mm need want demands
Post on 23-Oct-2014
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Marketing Management -Rajesh Satpathy
Marketing Process
A simplified model of Marketing Process
Understandthe
Marketplace n
Customer needs
and wants
Design a
customer driven
marketing strategy
Constructan
Integrated marketing program
that delivers superior
value
Build profitable
relationships n
create customer
delight
Capture value from
Customers to create
Profits n
customer equity
Create value for customers
n
build customer relationship
Capture value
from
customers in return
Marketing Process
In this five step model of the marketing process, the 1st four steps companies work to understand consumers, create customer value n build strong customer relationships.
In the final step, companies reap the rewards of creating superior customer value.
By creating value for consumers, firms in return capture value from consumers in the forms of sales, profits n long term customer equity.
Dabur Lal Taila
Dettol Antiseptic Liquid
Five core Concept
1. Needs, Wants n Demands
Needs: It’s a state of felt deprivation.
Wants: The form human needs take as shaped by culture and individual personality.
Demands:Human wants that are backed by buying power.
Eg: SMART Mobile phones, Racing Bikes
Five core Concept
Physiological Needs(Food, Water, Air, Shelter, Sex)
Safety and Security Needs(Protection, Order, Stability)
Social Needs(Affection, Friendship, Belonging)
Ego Needs(Prestige, Status, Self-respect)
Hierarchy of Needs by Abraham Maslow
Self-Actualization
(Self-fulfillment)
A modern interpretation of Maslow's hierarchy of needs, represented as a pyramid with the more basic needs at the bottom.
Marketing Process
The most basic concept underlying marketing is that of human needs. Human needs are states of felt deprivation. They include basic physical needs for food, clothing, warmth n safety… Social needs for belonging n affection and individual needs for knowledge n self expression.
These needs were not created by marketers, they are a basic part of human makeup.
: : 5 types of Needs : :1. Stated needs (wants for an low cost car) 4. Delight needs
(Free Music System)
2. Real needs (low in operating cost) 5. Secret needs (Need People attention)
3. Unstated needs (good service from local dealer)
Marketing ProcessNeeds:Consumers are motivated by their desire to satisfy complex needs, and these should be the starting point for all marketing activity. We no longer live in a society in which the main motivation of individuals is to satisfy the basic needs for food and drink.
Maslow (1943) recognized that, once individuals have satisfied basic physiological needs, they may be motivated by higher-order social and self-fulfillment needs.
‘Need’ refers to something that is deep-rooted in an individual’s personality. How individuals go about satisfying that need will be conditioned by the cultural values of the society to which they belong.
NEED??
Video: Cartier Ballon de Bleu Flying Tourbillon Mens Watch
Brand Cartier
Model number W6920001
Gender Mens
Series Ballon de Bleu Flying Tourbillon
Watch Style Luxury
Movement Manual winding
Engine Cartier calibre 9452-MC, power reserve 50 hours
Functions Tourbillon, Hour, Minute
Case Material 18K Pink Gold
Case Shape Round
Case Diameter 46mm
Case Thickness 12.9mm
Case Back Transperant Scratch resistant sapphire
Crown Circular-grained crown set with a sapphire cabocho
Bezel Fixed
Dial Color Slate-colored galvanic guilloche
Dial Type Analog
Dial Markers Roman numerals
Hands Sword-shaped blue steel
Bracelet Brown alligator
Clasp Dual adjustment folding
Water Resistant 30 meter / 100 feet
Crystal Scratch resistant sapphire
Watch Label Swiss Made
Warranty 2 Year Jomashop Warranty
Price in Indian RupeeRs. 4,82,5000/-
Marketing Process
Some basic human needs n how people may satisfy them!!
Marketing Process
Many consumers do not know what they want in a product!!!
Eg: When Nokia and Ericsson introduced mobile phones in the market, they didn’t know much about customer needs n wants so as the customers.
Marketing Process
Wants are the form human needs shaped by culture and individual personality. Wants are shaped by one’s society and are described in terms of objects that will satisfy needs.
When these wants backed by buying power wants become Demands.
Given their wants and resources, people demand products with benefits that add up to the value and satisfaction.
Marketing Process
Market Offering
What is Market offering?
“Some combination of products, services, information or experiences offered to a market to satisfy a need or want”.
Consumers’ needs and wants are fulfilled through a market offering… market offering are not limited to physical products.
NEED?? Video: Cadbury
Thank You!
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