This document defines and explains several core marketing concepts. It discusses needs and wants, demand, target markets, positioning, segmentation, offerings, brands, value, satisfaction, marketing channels, supply chains, competition, and the marketing environment. The key concepts covered are the difference between needs and wants, how demands arise from wants, the purpose and types of target markets, positioning, and segmentation strategies, and how companies address customer needs through value propositions, offerings, and brands.

1. Core
Marketing
Concepts

2. NEED
•Needs are basic Human
requirements for air,
food,shelter
•Human also have strong
needs for recreation,
entertainment and

3. WANT‘Needs become wants
when they are directed
to specific objects that
might satisfy the needs’

4. Example about
wants•A person in
Afghanistan
needs food
•He wants rice,
lamb and
carrots
•A person in India
needs food
•He wants
chapattis ,rice
curries and
yogurt

5. DEMAND
Demands are wants for
specific products
backed by an ability to
pay

6. There are five types of
needs
Stated Needs
Real Needs
Unstated Needs
Delight Needs
Secret Needs

7. TARGET MARKETS
“A target market is a group of
customers towards which a
business has decided to aim its
marketing efforts and
ultimately its merchandise”

8. POSITIONING
“Positioning is the marketing
activity and process of
identifying a market problem
or opportunity, and
developing a solution based
on market research,

9. SEGMENTATION
“Market segmentation is a marketing
strategy which involves dividing a
broad target market into subsets of
consumers, businesses, or countries
who have common needs, interests,
and priorities, and then designing and
implementing strategies to target
them”

10. •Companies address customer needs by
putting forth value proposition a set of
benefits that satisfy those needs
•This intangible value proposition is made
physical by an offering which can be a
combination of products, services,
information and experiences

11. BRANDS•A Brand is an offering from known
source
•For example McDonald’s
associates in mind of people that
makes an image of burgers,
cleanliness, convenience, golden
arches, courteous services

12. VALUE•The buyer chooses the offerings he
perceives to deliver the most value
which is sum of all tangible and
intangible benefits
•Value is a central marketing concept
which is primarily a combination of
quality, service and price (qsp)

13. SATISFACTION• Satisfaction reflects a person’s judgement of
a product perceived performance in
relationship to expectations
• If it falls short of expectations customer is
disappointed
• If it matches the expectations customer is
satisfied
• If it exceeds customer satisfaction customer is
delighted

14. MARKETING
CHANNEL

15. COMMUNICATION
CHANNEL
•These channels deliver and receive
message from target buyers and include
news papers, televison, telephone, mail,
bill boards
•Marketers are increasingly adding
dialogue channels such as emails , blogs
and toll free numbers to familiar
monologue channels such as ads

16. DISTRIBUTION CHANNELS
•The marketers uses distribution channels
to display, sell or deliver the physical
products or services to buyers
•These channels may be via internet ,
mobile phones or indirect with
distributors, wholesalers, retailers and
agents

17. SERVICE
CHANNELS•The marketers uses service channels that
include warehouse, transportation
companies, banks and insurance
companies to carry out transaction with
potential customers

18. SUPPLY CHAIN• The supply chain is a longer channel stretching
from raw materials to components of finished
products carried to final buyers
• Each intermediary captures only a certain
percentage of the total value generated by supply
chain delivery system
• When a company acquires its competitor in
upstream or down stream
It aims to capture a high percentage of supply
chain value

19. COMPETITION•Competition includes all actual and
potential rival offerings and substitutes
•Tata steel has competition from Steel
authority of India
•In a long run Tata steel has a
competition from aluminium and plastic
companies offering lightweight

20. MARKETING
ENVIRONMENT

21. TASK ENVIRONMENT
• Task environment includes actors engaged in
production, distributing and promoting
offering
• Distributors and dealers include agents,
brokers, manufacturer representatives
• In supplier group are material supplier and
service supplier such as marketing research
agencies, banking and insurance companies

22. BRAOD ENVIRONMENT
It consist of six components :
• Demographic environment
• Economic environment
• Social-cultural environment
• Natural environment
• Technological environment
• Political-legal environment

23. ReCap
•Need, Wants and Demand
•Target Markets , Positioning and
Segmentation
•Offerings and Brands
•Value and Satisfaction
•Marketing channel and Supply
Chain

25. “Created by Sai
Srujan,RGIPT RaeBareli,
during an internship by
Prof. Sameer Mathur,IIM
LUCKNOW”