Marketing: Goals, Concepts, and Contemporary Approaches (Video Notes)

A set of practice flashcards covering the goals of marketing, contemporary concepts, and examples of societal, relationship, and social marketing from the lecture notes.

What are the five common goals of marketing?

Building brand awareness, generating high sales lead volume, establishing thought leadership, boosting sales, and increasing brand engagement.

What does building brand awareness aim to achieve?

Influences what the product or service is projecting to consumers, increases brand retention/recognition, and helps the brand become more memorable (e.g., logos, colors, slogans).

Give examples of brands that became synonymous with their products due to marketing.

Coca‑Cola with soft drinks (often called ‘Coke’), Xerox with photocopying (even used as a verb), McDonald’s golden arches; Intel Inside.

How does marketing support high sales lead volume?

Through extensive promotion and persuasive selling; customers use brochures, flyers, billboards, TV ads, and salespeople to learn about and buy the product.

What is meant by establishing thought leadership in marketing?

Positioning individuals or brands as experts with new ideas worth sharing; answers customers’ challenging questions using preferred formats; FAQs pages aid credibility.

What role do FAQs play in thought leadership?

They answer common product/service questions and help establish credibility; examples include content from SGV & Co., JobStreet, and Safeguard.

How is boosting sales achieved through marketing?

Marketing efforts encourage purchases with influential messaging; production and marketing work together; example: Ford Philippines expanding dealer networks to boost sales.

What does increasing brand engagement involve?

Building lasting customer relationships and emotional attachment to the brand; leading to loyalty and profitability; enhanced via social media, contests, and valuable content.

What is the marketing concept?

A shift from production/sales focus to understanding and meeting customer needs, aiming for long-term profitability.

What is a seller’s market vs a buyer’s market?

Seller’s market: many buyers for a limited number of goods; Buyer’s market: more products than buyers, leading to lower prices.

What is the societal marketing concept?

A marketing philosophy that blends profitability with corporate social responsibility, considering consumer needs, stakeholders, and long-term societal interests.

How does The Body Shop exemplify the societal marketing concept?

Uses natural ingredients, avoids harming the environment, opposes animal testing, and supports Cruelty Free International.

How has Coca-Cola addressed health and environmental criticisms under societal marketing?

Offers lower/no sugar products, provides transparent nutrition information, implements packaging recycling, replenishes water used, and supports the Coca-Cola Scholars Foundation.

What is the relationship marketing concept?

Focusing on establishing lasting relationships with customers and suppliers to foster loyalty and long-term business, emphasizing repeat business and superior service.

What role does technology play in relationship marketing?

Enables tracking customer information, online ordering, and easy feedback; supports communication via websites and social media.

What is social marketing?

A concept that sells ideas and behaviors for the benefit of individuals or society, often used by non-profit organizations to raise awareness and support for causes.

What is the difference between social marketing and societal marketing?

Social marketing aims to change behaviors for societal benefit; societal marketing aims to offer quality products/services while considering society’s interests.

Provide an example of social marketing’s impact in popular culture.

The 1985 charity single 'We Are the World' by USA for Africa raised funds for famine relief and increased awareness of global poverty.