Defining Market for 21st Century by Kotler

2. Core Marketing Concepts cover:
• Needs, Wants and Demands
• Target Markets, Positioning and
Segmentation
• Offerings and Brands
• Value and Satisfaction
• Marketing Channels
• Supply Chain
• Competition
• Marketing Environment

3. Needs, Wants, and Demands:
• Needs are basic human
requirements like food, air, water,
clothing, shelter, education, etc.
• Needs become Wants when they are directed to
specific objects that might satisfy the need.
• Demands are wants for specific products
backed by an ability to pay.

4. Purpose: Transportation To Office
Need: Public Transport
Want: Mercedes Car
Demand: Drive in Mercedes
Car

5. Target markets, Positioning and
Segmentation:
• Marketers start by dividing markets
into segments.
• Next step is to identify the market
segment with greater
opportunities as
target market.
• The firms develop market offerings that it
positions in the minds of target buyers as
delivering some central benefit(s).

6. Offering and Brands:
• Companies address customer needs by putting forth
a value proportion, set of benefits that satisfy those
needs.
• The intangible value proportion is made physical by
an offering (products, services, experiences).
• A brand is a offering from a known source.

7. Value and Satisfaction :
• Value, a central marketing
concept, is primarily combination
of quality, service and price(qsp),
called the customer value triad.
• Satisfaction reflects person’s judgement of
product perceived performance in relationship to
expectations.

8. Marketing Channels:
To reach the Target Markets firms use different
marketing channels,
• Communication Channels deliver and receive
messages from target buyers.
• Marketers use distribution channel to display,
sell, or deliver the physical product or service to
buyer or user.
• To carry out transactions with potential buyers,
the marketer uses service channel.

9. Supply Chain:
The supply chain is a longer chain stretching
from raw materials to components to finished
products carried to final buyers.

10. Competition:
Competition includes all the actual and potential
rival offerings and substitutes a buyer might
consider.

11. Marketing Environment
The marketing environment consists of:
• The task environment includes the actors engaged
in producing distributing and promoting the
offering.
• The broad environment consist of six
components:
i. Demographic
Environment
ii. Economic
Environment
iii.Socio-cultural
Environment
iv. Natural
Environment
v. Technological
Environment
vi. Polical-legal
Environment

12. Interested to know more, Refer
Available in All Leading
Stores,
A South Asian Prospective
Marketing Management
14th Edition, Philip Kotler

13. Credits:
• iStockPhoto.com for professional Pics.
• Colorlovers.com for Colour Scheming.
• Images.Google.com for Advertisements Images.
• A South Asian Perspective to Marketing Management 14th Edition Book by Kotler,
Chapter 1: Defining Marketing for 21st Century.
A Shashank Motepalli Presentation
Thanks