DEMANDS
Needs – States of felt deprivation, part of human makeup
– Physical and social needs
Wants – The form needs take (e.g. food => hamburger)
– Shaped by culture and personality
Demands – When wants are backed by buying power
PRODUCTS AND SERVICES
Products – Anything that can be offered to satisfy a need or a want – Physical
products, services, experiences, persons, places, organizations, information,
ideas
Services – Just one kind of a product
VALUE, SATISFACTION, QUALITY
Customer Value – Difference between “value gained by owning and using a
product” and “cost of obtaining the product”
– Value gained not necessarily monetary
– Similarly, cost of obtaining not necessarily monetary
CONTEN Understanding Marketing
PRINCIPLES OF MODULE 1 T Principles and Goals
MARKETING QUARTER 3 WEEK 1
– Customers act on perceived value [and perceived cost]
Customer Satisfaction – Perceived performance relative to expectations
Quality – Closely related to satisfaction
– no defects, ability to satisfy customer needs
EXCHANGE, TRANSACTIONS, RELATIONSHIPS
Exchange – Obtaining a desired object from someone by offering something in
return
– Offerings could be money, product, and service Transaction – A trade of
values between two parties
– Monetary transactions and barter transactions Relationship (Marketing) –
Going beyond short-term transactions
– Long-term relationships with valued customers, partners, etc
– Marketing network – company and all its supporting stakeholders
MARKETS
Market – Place (virtual or physical) where buyers and sellers meet
– The set/place of actual and potential buyers of a product
– The sellers of a product are labeled as the “industry”
CONTEN Understanding Marketing
PRINCIPLES OF MODULE 1 T Principles and Goals
MARKETING QUARTER 3 WEEK 1
Performance Task:
Instructions
1. Choose one (1) product or service that is familiar to you (e.g., food
product, online shop, transport service, school supply store, etc.).
2. In your own words, explain how your chosen product/service applies the
following five core concepts of marketing:
o Needs, Wants, and Demands
o Products and Services
o Value, Satisfaction, and Quality
o Exchange, Transactions, and Relationships
o Market
3. Write 2–3 sentences per concept.
4. Use clear, organized, and complete sentences.
5. Follow the output format below
Output Requirements:
Individual work (Written/Printed)
Properly Labeled
Subject: _____________________
Content: ____________________
Quarter: ____________________
Week: ______________________
Name: ______________________
Grade & Section: ____________
Submit on:
SCORING RUBRIC
CONTEN Understanding Marketing
PRINCIPLES OF MODULE 1 T Principles and Goals
MARKETING QUARTER 3 WEEK 1
Needs
Point
Criteria Excellent (5) Good (4) Fair (3) Improvemen
s
t (2–1)
Clearly and
Needs, Mostly Basic Incorrect or
accurately
Wants, & correct with explanation, unclear /5
explained with
Demands minor lapses limited clarity explanation
strong example
Complete and Poor or
accurate missing
Products & Adequate Some
explanation explanation /5
Services explanation misconceptions
with clear
relevance
Insightful Clear but Limited Incorrect or
Value,
explanation lacks depth understanding unclear
Satisfaction, /5
showing deep
& Quality
understanding
Exchange,
Thorough
Transaction
explanation Generally Minimal Incorrect or
s, & /5
with real-life correct explanation missing
Relationship
application
s
Very well- Organized /5
Organizatio Some Poorly written
organized, with minor
n & Clarity disorganization and unclear
clear, and neat errors
TOTAL /25