Introduction to Marketing

Prof. G Pravin Kumar

Assistant Prof Marketing
 WHAT IS NEED?
NEED: A State of deprivation of some basic satisfaction

Food | shelter | clothes

 WHAT IS
WANTS?

When we add choice in

need.
NEED VS
WANTS
WHAT IS
DEMAND ?
DEMAND
PRODUCT VS NEEDS

Definition with product Definition with Need focus

Focus
Railway, Bus, Truck Transportation
Movies, TV, DVD Entertainment
Fruit Juice, Fruit Drink, Nutrition
etc.
Photocopy machines, Fax Office Productivity
Fairness cream, cold Beauty
cream
Greeting, gifts Social Satisfaction
 Can you tell me your 3
immediate needs today and
3 needs tomorrow. Lets
Explore
MARKETING DEFINED @ Philip Kotler

“Marketing is a social and managerial

process by which individuals and
groups obtain what they need and
want through creating and
exchanging products and value with
other”.
Marketing Explained Simply
 3C@ Customer ,Consumer, Competition

Customer: The purchaser of goods or services is known as the

Customer.

Consumer: The end user of goods or services

Competition: is the rivalry between companies selling similar products

and services with the goal of achieving revenue, profit, and market share
growth
Does Customer, Consumer
Competition change with
Time and Situations
LETS IDENTIFY AND
UNDERSTAND
FACT SHEET- KERALA

 According to Norka, there are 40 lakh Keralites living/ working

abroad and 13.73 lakh elsewhere in the country.
 The state has a resident population of 3.48 crore.
 What Should be marketed to them:
 1)
 2)
 3)
 4)
QUESTION TIME

The process by which a firm understands the needs of its

customers through market research is described as ________; by
contrast, the process by which a firm creates its own products
based on its own vision of the future is described as ________.

a market-driving; market-driven
b value-driven; value-driving
c market-driven; market-driving
d feature-driven; benefit-derived
e customer-driven; market-driven

10/05/2022 15
Answer c
Rationale A business should understand the needs of its customers and create products that satisfy
(or delight) those customers. One way to do this is to uncover the needs of customers
through market research; the process is characterized as market-driven. In other words,
a company starts with understanding the needs of the market and then creates products
or services to satisfy those needs.
Another way to accomplish this is for the company to create products based on its own
vision of the future; this process is characterized as market-driving. In other words, a
company starts with a product or service and then explores how that product or service
creates value.
 
 
Reference 1. Introduction
Learning Objective Understand that consumers needs have to be uncovered and market research helps in
that and products and services are designed to match that unfulfilled needs .
 
 
Key Words NEEDS,WANTS,DEMANDS, MARKET RESEARCH,CUSTOMER VALUE
 
 
LETS SEE SOME ADVERTISEMENT

 1) https://www.youtube.com/watch?v=K5RMfhSeDs4
 2) https://www.youtube.com/watch?v=xM394sukAAE
 3) https://www.youtube.com/watch?v=18XHs3ORvtg
OUT OF THE BOX MARKETING
NAME THE LATEST MISS
UNIVERSE
 Q- Critically examine why she won.
 Reason---?