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part 1:defining marketing for new realities (we will discuss (what are…
part 1:defining marketing for new realities
we will discuss
why is marketing important?
value of marketing
Other business function dosen't matter without demand for product
marketing builds demand
what is the scope of marketing?
need to understand
what marketing is ?
identifying and meeting human and social needs
defination
social
shows role of marketing in society
managerial
art of selling products
make selling superfluous
how it works?
who does it?
marketers
who seeks demand
demand states
negative demand
Non existent demand
latent demand
declining demand
irregular demand
full demand
overfull demand
unwholesome demand
stimulate demand
identify cause of demand
determine plan of action to shift demand
another party called prospect
what is marketed?
10 main types of entities
goods
services
events
experiences
persons
places
properties
organisation
information
ideas
what are core concept of marketing?
need
basic human requirement
marketer doesnot create need
types of needs
stated need
real needs
unstated need
delight needs
secret need
want
shaped by society
demand
want specific product
ablity to pay
what forces are defining new marketing realities?
what does a holistic marketing philosophy include?
what tasks are necessary for successful marketing management?
marketing decision making
marketing constantly changing
observe change
winning marketing
skillful marketing is never ending pursuit
market
physical place
where buyers and sellers meet
key customer market
consumer
business
globle
non-profit
help customers learn what they want
TARGET MARKETS, POSITIONING, AND SEGMENTATION
Not everyone likes the same
thing
Marketers therefore identify distinct segments of buyers
identifying demographic, psychographic, and behavioral differences