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What are some Core Marketing Concepts?

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Sameer Mathur
Sameer Mathur

These slides are based on Chapter 1 of 'Marketing Management' by Kotler Keller

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What are some Core Marketing Concepts?
Basic Human Requirements Needs Education
Wants Desire for Specific satisfier of Need U.S. consumer Needs Food
Demands Want for Specific Product backed up by Ability & Willingness to Buy Wants Mercedes Demand = Maruti Suzuki
Segmentation Dividing the Market into Segments
Target Markets Knowing Greatest opportunities
Positioning Delivering some central benefit
Offerings McDonald’s carries many associations in people’s minds that make up its image Brands Making Intangible value proposition physical Offering from a known source
Value Person’s judgment of a product’s perceived performance in relationship to expectation Satisfaction Products Capacity to satisfy needs/ wants as per consumer’s perception or estimation.
Marketing Channels Communication Channels Distribution Channels Service Channels
Deliver & Receive messages from Target Buyers Communication Channels Billboard Newspapers Telephone
Distribution Channels Display, Sell / Deliver of Physical Product / Service(s) to Buyer / User Telephone Wholesaler Internet
Service Channels Bank Insurance Companies Transport Companies Warehouses
Supply Chain Final Buyer Raw Materials Components Finished Products
Competition Actual & Potential rival offerings & substitutes a buyer might consider
Marketing Environments Task Environment Broad Environment
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