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Fundamental of Marketing
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Fundamental of Marketing

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Fundamental of Marketing Fundamental of Marketing Presentation Transcript

  • MARKETING
  • Introduction
    • ‘ Marketing is the management process that identifies, anticipates and satisfies customer requirements profitably’ ( The Chartered Institute of Marketing)
    • ‘ Marketing is a social and managerial process by which individuals and groups obtain what they want and need through creating, offering and exchanging products of value with others’ (Kotler,1991)
  • Marketing Process
    • Under the marketing concept, the firm must find a way to discover unfulfilled customer needs and bring to market products that satisfy those needs.
    • The process of doing so can be modeled in a sequence of steps:
  • Con’t Medium of Marketing
    • Mass Media
      • Electronic ( Internet, Social Media etc.)
      • Printed (News paper, Magazine, Billboard etc.)
  • Con’t Marketing Mix
    • Product (Nature of product)
    • Price (Value for the product)
    • Promotion (Advertising)
    • Place (Distribution)
  • Market Segmentation
    • Geographic Segmentation (nations, states, regions, cities)
    • Demographic Segmentation (gender, income, age, occupation)
    • Psychographic Segmentation (social class, lifestyle, personal characteristic)
    • Behavior Segmentation (knowledge, use, respond)
    • (Kotler, Bowen, and Makens, 2006)
  • Developing New Product and Services
    • Product
    Product Item Product Line Product Mix A specific version of an organization’s products. A group of closely-related product items. All products that an organization sells.
  • Con’t
    • Characteristic of Service
    Intangibility Inseparability Heterogeneity Perishability cannot be touched, seen, tasted, heard, or felt in the same manner as goods. A characteristic of services that allows them to be produced and consumed simultaneously. A characteristic of services that makes them less standardized and uniform than goods. A characteristics of services that prevents them from being stored, warehoused, or inventoried.
  • Con’t Stages in New Product Development