what are some core marketing concepts?
TRANSCRIPT
Stated
• The customer wants an inexpensive car
Real
• The customer wants a car whose operating cost, not initial price, is low
Unstated
• The customer expects good service from the dealer
Delight
• The customer would like the dealer to include an onboard GPS navigation system.
Secret
• The customer wants friends to see him or her as a savvy consumer
Types of needs…
Wants : Specific objects that satisfies needs.
Ex – Chapattis , yogurt , studio apartment,mineral water , cold drinks
Demands : Wants for a specific products,backed by ability to pay
Ex – Many people wants a BMW or Mercedes , but only few have a ability to pay
Positioning
Design a product or service to meet a segment’s needs and develop a marketing mix that will create a
competitive advantage in the minds of the selected target markets
Companies address customer needs by putting forth a value proposition, i.e. a set of benefits that is made physical by an Offering
Brand is an offering from a known source. All companies strive to build a brand image with as many brand association as possible.
Satisfaction : A person’ judgement of a product’s perceived
performance in relationship to
expectations
COMMUNICATION CHANNELS
This channel deliver & receive messages from the target buyers ,through :
Television , radio , newspaper , posters , telephone and the internet.
Distribution Channels
This channel is used to display, sell or deliver the physical product or services to
the user
Service Channels
To carry out transactions with potential buyers ,this channel is used that includes warehouses ,banks,
transportation & insurance companies
Competition
Competition includes all the actual and potential rival offerings and substitutes a buyer might consider.
TASK ENVIRONMENT
The actors engaged in producing , distributing and promoting the offerings.
Ex. – Company , suppliers , distributors , dealers and target customers
Broad Environment
• Demographic• Economic• Socio - Cultural
• Natural • Technological• Political-Legal
Core Marketing Concepts...
• Needs, Wants, and Demands• Target Markets, Positioning, and Segmentation• Offerings and Brands• Value and Satisfaction• Marketing Channels• Supply Chain• Competition• Marketing Environment
SUMMARY
References• Marketing Management , 14E by Kotler & Keller• www.Slideshare.net• http://www.nysatec.com/wp-content/uploads/2014/12/marketing_digital_01.png• http://ut11.net/wp-content/uploads/2014/09/ecosystem.jpg• http://content.presspage.com/uploads/1311/etude.jpg• http://www.skepticalob.com/wp-
content/uploads/2014/11/iStock_000024630531Small-e1415898045240.jpg• http://365jia.cn/uploads/14/0110/52cf3fd4c00dc.jpg• http://www.brancept.com/images/home/branding.jpg• http://cdn1.drprem.com/business/wp-content/uploads/sites/28/2014/10/business-
competition-600x330.jpg• http://cmimotors.com/uploads/posts/2015-04/1428909796_background.jpg• http://www.gtreview.com/wp-content/uploads/2014/11/Handshake-Partnership-
Agreement.jpg• http://i.cubeupload.com/jLicud.jpg
Disclaimer
These slide were created by Himank Airon , IIT-BHU during an Marketing internship by Prof. Sameer Mathur, IIM Lucknow.(see www.IIMInternship.com)