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Core Concept of Marketing

Core Concept of Marketing. Needs, Wants, & Demand. Sim & RT. Needs. Definition: Basic requirement. Have to have or Necessary for life. Example: food, clothes, shoes . Extended Needs Health, Education, (individual) Body & Mind Friends, family, (social)

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Core Concept of Marketing

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  1. Core Concept of Marketing Needs, Wants, & Demand Sim & RT

  2. Needs • Definition: Basic requirement. Have to have or Necessary for life. • Example: food, clothes, shoes ..

  3. Extended Needs • Health, Education, (individual) Body & Mind • Friends, family, (social) Belonging & Affection.

  4. Wants • Definition: Directed to specific objects that might satisfy individual human needs. • Example: Mooyor needs food, but she wants hamburgers.

  5. DemandsNeeds + Wants = Demands • Definition: wants backed by buying power. • Example: Jocky is willing to buy an airplane, but if he doesn’t have the buying power then its nothing more then a wish . Jocky is willing to buy a motorbike but if he has the buying power then it becomes Demand.

  6. Conclusion • As a manager or marketer, there is no role for creating needs, they are natural basic requirements of people. • Managers and marketers must focus on wants and demands. It can help them to design product and serve people better. Which means get satisfactions from customer and easier success in marketing. • Apple • Blue Ocean strategy

  7. Tricky stores: to make you more confused • You have a pet(cat, dog, rabbit, etc), your pet needs food, but you don’t have money to buy pet’s food in TOPS(central supermarket). Because pet’s food is expensive and your pet only eat food from TOP(it can cost you 5000 per week). • Question: Is it a need, want, demand?

  8. Mr. Someone creates a new “product”, it can help you cheat in exams and no one will know you are cheating when you use this “product” in an exam. It can help you get A easier. DO you want A in class? • Question: Will product this product become a new demand of the market?

  9. Thank you very much!!! • We are happy if we can make you confuse again.

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