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Class 2

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  • 1. KEY CONSUMER MARKETS
  • 2. Key Customer Markets  Consumer goods and services such as soft drinks and cosmetics, spend a great deal of time trying to establish a superior brand image. Consumer Markets
  • 3. Key Customer Markets  Companies selling business goods and services often face well- trained and well- informed professional buyers who are skilled in evaluating competitive offerings. Business Markets
  • 4. Business markets
  • 5. Key Customer Markets  Companies face challenges and decisions regarding which countries to enter, how to enter the country, how to adapt their products/services to the country, and how to price their products. Global Markets
  • 6.  Companies selling to these markets have to price carefully because these organizations have limited purchasing power. Nonprofit/ Government Markets Key Customer Markets
  • 7. CORE MARKETING CONCEPTS
  • 8. Core Marketing Concepts • States of felt deprivation • Physical: Food , Clothing, Warmth, Safety • Social: Belonging & Affection • Individual: Knowledge & Self Expression Needs • Form that human needs take as shaped by culture & individual personality. Wants • Human wants backed by buying power.Demand
  • 9. • Dividing the markets into segments of customersSegmentation • Which segment to go after Targets Markets • Consumer’s perception of the product.Positioning Core Marketing Concepts
  • 10. Core Marketing Concepts • Offering: Intangible Value proposition made physical by an offering. • Brand: Offering from a known source Offerings & Brands • Value: Sum of perceived tangible or intangible benefits and cost to customer. • Satisfaction: Reflects a person’s judgments of products perceived performance in relation to expectations. Value & Satisfaction • Communication Channel: • Distribution Channel • Service Channels Marketing Channels
  • 11. Core Marketing Concepts • Channel stretching from raw material to components to final products that are carried to final buyers Supply Chain • Includes all the actual and potential rival offerings and substitute a buyer might consider. Competition • Task Environment • Broad Environment Marketing Environment
  • 12. MARKETING MIX
  • 13. Marketing MIX  Marketing Mix is defined as the elements that an organization controls that can be used to satisfy or communicate with customers.
  • 14. 4 Ps of Marketing
  • 15. Product •Product Variety •Quality Level •Design •Packaging •Warranties •Product Lines •Branding •Services A product, service or idea is that which satisfies the needs & wants of the customers
  • 16. Price 1. List Price 2. Discounts & Allowances 3. Payment period 4. Credit terms Price is the amount a consumer pays in exchange for the product or service.
  • 17. Promotion Sales Promotion Advertising Sales Force Public Relations Direct Marketing Promotion activities are meant to communicate & persuade the target market to buy the company’s products.
  • 18. Place Channels Coverage Assortments Locations Inventory Transport Place represents the location where a product can be purchased.
  • 19. People Physical Evidence Process Extended 3 Ps
  • 20. People All people who directly or indirectly influence the perceived value of the product or service, including knowledge workers, employees, management and consumers.
  • 21. Physical Evidence The direct sensory experience of a product or service that allows a customer to measure whether he has received value.
  • 22. Physical Evidence  Packaging.  Internet/web pages.  Paperwork (such as invoices, tickets and despatch notes).  Brochures  Furnishings.  Signage (such as those on aircraft and vehicles).  Uniforms.  Business cards.  The building itself (such as prestigious offices or scenic headquarters).
  • 23. Process Procedures, Mechanisms and Flow of Activities which lead to an exchange of value
  • 24. 7Ps & 7Cs The 7Ps The 7 Cs Organization Facing Customer Facing Product Customer Price Cost Place Convenience Promotion Communication People Caring Process Co-ordinated Physical Evidence Confirmation
  • 25. Marketing Debate: Take a Position! Does marketing shape consumer needs? or Does marketing merely reflect the needs and wants of consumers?

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