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Core marketing concepts & their relevance

An overview of Core marketing concepts

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Core marketing concepts & their relevance

  1. 1. CORE MARKETING CONCEPTS & THEIR RELEVANCE Presented By:- Shubham Mandloi 1
  2. 2. Core Marketing Concepts 1. Needs, Wants, and Demands 2. Target Markets, Positioning, and Segmentation 3. Offerings and Brands 4. Marketing Channels 5. Paid, Owned and Earned Media 6. Competition 7. Impression and Engagement 8. Value and Satisfaction 9. Supply Chain 10. Marketing Environment 2
  3. 3. • Basic humans requirement. NEEDS Human also have strong needs for recreation, entertainment and education. 3
  4. 4. WANTS 1. Specific objects that specify needs. 2. Needs become wants when directed to specific objects that might satisfy the need. 4
  5. 5. •Wants for specific products backed by an ability and willingness to pay. 5
  6. 6. SEGMENTATION “Market segmentation is a marketing strategy which involves dividing a broad target market into subsets of consumers, businesses, or countries who have common needs, interests, and priorities, and then designing and implementing strategies to target them.” 6
  7. 7. 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.” 7
  8. 8. Target market •Which the company would like to serve, and toward which all marketing efforts will be directed 8
  9. 9. POSITIONING • The act of designing a company’s offering and image to occupy a distinctive place in the minds of the target market. “Positioning is the marketing activity and process of identifying a market problem or opportunity, and developing a solution based on market research, segmentation and supporting data” 9
  10. 10. Value Proposition •Set of benefits that a firm offers to satisfy a customer. Offerings • Physical form of intangible value proposition. • Combination of products, services and information. 10
  11. 11. BRANDS 11
  12. 12. MARKETING CHANNELS 12
  13. 13. COMMUNICATION CHANNELS 1. Deliver and receive messages from target buyers and include news papers, television, telephone, mail, bill boards. 2. Marketers are increasingly adding dialogue channels such as emails , blogs and toll free numbers to familiar monologue channels such as ads. 13
  14. 14. DISTRIBUTION CHANNELS 14
  15. 15. SERVICE CHANNELS The marketers uses service channels that include warehouse, transportation companies, banks and insurance companies to carry out transaction with potential customers. 15
  16. 16. PAID OWNED & EARNED MEDIA 16
  17. 17. COMPETITION Competition includes all actual and potential rival offerings and substitutes a buyer might consider. 17
  18. 18. IMPRESSIONS AND ENGAGEMENT • Impressions occur when consumers view a communication. • Engagement is the extent of a customer's attention and active involvement with a communication. 18
  19. 19. VALUE 1. Value is a central marketing concept which is primarily a combination of quality, service and price. 2. The buyer chooses the offerings he perceives to deliver the most value which is sum of all tangible and intangible benefits. 19
  20. 20. SATISFACTION 1. Satisfaction reflects a person’s judgement of a product perceived performance in relationship to expectations 2. If it falls short of expectations customer is disappointed 3. If it matches the expectations customer is satisfied 4. If it exceeds customer satisfaction customer is delighted 20
  21. 21. SUPPLY CHAIN 21
  22. 22. MARKETING ENVIRONMENT 22
  23. 23. TASK ENVIRONMENT 23
  24. 24. BROAD ENVIRONMENT 24
  25. 25. CONCLUSION 25
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