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Class 2

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Class 2

  1. 1. KEY CONSUMER MARKETS
  2. 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. 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. 4. Business markets
  5. 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. 6.  Companies selling to these markets have to price carefully because these organizations have limited purchasing power. Nonprofit/ Government Markets Key Customer Markets
  7. 7. CORE MARKETING CONCEPTS
  8. 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. 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. 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. 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. 12. MARKETING MIX
  13. 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. 14. 4 Ps of Marketing
  15. 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. 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. 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. 18. Place Channels Coverage Assortments Locations Inventory Transport Place represents the location where a product can be purchased.
  19. 19. People Physical Evidence Process Extended 3 Ps
  20. 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. 21. Physical Evidence The direct sensory experience of a product or service that allows a customer to measure whether he has received value.
  22. 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. 23. Process Procedures, Mechanisms and Flow of Activities which lead to an exchange of value
  24. 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. 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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