✅ What is Marketing? (AMA + simplified definitions) ✅ Core Marketing Decisions: Product, Price, Place, Promotion ✅ Concepts of Needs, Wants & Demands with real-life examples ✅ Marketing Myopia and how to avoid it Learn how global brands like Coca-Cola, Apple, and Amazon deliver value by staying customer-focused and innovative.

1. Fundamentals of
Marketing:
Core Concepts & Decisions
Defining Marketing, Key Decisions, Needs, Wants,
Demands & Marketing Myopia
MBA - Marketing Management
Faculty: Dr. Rani Sharma

2. Defining Marketing
• Definition (AMA): "Marketing is the activity, set of
institutions, and processes for creating, communicating,
delivering, and exchanging offerings that have value for
customers, clients, partners, and society at large."
• Simple Definition: Understanding customer needs and
providing value through products and services.
• Example: Coca-Cola promotes happiness, lifestyle beyond
beverages.
• Suggested Image: Coca-Cola 'Share a Coke' campaign.

3. Decisions in Marketing
• Product Decisions: Apple - iPhone, iPad.
• Pricing Decisions: Netflix - subscription tiers.
• Place Decisions: Amazon - online & logistics.
• Promotion Decisions: Nike - 'Just Do It' campaign.
• Suggested Video: Nike or Coca-Cola campaign clip.

4. Concepts of Needs,
Wants & Demands
• Needs: Basic requirements - food, shelter. Example: Hunger.
• Wants: Culturally shaped needs. Example: Domino's pizza.
• Demands: Wants backed by purchasing power. Example:
Ordering pizza online.
• Hierarchy: Needs → Wants → Demands.
• Suggested Image: Maslow's Hierarchy of Needs.

5. More Real-life Examples
of Needs, Wants,
Demands
• Transportation: Need - Safe travel. Want - BMW. Demand -
Purchase with financing.
• Communication: Need - Communication. Want - iPhone 15
Pro. Demand - Purchase on EMI.

6. Marketing Myopia
• Definition (Levitt, 1960): Focus on products, not customer
needs.
• Example 1: Kodak missed digital cameras.
• Example 2: Nokia missed smartphone trends.
• Suggested Video: Kodak or Nokia decline case study.

7. Avoiding Marketing
Myopia
• Customer Orientation: Focus on evolving customer needs.
• Continuous Innovation: Stay ahead with trends.
• Broad Market Definition: 'Transportation' vs 'trains'.
• Value Creation: Go beyond the product.
• Example: Amazon - customer-centric tech company.
• Suggested Image: Amazon customer service graphic.

8. Summary
• Marketing delivers value to customers.
• Key decisions: Product, Price, Place, Promotion.
• Understand Needs, Wants, Demands.
• Avoid Marketing Myopia: Stay customer-focused.
• Real-life success: Apple, Amazon, Coca-Cola, Nike.

9. Class Discussion &
Questions
• 1. Other companies that faced marketing myopia?
• 2. How can Indian companies avoid it?
• 3. Your example of need → want → demand.

10. Additional Case Studies
• Case Study 1: Kodak - Digital camera adaptation failure.
• Case Study 2: Nokia - Lost to Android & Apple.
• Case Study 3: Blockbuster vs Netflix - Streaming disruption.
• Prepared by: Dr. Rani Sharma