Core Marketing Concepts:
Needs,Wants,and Demands:
Needs are basic human requirements such as for air, food, water, clothing and shelter.Humans also have strong needs for recreation, education, and entertainment. These needs become wants when they are directed to specific objects that might satisfy the need. An Indian consumer needs food but may want a Tandoori roti and spicy vegetable curry.Whereas a person in Pakistan needs food but may want rice, lamb and/or beef curry.Wants are shaped by our society.
Shaped by our society:
Demand are wants for specific products backed by an ability and willingness to pay .Many people want a Mercedes; only a few are able to buy one.These distinctions shed light on the frequent criticism that marketers create needs or marketers get people to buy things they don't want.Marketers do not create needs:
Needs pre-exist marketers:
Marketers, along with other societal factors, influence wants.Some customers have needs of with they are not fully conscious or that they cannot articulate.
We can distinguish five types of needs:
1.Stated needs:
(The customer wants an inexpensive car.)
2.Real needs:
(The customer wants a car whose operating cost , not initial price, is low)
3.Unstated needs:
(The customer expects good service from the dealer).
4.Delight needs:
(The customer would like the dealer to include an on board GPS navigation system).
5.Secret needs:
(The customer wants friends to see him or her as a savvy consumer).
Responding only to the stated need may shortchange the customer.Consumers did not know much about cellular phones when they were first introduced,and Nokia and Ericsson fought to
shape consumer perceptions of them.To gain an edge, companies must help customers learn what they want.
Target Markets, Positioning ,and Segmentation:
Not everyone like the same cloth, restaurant, college or movie.Therefor,marketers start by dividing the market into segments .They identify and profile distinct groups of buyers who might prefer or require varying product and service mixes by examining demographic, psycho graphic and behavioral differences among buyers. After identifying market segments ,the marketer decides which present the greatest opportunities which are its target markets.
Offerings and Brands:
Companies address customer needs by putting forth a value proposition , a set of benefits that satisfy those needs.The intangible value proposition is made physical by an offering, which can be a combination of product, services, information , and experiences. A brand is an offering from a known source.A brand name such as McDonald's carries many associations in people;s minds that make up its image:hamburgers, cleanliness, convenience , courteous service and golden arches. All companies strive to build a brand image with as many strong,favorable and unique brand associations as possible.
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