50280854 Marketing Concepts PPT

8/3/2019 50280854 Marketing Concepts PPT

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MINAL SINGH

Marketing in a Changing World: Creating CustomerValue and Satisfaction

PRINCIPLES OF MARKETING


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What is Marketing?

Marketing consists of all the activities designed togenerate and facilitate any exchange intended tosatisfy human needs or wants

Marketing is the delivery of customer satisfaction ata profit.


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Core Marketing Concepts

Productsand

Services

Value, satisfaction,and quality

Needs, wants,and demands

Exchange, transactions,and relationships

Markets

CoreMarketingConcepts


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What Motivates a Consumer to Take Action?

Needs - state of felt deprivation for basic items such asfood and clothing and complex needs such as forbelonging. i.e. I am thirsty

Wants - form that a human need takes as shaped byculture and individual personality. i.e. I want a Coca-Cola.

Demands - human wants backed by buying power. i.e.I have money to buy a Coca-Cola.


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What Will Satisfy Consumers Needs and Wants?

Products - anything thatcan be offered to amarket for attention,

acquisition, use orconsumption and thatmight satisfy a need orwant.

Examples: persons,places, organizations,activities, and ideas.

Services - activities orbenefits offered for salethat are essentially

intangible and dontresult in the ownership ofanything.

Examples: banking,

airlines, haircuts, andhotels.


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How Do Consumers Choose Among Products and Services?

Customer Value - benefit that the customer gains

from owning and using a product compared to the cost

of obtaining the product.

Customer Satisfaction - depends on the products

perceived performance in delivering value relative to a

buyers expectations. Linked to Quality and TotalQuality Management (TQM).


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How do Consumers Obtain Products and Services?

Exchanges - act of obtaining a desired object from someone byoffering something in return.

Transactions - trade of values between parties. Usually involves

money and a response.

Relationships - building long-term relationships with

consumers, distributors, dealers, and suppliers.


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Who Purchases Products and Services?

Market - buyerswho share a

particular needor want that canbe satisfied by a

companys productsor services.

ActualBuyers

PotentialBuyers


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Modern Marketing System

Suppliers

End UserMarket

MarketingIntermediaries

CompetitorsCompany(Marketer)

Environment

Environme

nt


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Marketing Management Philosophies

Production Concept

Product Concept

Selling Concept

Marketing Concept

Societal Marketing Concept

Consumers favor products that areavailable and highly affordable

Improve production and distribution

Consumers favor products that offerthe most quality, performance, and

innovative features

Consumers will buy products only ifthe company promotes/ sells theseproduct

Focuses on needs/ wants of target

markets & delivering satisfactionbetter than competitors

Focuses on needs/ wants of targetmarkets & delivering superior value

Societys well-being


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Marketing & Sales Concepts Contrasted

FactoryExistingProducts

Sellingand

Promoting

Profitsthrough

Volume

MarketCustomer

Needs

IntegratedMarketing

Profitsthrough

Satisfaction

The Selling Concept

The Marketing Concept

StartingPoint

Focus Means Ends


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Integrated Marketing

Marketing Mix

Product price promotion Place


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4 Ps concept contd

Product Price Promotion PlaceProduct variety List Price Sales Promotion Channels

Quality Discounts Advertising Coverage

Design Allowances Sales Force Assortments

Features Payment Period Public Relations LocationsBrand Name Credit terms Direct Marketing Inventory

Packaging Transport

Sizes

Services

WarrantiesReturns


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4Ps N 4Cs concept.

Four Ps Four Cs

(sellers view) (buyers view)

Product Customer solution

Price Customer cost

Place ConveniencePromotion Communication


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EmergingChallenges

NonprofitMarketing

New

MarketingLandscape &InformationTechnology

EthicalConcerns Globalization

ChangingWorld

Economy

New Marketing Challenges

50280854 Marketing Concepts PPT

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