Needs

Basic human requirements for lifeEx- food ,air , water ,shelter , clothing etc.

Stated

• The customer wants an inexpensive car

Real

• The customer wants a car whose operating cost, not initial price, is low

Unstated

• The customer expects good service from the dealer

Delight

• The customer would like the dealer to include an onboard GPS navigation system.

Secret

• The customer wants friends to see him or her as a savvy consumer

Types of needs…

Wants : Specific objects that satisfies needs.

Ex – Chapattis , yogurt , studio apartment,mineral water , cold drinks

Demands : Wants for a specific products,backed by ability to pay

Ex – Many people wants a BMW or Mercedes , but only few have a ability to pay

Target Markets,Positioning

&Segmentation

Segmentation

Identify & describe market segments

Evaluate segments and decide which to go after..

Positioning

Design a product or service to meet a segment’s needs and develop a marketing mix that will create a

competitive advantage in the minds of the selected target markets

Offering and Brands

Companies address customer needs by putting forth a value proposition, i.e. a set of benefits that is made physical by an Offering

Brand is an offering from a known source. All companies strive to build a brand image with as many brand association as possible.

Value & Satisfaction

Value It is primarily a combination of quality

,service and price

QSP –a customer value triad

Satisfaction : A person’ judgement of a product’s perceived

performance in relationship to

expectations

MARKETING CHANNELS

• Communication Channels• Distribution Channels• Service Channels

COMMUNICATION CHANNELS

This channel deliver & receive messages from the target buyers ,through :

Television , radio , newspaper , posters , telephone and the internet.

Distribution Channels

This channel is used to display, sell or deliver the physical product or services to

the user

Service Channels

To carry out transactions with potential buyers ,this channel is used that includes warehouses ,banks,

transportation & insurance companies

Supply Chain

Competition

Competition includes all the actual and potential rival offerings and substitutes a buyer might consider.

Marketing Environment

• Task Environment • Broad Environment

TASK ENVIRONMENT

The actors engaged in producing , distributing and promoting the offerings.

Ex. – Company , suppliers , distributors , dealers and target customers

Broad Environment

• Demographic• Economic• Socio - Cultural

• Natural • Technological• Political-Legal

Core Marketing Concepts...

• Needs, Wants, and Demands• Target Markets, Positioning, and Segmentation• Offerings and Brands• Value and Satisfaction• Marketing Channels• Supply Chain• Competition• Marketing Environment

SUMMARY

Himank AironMnCIIT-BHU

References• Marketing Management , 14E by Kotler & Keller• www.Slideshare.net• http://www.nysatec.com/wp-content/uploads/2014/12/marketing_digital_01.png• http://ut11.net/wp-content/uploads/2014/09/ecosystem.jpg• http://content.presspage.com/uploads/1311/etude.jpg• http://www.skepticalob.com/wp-

content/uploads/2014/11/iStock_000024630531Small-e1415898045240.jpg• http://365jia.cn/uploads/14/0110/52cf3fd4c00dc.jpg• http://www.brancept.com/images/home/branding.jpg• http://cdn1.drprem.com/business/wp-content/uploads/sites/28/2014/10/business-

competition-600x330.jpg• http://cmimotors.com/uploads/posts/2015-04/1428909796_background.jpg• http://www.gtreview.com/wp-content/uploads/2014/11/Handshake-Partnership-

Agreement.jpg• http://i.cubeupload.com/jLicud.jpg

Disclaimer

These slide were created by Himank Airon , IIT-BHU during an Marketing internship by Prof. Sameer Mathur, IIM Lucknow.(see www.IIMInternship.com)