Products or offering & Supply chain

Products or offering

Needs ,Wants and Demands

01.9 Needs ,Wants and Demands

The marketer must try to understand the target market’s needs, wants and demands. Needs are the basic human requirements. People need food, air, water, clothing and shelter to survive. People also have strong needs for education, recreation and other services. These needs are not created by society or by marketers. They exist in the very texture of human biology and the human condition.

KEY WORD OF MARKETING

01.5 Target market

A company normally cannot satisfy all customers in a market. The customers are too numerous and diverse in their buying requirement. Instead of competing everyone in the market, the company needs to identify the market segments that it can serve most effectively. Therefore, marketers start by the market.

KEY WORDS OF MARKETING

01.3 Market

The concept of markets us full circle to the concept of marketing, simply marketing means working with markets to actualize potential exchanges for the purpose of satisfying consumer needs &wants.

THE IMPORTANCE OF MARKETING IN A SOCIETY

It is generally accepted that the standard of living of people of any society is determined by the level and quality of marketing activities carried out by various parties within a society, individuals and households are fulfilling their need and want through the marketing function taking place within the society.

DEFINITIONS OF MARKETING

 01.DEFINITIONS OF MARKETING
people obtain what they need & want through creating ,offering and exchange value products

marketing is a managerial process by which individuals and groups obtain  what they need & want through creating ,offering and exchange value products.( kotler-2006)