1) Physiological Needs 2) Security and Safety

3) Social Needs
4) Ego 5) Self Actualization

-Wants for a specific products that are backed with an ability and willingness to buy them -Wants become demand when supported by purchasing power -to ask for a right -to claim -a desire or ability to buy

 Marketers do not create needs; needs exist because marketers do.

An estimate of the capacity of each product |( goods or services) -precise significance -to rate at certain point -to estimate -desirability or worth of a thing

The equivalent amount to obtain the product. The intended buyer will consider the products value and price before making a choice. -to be bought for -to be obtainable at a given price

The act of obtaining a desired product for someone by offering something in return.

1. There are at least two parties. 2. Each party has something that might be of value to the other party.

3. Each party is capable of communication, commitment and delivery

4. Each party is free to accept and reject the other 5. Each party believes that its appropriate or desirable to deal with the other party.

Marketing in its broadest sense is a transaction. Transaction being the basic unit of exchange must satisfy the criteria of at least two things of value, agreements with respect to terms, time frame, venue and legal aspects to firmly bind the transactions.

Smart marketers try to build up a long term, trusting win-win relationship with valued customers accomplished by promising high quality products, good service and fair prices over time.

1) Salesperson in charge must have a continuous open communication line with the target customers

2) 2)Salesperson does telephone contacts or any form of messaging with the client from time to time
3) The company through the salesperson and his immediate supervisor works hand in hand with the customer. 4) The company supports the salesperson

Anything that can be offered to target client to satisfy a need or want.

Physical Objects Places Activities Persons

Organization
Idea Service

Consists of all the potential customers sharing a particular need or want who might be willing and able to engage in exchange to satisfy that need or want. However, a market for an average Manilan may mean either Divisoria, Baclaran, Tutuban Center and etc., but these are better called marketplaces.