Core Concepts 1_2

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*



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



Defnition• $ar eting is creating communicating

and delivering 4alue to targetCustomer +or !roft



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



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



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



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



$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



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



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



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



$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



'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

Documents

Core Concepts 1_2