CoreMarketing

Concepts

NeedsBasic Human Requirements

WantsNeeds when directed to specific objects that

satisfy the need

DemandsThese are the wants for the specific products that are backed by an ability & willingness to

buy them

Most of us wants this …

But demand for this …

Segmentation

SegmentationMarket segmentation is a marketing strategy which involves dividing a broad target marketinto subsets of consumers, businesses, or countries who have, or are perceived to have, common needs, interests, and priorities, and then designing and implementing strategies to target them.

Target Markets

Target Markets

A target market is a group of customerstowards which a business has decided to aim its marketing efforts and ultimately its merchandise. A well-defined target market is the first element to a marketing strategy.

Offeringsand

Brands

OfferingsThis can be made putting forward a value proposition, a set of benefits that satisfy those needs, can be a combination of products, services, information and experiences.

BrandsA brand is an offering from a known source.

ValueIt is the sum of tangible and intangible benifitesand costs to a buyer.

SatisfactionIt reflects a person’s judgment of a product’s perceived performance in relation to the expectations.

Communication Channels

Distribution Channels

Service Channels

Supply Chain

Competition

Task Environment

Broad Environment

Presentation by

YASH SHARMA(IIT BHU)

(during a summer intern under Prof. Sameer Mathur,

IIM Lucknow)

RECAP

1) Needs, Wants, and Demands2) Target Markets, Positioning, and

Segmentation3) Offerings and Brands4) Value and Satisfaction5) Marketing Channels (communication,

distribution, and service)6) Supply chain7) Competition8) Marketing Environment (task and broad)