Core Concepts of Marketing Dr. Prabhat K. Dwivedi - Insights and Visuals
Explore the core concepts of marketing as presented by Dr. Prabhat K. Dwivedi, an Associate Professor at School of Business Management, CSJM University Kanpur. Dive into key topics such as marketing systems, marketing vs. sales, needs, wants, demands, marketing channels, segmentation, and more through informative visuals. Understand the strategic marketing process and the essential elements of the marketing mix. Discover the diverse demand states and how marketing can be performed by individuals as well as organizations. Gain insights into creating, capturing, delivering, and communicating value to customers.
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Presentation Transcript
CORE CONCEPTS OF MARKETING DR PRABHAT K. DWIVEDI ASSOCIATE PROFESSOR SCHOOL OF BUSINESS MANAGEMENT CSJM UNIVERSITY KANPUR
Marketing System Communication P Physical Goods/ Services Seller (Industry) Buyer (Market) Money Information
MARKETING VS. SALES Sales oriented process Produce Sell Marketing process Communicate the Value Create the Value Deliver the Value
1-4 CORE CONCEPTS NEEDS, WANTS, AND DEMANDS MARKETING CHANNELS SEGMENTATION, TARGET MARKETS, POSITIONING, SUPPLY CHAIN COMPETITION OFFERINGS AND BRANDS MARKETING ENVIRONMENT VALUE AND SATISFACTION MARKETING PLANNING May 9, 2025
I WANT IT, I NEED IT.. 5 TYPES OF NEEDS STATED NEEDS REAL NEEDS UNSTATED NEEDS DELIGHT NEEDS SECRET NEEDS 1-5 May 9, 2025
DEMAND STATES 1-6 NEGATIVE- CONSUMERS DISLIKE THE PRODUCT & MAY EVEN PAY TO AVOID IT. NONEXISTENT- CONSUMERS MAY BE UNAWARE OF OR UNINTERESTED IN THE PRODUCT. LATENT- CONSUMERS MAY SHARE A STRONG NEED THAT CANNOT BE SATISFIED BY AN EXISTING PRODUCT. DECLINING- CONSUMERS BEGIN TO BUY THE PRODUCT LESS FREQUENTLY OR NOT AT ALL. IRREGULAR- CONSUMERS PURCHASE VARY ON A SEASONAL, MONTHLY, May 9, 2025 WEEKLY ETC. BASIS. UNWHOLESOME- CONSUMERS MAY BE ATTRACTED TO PRODUCTS THAT HAVE
MARKETING MIX Product Price 4Ps Place Promotion
MARKETING MIX AND THE CUSTOMER 1-8 Value Aspect Creating Value Capturing Value Delivering Value Communicating Value FOUR PS FOUR CS PRODUCT CUSTOMER SOLUTION PRICE CUSTOMER COST PLACE CONVENIENCE PROMOTION COMMUNICATION May 9, 2025
MARKETING CAN BE PERFORMED BY BOTH: INDIVIDUALS & ORGANIZATIONS B2B C2C Manufacturer Retailer Customer A Customer B B2C
STRATEGIC MARKETING PROCESS Marketing Mix -Product -Price -Place -Promotion Business Analysis -Customer -Competitor Company Marketing Strategy -Segmentation -Targeting -Positioning
WHY IS MARKETING IMPORTANT? Expands global presence Pervasive across channel members Importance of Marketing Enriches society Can be Entrepreneurial
1-12 MARKETING MANAGEMENT TASKS DEVELOPING MARKETING STRATEGIES SHAPING MARKET OFFERINGS CAPTURING MARKETING INSIGHTS DELIVERING VALUE COMMUNICATING VALUE CONNECTING WITH CUSTOMERS CREATING LONG-TERM GROWTH BUILDING STRONG BRANDS May 9, 2025
