marketing and its core concepts
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Marketing and its core conceptsTRANSCRIPT
Presented By..Anoop Vasu
Marketing and its core concepts
What is marketing management?Marketing management is the art and science of choosing target market s and getting, keeping and growing customers through creating , delivering and communicating superior customer value.
Marketer and prospect
Marketer is some one who seek a response from another party
A responded party is called prospect
What is Marketed?
Goods Places Services Properties Events Organizations Experiences Information Persons Ideas
Key customer market
Consumer markets Business markets Global markets Non profit/ government
markets
Marketspaces, marketplaces & Metamarket
marketplace is physical such as a store you shop in
marketspace is digital, as when you shop on the internet
Metamarket is a cluster if complement products and services that are closely related in the minds of consumers but are spread across a diverse set of industries
Core Concepts of Marketing Targeting, Positioning & SegmentationNeeds, Wants, and Demands
Offering and branding
Value and Satisfaction
Marketing Channels
Supply Chain
Competition
Marketing Environment
SegmentationMarket segmentation involves grouping your various customers into segments that have common needs or will respond similarly to a marketing action
PositioningArranging for a product to occupy a clear, distinctive and desirable place relative to competing products in the minds of target consumers
Targeting, Positioning & Segmentation
NEED/ WANT/ DEMAND…
Need: It is state of deprivation of some basic satisfaction. Example- food, clothing, safety,
shelter
Want: Desire for specific satisfier of
need.Example- Indians
needs food - wants paneer tikka/ tandoori
chicken. Americans needs food-wants
hamburger/ French fries.
Demand: Want for a specific product
backed up by ability and
willingness to buy Example- Neal - transportation.
Marketers cannot create needs. Needs preexists. Marketers can influence wants. This is done in combination with societal influencers.
Offering and brands…
Offering:Some combination of products,
services, information or experiences offered to a market
to satisfy a need or want
Brand:Is an offering from a known
source
VALUE/ SATISFACTION
ValueValue is products capacity to satisfy needs/ wants as per consumer's perception
or estimation
SatisfactionPerson's feelings of
pleasure or disappointment resulting from comparing a
product's perceived performance in relation to his or her expectations
Supply Chain
Supply Chain is a longer channel stretching from raw materials to components to finished products carried to final buyers
Marketing channel
Communication
channel
Distribution
channel
Service channel
Competition…
Includes all the actual and potential rival offerings and substitutes a buyer might consider
Marketing environment…
The market environment is a marketing term and refers to factors and forces that affect a firm's ability to build and maintain successful relationships with customers
Types ..1) Task environment
2) Broad environment
Thank You