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    Understanding Marketing

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    Mahesh Yadav
    This document summarizes key concepts from a marketing chapter, including: 1. Definitions of market, marketing, and marketing management, as well as an overview of different types of markets. 2. Explanations of core marketing concepts like needs, wants, demands, value, exchange, products, services, and relationships. 3. Descriptions of five historic marketing philosophies - production, product, selling, marketing, and societal marketing concepts. 4. An introduction to the learning objectives of understanding what a market is, defining marketing and marketing management, and outlining core marketing concepts and philosophies.

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    Understanding Marketing

    Uploaded by

    Mahesh Yadav
    34 views35 pages
    This document summarizes key concepts from a marketing chapter, including: 1. Definitions of market, marketing, and marketing management, as well as an overview of different types of markets. 2. Explanations of core marketing concepts like needs, wants, demands, value, exchange, products, services, and relationships. 3. Descriptions of five historic marketing philosophies - production, product, selling, marketing, and societal marketing concepts. 4. An introduction to the learning objectives of understanding what a market is, defining marketing and marketing management, and outlining core marketing concepts and philosophies.

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    This document summarizes key concepts from a marketing chapter, including: 1. Definitions of market, marketing, and marketing management, as well as an overview of different types of markets. 2. Explanations of core marketing concepts like needs, wants, demands, value, exchange, products, services, and relationships. 3. Descriptions of five historic marketing philosophies - production, product, selling, marketing, and societal marketing concepts. 4. An introduction to the learning objectives of understanding what a market is, defining marketing and marketing management, and outlining core marketing concepts and philosophies.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    34 views35 pages

    Understanding Marketing

    Uploaded by

    Mahesh Yadav
    This document summarizes key concepts from a marketing chapter, including: 1. Definitions of market, marketing, and marketing management, as well as an overview of different types of markets. 2. Explanations of core marketing concepts like needs, wants, demands, value, exchange, products, services, and relationships. 3. Descriptions of five historic marketing philosophies - production, product, selling, marketing, and societal marketing concepts. 4. An introduction to the learning objectives of understanding what a market is, defining marketing and marketing management, and outlining core marketing concepts and philosophies.

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    Chapter 1 Understanding Marketing

    The future is not ahead of us. It has already happened.


    Philip Kotler

    The learning objectives:


    What is Market? What is Marketing and marketing management? Marketing core Concepts Marketing management philosophies

    1. Market
    Market means that customers who have purchased or want to purchase a certain product or service.

    Market = population+ Purchasing Power + Purchasing Need


    Examples: How to understanding the market of purified water what is the market of Nike?

    Market = population+ Purchasing + Purchasing Need

    Power

    Examples: How to understand the market of purified water what is the market of Nike?

    Market
    Consumer Market Business Market Global Market Nonprofit and Government Markets

    Consumer Market
    The aim of buying is to consume for their own or somebody who has something to do with in consumer market.

    Business Market
    Business buyers buy goods for their utility in enabling them to make or resell a product to others for the purpose of making profits.

    Global Market
    Companies selling their goods and services in the global marketplace face additional decisions and challenges.

    Nonprofit and Government Markets


    Companies selling their goods to nonprofit organizations such as churches, universities, charitable organizations, or government agencies.

    2. Marketing
    Is the process of planning and executing the conception,pricing,promotion,and distribution of ideas,goods,services to create exchanges that satisfy individual and organizational goals.

    The Scope of Marketing


    Goods Experience Persons Properties Information Services Events Places Organizations Ideas

    Target Market and Segmentation


    the relationship between the industry and market Marketplace & Marketspace five basic markets

    The relationship between the industry and Market

    industry

    market

    Marketplace and Marketspace


    Marketplace is physical, as when one goes shopping in a store, Marketspace is digital, as when someone shopping on the internet.

    Five Basic Market


    (figure 1.2 P9)

    Manufacturer markets Resource markets Government markets Intermediary markets Consumer markets

    Marketing management
    The analysis, planning, implementation, and control of programs designed to create, build, and maintain beneficial exchanges with target buyers for the purpose of achieving organization objectives

    3. Marketing core concepts


    Needs, want, and demands value and satisfaction Exchange and transaction Product and service Relationship

    Needs, Want, and Demands


    Needs describe basic human requirements. Want are shaped by ones society. Demands are wants for specific products backed by ability to pay.

    Demand States and Marketing Tasks


    Negative demand No demand Latent demand Declining demand Irregular demand full demand Overfull demand Unwholesome demand

    Value and satisfaction


    Benefits
    functional benefits emotional benefits

    Costs
    Monetary costs Time costs Energy costs Psychic costs

    Value and satisfaction


    benefits Value = ----------------costs

    Discussion
    How to increase the value ? How to compare the value?

    Exchange and transaction


    Exchange is the act of obtaining a desired object from someone by offering something in return. transaction is a trade between two parties that involves at least two things of value, agreedupon conditions a time of agreement, and a place of agreement.

    Relationship marketing
    The process of creating, maintaining, and enhancing strong, value-laden relationships with customers and other stakeholders.

    Product and service


    Product---Anything that can be offered to a market for attention, acquisition, use or consumption that might satisfying a want or need. It includes physical objectives, services, persons, places, organizations and ideas. Service--- any activity or benefit that one party can offer to another that is essentially intangible and does not result in the ownership of anything.

    4.marketing philosophies
    The production concept The product concept The selling concept The marketing concept The societal marketing concept

    The production concept


    the production concept holds that consumers will prefers products that are widely available and inexpensive.

    The product concept


    The product concept holds that consumers will favor those products that offer the most quality,performance,or innovative features.

    The selling concept


    The selling concept holds that consumers and businesses, if left alone, will ordinarily not buy enough of the organizations products. The organization must, therefore, undertake an aggressive selling and promotion effort

    The marketing concept


    The marketing concept holds that the key to achieving its organizational goals consists of the company being more effective than competitors in creating,delivering,and communicating customer value to its chosen target markets

    Megatrends----John Naisbitt
    the booming global economy A renaissance in the arts The emergence of free-market socialism Global lifestyles and cultural nationalism The privatization of the welfare states The rise of the Pacific Rim The decade of women in leadership The age of biology The religious revival of the new millennium The triumph of the individual

    The societal marketing concept


    The societal marketing concept holds that the organizations task is to determine the needs, wants,and interests of target markets and to deliver the desired satisfaction more effectively and efficiently than competitors in a way that preserves or enhances the consumers and the societys well-being.

    Discussion
    Whats your opinion about the 5 five concepts? Do you think the production concept is outdate

    Case Discussion
    Reading Discussion

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