Basics of Marketing

Lecture # 2 17th October 2014

Dr. Yasir Rashid
Department of Marketing
School of Business and Economics
University of Management and Technology

Need

What are those

Problems?

Think!
Need
Coca
Cola/Gourmet
Cola
Cell Phone
Shoe

Thirst / Liquid

Want
Soft Drink

Telephonic
Device
Shoe

Dema
nd
Coca Cola or
Gourmet
Cola

Think!
Need

Want Deman
d

Gourmet Cola
Mobile

Thirst / Liquid

Softdrink

Gourmet Cola

Communication

Telephonic
Device

Samsung/Ipho
ne

Shoe

Safety for feet

Shoe

Bata/ Starlet

Want or Demand?

Marketing Myopia
Product is a Want, which
satisfies consumer needs.
Seller Suffer from Marketing
Myopia.
Focus on Want, rather than Need.

What Happens Then?

How?
Through a well defined Marketing
Process
Marketing Process Starts from
Understanding What?
Then Doing What?
And Then What?
Long Term Relationships are built in
the end

History of
Marketing Orientations

Production Orientation
High Prod. Efficiency, Low cost, Buyer will
buy

Production Orientation Leads to

Marketing Myopia.
Seller is too much focused internally,
forgets customer!
Oldest Orientation!

History of
Marketing Orientations

Product Orientation
High in Quality, Added Features

Continuous Product Development and

Improvements
Seller is too much focused on the
product, and expects customer to
respond positively to it!

History of
Marketing Orientations

Selling Orientation
Large Scale Selling

Customer will only buy if products

uses a large scale selling and
promotion.
Seller is too much focused on the sales
transactions rather than building
relationships.

History of
Marketing Orientations

Market Orientation
Market Research, Needs and Wants, Better
offering to target market than competitors

Dont find the right customer for your

product, but right product for your
customer.

History of
Marketing Orientations
Selling Orientation Starts from Factory
and ends in Profits through Sales.
Marketing Orientation Starts from
Market, and ends in profits through
customer satisfaction.
Customer Driving Marketing
Our goal is to lead customer where they
want to go before they know where they
want to go- 3M

Have you heard of 4, 5, 7

Ps of Marketing

Overview of
Core Concept
Product
Which satisfies the needs and wants of the target
market.

Price
Price which the target market is able to, or want to
pay for the product.

Place
Location where the product will be available.

Promotion
How to create awareness among target market?

Thank You