Asalam-o-Alaikum dear friends, I hope you would be fine, Dear friends today i am going to upload a lecture of Principle of Marketing, which is provided by Sir, Engr. Abdul Salam Malah.
What Is Marketing?
Marketing is a process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return.
The Marketing Process
Understanding the Marketplace and Customer Needs
- Needs States of deprivationNeeds
- Wants Form that needs take
- Demands Wants backed by buying power
- Needs States of deprivationNeeds
- Wants Form that needs take
- Demands Wants backed by buying power
Market offerings are some combination of products, services, information, or experiences offered to a market to satisfy a need or want.
Marketing myopia is focusing only on existing wants and losing sight of underlying consumer needs.
Customer Value and Satisfaction
Exchanges and Relationships
Exchange is the act of obtaining a desired object from someone by offering something in return.
Marketing actions try to create, maintain, and grow desirable exchange relationships
Markets
Selecting Customers to Serve
Marketing management is the art and science of choosing target markets and building profitable relationships with them.
– What customers will we serve?
– How can we best serve these customers?
Market segmentation refers to dividing the markets into segments of customers.
Target marketing refers to which segments to go after
Choosing a Value Proposition
A brand’s value proposition is the set of benefits or values it promises to deliver to customers to satisfy their needs
Designing a Customer Value-Driven Marketing Strategy
Market Management Orientations
Note: For complete lecture download below given pdf file.
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