What do you mean by marketing? explain core concepts of marketing?
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Marketing is the process of interesting potential customers and clients in your products and/or services. The key word in this marketing definition is "process"; marketing involves researching, promoting, selling, and distributing your products or services.
There are top 5 core concepts of marketing. These are given and explain below.
1. Needs, Wants and Demands
Most basic or core concept of fundamental marketing is that of human needs, wants and demands.
A. Needs
Identifying of unfulfilled needs is the pre-condition of making successful of marketing activities. Marketers try to satisfy the needs of customers.
For example, needs are food, clothing, warmth, safety, shelter etc.
B. Wants
Wants are the options of satisfying needs that shaped by culture and individual personality. Human beings must require food but what type of food they will take that is depended on cultural and social of individually.
C. Demands
When needs arise, wants became for specific products that are backed by the ability and willingness of consumers to buy the products that is call demands.
2. Marketing Offerings
Marketing Offering is that making ensuring of consumers satisfaction. Marketing offer is one kind of offer that marketer makes as per requirements of a consumer.
3. Value and Satisfaction
Value and satisfaction is very important on marketing core concept.
4. Exchanges and Relationships
Exchange and relationship is always very important in core concept of marketing.
5. Market
Marketing follows market. Market is a set of present and future buyer. Market is a place where buyers and sellers are come in touch with detailed information about what sellers are offer and what buyers are ready to buy.
There are top 5 core concepts of marketing. These are given and explain below.
1. Needs, Wants and Demands
Most basic or core concept of fundamental marketing is that of human needs, wants and demands.
A. Needs
Identifying of unfulfilled needs is the pre-condition of making successful of marketing activities. Marketers try to satisfy the needs of customers.
For example, needs are food, clothing, warmth, safety, shelter etc.
B. Wants
Wants are the options of satisfying needs that shaped by culture and individual personality. Human beings must require food but what type of food they will take that is depended on cultural and social of individually.
C. Demands
When needs arise, wants became for specific products that are backed by the ability and willingness of consumers to buy the products that is call demands.
2. Marketing Offerings
Marketing Offering is that making ensuring of consumers satisfaction. Marketing offer is one kind of offer that marketer makes as per requirements of a consumer.
3. Value and Satisfaction
Value and satisfaction is very important on marketing core concept.
4. Exchanges and Relationships
Exchange and relationship is always very important in core concept of marketing.
5. Market
Marketing follows market. Market is a set of present and future buyer. Market is a place where buyers and sellers are come in touch with detailed information about what sellers are offer and what buyers are ready to buy.
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