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>

3.
Core Marketing Concepts

4.
Core Marketing Concepts

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>

6.
Core Marketing Concepts

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>

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>

9.
Core Marketing Concepts

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>

11.
Core Marketing Concepts

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>

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>

14.
Core Marketing Concepts

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>

16.
<ul><li>Competitors </li></ul>Suppliers Company (Marketers) Marketing Intermediaries End User Marketers Environment