Defining Market For

The 21st Century

Rahee Hardaha

WhatAre some Core

Concepts of Marketing

??

Needs

Want

NEED Rice , Chapatti , Curries etc.

WANT

Demand

What people want

Demand is What people are able to buy

Target, Positioning and segmentation

Segmentation Target positioning

Offerings and Brands The intangible value proposition (e.g. burger, cleanliness , convenience, service) is made physical by an

offering.

A brand(e.g.

McDonald’s) is an offering from known source.

Marketing Channels

Communication Channelsdeliver and receive message from target buyers.e.g. newspaper, magazine, billboards, internet

Distribution ChannelsDisplay, sell or deliver the physical products

e.g. distributor, retailer, whole seller or internet

Service channelsTo carry out the transactions.e.g. Transportation companies, warehouse, banks

Supply chain

Competition

Actual and potential rival offerings and substitutes that buyer might consider

Marketing Environment

Task Environmentsuppliers, distributors, dealers and target customers

Broad Environment Demographic, economic, social-cultural, technological, natural and political-legal environment

Created by Rahee Hardaha,IIT Delhi, during an internship by Prof. Sameer Mathur, IIM Lucknow.

www.IIMInternship.com