principles of marketing some basics concepts.

1. Principles of marketing
Rahman shah
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rahmanshahg@gmail.com

2. What is marketing?
 What does the term marketing mean? Many people think that is marketing
only as selling and buying.
 In old sense marketing means telling and selling, but today marketing means
satisfying customer needs.
 Marketing is process of identify the needs and wants of customers/consumers
and fulfill it through product and service.
 Meeting the customers needs profitability.
 According to philip kotler marketing as the process by which companies
create value for customers and build strong customer relationships in order to
capture value from customers in return

3. Marketing process

4. Core marketing concepts

5. Needs, wants and demands
 Needs: “Needs” is the basic human requirements like shelter,
clothes, food, water, etc. which are essential for human beings to
survive.
 Wants: "Wants" are a step ahead of needs Wants aren’t
essential for humans to survive, but it’s associated with needs
Simply put, A want is a product desired by a customer that
is not required for us to survive. So, want is the complete
opposite of need, which is essential for our survival.
 Demands : Wants turn to be Demands when a customer is
willing and having the ability to buy that needs or wants. The
basic difference between wants and demands is desire.

6. Continue…

7. The market offering – products, services
and experiences
 The market offering: some combination of products, services, information, or
experiences
 offered to a market to satisfy a need or want.
 Product: A product is a tangible item that is put on the market for selling and
buying, attention, or consumption. Mobile, computer, car
 Services: while a service is an intangible item, which arises from the output of
one or more individuals. Hotel, university, barber .

8. Value, satisfaction and delight
 Customer value is the difference between the values the customer gains
from owning and using a product and the costs of obtaining the product. For
example, Mercedes-Benz customers gain a number of benefits.
 Customer satisfaction—The extent to which a product’s perceived
performance matches a buyer’s expectations.
 If performance exceeds expectations, the buyer is delighted.

9. Exchange, transactions and relationships
 Exchange is the act of obtaining a desired object from someone by offering something
in return. Exchange is only one of many ways people can obtain a desired object. For
example, hungry people can find food by hunting, fishing or gathering fruit.
 A transaction consists of a trading of values between two parties: one party gives X to
another party and gets Y in return. For example, you pay a retailer a5,000 for a plasma
TV or a hotel a120 a night for a room.

10. Relationship marketing
 Relationship marketing Beyond creating short-term transactions, smart marketers work
at building long-term relationships with valued customers, distributors, dealers and
suppliers.
 Market: Originally, the term market stood for the place where buyers and sellers
gathered to exchange their goods,