2. NEEDS, WANTS AND DEMANDS
NEEDS ARE THE BASIC HUMAN RQUIREMENTS SUCH
AS SHELTER AIR AND FOOD.
NEEDS BECOME WANTS WHEN THEY ARE DIRECTED
TO A SPECIFIC OBJECT THAT MAY SATIFY THE
NEED.
DEMANDS ARE THE WANTS FOR A SPECIFIC
PRODUCT BACKED BY THE ABILITY TO PAY.
3. TARGET MARKETS, POSITIONING AND
SEGMENTATION
DIVIDE MARKETS INTO SEGMENTS TO IDENTIFY
DIFFERENT GROUPS WHO PREFER DIFFERENT
GOODS AND SERVICES ACCORDING TO THEIR
DEMOGRAPHIC AND GEOGRAPHIC DIFFERENCES.
THE FIRM DEVELOPS A MARKET OFFERING THAT IT
POSITIONS IN THE MINDS OF THE BUYERS SOME
CENTRAL BENIFITS.
4. OFFERINGS AND BRANDS
COMPANIES PUT FORTH A VALUE PROPOSITION A
SET OF BENEFITS THAT SATISFY THE NEEDS OF THE
COSTUMER.
THIS VALUE PROPOSITION IS MADE PHYSICAL BY AN
OFFERING.- A COMBINATION OF PRODUCTS AND
SERVICES.
A BRAND IS AN OFFERING FROM A KNOWN SOURCE.
IT ASSOCIATES ITSELF WITH THE IDEA OF THE
OFFERINGS.
5. VALUE AND SATISFACTION
A BUYER BUYS THE OFFERINGS WHICH PROVIDE
HIM THE MOST VALUES.
SATISFACTION REFLECTS A PERSON’S JUDGEMENT
ON WHETHER THE PRODUCT’S PERCEIVED
PERFORMANCE IN RELATION TO THE EXPECTED.
6. MARKETING CHANNELS
COMMUNICATION CHANNELS DELIVERS AND
RECEIVES MESSAGES FROM THE TARGET
COSTUMERS. INCLUDES- NEWSPAPERS, MAGAZINES,
RADIO, TELEVISION ETC..
DISTRIBUTION CANNEL TO DISPLAY, SELL OR
DELIVER THE PRODUCT TO THE BUYER. INCLUDES-
DISTRIBUTOR, RETAILOR WHOLESELLER AND
AGENTS.
SERVICE CHANNEL TO CARRY OUT TRANSACTIONS
WITH POTENTIAL BUYERS. INCLUDES-
WAREHOUSES, TRANSPORTATION COMPANIES,
BANKS AND INSURANCE COMPANIES.
7. SUPPLY CHAIN
IT IS A LONGER CHANNEL STRETCHING FROM RAW
MATERIAL TO COMPONENTS TO FINISHED
PRODUCTSCARRIERD TO FINAL BUYERS.
9. MARKETING ENVIRONMENT
TASK ENVIRONMENT- INCLUDES THE ACTORS
ENGAGED IN PRODUCING , DISTRIBUTING, AND
PROMOTING THE OFFERING.
BROAD ENVIRONMENT – CONSISTS OF THE SIX
COMPONENTS: DEMOGRAPHIC ENVIRONMENT,
ECONOMIC ENVIRONMENT, OCIO-CULTURAL
ENVIRONMENT, NATURAL ENVIRONMENT,
TECHNOLOGICAL ENVIRONMENT, AND POLITICAL-
LEGAL ENVIRONMENT.
