What are some Core Marketing Concepts?

What are some

Core Marketing Concepts?

Basic Human Requirements

Needs

Education

WantsDesire for Specific satisfier of Need

U.S. consumer Needs

Food

DemandsWant for Specific Product backed up by Ability &

Willingness to Buy

Wants Mercedes

Demand = Maruti Suzuki

SegmentationDividing the Market

into Segments

Target MarketsKnowing Greatest opportunities

PositioningDelivering some central benefit

Offerings

McDonald’s carries many associations in

people’s minds that make up its image

Brands

Making Intangible value proposition physical

Offering from a known source

Value

Person’s judgment of a product’s perceived

performance in relationship to expectation

Satisfaction

Products Capacity to satisfy needs/ wants as per

consumer’s perception or estimation.

Marketing Channels

Communication Channels Distribution Channels Service Channels

Deliver & Receive messages from Target Buyers

Communication Channels

BillboardNewspapers Telephone

Distribution Channels

Display, Sell / Deliver of Physical Product / Service(s) to Buyer / User

Telephone Wholesaler Internet

Service Channels

Bank

Insurance Companies

Transport Companies

Warehouses

Supply Chain

Final Buyer

Raw Materials

Components

Finished Products

CompetitionActual &

Potential rival offerings &

substitutes a buyer might

consider

Marketing Environments

Task Environment

Broad Environment

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