Core concepts of Marketing Dr Prabhat K. Dwivedi
Author : giovanna-bartolotta | Published Date : 2025-05-22
Description: Core concepts of Marketing Dr Prabhat K Dwivedi Associate Professor School of Business Management CSJM University Kanpur P Seller Industry Buyer Market Physical Goods Services Money Communication Marketing System Information Marketing
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Transcript:Core concepts of Marketing Dr Prabhat K. Dwivedi:
Core concepts of Marketing Dr Prabhat K. Dwivedi Associate Professor School of Business Management CSJM University Kanpur P Seller (Industry) Buyer (Market) Physical Goods/ Services Money Communication Marketing System Information Marketing vs. Sales Sales oriented process Marketing process Core Concepts Needs, wants, and demands Segmentation, Target markets, positioning, Offerings and brands Value and satisfaction Marketing channels Supply chain Competition Marketing environment Marketing planning April 27, 2022 1-4 I want it, I need it….. 5 Types of Needs Stated needs Real needs Unstated needs Delight needs Secret needs 1-5 April 27, 2022 Demand States Negative- Consumers dislike the product & may even pay to avoid it. Nonexistent- Consumers may be unaware of or uninterested in the product. Latent- Consumers may share a strong need that cannot be satisfied by an existing product. Declining- Consumers begin to buy the product less frequently or not at all. Irregular- Consumers purchase vary on a seasonal, monthly, weekly etc. basis. Unwholesome- Consumers may be attracted to products that have undesirable social consequence. Full- Consumers are adequately buying all products put into the market place. Overfull- More consumers would like to buy products than can be satisfied. April 27, 2022 1-6 Marketing Mix Marketing Mix and the Customer Four Ps Product Price Place Promotion Four Cs Customer solution Customer cost Convenience Communication April 27, 2022 1-8 Value Aspect Creating Value Capturing Value Delivering Value Communicating Value Marketing can be performed by both: Individuals & Organizations B2B B2C C2C Strategic Marketing Process Why is Marketing Important? Marketing Management Tasks Developing marketing strategies Capturing marketing insights Connecting with customers Building strong brands Shaping market offerings Delivering value Communicating value Creating long-term growth April 27, 2022 1-12
