Key Marketing Concepts
CHAPTER 1 & 2 * What is marketing?
Marketing is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.
* What is the marketing process?
* Needs, wants and demands
Needs : basic human requirements
Wants: the needs becomes wants when they are directed to a specific objects and might satisfy the need
Demands: are wants for a specific product backed up by an ability to pay
* Target markets, positioning, segmentation
Segmentation: identifying and profile distinct group of buyers who might prefer or require varying products or service mixes by examining demographic, psychographic & difeerence behavior between buyers.
Target marketers : deciding whish segment present the greatest opportunities
Positioning : developing marketing offering wish delivers certain benefits to the buyer
* Value
Combination between quality service & price
* Marketing environment 1. Task environment : immediate actors involved in producing distributing and promoting 2. The broad environment: consist of six components
Demographic
Economic
Physical
Technological
Political
Social-Cultural
* Holistic marketing
Is an approach to marketing that attempts to recognize and reconcile the scope and complexities of marketing activities.
* Internal marketing
Internal marketing is the task of hiring, training, and motivating able employees who want to serve customers well.
* Value delivery process
Sell the product
Make the product
Procure
Design product Make
Price
Sell
Advertise/
promote
Distribute
Service
Choose the Value
Provide the Value
Communicate the Value
(a) Traditional physical process sequence
(b) Value creation & delivery sequence
Strategic marketing
Tactical marketing
* Generic value chain
A tool for
Marketing is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.
* What is the marketing process?
* Needs, wants and demands
Needs : basic human requirements
Wants: the needs becomes wants when they are directed to a specific objects and might satisfy the need
Demands: are wants for a specific product backed up by an ability to pay
* Target markets, positioning, segmentation
Segmentation: identifying and profile distinct group of buyers who might prefer or require varying products or service mixes by examining demographic, psychographic & difeerence behavior between buyers.
Target marketers : deciding whish segment present the greatest opportunities
Positioning : developing marketing offering wish delivers certain benefits to the buyer
* Value
Combination between quality service & price
* Marketing environment 1. Task environment : immediate actors involved in producing distributing and promoting 2. The broad environment: consist of six components
Demographic
Economic
Physical
Technological
Political
Social-Cultural
* Holistic marketing
Is an approach to marketing that attempts to recognize and reconcile the scope and complexities of marketing activities.
* Internal marketing
Internal marketing is the task of hiring, training, and motivating able employees who want to serve customers well.
* Value delivery process
Sell the product
Make the product
Procure
Design product Make
Price
Sell
Advertise/
promote
Distribute
Service
Choose the Value
Provide the Value
Communicate the Value
(a) Traditional physical process sequence
(b) Value creation & delivery sequence
Strategic marketing
Tactical marketing
* Generic value chain
A tool for