AGRICULTURAL

MARKETING/AGRIBUSINE
SS MARKETING
Nanette C. Abelilla-Aquino
Assistant Professor
Department of Agribusiness Management
College of Economics and Management
U.P. Los Banos

June 1, 2011
Contents
 Pinoy Marketing
 What Marketing is Not
 The Strategic 3 Cs of Marketing,
Marketing Defined
 Core Concepts of Marketing
 Agribusiness Defined, Myths of
Agribusiness
 Importance of Marketing/Agribusiness
Marketing
 Classification of Marketing Activities
 Key Players in the Agribusiness Mktg
System
 Marketing Functions
 Issues in Agribusiness Marketing in the
 Pinoy Marketing

What’s so “hot”
about marketing
in the
Philippines?
 Jollibee
-Starting out as an ice cream parlor
and discovering their destiny as a
hamburger chain in 1978, Jollibee
has attained worldwide admiration
in so short a time.
-- Today, Jollibee is also the owner
of Chowking and Greenwich
-- They also own the Delifrance
franchise in the Philippines
 Eight O’Clock
-Inthe powdered juice market, Eight
O’Clock has surpassed another
multinational brand as the dominant
leader in the Phil since 1991

-Itsrevenues continued to grow

reaching nearly P3 billion in sales in
2000 despite the one-time 25% price
off challenge from its multinational
competitor in 1995
 United
Laboratories
-Filipino United Laboratories,
better known as Unilab, and
owner of known brands like
Biogesic, Alaxan, and Neozep,
accounted for over 20% of the
entire Phil pharmaceutical
market, the highest by any
drug company.
 Hapee
-Hapee toothpaste , owned by
Cecilio Pedro, has since been
the first and by far the only
Filipino company, that has
survived and cornered
respectable market shares in
the toothpaste market which
has long been dominated by
multinationals
Pinoy Marketing
In processed meat, it’s Purefood; in
ice cream, you simply must try
Selecta. In cigarettes, it’s Hope.
UFC dominates the banana catsup
market, the preferred catsup in the
Philippines with over 100 million
bottles consumed annually.
Pinoy Marketing
The Philippines is also home to
several role model brands
worldwide. The dominant market
shares in the Philippines of Procter
and Gamble’s Safeguard soap,
Nestle’s Bear Brand milk and San
Miguel beer are the highest in any
single market worldwide.
Pinoy Marketing
In the telecom industry, we are known as the text
capital of the world. The GSM Association
estimates that of the 200 billion text
messages transmitted worldwide for the year
2001, the Philippines accounts for over 80
million messages a day. This means that
while the Philippines comprises only about
1.2% of the world population, it is responsible
for some 15% of the world’s text messages.
Aren’t you proud
about the
marketing
capabilities of the
Pinoy? Aren’t you
proud to be a
What Marketing is Not

“marketing as selling”
While selling is an important
activity of marketing and is a
central function in daily business
operations, marketing is not
selling
What Marketing is Not

“marketing equals advertising”

While the importance of
advertising in marketing is not to
be underestimated, the fact of the
matter is, advertising, like selling,
is merely a part of the many
functions of marketing.
The Strategic 3Cs of Marketing
Customer

Company

Competition
 Strategic 3 Cs of
Marketing
A marketer should always
consider the strengths and
weaknesses of his
company in serving the
needs and wants of his
customers. However, it
should be able to do this
3 Cs Key Objectives

1. Customers To satisfy the

needs, wants and
expectations of target
customers.

2. Competition To outperform
competition.

3. Company To ensure corporate

health and profit.
3 Cs Outputs

Customers Sales

Competition Market shares

Company Profit
 Key Result Areas

• The output of Customers,

Competition, and Company is
collectively called key result
areas. These outputs are sales,
market shares, and profit,
respectively.
 Key Result Areas
A. Sales
Sales results from satisfying
customer’s needs and wants.
Before one can sell anything,
a demand must be created.
More sales will come when
more demand is created.
 Key Result Areas

* In the category of fast

moving consumer goods like
Pantene shampoo and Surf
detergent, the first step in
creating demand is by
building awareness for the
brand and the product via
mass media.
 Key Result Areas

* For direct selling companies

like Avon and Sara Lee,
demand for their products is
created by recruiting an
increasing number of sales
people.
 Key Result Areas

To increase sales revenues, a firm

can increase either the price or
the sales volume. The price,
however, can only be increased
up to a certain threshold and will
affect demand if not done within
the affordability equation of its
target market.
 Key Result Areas

Sales volume can be

increased through what is
known as the 3 Us of
marketing:
1. New USERS
2. New USAGE
3. More USAGE
 Key Result Areas

1. New USERS – Who uses the

product?

• Pearl shake pioneers Zagu and

Orbitz are still not available in
many parts of the Philippines.
They can expand regionally and
even internationally
 Key Result Areas

1. New USERS – Who uses the

product?

• Diet Coke was formulated to cater to

people who do not like or can not take
the sugar content of regular Coke.

• Sustagen Premium was formulated

as an alternative beverage for the
 Key Result Areas

2. New USAGE – For what purpose

is the product used?
• Petroleum jelly was originally
used for vehicles but is now used
as moisturizer and ointment for
insect bites
 Key Result Areas

2. New USAGE – For what purpose

is the product used?

• Arm and Hammer introduced its

baking soda as a new way to
deodoorize refrigerators
 Key Result Areas

3. More USAGE – When and in

what occasions is it used?

• Del Monte regularly comes out with

recipes to encourage more usage of
Del Monte products
• Star margarine invented “Star Rice”,
an innovation that expands the usage
of margarine other than on bread
 Key Result Areas

B. Market Shares

Market share means the

ratio of your brand sales
versus the total market
sales.
 Key Result Areas

B. Market Shares
• MSG maker Ajinomoto and Nescafe
coffee are examples of brands with
dominant market shares in the
Philippine food and beverage market

• Honda and Toyota are neck-and-neck

in the passenger car market since the
mid-1990s
 Key Result Areas

C. Profit

Profit is an indispensable component

for a firm to continuously satisfy
its customers. Profit, however,
must always come hand-in-hand
with honor.
Marketing Defined
 Marketing is the process
of continuously and
profitably satisfying the
target customers’ needs,
wants and expectations
superior to competition
(Josiah Go)
Marketing Defined
 Marketing is the societal
process by which individuals
obtain what they need and
want through creating offering
and freely exchanging
products and services of value
with others (Kotler et.al)
 Marketing is a series of
services involved in moving a
 Importance of
Marketing
 It affects us in every moment
of our lives.
 It provides a host of
opportunities for business
and career development
 Good marketing system
speeds up growth of
developing countries.
 Importance of
Marketing
 Effective marketing is
needed to link producers
and consumers.
 Effective marketing
addresses discrepancies
and separations between
consumers and producers.
PRODUCERS CONSUMERS
• produce and Discrepancy in
sell in large quantity • prefer to buy
quantities and consume
in small
• specialize in quantities
producing a
narrow Discrepancy in • need a broad
assortment of assortment assortment of
goods and goods and
services services

Marketing
overcomes
these
discrepancies
.
 PRODUCERS CONSUMERS
• tend to locate where • located in many
Separation in
it is economical to scattered locations
Location
produce
• may not want
• produces goods and Separation in certain goods and
services on a regular Time services all the time
or seasonal basis or may regularly
demand seasonal
products
•may not know who
needs what, where • do not know what is
and when available from whom,
where, and when
Separation of info
•value goods and • value products in
services in terms of terms of economic
costs and competitive Separation in utility and ability to
price Value pay

•hold title to goods • want goods and

and services that they Separation in services that they
themselves do not Ownership may not own
consume

Marketing
overcomes these
separations
Scope of Marketing
10 Types of Entities Marketed by Marketing
People
Entities Examples
1.Goods Agricultural products
2.Services Construction, health
services
3.Experiences Experience of going to
Disneyland
4.Events Trade shows,
Octoberfest, Olympics
Scope of Marketing

Entities Examples
5. Places Entertainment and tourist
spots
6. Persons Celebrities, consultants
7. Properties Real estate, stocks
8. Organizations U.P. Los Baños
9. Information Magazines, Encyclopedia
10. Ideas Consultancy companies
Core Marketing Concepts
Target Markets and Segmentation
• A marketer can rarely satisfy
everyone in a market.
• Therefore, marketers start by
dividing up the market. They identify
and profile distinct groups of buyers
who might prefer or require varying
product and service mixes.
Core Marketing Concepts
Target Markets and Segmentation
• A market segment consists of a
group of customers who share a
similar set of wants

(there are car buyers who are primarily

seeking low-cost basic
transportation and those seeking a
luxurious driving experience)
Core Marketing Concepts
Target Markets and Segmentation
• The marketer does not create the
segments; the marketer’s task is to
identify the segments then decides
which segment(s) present the greatest
opportunity – which are its target
markets.
Core Marketing Concepts
Target Markets and
Segmentation

• Segmentation is done to
“homogenize” markets
• Products contain offerings
directed to specific target
markets
 Core Concepts of
Marketing
 Marketers and
Prospects

A marketer actively seeks

for prospects for exchange
of values.
 Prospects are those
identified to have a certain
Core Marketing Concepts
Needs, Wants and Demand
• Needs – basic human requirements.
People need food, air, water, clothing,
and shelter to survive
• These needs become wants when
they are directed to specific objects
that might satisfy the need. A Japanese
needs food but wants sushi, tempura,
and Asahi beer.
Core Marketing Concepts
Needs, Wants and Demand
• Demands are wants for specific
products backed by an ability to pay.
Many people want a BMW; only a few
are able and willing to buy one.
• Companies must measure not only
how many people want their product
but also how many would actually be
willing and able to buy it.
 Core Concepts of
Marketing
 Products or Offerings
 Products – anything offered
for sale, attention and
acquisition
 Products come in the form
of goods, services, and
ideas.
 Core Concepts of
Marketing
 Value and Satisfaction

Value is the consumer’s

estimate of the overall
capacity of the product to
meet desired needs and
wants

Satisfaction is the end result

when a product is able to
 Core Concepts of
Marketing
 Exchange and Transactions
Exchange and Transactions
Exchange is the prerequisite of
marketing
Exchange takes place if : there
are two parties who are willing
to exchange products and
services; each party is capable
of communication and delivery;
each party has something to
offer for exchange
Core Marketing Concepts
Exchange and Transactions
• A transaction is a trade of values between two
or more parties: A gives X to B and receives Y in
return. Juan sells Pedro a television set and
Pedro pays P10,000 to Juan. This is a classic
monetary transaction; but transactions do not
require money as one of the traded values. A
barter transaction involves trading goods or
services for other goods or services
Core Marketing Concepts
Relationships and Networks
• Relationship marketing has the aim
of building mutually satisfying long-
term relations with key parties –
customers, suppliers, distributors – in
order to earn and retain their business

• This is a process of forging long

term relationships with the customers
Core Marketing Concepts
Relationships and Networks

• The ultimate outcome of

relationship marketing is the
building of a unique company
asset called a marketing network.
Core Marketing Concepts
Relationships and Networks
• A marketing network consists of
the company and its supporting
stakeholders (customers, employees,
suppliers, distributors, retailers, ad
agencies, university scientists, and
others) with whom it has built mutually
profitable business relationships
Core Marketing Concepts
Marketing Channels
• Marketers make the products
available to the customers through
marketing channels

• To reach a target market, the

marketer uses three kinds of marketing
channels: communication channels,
distribution channels and service
channels
Core Marketing Concepts
Marketing Channels
• Communication channels deliver and
receive messages from target buyers, and
include newspapers, magazines, radio,
television, mail, telephone, billboards,
posters, fliers, CDs, audiotapes, and the
Internet. Beyond these, communications are
conveyed by facial expressions and clothing,
the look of retail stores, and many other
media
Core Marketing Concepts
Marketing Channels
• The marketer uses distribution
channels to display, sell, or deliver
the physical product or services to
the buyer or user. They include
distributors, wholesalers, retailers,
and agents.
Core Marketing Concepts
Marketing Channels
• The marketer also uses service
channels to carry out transactions
with potential buyers. Service
channels include warehouses,
transportation companies, banks,
and insurance companies that
facilitate transactions.
 Core Concepts of
 Supply
Marketing
Chain

 Also known as the value

delivery system
 Describes the long process
which starts from raw
material sourcing to the
marketing of the final
products.
 Core Concepts of
Marketing
 Competition

 One of the realities in

marketing
 Includes actual and
potential rivals in product
and service marketing
 Core Concepts of
Marketing
 Marketing Environment
Macro-environment includes
demographic, economic, natural,
technological, politico-legal and
socio-cultural environments.
Industry environment includes the
participants in the supply of raw
materials and production,
distribution, promotion and
consumption of products.
 Core Concepts of
Marketing
 Marketing Mix

The set of tools a firm uses to

pursue marketing objectives with
the target market.
Four Ps of marketing – product,
price, promotion, place
Four Cs of marketing – customer
satisfaction, cost, convenience,
communication
 Agribusiness Defined
 … the sum total of all operations
involved in the manufacture and
distribution of farm supplies;
production activities on the farm;
and the storage, processing, and
distribution of farm commodities and
items made from them (Davis and
Goldberg, 1957)
 Agribusiness Sectors
 encompasses the whole of the
agriculture sector plus a portion of
the industrial & service sectors

AGRICULTURE INDUSTRY
(Agroindustries)

SERVICES
(Agroservices)
 Myths of Agribusiness
 Agribusiness is agricultural
production through farming.

 Agribusiness is big business.

 Agribusiness is purely a private

sector undertaking.
 Vertical Structure &
Coordinators
Consumers

Retailer
s
Managers
Wholesalers Government
Officers
Educator
Processors s
Research
ers
Farmers

Farm Suppliers
 Classification of
Agribusiness Products
 Fresh agricultural
products
 Semi-processed
agribusiness products
 Finished products
 Classification of
Agribusiness Products
 Fresh agricultural products –
these are products freshly or
directly harvested from the
farms, which do not pass higher
level of transformation. Fresh
agricultural products are
cleaned, sorted, and graded
according to standards or
grades desired by the markets.
 Classification of Agribusiness
Products
Semi-processed agribusiness
products – these are products that
underwent secondary or the second
level of transformation. These are in
forms which are for use by other
industries and processors but may
not be consumed. The ff are
examples of semi-processed
products:
* stripped abaca for handicraft
production
 Classification of
Agribusiness Products
 Finished products – these are
agribusiness products that may
be directly consumed by the
buyers. These are not usually
intended for further processing.
Examples are: dairy products
like milk, cheese, and yogurt;
woodcarvings; tire; processed
meat; canned fish; and herbal
 Classification of
Marketing Activities
 Transactional activities
 Physical handling and
distribution of products
 Facilitating activities
 Classification of
Marketing Activities
 Transactionalactivities –
these are exchange activities
which lead to the transfer of
ownership or property rights.
Examples of these activities
are buying and selling,
negotiation, and risk-taking.
 Classification of Marketing
Activities
 Physical handling and
distribution of products –
these refer to activities which
enable the different parties
to have physical possession
of the product. These
activities are concerned with
the physical supply of the
product and include
 Classification of
Marketing Activities
 Facilitatingactivities – these
are activities which create
faster and more efficient
performance of transactional
and physical handling
activities. These include
market intelligence and
marketing information
Key Players in the
Agribusiness
Marketing System
The Agribusiness System
Input
Subsystem
Support
Production Subsystem
Subsystem
Coordinat Government
Financing
ion Private
Agencies
Processing Manpower Industry
Institutions
Subsystem Technolog Associations
Financing
Informati
y Education/
Institutions
Infrastruct
on Institutions
Research
Marketing Policies/Progr
Subsystem ure
ams

Consumers
 Key Players in the
Agribusiness Marketing
System
 Inputsector – this is the start
of the agribusiness
marketing chain. Participants
include manufacturers,
dealers, brokers, and other
types of intermediaries
involved in the production
and distribution of farm and
 Key Players in the
Agribusiness Marketing
System
Farm sector – contains the primary
(crop) and secondary (livestock)
factories of agriculture, which
produce raw materials for
consumption and for further
processing. Marketing participants
are the farmers and several layers of
middlemen generally termed as
wholesalers, retailers, local buyers,
assemblers, dealers, or brokers, who
 Key Players in the
Agribusiness Marketing
System
 Processingsector –
regardless of the scale of
processing activities,
processed products are
usually marketed through
intermediaries. These
intermediaries mainly handle
semi-processed or finished
 Key Players in the
Agribusiness Marketing
System
 Agroservices – these are
entities which function
mainly as a provider of
services to facilitate
performance of production
and marketing functions.
Some of the agroservices
provided are in the areas of
technical assistance,
 Key Players in the
Agribusiness Marketing
System
Marketing sector – forms the links
between the other sectors
mentioned. This sector is playing a
different role in the physical
movement of products from one
sector to another. To illustrate, the
middlemen, who are the major
sectoral players, are involved in
bringing fertilizers to the farmers,
farm produce to the processors, and
 Classification of
Middlemen
 Assemblers – these are usually rural
traders or barrio buyers who do
accumulation of produce of
individual farmers and bulk these for
storage or for distribution to
wholesalers.

 Wholesalers – they usually handle

products in bulk or in big volumes
and sell to retailers, to processors,
 Classification of
Middlemen
 Retailers – intermediaries who deal
directly with the end-users or the big
consumers. They are the
wholesalers’ partners in distribution
activities.

 Agents and brokers – these are the

types of middlemen who do business
of negotiating in behalf of the
producers and buyers. They function
 Marketing Functions
 Negotiation
 Assembly
 Grading
 Storage
 Processing
 Packing/packaging
 Financing
 Risk-taking or risk-bearing
 Market intelligence/market research
 Marketing Functions
 Negotiation – this is a function which
facilitates transfer of ownership. The
negotiation function starts with
finding the buyers and bringing the
sellers and buyers together to make
arrangements.
 Assembly – being done by an
intermediary to accumulate the
produce of many small farmers or
producers to attain desired volume.
 Marketing Functions
 Grading – because of the variability
in agricultural outputs, grading must
be done to facilitate buying, selling,
transportation, storage, and pricing
of the produce. Grading is done to
standardize measurements, which
could be in terms of size, weight,
and overall quality.
 Storage – done primarily to make
goods available when it is needed
 Marketing Functions
 Processing – though oftentimes not
considered a marketing activity, it is
largely a marketing function. This is
because agribusiness products must
pass through some levels of
transformation before being made
available to the users. Processing
increases marketability of products
by changing product forms.
Examples are meat manufacturing,
 Marketing Functions
 Packing/packaging – packaging is
defined as the total product
presentation. Agribusiness
products , whether in fresh, semi-
processed or processed forms, must
be packed in acceptable and
recommended packaging materials.
Packaging serves to protect the
product, prolong shelf life, increase
product storability, facilitate product
handling, and improve overall
 Marketing Functions
Financing
Marketing entails a lot of costs. In the
Philippine setting where some farm
road networks are not fully
developed, transportation cost is
higher. This is even made higher by
the fact that agribusiness products
require more careful handling
because of their bulk and
perishability. Financing is therefore
 Marketing Functions
 Risk-taking or risk-bearing –
associated with any type of
business activity is the loss
incurred from operations. This
could be in the form of physical
damages due to natural causes
or this could be in the form of
loss associated with the changes
in costs of raw materials and
 Marketing Functions
 Market intelligence/market research
– this is being done to assure that
there is a product-market fit, that is,
the produce must match with what
the end-users want.

 Promotion – a continuous function of

marketing. The objective of
promoting goods and services is to
inform prospective buyers of product
 Issues in Agribusiness
Marketing in the
Philippines
 Inefficiency– defined as the
failure of the source or the
producer to bring the
produce to the market at the
time it is needed and at the
lowest possible cost.

 Dependence on Middlemen
 Reasons for farmers’
dependence on the
middlemen
 Smallness of farmers’ scale
of operations
 Producers’ lack of market
awareness
 Increasing importance of
middlemen’s participation in
the production and
harvesting processes
 Specific Issues in
Agribusiness Marketing
 Farmers’ Level
1. Low prices of agricultural
produce/price squeeze
2. Perceived lack of buyers or
markets
3. Poor access to major markets
due to lack of market
infrastructure
 Specific Issues in
Agribusiness Marketing
 Traders’ Level
1. Irregularity of volume of available
products and inability of farmers to
meet demands.
2. Lack of market infrastructure, which
results in increased marketing cost
and delayed distribution.
3. Competition due to relatively many
traders handling the same products.
 Specific Issues in
Agribusiness Marketing
 Consumers’ Level

1.High prices of agricultural

produce.
2.Variability in quality of
agricultural products in the
market.
 Marketing
Considerations and
Strategies
For fresh farm products
Product Strategies
Product Strategies are changes made
to physical products to make them
more attractive and saleable to
consumers. This is usually termed as
value adding for farm products.
To be assured of quality products, a
producer or a farmer adopts
 Marketing
Considerations and
Strategies
For fresh farm products
Pricing Strategies
Price is defined as the value of a
product expressed in monetary
terms.
Setting prices for fresh agricultural
products is relatively difficult
because of the perfectly competitive
nature of the market
 Marketing
Considerations and
Strategies
 For fresh farm products
Distribution Strategies
Producers or farmers can
improve distribution by
production scheduling.
Producers could time their
production to help even out
shortages in supply during
 Marketing
Considerations and
Strategies
 For
fresh farm products
Promotion Strategies
Given the very little differentiation
among farm products, these are
rarely promoted. Promotion usually
entails cost, an added burden which
the farmers are not willing to
shoulder. Only the big companies,
which have the resources and
 Marketing
Considerations and
Strategies
 For semi-processed and Processed
Products
Product Strategies
In addition to producing high-quality
products that are well-packaged,
product innovation is also needed to
make products saleable and open to
new markets. In all cases, innovation
is very important to create new
products for the market.
 Marketing
Considerations and
Strategies
 Pricing Strategies
Three factors must be considered in
price determination : demand, cost,
and competition

Cost-oriented pricing strategies are

usually adopted by processing
enterprises. Mark-up pricing is the
most commonly used cost-oriented
 Marketing
Considerations and
Strategies
 Distribution Strategies
The target market is the most important
determinant in the design of
distribution strategies of the
processing companies. For exported
products, processors either export
directly or sell to indirect and direct
exporters.
Locally distributed products have two
groups of target markets: institutional
 Marketing
Considerations and
Strategies
Institutional or organizational
buyers usually buy directly
from the processors.

Products for the consumer

markets go to retail stores
like supermarkets, grocer
shops, and convenience
 Marketing
Considerations and
Strategies
 Promotion Strategies

 DTI conducts annual exhibit and

trade fairs for food and non-food
products.
 Membership in export association
and processors association
 Processors also use advertisement
through print media, television, and
 Glossary of Terms
 Benefits – advantages that meet the
explicit needs and wants of the
customers
 Brand – a proprietary name, letter,
number, or group of words, letters, or
numbers intended to differentiate one
seller from another
 Distribution channels – any series o firms
or individuals who participate in the flow
of goods and services from manufacturer
to final consumer or business user
 Glossary of Terms
 Features – product attributes offered by
a company
 Market – a group of actual and potential
buyers with similar needs and wants
interacting with sellers offering various
products or services to satisfy needs
and wants
 Market development – a company’s
growth strategy that identifies and
develops new market segments for
existing company products
 Glossary of Terms
 Market penetration – a company’s
growth strategy that improves sales of
existing products in existing market
segments
 Market potential – what a whole
market segment might buy under ideal
conditions
 Market segment – a fairly
homogeneous group of customers who
will respond to marketing mix in a
similar way
 Glossary of Terms
 Market segmentation – the process of
dividing the total market into several groups
seeking similar benefits from a product or
service and requiring separate marketing
mixes
 Market shares – the proportion of a
company’s total sales of a product during a
defined duration in a specific market or
geographical area
 Marketing – the process of continuously and
profitably satisfying the target customer’s
needs, wants and expectations superior to
competition
 Glossary of Terms
 Marketing mix – the set of controllable
and inter-related variables composed of
product, place, price, and promotions
that the company assembles to satisfy a
target group better than its competitors
 Marketing strategy – specifies a target
market and a related marketing mix
 Needs – the state of felt deprivation of
some basic satisfaction
 Packaging – all the activities of designing
and producing the container for a
product
 Glossary of Terms
 Place – making products available in the
right quantities and locations – when
customers want them
 Place utility – having the product
available where the customer wants it
 Positioning – communicating the overall
positive impression of a brand, relative
to competition
 Price - the value of a product expressed
in monetary terms; the only element of
the marketing mix that produces
revenue
 Glossary of Terms
 Product – the tangible offering of a firm
that satisfies customer’s needs and wants
 Product development – a company’s growth
strategy that identifies and develops new
products to sell to existing markets
 Promotion – communicating information
between seller and potential buyer to
influence attitudes and purchase
intentions.
 Prospecting – following down all the sales
leads in the target market to identifying
potential customers
 Glossary of Terms
 Psychographics – the analysis of a
person’s lifestyle
 Quality – the ability of a product to
satisfy a customer’s needs and wants
 Retailing – all of the activities involved
in the sale of products or services
directly to final consumers
 Sales potential – the portion of market
potential where a specific company’s
brand of a product could expect to sell
under ideal conditions
 Glossary of Terms
 Services – activities or benefits that are
offered for sale. They are essentially
intangible and do not result in the ownership
of anything
 Substitutes – products that offer the buyer a
choice
 Target market – a fairly homogeneous group
of people or organizations to whom a
company wishes to appeal
 Wants - specific satisfiers of needs
 Wholesaling – refer to activities that sell to
those who buy for resale or business purpose
 References
The following materials were adopted and
referred to in this marketing reviewer.
Go, Josiah (2007), Fundamentals of
Marketing in the Philippine Setting, Josiah
Go Foundation
Mojica, Loida E. (2003), The Agribusiness
Marketing Subsystem
Mojica, Loida E. Introduction to Marketing
Management Lecture Notes
Piadozo, Ma. Eden S. (1987), Syllabus on
Agricultural Marketing