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



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