Summary of Chapter1. Defining Marketing for 21st Century from Kotler

1. Core
Marketing
Concepts

2. Needs
Basic Human Requirements

3. Wants
Needs when directed to specific objects that
satisfy the need

4. Demands
These are the wants for the specific products
that are backed by an ability & willingness to
buy them
Most of us wants
this …
But demand
for this …

5. Segmentation

6. Segmentation
Market segmentation is a marketing strategy
which involves dividing a broad target market
into subsets of consumers, businesses, or
countries who have, or are perceived to have,
common needs, interests, and priorities, and
then designing and implementing strategies to
target them.

7. Target Markets

8. Target Markets
A target market is a group of customers
towards which a business has decided to aim its
marketing efforts and ultimately its
merchandise. A well-defined target market is
the first element to a marketing strategy.

9. Offerings
and
Brands

10. Offerings
This can be made putting forward a value
proposition, a set of benefits that satisfy those
needs, can be a combination of products,
services, information and experiences.

11. Brands
A brand is an offering from a known source.

12. Value
It is the sum of tangible and intangible benifites
and costs to a buyer.

13. Satisfaction
It reflects a person’s judgment of a product’s
perceived performance in relation to the
expectations.

15. Communication
Channels

16. Distribution
Channels

17. Service Channels

18. Supply Chain

20. Competition

22. Task
Environment

23. Broad
Environment

24. Presentation by
YASH SHARMA
(IIT BHU)
(during a summer intern under
Prof. Sameer Mathur,
IIM Lucknow)

25. RECAP
1) Needs, Wants, and Demands
2) Target Markets, Positioning, and
Segmentation
3) Offerings and Brands
4) Value and Satisfaction
5) Marketing Channels (communication,
distribution, and service)
6) Supply chain
7) Competition
8) Marketing Environment (task and broad)