B.Com 07-11, Lecture 2 Core Marketing Concept
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B.Com 07-11, Lecture 2 Core Marketing Concept

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Subject: Marketing

Subject: Marketing
Teacher: Hafiz Ahsan
Class: Bcom 5th (2007-2011)
Uploaded by: Saad Ahmad (BC07002)

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    B.Com 07-11, Lecture 2 Core Marketing Concept B.Com 07-11, Lecture 2 Core Marketing Concept Presentation Transcript

    •  
    • Marketing (Philip Kotler)
      • Marketing is a social and managerial process whereby individuals and groups obtain what they need and want through creating and exchanging products and values with others.
    • Core Marketing Concepts
    • Core Marketing Concepts
    • Core Marketing Concepts
      • Need
      • State of felt deprivation.
      • Want
      • Need shaped by culture and individual personality.
      • Demand
      • Want backed up by the purchasing power.
    • Core Marketing Concepts
    • Core Marketing Concepts
      • Product and Services
      • Anything that can be offered in a market for attention, acquisition, use or consumption and that may satisfy a need or want .
    • Conti…
      • It Includes:
      • Physical Goods
      • Services
      • Places
      • People
      • Organization
      • Activities
      • ideas
    • Core Marketing Concepts
    • Conti…..
      • Value
      • “ The difference between benefit the customer from owing and using a product and cost of obtaining the product.”
      • Satisfaction
      • “ Satisfaction depends on how well product performance lives up to the customer expectations.”
    • Core Marketing Concepts
    • Conti…..
      • Exchange
      • Exchange is the process of obtaining the desired product from someone by offering something in return.
      • Prerequisites of Exchange:
      • At least two parties
      • Something of value to offer each other
      • Willing to exchange
      • Free to accept or reject
      • Able to communicate and deliver
    • Conti…..
      • Transaction
      • A trade between two parties that involve
      • At least two things of value
      • Agreed upon the condition
      • A time of agreement and place of agreement
      • May be Monetary or Barter
    • Core Marketing Concepts
    • Conti…..
      • Market
      • A set of actual and potential buyer of product.
      • A place.
      • Marketing satisfies the needs of markets by facilitating the exchange process.
      • Competitors
      Suppliers Company (Marketers) Marketing Intermediaries End User Marketers Environment