CORE

CONCEPTS OF
MARKETING
Presented by
GAURAV AGARWALA
PRABIN DAS
 1. NEEDS AND
WANTS
Needs: These are the basic requirements for survival
and include things like food, water, shelter, and
clothing. Needs are essential for sustaining life and are
relatively universal across individuals.

Wants: Wants are desires that go beyond basic needs.

Wants can vary greatly from person to person and are
often influenced by factors such as income, lifestyle,
and aspirations
 2. TARGETING
A target market refers to a specific group of consumers
that a company aims to reach with its products or services.
This group is characterized by certain demographic,
geographic, psychographic, and behavioural attributes.
Target marketing enables companies to allocate their
resources efficiently
 3. CUSTOMER
SATISFACTION
Customer satisfaction refers to the extent to which
customers are pleased with a company's products, services,
or experiences. It is influenced by factors such as product
quality, price, convenience, customer service, and brand
reputation.
 4.MARKET
SEGMENTATION
Definition: Market segmentation involves dividing a
heterogeneous market into smaller, more homogeneous
groups based on shared characteristics or needs. This process
allows companies to better understand and target specific
consumer segments with tailored marketing strategies.

Types of Segmentation: Segmentation can be based on

demographic factors (age, gender, income), geographic
location, psychographic traits
 5.TRAGETING AND
POSITIONING
Targeting: Targeting involves selecting the most
attractive market segments to focus on based on factors
such as segment size, growth potential, competition.

Positioning: Positioning refers to the way a company's

products or brands are perceived in the minds of
consumers. It involves creating a distinct and desirable
image for the product or brand that sets it apart from
competitors
 6. CUSTOMER RELATIONSHIP
MANAGEMENT
CRM is a strategy and set of practices designed to manage a
company’s interactions with current and potential customers.
It leverages data analysis about customers' history with the
company to improve business relationships, focusing on
customer retention and ultimately driving sales growth
CRM centers around understanding and meeting the needs
of customers, foster long term relationships, utilize
technology to integrate customer information across various
channels.
 7. SOCIAL RESPONSIBILITY
AND ETHICS
Social responsibility and ethics in marketing involve the
obligation of businesses to act in ways that benefit society
and adhere to moral principles. This includes being
transparent, fair, and respectful in their marketing practices.

Safeguarding consumer rights by providing accurate

information, ensuring product safety, and maintaining
privacy and Implementing eco-friendly practices in
production, packaging, and distribution to minimize
environmental impact.
 8. DIGITAL
MARKETING
Digital marketing is the use of digital channels to market
products and services in order to reach consumers. Digital
marketing involves promoting products or services using
digital channels, such as search engines, social media,
email, and websites.

Establishing and maintaining a strong online presence

through websites, social media profiles, and other digital
platforms and Using analytics tools to track and measure the
performance of digital marketing campaigns, allowing for
data-driven decision-making and continuous improvement
 9. INTEGRATED MARKETING
COMMUNICATION
It is a strategic approach to marketing that focuses on the
customer and not the product or service. IMC is the
strategic coordination of all communication and
promotional efforts to ensure a unified message across all
channels and touchpoints.

It ensures that all marketing messages are consistent across

various channels, including advertising, public relations,
direct marketing, and digital media, tailoring
communications to meet the needs and preferences of the
target audience, ensuring relevancy and resonance.
 10. Marketing
orientation
Marketing orientation is a business approach that
prioritizes identifying and meeting the needs and wants of
customers as the primary focus of the company.

Understanding and addressing the needs and desires of

customers to create value and satisfaction and conducting
research to gather insights about customer preferences,
market trends, and competitive dynamics and regularly
updating and refining products, services, and marketing
strategies based on customer feedback and market changes
 11. VALUE
PROPOSITION
A value proposition is a clear statement that explains how a
product or service solves a problem, provides benefits, and
differentiates from competitors.

Highlighting the specific benefits and value that customers

will receive from the product or service, Ensuring that the
value proposition is aligned with the needs, desires, and
priorities of the target market.