Basic concept of Marketing. What is Marketing? difference between marketing and market. market segmentation,targeting,and positioning, why these are necessary???

7. Needs
• Human have many complex needs
• Physical needs for food, clothing, warmth, and safety
• Social needs or belonging and affection
• Individual needs for knowledge and self – expression
• needs are states of felt deprivation
Wants
• Want are the form taken by human needs as they are shaped by culture
and individual personality.
• People have almost unlimited wants but limited resources.
• They want to choose products that provide the most value and
satisfaction for their money.
Demands
• When backed by buying power, wants become demands.
• Consumers view products as bundles of benefits and choose products
that give them the best bundle for their money.
• Wants + Buying Power = Demand

11. Product
Price
Customer
Needs
Promotion
Distribution

17. The use of
e-commerce
(promoting and
selling on the
internet) has grown
massively over the
last few years

18. consumer
Manufacturer
costumer
wholesaler
retailer

22. Requires careful customer
analysis.
To be successful, firms must
engage in:

24. Geographic
segmentation
Demographic
segmentation
Psychographic
segmentation
Behavioral
segmentation

29. Why Segment?:
Meet consumer needs
more precisely
Increase profits
Segment leadership
Retain customers
Focus marketing
communications

30. Target market consists of a set
of buyers who share common
needs or characteristics that the
company decides to serve

31. o Narrowly defined group
o Fairly small market size
o
o
o
One-to-one marketing.
Customised to individuals
Customised industrial
products
niche
Targeting: Who are my customers?
Positioning: What is my main selling point?
Segmenting : dividing into group of similar needs and
desires
individuals