what are some of the core marketing concepts
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CoreMarketing
Concepts
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NeedsBasic Human Requirements
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WantsNeeds when directed to specific objects that
satisfy the need
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DemandsThese are the wants for the specific products that are backed by an ability & willingness to
buy them
Most of us wants this …
But demand for this …
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Segmentation
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SegmentationMarket segmentation is a marketing strategy which involves dividing a broad target marketinto subsets of consumers, businesses, or countries who have, or are perceived to have, common needs, interests, and priorities, and then designing and implementing strategies to target them.
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Target Markets
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Target Markets
A target market is a group of customerstowards which a business has decided to aim its marketing efforts and ultimately its merchandise. A well-defined target market is the first element to a marketing strategy.
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Offeringsand
Brands
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OfferingsThis can be made putting forward a value proposition, a set of benefits that satisfy those needs, can be a combination of products, services, information and experiences.
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BrandsA brand is an offering from a known source.
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ValueIt is the sum of tangible and intangible benifitesand costs to a buyer.
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SatisfactionIt reflects a person’s judgment of a product’s perceived performance in relation to the expectations.
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Communication Channels
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Distribution Channels
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Service Channels
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Supply Chain
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Competition
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Task Environment
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Broad Environment
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Presentation by
YASH SHARMA(IIT BHU)
(during a summer intern under Prof. Sameer Mathur,
IIM Lucknow)
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RECAP
1) Needs, Wants, and Demands2) Target Markets, Positioning, and
Segmentation3) Offerings and Brands4) Value and Satisfaction5) Marketing Channels (communication,
distribution, and service)6) Supply chain7) Competition8) Marketing Environment (task and broad)