PRINCIPLES OF MARKETING
INDEX
QUOTES
GROUP MEMBERS
TOPICS
QUOTES
GROUP 5
THE 5 CORE CONCEPTS OF MARKETING
members
SEDERIO, JULIUS TULIAO, EARL JOHN AMPARADO, RHEYLYN
CANETE, ELJIE BATANG, CRISTINE JOY
MASIGAN, CELIA DE ASIS, CHLOE.
FRIO, LOVELY ANNE C PURGATORIO, KRISTINE.
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+ INFO
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+ INFO
WHAT COMES IS YOUR MIND WHEN YOU HEAR THE WORD 'CONCEPT OF MARKETING?"
+ INFO
01
NEEDS, WANTS AND DEMANDS
NEEDS
1. Physiological Needs – Food companies (Nestle, Pepsi, Coca Cola) 2. Safety Needs – Insurance companies (ICICI Prudential, Tata AIG, HDFC Life) 3. Social Needs – Social networking sites (Facebook, Twitter, Instagram) 4. Esteem Needs – Luxury brands (iPhone, Mercedes, Estee Lauder) 5. Self-actualization needs – Non-Profit organizations and NGOs (UNICEF, Teach for India)
Needs are the basic requirements of a human being, like food, cloth, shelter etc. Needs can be basically divided into Physical Needs, Social Needs, and Individual Needs. Maslow’s hierarchy of needs which categorizes needs into 5 levels starting from physiological needs at the bottom and going up to self-actualization needs. Let’s look at some of the examples of brands which are targeting different levels of needs.
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wants
Wants are the things that satisfy needs. Products have the power to fulfill particular wants.
Wants are a type of need and are highly reliant on basic human requirements. Needs are limitless. Consumers seek great value and enjoyment from their purchases.
+ INFO
DEMANDS
Demands occur when a customer is ready and able to purchase what he or she needs or wants. Desire is the fundamental difference between demands and wants. Even if a buyer might want something, he might not be able to satisfy that need. Those who can buy attractive products are, as a result, turning their wants into demands. In other words, the ability and willingness of a customer to purchase a need or a want indicates that there is a demand for that need or want.
+ INFO
+ INFO
at
+ INFO
+ INFO
FO
Phasellus at viverra risus. Vivamus vulputate nsequat.
02
MARKETING OFFERS
SERVICES
PRODUCTS
By making your product attractive affordable, and easily available you can influence demands grately and you should do it since market now days are highly competitive, therefore as a marketer, you should identify basically how many people would actually be willing to buy your product.
More people are drawn toward a brand when it sells product that resolve costumers problems or make their lives easier that can do this the best and exceed a costumers expectation will stand out in the costumer minds based on the factors market offerings are divide into main categories
+ INFO
EXPERIENCES
Experiences have always been an important part of marketing for some companies.Those customers that have great experiences will buy from the same company and tell others to do the same.They have expectations about the value and satisfaction that they will get and then buy based on these expectations.So, be careful to set the right level of expectation: too low and you won't attract enough customers, too high and your customers will be disappointed.
+ INFO
Morbi a dui vel nisi dictum varius. Class aptent taciti sociosqu ad litora torquent per conubia nostra, per inceptos himenaeos. In at cursus orci, non aliquam leo. Aliquam felis neque, tempor ut elit sit amet, malesuada gravida nisl. Praesent id sapien elit.Phasellus facilisis metus eget ipsum lobortis maximus. Vivamus libero purus, ultrices quis metus at, ullamcorer facilisis est. Nulla nisi purus, lobortis nec tristique a, porttitor eget mi. Mauris et nibh sed erat posuere vulputate. Aenean vitae tempor felis. Maecenas non augue nec magna elementum euismod. Etiam ut lorem vel magna ullamcorper feugiat sodales ami. Nunc dui tellus, venenatis vitae ornare at, suscipit nec dui.
INFORMATION
The information is obtained by assembling items of data into a meaningful form.
Info
+ INFO
Morbi a dui vel nisi dictum varius. Class aptent taciti sociosqu ad litora torquent per conubia nostra, per inceptos himenaeos. In at cursus orci, non aliquam leo. Aliquam felis neque, tempor ut elit sit amet, malesuada gravida nisl. Praesent id sapien elit.Phasellus facilisis metus eget ipsum lobortis maximus. Vivamus libero purus, ultrices quis metus at, ullamcorer facilisis est. Nulla nisi purus, lobortis nec tristique a, porttitor eget mi. Mauris et nibh sed erat posuere vulputate. Aenean vitae tempor felis. Maecenas non augue nec magna elementum euismod. Etiam ut lorem vel magna ullamcorper feugiat sodales ami. Nunc dui tellus, venenatis vitae ornare at, suscipit nec dui.
03
CONSUMER, VALUE AND SATISFACTION
VALUE AND SATISFACTION
VALUE
SATISFACTION
Customer satisfaction is a measure of how well a company’s products, services, and overall customer experience meet customer expectations. It reflects your business’ health by showing how well your products or services resonate with buyers. Customer satisfaction is crucial to the success of your business. No matter how innovative your product or competitive your pricing, if your customers are ultimately unhappy, they’re not going to stick around. In short, customer satisfaction is a key factor in the success and growth of any business.
Value in marketing, also known as customer-perceived value, is the difference between a prospective customer's evaluation of the benefits and costs of one product when compared with others.
+ INFO
+ INFO
QUALITY
Quality marketing is a customer-oriented approach and its key priority is customer satisfaction. Its main objective is producing products and services as per customers’ desires and making them available to customers at the right place, at the right time, and at affordable prices.
04
exchange, transactions and relationships
Exchange marketing is the act of obtaining a desired object from someone by offering something in return. it is what happens any time when two or more people trade goods or services.
There should be at least two parties in exchange, and each must have something of value to the other
Each party must have the desire to deal with other parties, and each must have the freedom to accept or reject the other’s offer.
exchange
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TRANSACTIONS
The basic unit of exchange is a transaction, and it consists of the trade of values between two parties involved in the exchange. It means that both parties get something out of a transaction.
this is the basic unit of exchange in transaction. the terms around which both parties agree to trade value for value (to trade with money to product) Whereas exchange is the core concept of marketing, a transaction is marketing’s unit of measurement. The transaction is a trade between two parties that involves at least two things of value, agreed-upon conditions, a time of the agreement, and a place of agreement. It's a cost-effective strategy to build a sales model since it doesn't focus on brand image and the promotional costs are low. Maintaining an inventory of unsold products with a limited shelf life is futile and can incur heavy losses.
Transactions lead marketers gradually to relationship marketin
Marketing extends beyond creating short-term transactions; they have to build long-term relationships with customers, distributors, dealers, and suppliers
Concern, Trust, Commitment and Service. Generally, marketing was tied in with making sales and acquiring benefits. Organizations were keener on increasing their sales by drawing in new clients. Enough efforts were not made to fulfill and keep up with the current ones
relationships
Relationship marketing results into economical, technical, social, and cultural tie among the parties. Marketing manager is responsible for establishing and maintaining long-term relations with the parties involved in business.
05
markets
markets
The concept of the market basically emerged from the concept of a transaction. We can define the market as a set of actual and potential buyers of a particular product.
four flows connect, seller and buyers
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questions?
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Transcript
PRINCIPLES OF MARKETING
INDEX
QUOTES
GROUP MEMBERS
TOPICS
QUOTES
GROUP 5
THE 5 CORE CONCEPTS OF MARKETING
members
SEDERIO, JULIUS TULIAO, EARL JOHN AMPARADO, RHEYLYN
CANETE, ELJIE BATANG, CRISTINE JOY
MASIGAN, CELIA DE ASIS, CHLOE.
FRIO, LOVELY ANNE C PURGATORIO, KRISTINE.
+ INFO
+ INFO
+ INFO
+ INFO
WHAT COMES IS YOUR MIND WHEN YOU HEAR THE WORD 'CONCEPT OF MARKETING?"
+ INFO
01
NEEDS, WANTS AND DEMANDS
NEEDS
1. Physiological Needs – Food companies (Nestle, Pepsi, Coca Cola) 2. Safety Needs – Insurance companies (ICICI Prudential, Tata AIG, HDFC Life) 3. Social Needs – Social networking sites (Facebook, Twitter, Instagram) 4. Esteem Needs – Luxury brands (iPhone, Mercedes, Estee Lauder) 5. Self-actualization needs – Non-Profit organizations and NGOs (UNICEF, Teach for India)
Needs are the basic requirements of a human being, like food, cloth, shelter etc. Needs can be basically divided into Physical Needs, Social Needs, and Individual Needs. Maslow’s hierarchy of needs which categorizes needs into 5 levels starting from physiological needs at the bottom and going up to self-actualization needs. Let’s look at some of the examples of brands which are targeting different levels of needs.
+ INFO
wants
Wants are the things that satisfy needs. Products have the power to fulfill particular wants. Wants are a type of need and are highly reliant on basic human requirements. Needs are limitless. Consumers seek great value and enjoyment from their purchases.
+ INFO
DEMANDS
Demands occur when a customer is ready and able to purchase what he or she needs or wants. Desire is the fundamental difference between demands and wants. Even if a buyer might want something, he might not be able to satisfy that need. Those who can buy attractive products are, as a result, turning their wants into demands. In other words, the ability and willingness of a customer to purchase a need or a want indicates that there is a demand for that need or want.
+ INFO
+ INFO
at
+ INFO
+ INFO
FO
Phasellus at viverra risus. Vivamus vulputate nsequat.
02
MARKETING OFFERS
SERVICES
PRODUCTS
By making your product attractive affordable, and easily available you can influence demands grately and you should do it since market now days are highly competitive, therefore as a marketer, you should identify basically how many people would actually be willing to buy your product.
More people are drawn toward a brand when it sells product that resolve costumers problems or make their lives easier that can do this the best and exceed a costumers expectation will stand out in the costumer minds based on the factors market offerings are divide into main categories
+ INFO
EXPERIENCES
Experiences have always been an important part of marketing for some companies.Those customers that have great experiences will buy from the same company and tell others to do the same.They have expectations about the value and satisfaction that they will get and then buy based on these expectations.So, be careful to set the right level of expectation: too low and you won't attract enough customers, too high and your customers will be disappointed.
+ INFO
Morbi a dui vel nisi dictum varius. Class aptent taciti sociosqu ad litora torquent per conubia nostra, per inceptos himenaeos. In at cursus orci, non aliquam leo. Aliquam felis neque, tempor ut elit sit amet, malesuada gravida nisl. Praesent id sapien elit.Phasellus facilisis metus eget ipsum lobortis maximus. Vivamus libero purus, ultrices quis metus at, ullamcorer facilisis est. Nulla nisi purus, lobortis nec tristique a, porttitor eget mi. Mauris et nibh sed erat posuere vulputate. Aenean vitae tempor felis. Maecenas non augue nec magna elementum euismod. Etiam ut lorem vel magna ullamcorper feugiat sodales ami. Nunc dui tellus, venenatis vitae ornare at, suscipit nec dui.
INFORMATION
The information is obtained by assembling items of data into a meaningful form.
Info
+ INFO
Morbi a dui vel nisi dictum varius. Class aptent taciti sociosqu ad litora torquent per conubia nostra, per inceptos himenaeos. In at cursus orci, non aliquam leo. Aliquam felis neque, tempor ut elit sit amet, malesuada gravida nisl. Praesent id sapien elit.Phasellus facilisis metus eget ipsum lobortis maximus. Vivamus libero purus, ultrices quis metus at, ullamcorer facilisis est. Nulla nisi purus, lobortis nec tristique a, porttitor eget mi. Mauris et nibh sed erat posuere vulputate. Aenean vitae tempor felis. Maecenas non augue nec magna elementum euismod. Etiam ut lorem vel magna ullamcorper feugiat sodales ami. Nunc dui tellus, venenatis vitae ornare at, suscipit nec dui.
03
CONSUMER, VALUE AND SATISFACTION
VALUE AND SATISFACTION
VALUE
SATISFACTION
Customer satisfaction is a measure of how well a company’s products, services, and overall customer experience meet customer expectations. It reflects your business’ health by showing how well your products or services resonate with buyers. Customer satisfaction is crucial to the success of your business. No matter how innovative your product or competitive your pricing, if your customers are ultimately unhappy, they’re not going to stick around. In short, customer satisfaction is a key factor in the success and growth of any business.
Value in marketing, also known as customer-perceived value, is the difference between a prospective customer's evaluation of the benefits and costs of one product when compared with others.
+ INFO
+ INFO
QUALITY
Quality marketing is a customer-oriented approach and its key priority is customer satisfaction. Its main objective is producing products and services as per customers’ desires and making them available to customers at the right place, at the right time, and at affordable prices.
04
exchange, transactions and relationships
Exchange marketing is the act of obtaining a desired object from someone by offering something in return. it is what happens any time when two or more people trade goods or services. There should be at least two parties in exchange, and each must have something of value to the other Each party must have the desire to deal with other parties, and each must have the freedom to accept or reject the other’s offer.
exchange
+ INFO
TRANSACTIONS
The basic unit of exchange is a transaction, and it consists of the trade of values between two parties involved in the exchange. It means that both parties get something out of a transaction.
this is the basic unit of exchange in transaction. the terms around which both parties agree to trade value for value (to trade with money to product) Whereas exchange is the core concept of marketing, a transaction is marketing’s unit of measurement. The transaction is a trade between two parties that involves at least two things of value, agreed-upon conditions, a time of the agreement, and a place of agreement. It's a cost-effective strategy to build a sales model since it doesn't focus on brand image and the promotional costs are low. Maintaining an inventory of unsold products with a limited shelf life is futile and can incur heavy losses.
Transactions lead marketers gradually to relationship marketin
Marketing extends beyond creating short-term transactions; they have to build long-term relationships with customers, distributors, dealers, and suppliers
Concern, Trust, Commitment and Service. Generally, marketing was tied in with making sales and acquiring benefits. Organizations were keener on increasing their sales by drawing in new clients. Enough efforts were not made to fulfill and keep up with the current ones
relationships
Relationship marketing results into economical, technical, social, and cultural tie among the parties. Marketing manager is responsible for establishing and maintaining long-term relations with the parties involved in business.
05
markets
markets
The concept of the market basically emerged from the concept of a transaction. We can define the market as a set of actual and potential buyers of a particular product.
four flows connect, seller and buyers
+ INFO
questions?