Marketing Core Concepts

Marketing perform 2 primary task

1. Discovering customers needs.

2. Satisfying those needs.

Needs

Basic human requirements; a state of felt deprivation.

Do marketers create need?

Wants

A specific object that can satisfy a need

Demands

Wants for specific products backed by the affordability

Marketing Debate
Does Marketing Create or Satisfy Needs?!!

Marketing Mix (4Ps)

    4ps                                                                4Cs

Product                                                       Customer solution

Price                                                            Customer cost

Place                                                           Convenience

Promotion                                                   Communication (two ways of communication, integrate

                                                                     the customer’s voice into your marketing strategy)