Marketing Theories

Marketing vs Selling

Strategic Marketing

Marketing

IntroductionDated: Thursday, Jan 6, 2005

"A social and managerial process in which individuals and groups obtain what they need or what want, through creating, offering, and exchange of products or valuables for each other"

Role of Marketing

Get the buyer and seller near to each other

Core Concepts of Marketing

1. Need, Want and Demand

   • Need
     A state of Deprivation of some basic satisfaction

   • Want
     A desire specific satisfaction of Need

   • Demand
     Wants for specific products backed by ability and willingness to buy

2. Product
   Any thing which is offered to satisfy Need and Want
3. Value, Cost and Satisfaction

   • Value
     A consumer's estimate of the product's overall capacity to satisfy Need and Want

   • Cost
     The actual amount spent to produce a product

   • Satisfaction
     A degree of willingness to buy next time

4. Exchange and Transactions

   • Exchange Conditions
     

     1. Existance of minimum two participents
     2. Exchange must be valuable for participents
     3. All participents must communicate effectivly
     4. All participents must possess willingness to exchange
     5. Freely accept or deny the exchange offer by any participent
5. Relationship and Networking
6. Markets
   A place where buyer and seller is present with willingness to to sell and buy respectivly
7. Marketing and Prospects
   • Marketing Characteristics
     1. Matching Activity
     2. Create Utiltiy

   • Utitliy
     The capability of a product to stisfy Needs

     1. Form Utility
        A utility preference by shape and physical appearence
     2. Time Utility
        The availbility of a utility in right time
     3. Place Utility
        Utility wich can be found by certain geological positions
     4. Possession Utility
        A utility can only be enjoyed if one have its possession and capability

© 2005 -2008 MBA-IT.com, All Rights Reserved

Contact us | Privacy | Terms of Use