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B.Com 07-11, Lecture 2 Core Marketing Concept

Subject: Marketing
Teacher: Hafiz Ahsan
Class: Bcom 5th (2007-2011)
Uploaded by: Saad Ahmad (BC07002)

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B.Com 07-11, Lecture 2 Core Marketing Concept

  1. 2. Marketing (Philip Kotler) <ul><li>Marketing is a social and managerial process whereby individuals and groups obtain what they need and want through creating and exchanging products and values with others. </li></ul>
  2. 3. Core Marketing Concepts
  3. 4. Core Marketing Concepts
  4. 5. Core Marketing Concepts <ul><li>Need </li></ul><ul><li>State of felt deprivation. </li></ul><ul><li>Want </li></ul><ul><li>Need shaped by culture and individual personality. </li></ul><ul><li>Demand </li></ul><ul><li>Want backed up by the purchasing power. </li></ul>
  5. 6. Core Marketing Concepts
  6. 7. Core Marketing Concepts <ul><li>Product and Services </li></ul><ul><li>Anything that can be offered in a market for attention, acquisition, use or consumption and that may satisfy a need or want . </li></ul>
  7. 8. Conti… <ul><li>It Includes: </li></ul><ul><li>Physical Goods </li></ul><ul><li>Services </li></ul><ul><li>Places </li></ul><ul><li>People </li></ul><ul><li>Organization </li></ul><ul><li>Activities </li></ul><ul><li>ideas </li></ul>
  8. 9. Core Marketing Concepts
  9. 10. Conti….. <ul><li>Value </li></ul><ul><li>“ The difference between benefit the customer from owing and using a product and cost of obtaining the product.” </li></ul><ul><li>Satisfaction </li></ul><ul><li>“ Satisfaction depends on how well product performance lives up to the customer expectations.” </li></ul>
  10. 11. Core Marketing Concepts
  11. 12. Conti….. <ul><li>Exchange </li></ul><ul><li>Exchange is the process of obtaining the desired product from someone by offering something in return. </li></ul><ul><li>Prerequisites of Exchange: </li></ul><ul><li>At least two parties </li></ul><ul><li>Something of value to offer each other </li></ul><ul><li>Willing to exchange </li></ul><ul><li>Free to accept or reject </li></ul><ul><li>Able to communicate and deliver </li></ul>
  12. 13. Conti….. <ul><li>Transaction </li></ul><ul><li>A trade between two parties that involve </li></ul><ul><li>At least two things of value </li></ul><ul><li>Agreed upon the condition </li></ul><ul><li>A time of agreement and place of agreement </li></ul><ul><li>May be Monetary or Barter </li></ul>
  13. 14. Core Marketing Concepts
  14. 15. Conti….. <ul><li>Market </li></ul><ul><li>A set of actual and potential buyer of product. </li></ul><ul><li>A place. </li></ul><ul><li>Marketing satisfies the needs of markets by facilitating the exchange process. </li></ul>
  15. 16. <ul><li>Competitors </li></ul>Suppliers Company (Marketers) Marketing Intermediaries End User Marketers Environment