Core concepts of Marketing:
Needs are the basic human requirements.
For example: food, clothing,etc.
Wants:
Needs become wants when they are directed to specific objects that might satisfy the need.
Demands:
Wants for specific products backed by an ability to pay.
Target market:
Target market are the market segment where the marketer have great opportunity.
Positioning:
Positioning is the act of designing the company's offering and image to occupy distinctive place in the minds of the target market.
Segmentation:
Segmentation is identifying and profiling distinct group of buyers.
Offerings:
The intangible value proposition is made physical by an offering, can be combination of product,service,experience.
Brand:
The American Marketing Association (AMA) defines a brand as a "name, term, sign, symbol or design, or a combination of them intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of other sellers.
Value:
Value refers to the sum of perceived tangible and intangible benefits and cost to customers. It is a combination of Quality, Service and Price (QSP) known as customer value triad.
Satisfaction:
Satisfaction reflects a person's judgements of a product's perceived performance in relationship to expectations.
Marketing channels:
Communication channel
Distribution channel
Service channel
Supply chain:
A supply chain is a system of organizations, people, activities, information, and resources involved in moving a product or service from supplier to customer.
Supply chain activities transform natural resources, raw materials, and components into a finished product that is delivered to the end customer.
Competition:
It refers to substitutes available for the products.
Marketing environment:
Task environment
Broad environment
- Needs
- Wants
- Demands
- Target Market
- Positioning
- Segmentation
- Offerings
- Brands
- Value and satisfaction
- Marketing Channels
- Supply Chain
- Competition
- Marketing Environment
Needs are the basic human requirements.
For example: food, clothing,etc.
Wants:
Needs become wants when they are directed to specific objects that might satisfy the need.
Demands:
Wants for specific products backed by an ability to pay.
Target market:
Target market are the market segment where the marketer have great opportunity.
Positioning:
Positioning is the act of designing the company's offering and image to occupy distinctive place in the minds of the target market.
Segmentation:
Segmentation is identifying and profiling distinct group of buyers.
Offerings:
The intangible value proposition is made physical by an offering, can be combination of product,service,experience.
Brand:
The American Marketing Association (AMA) defines a brand as a "name, term, sign, symbol or design, or a combination of them intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of other sellers.
Value:
Value refers to the sum of perceived tangible and intangible benefits and cost to customers. It is a combination of Quality, Service and Price (QSP) known as customer value triad.
Satisfaction:
Satisfaction reflects a person's judgements of a product's perceived performance in relationship to expectations.
Marketing channels:
Communication channel
Distribution channel
Service channel
Supply chain:
A supply chain is a system of organizations, people, activities, information, and resources involved in moving a product or service from supplier to customer.
Supply chain activities transform natural resources, raw materials, and components into a finished product that is delivered to the end customer.
Competition:
It refers to substitutes available for the products.
Marketing environment:
Task environment
Broad environment
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