The document discusses marketing and communication. It defines marketing as identifying and satisfying customer needs while meeting business goals. It explains that successful marketing involves identifying unmet needs and delivering superior value to customers through benefits, reduced costs, and risk reduction. Communication aims to gain customer attention, awareness, understanding, liking, purchase orientation, and future recall of a product or brand in order to overcome situations where customers do not know, need, or trust the product and motivate them to purchase.
The document discusses marketing and communication. It defines marketing as identifying and satisfying customer needs while meeting business goals. It explains that successful marketing involves identifying unmet needs and delivering superior value to customers through benefits, reduced costs, and risk reduction. Communication aims to gain customer attention, awareness, understanding, liking, purchase orientation, and future recall of a product or brand in order to overcome situations where customers do not know, need, or trust the product and motivate them to purchase.
The document discusses marketing and communication. It defines marketing as identifying and satisfying customer needs while meeting business goals. It explains that successful marketing involves identifying unmet needs and delivering superior value to customers through benefits, reduced costs, and risk reduction. Communication aims to gain customer attention, awareness, understanding, liking, purchase orientation, and future recall of a product or brand in order to overcome situations where customers do not know, need, or trust the product and motivate them to purchase.
Marketing is the management process which identifies,
anticipates, and satisfies customer requirements competitively, while simultaneously meeting organizational goals. What is Successful Marketing Process Identify preexisting and / or create wants that are unfulfilled, inadequately met, partially met, or latent. Deliver a superior competitive value to the target customer through: Delivery of benefits: Reduction in costs: Risk apprehensions: Customer evaluation Why Communicate Six A’s of communication effects: Attention (Initial and sustained) Awareness (Recall and recognition) Assimilation (Comprehension) Acceptance (Liking and preference) Action orientation (Purchase or purchase related orientation) Adsorption (Future recall) Why Would Someone Not Buy and What Can Communication Do? Situation I do not know you (product category and / or brand) I do not need the product category I do not need the brand because: It fails to convince me about relevance of benefits It fails to establish its relative superiority (value delivery) It fails to motivate me to buy it / charge me emotionally I hold a view contrary to what the marketer is saying: About the product category itself About the marketer’s brand Role of Communication Communication should Make the audience accept the existing need gap / create one Tell the customer about marketer’s effort towards generating (knowledge, finance) abilities Communicate about the opportunities created to purchase the product Provide motivational (Negative / positive) cues to induce action.