1.1.1.

Marketing definitions
Marketing is a process by which companies create value for customers and
build strong customer relationships to capture value from customers in return.
The Exchange Process
The act of obtaining a desired object from someone by offering something of
value in return
• Customer (or buyer)
• Product
• Provider (or seller)
• Transaction
- Needs
• States of deprivation
• Physical—food, clothing, warmth, safety
• Social—belonging and affection
• Individual—knowledge and self-expression
Ex: food, drink,…
- wants
Form that human needs take as they are shaped by culture and individual
personality
- demands
Human wants backed by buying power
- The marketing mix is the set of tools (4 Ps) the firm uses to implement its
marketing strategy: product, price, promotion, and place.
Marketing Management Orientations
- Production concept is the idea that consumers will favor products that are
available or highly affordable.
Ex: Miliket noodles with paper packaging after dominating the market have
expanded production scale
- Product concept is the idea that consumers will favor products that offer the
most quality, performance, and features. Organizations should therefore devote its
energy to making continuous product improvements
 Ex: Throughout the 20th century, Kodac was the king of the photography
industry, focusing on improving the quality of film, prints and film camera features
- Selling concept is the idea that consumers will not buy enough of the firm’s
products unless it undertakes a large scale selling and promotion effort
Ex: In 2014, Vinmart entered the retail market when it had to compete with
supermarkets, long-standing supermarket systems and grocery stores present
everywhere in residential areas. With a marketing-oriented strategy, Vinmart has
developed a nationwide network to create convenience and easy brand recognition
for customers.
- Marketing concept is the idea that achieving organizational goals depends on
knowing the needs and wants of the target markets and delivering the desired
satisfactions better than competitors do
Ex: Grab is a famous "motorbike taxi technology" brand with a convenient,
fast and easy online ride-hailing application. To achieve today's success in
Vietnam, Grab has developed and implemented effective marketing strategies
under the 4P Marketing Mix model.
- Societal marketing concept is the idea that a company should make good
marketing decisions by considering consumers’ wants, the company’s
requirements, consumers’ long-term interests, and society’s long-run interests
Ex: Vinamilk is the most successful brand when implementing its social
marketing strategy with the idea of "Reaching Higher Vietnam" and donated
40,000 cups of milk to poor children in 40 provinces and cities across the country.
The goal of the campaign is not only to profit but also to contribute to supporting
disadvantaged children, living in remote areas and not having access to regular
milk consumption.
Vinamilk has been actively carrying out many activities in the fields of society
and humanities for the community.Thanks to this, Vinamilk has become closer not
only to children but also to all Vietnamese people.
- The function of marketing is
. Adaption
. Distribution
. Selling
. Supporting
 . Risk
. Coordination
- Marketing process
1. Understand marketplace, customer needs and wants
2. Design a customer-driven marketing strategy
3. Construct an integrated marketing program
4. Build a profitable relationship and create delights
5. Capture value from customer to create profits and customer equity

Chapter 2:
- The marketing environment includes the actors and forces outside marketing
that affect marketing management’s ability to build and maintain successful
relationships with target customers.
- The needs of studying marketing environment
• Create conflict, inhibits development but also create motivation for
businesses
• The factors and forces of the marketing environment are always fluctuating,
requiring businesses to research, monitor and predict.
- Macro marketing environment
1.demographic environment
Demography is the study of human populations in terms of size, density,
location, age, gender, race, occupation, and other statistics
• Demographic environment is important because it involves people, and
people make up markets
• Demographic trends include age, family structure, geographic population
shifts, educational characteristics, and population diversity
• Changing age structure of the population
Ex: With education, a textbook manufacturing company may focus on student
customers to promote its products.
2. Economic environment
 consists of factors that affect consumer purchasing power and spending
patterns
• Industrial economies are richer markets
• Subsistence economies consume most of their own agriculture and industrial
output
• Changes in income
• Value marketing involves ways to offer financially cautious buyers greater
value—the right combination of quality and service at a fair price
Ex: for a farmer, weather and fertilizer prices are important factors.
3. Natural environment
involves the natural resources that are needed as inputs by marketers or that
are affected by marketing activities
• Trends
– Shortages of raw materials
– Increased pollution
– Increase government intervention
– Environmentally sustainable strategies
Ex: The scarcity of fuel and raw materials will cause prices to soar in
diamonds
4. Technology
• Most dramatic force in changing the marketplace
• Creates new products and opportunities
• Safety of new product always a concern
Ex: Social media marketing: Social media is growing and has become an
indispensable marketing tool in the digital age. Facebook, Instagram, Twitter, or
TikTok are all potential platforms for any marketing campaign. What businesses
need to keep in mind is choosing a platform that suits their marketing campaign, as
well as their products, and target customers
5. Political environment
 consists of laws, government agencies, and pressure groups that influence or
limit various organizations and individuals in a given society
6. Cultural environment consists of institutions and other forces that affect a
society’s basic values, perceptions, and behaviors
- Micro-environment consists of the actors close to the company that affect its
ability to serve its customers:
• Company
• Suppliers
• Marketing intermediaries
• Customer markets
• Competitors
• Publics
Chapter 4:
• Consumer buying behavior refers to the buying behavior of final consumers-
individuals and households who buy goods and services for personal consumption.
• Consumer market refers to all of the personal consumption of final
consumers.
• Most large companies research consumer buying decisions in great detail to
answer about:
- What they buy
- Why they buy
- How they buy
- Where they buy
- How much they buy
- When they buy
 - Model customer behaviors

- 4 major factors that influence consumer buying behavior

Ex
Examples of how these factors affect the operation of the enterprise:
1. **Cultural factors**: A vegetarian food company can appeal to customers
according to their ethics or religion by advertising that their products contain no
animal-based ingredients¹.
 2. **Social Factor**: A company that makes skincare products can use
famous models to advertise their products, as customers can trust the product if the
model uses it².
3. **Personal factor**: A sports product company may focus on younger
customers because they tend to buy more sports products than older customers¹.
4. **Psychological factors**: A wellness product company can use health ads
to attract customers interested in its health³.
- Types of Buying Decision making

- Drawback
1. complex behavior
- The decision-making process for this behavior is often long, and repeated
many times.
2.variety-seeking behavior
- Customers will compare benefits between brands
 3. Dissonance-reducing buying behavior
- It's hard to feel the difference between each brand they choose.

- The Buying Decision Process

1. need recognition
• Occurs when the buyer recognizes a problem or need triggered by:
- Internal stimuli: Need for new product or production equipment
- External stimuli: Idea from a trade show or advertising
- customer
Whether we act to resolve a particular problem depends upon two factors:
(1) the magnitude of the difference between what we have and what we
need
(2) the importance of the problem
- marketers
1. Know what problems consumers are facing, so the marketing-mix fits
2. Activate problem recognition to trigger the purchasing process
3. Shape how consumers define the need or problem
2. in4 searching
- customer
• Seeks information
• May come from past experience, word of mouth, or research
- marketer
• Promotions should give consumers the info they seek in the places they look
for it

Personal Commercial
sources sources

Experiential
Public sources
sources
 4. Evaluation of Alternatives
• The stage of the buying decision process in which the consumer uses
information to evaluate alternative brands in the choice set.
- customer
Develop a criteria to make a choice and evaluate options based on that criteria
- marketer
• Understand your target consumer’s evaluation criteria is critical.
• Your product needs to demonstrate these qualities in order to be short-listed
in the selection set.
4. Purchase Decision
5. Post-purchase Behavior
Ex: Buying a laptop
1. need recognition
- internal factor: your needs
- external factor: There are discounts when buying laptop
2. in4 searching
-You will look up information on social networks, from other people's
experiences
3. Evaluation of Alternatives
-
Criteria important Product's name 1 Product's
Color, coefficient Đánh giá từ 1 đến 10 name 2
tổng phải
bằng 1
Điểm Nhâ
n với cột
2
 - sau đó ta cộng điểm đã nhân với hệ số và bắt đầu so sánh các hãng
4. Purchase Decision
- you decide to buy the product you want
- you can pay by cash or banking
5. Post-purchase Behavior
Chapter 5
- Market segmentation is the process that companies use to divide large,
heterogeneous markets into small markets that can be reached more efficiently and
effectively with products and services that match their unique needs.

Geographic Demographic
segmentation segmentation

Psychographic Behavioral
segmentation segmentation

1. Geographic segmentation divides the market into different geographical

units such as nations, regions, states, counties, or cities.
2. Demographic segmentation divides the market into groups based on
variables such as age, gender, family size, family life cycle, income, occupation,
education, religion, race, generation, and nationality
3. Psychographic segmentation divides buyers into different groups based on
social class, lifestyle, or personality traits
4. Behavioral segmentation divides buyers into groups based on their
knowledge, attitudes, uses, or responses to a product
• Occasions
• Benefits sought
 • User status
• Usage rate
• Loyalty status
Selecting Target Market Segments
- Target market consists of a set of buyers who share common needs or
characteristics that the company decides to serve.
Evaluating Market Segments
• Segment size and growth
• Segment structural attractiveness
• Company objectives and resources
Target Marketing Strategies
Undifferentiated marketing targets the whole market with one offer
- Mass marketing
- Focuses on common needs rather than what’s different
Differentiated marketing targets several different market segments and
designs separate offers for each
• Goal is to achieve higher sales and stronger position
• More expensive than undifferentiated marketing
• Concentrated marketing targets a small share of a large market
• Limited company resources
• Knowledge of the market
• More effective and efficient
Choosing a Targeting Strategy
Depends on:
• Company resources
• Product variability
• Product life-cycle stage
 • Market variability
• Competitor’s marketing strategies
Differentiation and Positioning
Product position is the way the product is defined by consumers on important
attributes - the place the product occupies in consumers’ minds relative to
competing products
• Perceptions
• Impressions
• Feelings
Choosing a Differentiation and Positioning Strategy
• Identifying a set of possible competitive advantages to build a position
• Choosing the right competitive advantages
• Selecting an overall positioning strategy
• Developing a positioning statement
Identifying Possible Value Differences and Competitive Advantages
Competitive advantage is an advantage over competitors gained by offering
consumers greater value, either through lower prices or by providing more benefits
that justify higher prices
Choosing a Differentiation and Positioning Strategy
Identifying a set of possible competitive advantages to build a position by
providing superior value from:

Product differentiation
Services differentiation
Channel differentiation
People differentiation
Image differentiation
 Chapter 6:
Product is anything that can be offered in a market for attention, acquisition,
use, or consumption that might satisfy a need or want
1) Consumer products are products and services for personal consumption.
Classified by how consumers buy them
• Convenience products
• Shopping products
• Specialty products
• Unsought products
Convenience products are consumer products and services that the customer
usually buys frequently, immediately, and with a minimum comparison and buying
effort
• Newspapers
• Candy
• Fast food
Shopping products are consumer products and services that the customer
compares carefully on suitability, quality, price, and style
• Furniture
• Cars
• Appliances
Specialty products are consumer products and services with unique
characteristics or brand identification for which a significant group of buyers is
willing to make a special purchase effort
• Medical services
• Designer clothes
• High-end electronics
Unsought products are consumer products that the consumer does not know
about or knows about but does not normally think of buying
• Life insurance
 • Funeral services
• Blood donations
2) Industrial products are products purchased for further processing or for
use in conducting a business.
• Classified by the purpose for which the product is purchased
- Materials and parts
- Capital
- Raw materials
• Capital items are industrial products that aid in the buyer’s production or
operations
• Materials and parts include raw materials and manufactured materials and
parts usually sold directly to industrial users
• Supplies and services include operating supplies, repair and maintenance
items, and business services
Chapter 6
Product features are a competitive tool for differentiating a product from
competitors’ products.
Product features are assessed based on the value to the customer versus the
cost to the company.
Product mix consists of all the products and items that a particular seller
offers for sale
Width: 2 product lines (soft drinks and juice)
Length: 6 product (Coca-cola, Fanta, Sprite, Diet Coke, Coke Zero, and
Minute Maid juice)
Depth: 4 variations (coupe, sedan, truck, and convertible)
Consistency: Coca-Cola's brand identity is consistent and instantly
recognizable, even beyond what we can see with the naked eye. According to
Business Insider, 94% of the world's population can immediately recognize Coke's
red and white logo, even when the name does not appear.
Part 2:
Acquisition refers to the buying of a whole company, a patent, or a license to
produce someone else’s product
 Ex: On October 9, 2006, Google officially acquired Youtube, the acquisition
price was up to 1.65 billion USD. At the time this acquisition decision was
announced, it caused a lot of controversy, and the leaders were even informed that
they were "idiots" by billionaire Mark Cuban. However, time has proven Cuban
completely wrong, currently Youtube has grown extremely strongly, Youtubers
have even become a large source of annual revenue for Google.
Ex: Microsoft CEO decided to acquire Linkedin at a cost of up to 26.2 billion
USD. Mr. Satya Nadella said the reason he wanted to buy Linkedin was because
instead of a cooperative relationship, it was better for him to buy it back.
Combining Linkedin with Microsoft services has increased value for customers. It
can be said that the acquisition of LinkedIn has turned this into the largest deal in
history.
New product development refers to original products, product
improvements, product modifications and new brands developed from the firm on
research and development
Ex: Amazon's product development strategy
Amazon is an example of a customer-centric approach to product development
strategy. Their product strategy focuses entirely on customer needs. Amazon likes
to go against its target market. They wrote the press release for the product first and
honed it until its language is simple enough for everyone to understand. The press
release contains no technical jargon about the technology or user interface. Then
they work backwards from the press release to the product. This is a product
development strategy that focuses on Amazon's internal process of engaging
customers to create a specific product that meets an identified need.
Stage 1:
Idea generation is the systematic search for new-product ideas
Sources of new-product ideas
• Internal sources refer to the company’s own formal research and
development, management and staff, and intrapreneurial programs
• External sources refer to sources outside the company such as customers,
competitors, distributors, suppliers, and outside design firms
Step 2: Idea Screening
• Identify good ideas and drop poor ideas
 • R-W-W Screening Framework
• Is it real?
• Can we win?
• Is it worth doing?

• Step 3: Concept Development and Testing

• Product idea is an idea for a possible product that the company can see itself
offering to the market
• Product concept is a detailed version of the idea stated in meaningful
consumer terms
• Product image is the way consumers perceive an actual or potential product
• Concept testing refers to testing new-product concepts with groups of target
consumers
Step 4: Marketing Strategy Development
• Marketing strategy development refers to the initial marketing strategy for
introducing the product to the market
• Marketing strategy statement includes:
- Description of the target market
- Value proposition
- Sales and profit goals
• Business analysis involves a review of the sales, costs, and profit projections
to find out whether they satisfy the company’s objectives
• Product development involves the creation and testing of one or more
physical versions by the R&D or engineering departments
• Requires an increase in investment
Test marketing is the stage at which the product and marketing program are
introduced into more realistic marketing settings
• Provides the marketer with experience in testing the product and entire
marketing program before full introduction
 •
When firms test market When firms may not test market

• New product with large • Simple line extension

investment • Copy of competitor product
• Uncertainty about product • Low costs
or marketing program • Management confidence

Commercialization is the introduction

of the new product
• When to launch
• Where to launch
• Planned market rollout
Product Line-Cycle Strategies

The product life cycle is the process a product goes through from when it is
first introduced into the market until it declines or is removed from the market. The
life cycle has four stages-introduction, growth, maturity and decline.
Ex:
 Product: Companies may need to adjust their product offerings to meet
changing customer needs and preferences. For example, during a recession,
customers may be more price-sensitive and may prefer lower-priced products.
Price: Companies may need to adjust their pricing strategy to remain
competitive. For example, companies may need to lower prices to attract price-
sensitive customers.
Place: Companies may need to adjust their distribution strategy to reach
customers in new ways. For example, companies may need to expand their online
sales channels to reach customers who are shopping from home.
Promotion: Companies may need to adjust their promotional strategy to reach
customers in new ways. For example, companies may need to shift their advertising
budget from traditional media to digital media to reach customers who are spending
more time online.
It’s important to note that during a recession, consumers tend to be more
cautious with their spending. Therefore, it’s important to ensure that your
messaging is authentic and empathetic, and accurately describes how your product
or service benefits the consumer. By continuing to market your products or services
during a recession, you can stay on the forefront of the minds of consumers, so
when consumers gain back the money to spend, they instinctively turn towards
your brand.
Chapter 8
1 What is distribution channels
Distribution channels cover all the activities needed to transfer the ownership
of goods and move them from the point of production to the point of consumption.

2. Mô hình kênh phân phối đối với nhóm hàng tiêu dùng (tập trung vào kênh
wholesale channel ví dụ về doanh nghiệp đang SD kênh này 1 cách hiệu quả)

Wholesaling includes all activities involved in selling goods and services to

those buying for resale or business use
Costco: Costco is a membership-based warehouse club that offers a wide
range of products at wholesale prices. The company purchases products in bulk
from manufacturers and sells them to its members at discounted prices.
Walmart: Walmart is a multinational retail corporation that operates a chain of
hypermarkets, discount department stores, and grocery stores. The company uses a
combination of direct and indirect distribution channels to purchase products from
manufacturers and distribute them to its stores
Amazon: Amazon is an American multinational technology company that
focuses on e-commerce, cloud computing, digital streaming, and artificial
intelligence. The company uses a combination of direct and indirect distribution
channels to purchase products from manufacturers and distribute them to its
customers
3. Các yếu tố ảnh hưởng
1. Selecting Channel Members: This is a crucial decision that
manufacturers make while choosing intermediaries to distribute their products. The
selection process involves evaluating the intermediary’s performance consistency,
creditworthiness, credibility, sales targets, growth potential, and cooperativeness

2. Training of Channel Members: This step involves training

intermediaries to perpetuate the company’s values among them effectively. This
will improve performance and ensure that the intermediary carries the brand
forward
3. Motivating Channel Members: This step involves motivating
intermediaries to perform better by offering incentives, rewards, and recognition.
This will help build strong relationships with intermediaries and ensure that they
remain loyal to the company
4. Evaluating Channel Members: This step involves evaluating
intermediaries’ performance to ensure that they meet the company’s expectations.
The evaluation process involves assessing the intermediary’s sales performance,
customer service, and adherence to company policies

5. Modifying Channel Members: This step involves modifying the

channel members to ensure that they remain relevant and effective. The
modification process involves changing the intermediary’s role, adding new
intermediaries, or removing existing ones
Chapter 9: Promotion Strategy
1. Khái niệm Promotion
Promotion is the specific blend of advertising, public relations, personal
selling, sales promotion, and direct-marketing tools that the company uses to
persuasively communicate customer value and build customer relationships.
2. Mô hình tổng quát (slide 203)
 3. Các công cụ xúc tiến (9.4) -> trình bày cụ thể của từng phương pháp +
ví dụ cụ thể về 1 doanh nghiệp (Ví dụ Dnghiep A sử dụng 1 trong các công cụ xúc
tiến là advertising -> vậy quảng cáo ntn..?)

- Advertising is any paid form of non-personal presentation and promotion of

ideas, goods, or services by an identified sponsor
Broadcast, print, Internet, outdoor,...
Example: Nike is a great example of a company with incentive advertising
promotion tools. The company has a long history of using television and print
advertising to reach its target audience. Nike’s “Just Do It” campaign is one of the
most successful advertising campaigns of all time, and it has helped the company
build a strong brand identity and loyal following. By using advertising as its
primary promotion tool, Nike has been able to reach a wide audience and build
strong relationships with its customers.
- Sales promotion is the short-term incentive to encourage the purchase or
sale of a product or service
Discounts, coupons, displays, demonstrations,..
One example of a company that uses sales promotion tools effectively is
Domino’s Pizza. The company frequently offers discounts and deals to customers,
such as buy-one-get-one-free offers, free sides with orders, and discounts on large
orders. These promotions are often advertised. on the company’s website and social
media channels, and they help to make sales and build sales promotions as its
primary promotion tool, Domino’s Pizza has been able to increase sales and build
strong relationships with its customers.
- Public relations involves building good relations with the company’s
various publics by obtaining favorable publicity, building up a good corporate
image, and handling or heading off unfavorable rumors, stories, and events
Press releases, sponsorships, special events, web pages..
An example is Coca-Cola. The company has a strong public relations strategy
to make sales and building charitable causes. Coca-Cola also uses social media to
connect with customers and promote its products. The company has a strong
presence on platforms like Facebook, Twitter, and Instagram, where it shares
engaging content and interacts with customers. By using a variety of public
relations tools, Coca-Cola can reach a wide audience and build strong relationships
with its customers.
- Personal selling is the personal presentation by the firm’s sales force for the
purpose of making sales and building customer relationships
Sales presentations, trade shows, incentive programs,…
One example of a company that uses personal selling tools effectively
is Cutco. Cutco is a direct selling company that specializes in high-quality kitchen
knives and accessories. The company uses a network of independent sales
representatives to sell its products directly to customers. These sales representatives
are trained to provide personalized product demonstrations and build strong
relationships with customers. By using personal selling as its primary promotion
tool, Cutco has been able to build a loyal customer base and increase sales.
- Direct marketing involves making direct connections with carefully
targeted individual consumers to both obtain an immediate response and cultivate
lasting customer relationships—through the use of direct mail, telephone, direct-
response television, e-mail, and the Internet to communicate directly with specific
consumers
Catalog, telemarketing, kiosks..
One example of a company that uses direct marketing tools effectively is
Harry’s. Harry’s sells personal grooming products and shaving tools through both
digital and retail stores. The company uses a variety of direct marketing tools to
reach its target audience, including email marketing, social media advertising, and
direct mail campaigns1. Harry’s also offers a subscription service that delivers its
products directly to customers on a regular basis. By using direct marketing as its
primary promotion tool, Harry’s has been able to build a loyal customer base and
increase sales.
4. Các phương pháp xác định ngân sách xúc tiên (bổ sung thêm 5. Ngân sách
cố định)
- The affordable budget method sets the budget at an affordable
level.Ignores the effects of promotion on sales
- The percentage-of-sales method sets the budget at a certain percentage of
current or forecasted sales or unit sales price. Easy to use and helps management
think about the relationship between promotion, selling price, and profit per unit.
Wrongly views sales as the cause rather than the result of promotion.
 One example of a company that uses the percentage of sales method for its
promotion budget is Procter & Gamble. The company allocates a percentage of its
sales revenue to its advertising budget each year. In 2020, Procter & Gamble spent
approximately 8.2% of its net sales on advertising1. By using the percentage of
sales method, Procter & Gamble can allocate a budget that is proportional to its
sales revenue and ensure that it is spending an appropriate amount on advertising
- The competitive-parity method sets the budget to match competitor
outlays. Represents industry standards. Avoids promotion wars.
One example of a company that uses the competitive parity method for its
promotion budget is PepsiCo. The company allocates its promotion budget based
on the level of spending by its competitors, such as Coca-Cola. By using the
competitive parity method, PepsiCo is able to ensure that it is spending an
appropriate amount on advertising and promotions while remaining competitive in
the market