Marketing short notice

1. What is marketing?
Market is the process of create service or product and build strong relationship with and
order to capture value in return.
Five core concept ?
1. Needs, wants and demand
2. Market offering
3. value and Satisfaction
4. Exchange relationship
5. markets
Market process ?
 Understand the customer need, wants and demand and marketplace
 Design a customer market strategy
 Build superior value for customer
 Profitable relationship
 Capture value in return
Needs?
Needs is state of deprivation basic requirement of human being
Ex(foods, shelter, clothes ,
Wants?
when needs is shaped by you become wants its related to cultural and your personality.

2. Demand :demand is desire state supporting by power. Ex( BMW and AUDI.
Market : the set of actual and potential buyer of product and service is known as
market . ex ( website, online , shops etc)
Exchange : the act of obtaining a desire state of object from and offering some think
in return. Ex(I go to the restaurant i order my meal and eat my meal and I pay its
from credit card .
Market offering : marketing offering are some combination of service, product,
experience and information offered to market to satisfy customer needs and wants.
Ex( such as life insurance, funeral insurance so on)
Market myopia : marketing focus on needs of company instead of defining the
company its product in term of customer needs and wants. Ex(Nokia losing its market
share to android .
Value and satisfaction : marketer set the right level of expectation not to high not to
low
The relationship between value and satisfaction is that when a person values
something , they feel like more satisfy when they obtain or achieve it.
Ex(if a person values financial security, they may feel more satisfied when they
achieve a high paying job)

3. Design Marketing driven strategy?
After fully understand the consumer and marketplace, marketing management can design a customer
driven strategy.
Marketing management ?
Is the art and science of choosing target market and building strong customer relation with them.
What customer will we serve?
How we serve these customer?
Selecting customer to serve?
We cant serve all the customer. By trying this we may not serve well so we select few groups or
segmentation.
Market segmentation?
Refers to dividing the markets into segmentation of customer based on customers needs and behaviour,
characteristic.
Target market :
Refer to which segment of customer the company go after. Based on customer needs behaviour.
Demarketing : company may practice demarketing to reduce the number of customer or to shift the
temporarily or
Permanently. Ex( in summer demand of electricity increase and many power of companies have troubled
meeting the demand during peak usage period.
Value proposition: is the set of benefit or value company promise to deliver to customer to satisfy their
needs.
This how company differentiate and position its self in the market.
BMW promises : the ultimate driving machine
Nokia promises : to connect people

4. ■ Production concept
The idea that consumer will favour product
that are available and highly affordable and
organization focus on improving production.
Ex( standard raw material and component CD
and LCD.
Selling concept:
The idea that consumer will not buy enough
of the firm product unless and undertakes
large scale of selling and promoting efforts.
Ex( insurance policies, funeral plot.
Social concept : the idea that company will
consider consumer needs and company
requirement, consumer long run interest and
long run interest.
Ex( adidas is the one of the top leading
sportswear company in the world adidas
committed to manufacture product over
and over again.
■ Product concept
The idea that consumer will favour product
that offer the most quality, highly
performance and features. Organization
focus on continuous improving product.
Ex the phones ( such as apple and vivo)
Laptops apples and Hp.
Market concept:
The marketing that achieving organization
goals to knowing need and wands of target
consumer to satisfy them better than
competitor do .
Ex (dell sell customize product)

5. Market integrate plan and programme?
market develop an integrate marketing program that will actual deliver value to a target market.
This program built customer relation by transferring marketing strategy into action.
This market consist four major tool of mix market.
Product: the firms must first create need of market offering. Ex(McDonalds provide fast food in casually
setting
Price: the cost of the product or service.
Place : refer to where consumer buy you product or how to buy your product. Ex(smartphone, at retail
location )
Promotion : firm must communicate their target market ex( ads, through social platforms)
Building customer relationship?
The overall of process building and maintain profitable relationship by delivering superior value of customer.
Capture value ?
the final step involve capture value in return in form current and future sales.
Customer loyalty :
Create customer delight providing superior value in return they will remain loyal and talk favourable to
others. ex( Starbucks reward program to each purchase brings customer to close free drinks and food.
Create customer retention
By special offer so they provide value of life time.
Customer life time value : the value of entire purchase that customer would make over of lifetime of
support.