core concepts of marketting

8. Terminologies
• Need, want and demand
• Market
• Business
• Marketing
• Concept

9. Need, want and
demand
Need: Is the state of felt deprivation.
The state at which our inner self demand
some thing.
For example:
Basic needs= Foods, Shelter, Clothes &
FMCGs etc.
Want: it is something that human get from
different culture and personality.
This can be say "Human wants is to satisfy
their needs. Food is our "need.
In this case, you can choose to have fast
foods in western countries and hot cakes in
countries like pakistan, it depends upon
personalities and culture.

10. Demand
Is from the human wants that
are backed by the buying power.
Have in mind that, "buying
power" is a disposal income.
Example: a person want to
purchase a motor car then he
will have the option of Suzuki,
Toyota and Honda then he will
decide according to his paying
capacity.

11. Market
A place where buyers and sellers
are meet for the purpose of
exchanging or doing transactions
for their own satisfaction.
The set of all actual and potential
buyers of a product or service.
Example: like Asian market & European
market.

12. Business
• Any legal activity that is done for the
sake of profit at any level and at any
cost.
• An economic system in which goods and
services are exchanged for one another
or money on the basis of their perceived
worth.
• Example: cotton ginning miles, sugar
miles.

13. Marketing
• Satisfying customers with profitability.
• Delivery of satisfaction to the customers.
• Satisfying needs and wants through an
exchange process (Philip Kotler ).
• The management process responsible for
identifying , anticipating and satisfying
customer requirements profitably
(Chartered Institute of Marketing ) .
• Example: marketing of Pepsi, nestle etc.

14. Concept
• It is an idea or technique that can
be implemented for achievements
of specific objectives and goals.
• An idea of something formed by
mentally combining all its
characteristics or particulars.
• Example: core concept of marketing.

15. Five core concepts of
marketing
•
•
•
•
•
Production concept
Product concept
Selling concept
Marketing concept
Societal marketing concept

16. Five core concepts of
marketing
Core concepts
Production
socitiel
selling
product
marketin
g

17. Production concept
The idea that consumers will
favour products that are available
and highly affordable and that the
organization should therefore
focus on improving production and
distribution efficiency.

18. Example of production concept
History: Honda has been the world's largest motorcycle
manufacturer since 1959 as well as the world's largest
manufacturer of internal combustion engines measured by
volume, producing more than 14 million internal combustion
engines each year .
Honda usually follows the production concept to satisfy
their customers & to achieve the company’s goals.
(More you produce more you earn)

20. Product concept
The idea that consumers will favor products
offers the most quality, performance and
features and that there organization should
therefore devote its energy to making
continues product improvements.

21. Example of product concept
Nokia highly used the product concept
and provides variety of cell phones
having some thing new and innovative
in every new coming cell phone.

23. Selling concept
The idea that consumers will not buy
enough of the firm’s product unless it
undertakes a large scale selling and
promotion effort.

25. Example of selling concept
Pepsi hires the cricket
stars for their
promotional activates for
raising their sales.

26. Marketing concept
The marketing management philosophy that
achieving organizational goals depends on
knowing the needs and wants of target
markets and delivering the desired
satisfactions to buyers better then
competitors.

27. E
x
a
m
p
l
e

29. The selling and marketing
concepts
Starting
point
Factory
Market
focus
existing product
costumer need
means
selling and promoting
integrated market
ends
profits through
sale volume
profit through
costumer
satisfaction

30. Societal marketing
concept
A principle of enlightened marketing
that holds a company should make
good marketing decisions by
considering consumers wants the
company’s requirement costumer’s
long term interests and society’s long
run interests.

31. Example

32. Why strategies to be develped
• To create goodwill.
• To make maximum profit.
• To make profitable relationship with
costumers.
• Satisfying costumers as per companies
objectives.
• To promote sales.

33. Question session