Transcript What is marketing?

(Chp01 MARKETING)
What is marketing?
Marketing is about identifying and meeting
human and social needs.
(2) Marketing means to satisfy the need and
wants of target customer and to build and
maintain a strong relationship with the
customer. Is called marketing.
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What is marketed?
Marketing people market the following
entities, these are
(1)Goods. physical goods can be marketing in
the bulk quantities most of the countries can
be marketing large number of goods such as
machines tools.truck,television sets ,industrial
chemical etc
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(2)services.
Services can also be marketed, such as airline
services, hotel restaurant services, lawyers
,doctors these are provide services which can
be marketed.
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(3)Events
Marketer promote time based events, such as
major trade show and company anniversaries.
(4)Person. can also be marketed such as
artists, cricketer etc.
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Who markets?
If two parties are seeking to sell something to
each other we call them both markets. Marketer
need to identify market demand time to time
which meet the company objective. Marketer can
identify the following demand stages, these are
(1)Negative demand. when consumer dislike the
product, so consumer can not purchase the
product
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(2)Nonexistent demand
Non existent demand is that when consumer
can not aware are can not interesting in the
product.
(3) Latent demand. Consumer may share a
strong need that can not be satisfied by an
existing product.
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(4)
Declining demand. Consumer begin to buy the
product less frequently.
(5) Irregular demand. Consumer purchase
vary on a seasonal, monthly,weekly,daily
basis.
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(5) Full demand
Full demand are that demand which
customer purchase all these product which
are available in the market place.
(6) Overfull demand. Overfull demand is that
when the demand is high against the market
supply.
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Key customer market
Consider the following key customer market
consumer market,business market, global
market and non profit market.
(1) Consumer market. companies selling mass
consumer goods and services such as soft
drink, cosmetics etc.and consumer market
customer can consume product in for personal
consumption.
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(2) Business market
Business buyer buy goods and order to make
or resell a product to other at a profit.
Business market must demonstrate how their
product will help these buyer achieve higher
revenue or lower cost. Advertising can play
important role ,but the sales force, price and
the company reputation for reliability and
quality may play a stronger one.
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(3)Global market.
Company selling good and services in the
global market place. Company face additional
decision and chellanges.they must decide
which country to enter, how to enter, how to
adopt their product and services features to
each countries. How to price their product in
different countries.
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(4)Non profit and governmental
market.
Company selling their product to non profit
organization such as school, hospital, charity.
The aim of purchasing of these type of product
is to improve the society.
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Company orientation toward the
marketplace.
Company orientation means to evolution of
the market. It means traditional market can be
converted into new market. There are some
evolution which market can be goes in these
stages.
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CON…..
(1) Production concept. The production
concept is one of the oldest concept in this
concept company can produce more and more
goods .company can not study the need and
wants of customer but he can manufactured
the product.
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(2) Product concept.
The second evolution of the company is the
product concepts. In this stage marketer
identified these need that product can be
manufactured according to the need of the
customer. In that product can be
manufactured which customer can wants it.
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(3)The selling concepts.
The third concept of the market is the selling
concept. In selling concept company can
realize these need that there are some outlets
can be establish which company can sell our
product.
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(4) Marketing concept.
In these concepts marketer identified these
need that it is important to communicate
message to different customer and provide
information about the product, for this
purpose company can use holistic marketing
concepts. Such as integrated marketing
concept. And relationship marketing
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What is market place, market
space.?
Market place when some one can purchase
product in the shop, such as retailer, this is
called market place.
Market space. When some one can purchase
product in the electronic system such as
internets this is called market space.
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Marketing channel.
To reached a target market a marketer use
three kind of channel. These are
(1) Communication channel. communication
channel deliver and receive message through
different buyer it include newspaper,
magzine,internet,radio,television.
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CON…
(2) Distribution channel.
The marketer use distribution channel to
display, sell or deliver the physical product to
the buyer or user, these channel include
retailer ,wholesaller,and sales force.
(3) Services channel. The marketer also use
services channel to carry out transaction on
potential buyer services channel include
transportation companies, Bank and insurance
companies.
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