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7/23/2019 Core Concepts 1_2
http://slidepdf.com/reader/full/core-concepts-12 1/13
Need/Want/Demand• Need are the basic human requirements
– Food Clothing , air, water, shelter to survive – Recreation , Education , Entertainment
• Needs become Wants when they aredirected to specifc ob ects that mightsatisfy the Needs
– Dosa/!i""a/parantha/#eer/ – $%&/%'c/ %&/(raduate/ – Dance/$ovie/ – !arty)Food and Entertainment*
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Demand• Demand are wants +or specifc products bac ed by
– Willing to pay – &bility to pay
• - want $ercedes – &m - able and willing to buy one
• Want converted to Demand with ability to !ay• Eight Demands
– Negative Demand .pay price to avoid it – Non Existent Deman d.not interested in product – atent Demand.strong need not satisfed by e0isting product – Declining Demand.buy product less +re1uently – -rregular Demand.seasonal/monthly/wee ly/daily – Full Demand.buying all products in mar etplace – 2ver Full Demand.buy more than can be satisfed – 3nwholesome Demand.products that have undesirable social
conse1uences
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Defnition• $ar eting is creating communicating
and delivering 4alue to targetCustomer +or !roft
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Mantra of Four Ps with Four Cs
• P roduct Customer solution• P rice Cost to Customer• P lace Convenient to
cusstomer• P romotion Communicate to
customer• Winning companies are those that meet
customer needs economica y andconvenient y and with e!ectivecommunication
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5arget$ar ets/!ositioning/'egmentation
• $ar eters start up by dividing the mar et in tosegments
• -denti+y and profle distinct group o+ buyers throughdemorografc , psychographic and behavior di6erencesamong the buyers
• For every chosen mar et there is a mar et o6ering• 26erings is positioned in the minds o+ the target
mar et delivering the central benefts•
'34 'corpio. people who need study vehicle withlu0ury and com+ort• Companies do well when they choose target mar et
and care+ully prepare tailored mar eting programme
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26erings and %rand• 4alue proposition is done by o6ering
that satis+y the needs• 26erings is a combination o+
products, service, in+ormation ande0perience
• %rand is an o6erings +rom a nownsource
• %rand carries many associations inthe minds o+ the people7 &llcompanies try to build strong
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4alue &nd 'atis+action• 26erings will be success+ul i+ it gives value and satis+action• %uyer choose o6ering on the basis o+ value• 4alue -s 'elling !rice• 4alue is perceived tangible and intangible benefts and cost to customer• 4alue is Central $ar eting Concept• $ar eting is identifcation ,creation, communication,delivery, and
monitoring the customer value• We defne value as a ratio between what the customer gets / what he gives.• The customer gets benefts and assumes costs, as shown in this e1uation8• 4alue 9%enefts/Cost• %enefts9 Functional benefts : emotional benefts• Costs 9 $onetary costs: time costs: energy costs : psychic costs• 'atis+action re;ects a persons comparitive udgement resulting +rom
perceived per+ormance)outcome* in relation to the e0pectations 7• !er+ormance9e0pectation is satisfed7
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$ar eting Channels• $ar eters clearly +ace a design
problem in choosing the best mix ofcommunication" distribution" andse ing channe s +or their o!erings
• Communication Channe• Distribution #Physica and
$ervice% Channe
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Communication Channel• deliver messages to and receive messages +rom target
buyers7• 5hey include newspapers, maga"ines, radio, television,
mail, telephone, billboards, posters, ;iers, CDs, audiotapes,
and the -nternet7• %eyond these, communications are• conveyed by +acial e0pressions and clothing, the loo o+
retail stores, and many other media7• $ar eters are increasingly adding dialogue channels (e-
mail and toll- ree numbers)• to counterbalance the more normal monologue channels
(such as ads).• Social media
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Communication 5ypes
Documentation
E.mail
5ele+onic tal
Face to Face
Face to Face wt W%
E 6 e c t i v e n e s s
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Distribution Channel• to display or deliver the physical product or
service)s* to the buyer or user7• 5here are physica distribution channe s and
service distribution channe s , which includewarehouses, transportation vehicles, and various
– trade channels such as distributors, wholesalers, andretailers.
• The marketer also use selling channels to e ect
transactions with otential bu!ers.• Selling channels include not only the distributors
and retailers but also the ban s and insurancecompanies that +acilitate transactions7
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$ar eting/'elling• Focus8 Customer• $eans8 -ntegrated $ar eting !lan
encompassing!roduct,!rice,!romotion <distribution bac ed up by ade1uateenvironment scanning7
• &im8 $a0imi"e profts throughincreased consumer satis+action
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'elling• Focus8 !roduct7• $eans8 &ggressive selling < sales
promotion with emphasis on pricevariation to close the sales, motive isto hoo the customer7
• End8 $a0imi"e profts through salesma0imisation
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