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Introduction To Marketing - Coggle Diagram

- - - - Marketing = identifying, anticipating, and satisfying needs profitably
      - Kotler Definition: “Marketing is the social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others.”
      - Keywords: Needs, Wants, Value, Exchange, Satisfaction
    - - Creation of Demand
      - Customer Satisfaction
      - Market Share Expansion
      - Goodwill & Image Building
      - Profitability & Growth
      - Customer Loyalty
      - Innovation & Adaptation
    - - Formula: Customer Value = Customer Benefits - Customer Costs
      - Benefits: product quality, features, brand image, services
      - Costs: price, time, effort, risk
      - Customers choose products with maximum net value
    - - Customer-oriented
      - Goal-oriented
      - Continuous process
      - Dynamic process
      - Integrated approach
      - Value creation
    - - Goods
        
        Tangible (seen/touched)
        
        Produced then consumed
        
        Homogeneous
        
        Example: bread, car
      - Products
        
        Broader term – includes goods + services
        
        Produced & consumed simultaneously (services)
        
        Often customized
        
        Example: education, insurance, travel
    - - Connects producers & consumers
      - Improves standard of living
      - Generates employment opportunities
      - Promotes innovation
      - Contributes to economic growth
      - Builds brand & goodwill
      - Facilitates global trade
    - - Part 1
        
        Market Research → study of demand, competition, consumer needs
        
        Product Planning & Development → designing goods/services
        
        Standardization & Grading → quality assurance
        
        Packaging & Labeling → protection + communication
        
        Branding → unique identity
      - Part 2
        
        Pricing → competitive + profitable
        
        Promotion → advertising, PR, personal selling, sales promotion
        
        Distribution (Place) → transportation, warehousing, intermediaries
        
        Financing → providing credit facilities
        
        Risk-bearing → handling uncertainties
        
        After-sales Services → customer support & maintenance
    - - Selling
        
        Product-oriented
        
        Focus on seller
        
        Goal = maximize sales
        
        Short-term perspective
        
        Means = selling/transfer of ownership
      - Marketing
        
        Customer-oriented
        
        Focus on buyer
        
        Goal = maximize satisfaction
        
        Long-term perspective
        
        Means = integrated marketing mix
    - - Production Concept → availability + affordability
      - Product Concept → superior quality & features
      - Selling Concept → aggressive selling & promotion
      - Marketing Concept → identify & satisfy customer needs
      - Societal Marketing Concept → customer satisfaction + social welfare
    - - Product → design, quality, features, branding, packaging
      - Price → affordability, competitor pricing, perceived value
      - Place → channels of distribution, logistics, coverage
      - Promotion → advertising, PR, sales promotion, direct marketing, personal selling
    - - Digital Marketing → online platforms, social media, e-commerce
      - Green Marketing → eco-friendly products & practices
      - Service Marketing → services (banking, IT, tourism)
      - Relationship Marketing → long-term loyalty & trust
      - Global Marketing → international trade & expansion