Marketing Fundamentals
1. What is Marketing?
Presentation 2. Understanding Needs, Wants, and
Demand
Agenda
3. The Marketing Mix (4 Ps)
4. Target Market and Product Positioning
5. Ethics and Social Responsibility in
Marketing
What is Marketing?
Marketing is engaging customers and
managing profitable relationships. It is
identifying and meeting human and social
needs. Marketing aims to satisfy needs and
wants through exchange processes.
Understanding Basic Needs
1. Needs are essential for human survival
and well-being.
2. Marketing identifies and fulfills consumer
needs effectively.
3. Physiological, safety, social, esteem, self-
actualization are types of needs.
Understanding a 'Want'
1. A 'want' is a specific desire satisfying a
need.
2. It is a non-essential desire, not necessary
for survival.
3. Wants are shaped by culture, personality,
and marketing.
Understanding Demand
1. Demand is the desire backed by the ability
to purchase something.
2. Effective marketing can create demand for
products and services.
3. Demand fluctuates based on price,
availability, and consumer preferences.
Understanding Marketing Myopia
Marketing myopia is when a company focuses on selling products
rather than fulfilling customer needs. This short-sightedness can
lead to a business's decline as competitors offer better solutions.
Avoid myopia by understanding what consumers truly want and
adapt accordingly.
What is Marketing?
Marketing is the process of creating,
communicating, and delivering value to
customers. It involves understanding their
needs and wants, and developing products
or services to satisfy them. Effective
marketing builds strong relationships
between a company and its customers,
leading to loyalty and repeat business.
The Marketing Mix (4 Ps)
1. Product: What you are selling, features,
design, branding elements.
2. Price: How much are customers willing to
pay for it.
3. Place: Where the product is sold and how
to reach customers.
Understanding Market Segmentation
Market segmentation divides a broad consumer or business
market into sub-groups of consumers based on shared
characteristics. This allows for more targeted and effective
marketing strategies. Ultimately leading to increased sales and
brand loyalty.
Selecting Target Markets
Targeting involves evaluating the attractiveness of different market
segments and deciding which ones to enter. Effective targeting
focuses on segments where a company can profitably generate
the greatest customer value and sustain it over time. This strategic
decision is crucial for optimizing marketing efforts and achieving a
competitive advantage.
What is Product Positioning?
Positioning is establishing a product's identity in the consumer's
mind. Effective positioning differentiates a brand from its
competitors. This shapes how consumers perceive its value and
relevance.
Value Proposition Explained
A value proposition summarizes why a consumer should buy a
product or use a service. It highlights how your product solves
problems or improves the customer’s situation. It delivers specific
benefits, telling the ideal customer why you are different and better
than the competition.
Marketing Goals
Marketing aims to deliver value to
customers and build strong relationships. It
involves understanding customer needs and
offering suitable products. Effective
communication of value is also essential for
success.
Attracting New Customers
1. Content marketing to educate prospects
and build trust online.
2. Social media engagement to connect and
build brand awareness.
3. Search engine optimization (SEO) to
improve visibility online.
Keeping Customers Loyal
1. Loyalty programs reward repeat purchases
and foster customer connection.
2. Excellent customer service builds trust and
increases satisfaction levels.
3. Personalized communication creates value
and strengthen relationships with customers.
Boosting Sales with Marketing
Marketing encompasses activities and processes for creating,
communicating, delivering, and exchanging offerings that have
value for customers, clients, partners, and society at large. The
primary goal is to identify and satisfy customer needs while
achieving organizational objectives. Effective marketing not only
drives sales but also shapes consumer behavior and influences
societal trends.
What is Brand Equity?
Brand equity is the added value to a product or service. This value
is reflected in how consumers think, feel, and act towards the
brand. Strong brand equity can lead to higher sales and customer
loyalty.
Marketing's Social Footprint
Marketing influences our choices and
behaviors daily. It shapes our perceptions of
needs and desires. Understanding its social
impact is crucial for responsible
consumption.
Marketing's Influence on
Consumers
1. Advertising creates desires and influences
purchasing decisions of the customers.
2. Branding builds trust, loyalty, and
perceived value among customers.
3. Marketing shapes needs and expectations
for products and services.
Marketing and Culture
Cultural trends are patterns of behavior, beliefs, and values that
emerge and evolve within a society. Marketing both reflects and
shapes these trends by understanding and responding to
consumer preferences. This dynamic interplay drives innovation
and influences societal norms.
Marketing Ethics: A Moral Compass
Ethical marketing respects consumers and society. It avoids
deceptive practices, promoting honesty and transparency.
Campaigns should consider potential harm, ensuring
responsibility.
Marketing's Social Responsibility
Social responsibility in marketing involves making ethical choices.
Companies consider their impact on society and the environment.
This helps build trust and a positive brand image.
Marketing: Test Your Knowledge
What is marketing, and what are its primary goals? How does
marketing influence society, both positively and negatively?
Provide examples of marketing strategies and explain their
effectiveness.
Thank You!
Thank you for your time and attention! I hope you found this
presentation informative and engaging. Feel free to ask any
questions you may have.
1. Marketing is about creating value and building
relationships with customers.
Key Takeaways 2. Understanding customer needs and wants is
crucial for success.
3. The 4 Ps (Product, Price, Place, Promotion)
Summarizing the are essential elements of the marketing mix.
core concepts of 4. Ethical and socially responsible marketing is
marketing vital for long-term sustainability.
5. Effective marketing drives sales, shapes
consumer behavior, and influences society.
