Marketing and its core concepts

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