APPLIED ECONOMI
AIRA G. DIZON
STUDENT
MARICEL NASAYAO
TEACHER
GROUP 1
The action or business of promoting and selling products or services.” In
simple words, marketing is the process of attracting potential customers
and clients to a product or service
Strategy helps in developing goods and services with best profit making
potential. Marketing strategy helps in discovering the areas affected by
organizational growth and thereby helps in creating an organizational plan
to cater to the customer needs.
The purpose of the principles of marketing is that any business can—and
should—apply them to their marketing strategy. Because of this, you'll
find that each of the Ps is broad, so it can be applied universally and
molded to fit the needs of any kind of business. This makes it easier to
adapt to your own unique brand.
The Most Important Piece of a Marketing Plan Is Your Targeted Customer
Knowing and anticipating the wants and needs of your customers shapes
all the other elements of your plan
GROUP 2
relations refers to the methods a company uses to engage with its
customers and improve the customer experience. This includes providing
answers to short-term roadblocks as well as proactively creating long-
term solutions that are geared towards customer success
The relationship with the client is a relationship between the client and
the company. It begins when the customer starts to interact with a
company. It doesn't have to be a purchase - it can be seeing an
advertisement and the customer's first thought about the company and its
products. Each company is responsible for building this relationship
Good customer service always helps retain your customers. It is what
keeps your customers coming back for more purchases. Retaining
customers increases your revenue and it's also much cheaper to keep a
customer than to try to gain a new one.
In order to improve the relationship with the client, first of all, personalize
communication with them. The customer must feel like an individual, not
'one of many'. The client must feel that he is treated like a human being.
An extremely important point is not only the implementation of promises
made to the client, but also exceeding his expectations. An important plus
is also the transparency of the company's activities.
GROUP 3
Market opportunity analysis helps identify the needs of the customers and
accordingly plan, design, and deliver the products or services to derive
customer satisfaction. 2. It helps the company to stay ahead of the
competition due to the introduction of customer-oriented products.
Market opportunity analysis is the process of researching where and how
you can reach more potential clients or grow your revenue share. It
involves identifying competitions, understanding your audience, and
uncovering potential risks.
An opportunity analysis is an evaluation tool used when determining the
viability and profitability of developing a new hotel or property, or
expanding an existing one. It systematically looks at external
environments with the goal of understanding demand, consumer needs,
market acceptance and economic factors
GROUP 4
Industry and environmental analysis is a crucial process for businesses to
understand the external factors that can impact their operations and
identify potential business opportunities. It involves examining the
industry in which a company operates and the broader environmental
factors that affect its operations. The purpose is to gain insights into
market trends, competitive forces, and emerging opportunities. Here's a
breakdown of the key elements involved in industry and environmental
analysis for business opportunities identification: Industry Analysis: Market
Size and Growth: Assess the size and growth rate of the industry to
determine its potential. Market Segmentation: Identify different customer
segments within the industry and their unique needs. Competitive
Analysis: Evaluate the competitive landscape, including existing
competitors, their market share, and strengths and weaknesses. Industry
Trends: Identify emerging trends, technological advancements, and
changes in customer preferences. Barriers to Entry: Determine the
challenges and obstacles that new entrants may face in the industry.
Macro-Environment Analysis: PESTEL Analysis: Evaluate the political,
economic, social, technological, environmental, and legal factors that can
impact the industry. Demographic Factors: Consider population trends,
age distribution, income levels, and cultural factors. Economic Factors:
Assess factors such as GDP growth, inflation rates, interest rates, and
consumer spending patterns. Technological Factors: Identify technological
advancements that can disrupt or create opportunities in the industry.
Environmental Factors: Evaluate environmental regulations, sustainability
concerns, and consumer attitudes towards eco-friendly practices. Legal
and Regulatory Factors: Consider laws, regulations, and policies that
affect the industry. SWOT Analysis: Strengths: Identify internal strengths
that can be leveraged to seize opportunities. Weaknesses: Determine
internal weaknesses that need to be addressed or mitigated.
Opportunities: Identify external factors that can be exploited to create
new business opportunities. Threats: Assess external factors that may
pose risks or challenges to the business. By conducting a comprehensive
analysis of the industry and its environmental factors, businesses can
identify potential opportunities for growth and innovation. This analysis
helps in developing strategies to capitalize on market trends, gain a
competitive advantage, and align business operations with changing
environmental dynamics.
