Marketing and core concepts of marketing
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Nov 01, 2025
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About This Presentation
Presentation explains marketing and its core concepts like needs, wants and demand. Then it covers understanding product, customer value, customer satisfaction and loyalty. It also explains exchange and transaction, market and marketers. Then 7p's of marketing is covered. Lastly, presentation pu...
Slide Content
The Core Concept of
Marketing
Marketing is the cornerstone of business success,
bridging the gap between what customers need and
what companies offer.
Understanding its fundamental principles empowers
organizations to create meaningful connections, drive
growth, and build lasting relationships in today's
dynamic marketplace.
Marketing
Marketing is the cornerstone of business success,
bridging the gap between what customers need and
what companies offer.
Understanding its fundamental principles empowers
organizations to create meaningful connections, drive
growth, and build lasting relationships in today's
dynamic marketplace.
What Is Marketing?
Marketing is a comprehensive social and managerial process through which
individuals and groups obtain what they need and want by creating, offering,
and exchanging value.
At its essence, marketing builds bridges between customer needs and
innovative solutions.
It is a dynamic process that involves understanding customer desires,
developing products and services that deliver real value, and facilitating
exchanges that benefit both parties at a competitive price.
An effective marketing approach recognizes that successful businesses don't
merely push products—they attract customers by genuinely understanding
and addressing their fundamental needs and aspirations.
Modern marketing adopts a holistic perspective that encompasses internal
marketing, relationship marketing, performance marketing, and integrated
marketing communications (IMC), all of which are increasingly connected
and enhanced through technology.
Marketing is a comprehensive social and managerial process through which
individuals and groups obtain what they need and want by creating, offering,
and exchanging value.
At its essence, marketing builds bridges between customer needs and
innovative solutions.
It is a dynamic process that involves understanding customer desires,
developing products and services that deliver real value, and facilitating
exchanges that benefit both parties at a competitive price.
An effective marketing approach recognizes that successful businesses don't
merely push products—they attract customers by genuinely understanding
and addressing their fundamental needs and aspirations.
Modern marketing adopts a holistic perspective that encompasses internal
marketing, relationship marketing, performance marketing, and integrated
marketing communications (IMC), all of which are increasingly connected
and enhanced through technology.
Needs, Wants, and Demands: The
Foundation
Understanding the distinction between needs, wants, and demands is critical
for effective marketing strategy: These three concepts form the bedrock upon
which all marketing activities are built.
Needs
Basic human requirements essential
for survival and well-being—food,
water, shelter, safety, belonging, and
esteem.
These are universal and
fundamental, forming the baseline
of Maslow’s hierarchy.
Demands
Specific
by culture, personality, and
individual preferences.
While you need commun
tion,
you might want to own the latest
smartphone to satisfy belonging
Wants backed by purchasing power and willingness to buy:
This is where desire meets financial capability—transforming wishes into
actual market opportunities that business
s can capture.
Foundation
Understanding the distinction between needs, wants, and demands is critical
for effective marketing strategy: These three concepts form the bedrock upon
which all marketing activities are built.
Needs
Basic human requirements essential
for survival and well-being—food,
water, shelter, safety, belonging, and
esteem.
These are universal and
fundamental, forming the baseline
of Maslow’s hierarchy.
Demands
Specific
by culture, personality, and
individual preferences.
While you need commun
tion,
you might want to own the latest
smartphone to satisfy belonging
Wants backed by purchasing power and willingness to buy:
This is where desire meets financial capability—transforming wishes into
actual market opportunities that business
s can capture.
Products and Value
Understanding Products
Products encompass anything offered to a market to satisfy a need or want.
This broad definition includes tangible goods, intangible services,
experiences, events, persons, places, organizations, information, and ideas.
A car is a product, but so is a concert, a vacation destination, or even a
political candidate. This expansive view helps marketers recognize the full
spectrum of value they can deliver.
Customer Value
‘The customer's evaluation of the difference between all the benefits and all
the costs of a product.
Benefits include functional utility, emotional satisfaction, and social status.
Costs encompass money, time, effort, and psychological investment.
Understanding Products
Products encompass anything offered to a market to satisfy a need or want.
This broad definition includes tangible goods, intangible services,
experiences, events, persons, places, organizations, information, and ideas.
A car is a product, but so is a concert, a vacation destination, or even a
political candidate. This expansive view helps marketers recognize the full
spectrum of value they can deliver.
Customer Value
‘The customer's evaluation of the difference between all the benefits and all
the costs of a product.
Benefits include functional utility, emotional satisfaction, and social status.
Costs encompass money, time, effort, and psychological investment.
Customer Satisfaction
Customer satisfaction refers to the degree to which a company’s products or
services meet or exceed customer expectations.
It’s a vital indicator of how well a business understands and fulfills customer
needs and wants.
It plays a central role in marketing success, as it influences brand
reputation, customer retention, customer loyalty and overall profitability.
Satisfied (P = E):
When the actual performance equals expectations, the customer is satisfied.
| Example: A phone performs exactly as advertised.
Delighted (P > E):
When actual performance exceeds expectations, the customer is delighted or positively
surprised.
Example: A hotel upgrades a guests room for free — exceeding what they expected.
Dissatisfied (P < E):
When actual performance falls short of expectations, the customer is dissatisfied.
Example: A product breaks sooner than promised.
Customer satisfaction refers to the degree to which a company’s products or
services meet or exceed customer expectations.
It’s a vital indicator of how well a business understands and fulfills customer
needs and wants.
It plays a central role in marketing success, as it influences brand
reputation, customer retention, customer loyalty and overall profitability.
Satisfied (P = E):
When the actual performance equals expectations, the customer is satisfied.
| Example: A phone performs exactly as advertised.
Delighted (P > E):
When actual performance exceeds expectations, the customer is delighted or positively
surprised.
Example: A hotel upgrades a guests room for free — exceeding what they expected.
Dissatisfied (P < E):
When actual performance falls short of expectations, the customer is dissatisfied.
Example: A product breaks sooner than promised.
Customer Loyalty
Customer loyalty refers to the consistent preference and commitment a customer shows
toward a particular brand, product, or service over time even when competitors offer
similar products or lower prices.
Loyal customers are less sensitive to price changes, generate higher customer lifetime value
(CLV), provide word-of-mouth promotion, and reduce marketing costs, as retaining
customers is cheaper than acquiring new ones.
Loyalty arises from positive experienc
based connections with the brand.
, high satisfaction, and strong emotional or value-
Customer loyalty is a key goal of relationship marketing and long-term brand strategy.
Types of Customer Loyalty
Behavioral Loyalt;
Based on repeated purchases of the same brand out of habit or convenience.
Attitudinal Loyalty
Reflects emotional attachment, trust, and advocacy
Situational Loyalty:
Loyalty shown only under certain circumstances, such as when there are discounts or
limited alternatives.
Customer loyalty refers to the consistent preference and commitment a customer shows
toward a particular brand, product, or service over time even when competitors offer
similar products or lower prices.
Loyal customers are less sensitive to price changes, generate higher customer lifetime value
(CLV), provide word-of-mouth promotion, and reduce marketing costs, as retaining
customers is cheaper than acquiring new ones.
Loyalty arises from positive experienc
based connections with the brand.
, high satisfaction, and strong emotional or value-
Customer loyalty is a key goal of relationship marketing and long-term brand strategy.
Types of Customer Loyalty
Behavioral Loyalt;
Based on repeated purchases of the same brand out of habit or convenience.
Attitudinal Loyalty
Reflects emotional attachment, trust, and advocacy
Situational Loyalty:
Loyalty shown only under certain circumstances, such as when there are discounts or
limited alternatives.
Exchange and Transactions: The Heart of Marketing
Exchange
The act of obtaining a desired product from someone by offering something valuable in return.
This simple concept underpins all commercial activity and relationship building,
AtLeast TwoParties Mutual Value ‘Communication Capability
Exchange requires a minimum of wo participants, each with Each party must possess something of value tothe other party Partics must be able to communicate and deliver what theyre
something the other values offering
Freedom to Choose Desirability
Each party is free to accept or reject the exchange offer Each party belioves its appropriate or desirable to deal with the other
Transactions: Making Exchange Concrete
Transactions are the measurable units of exchange, involving specific terms,
agreed-upon timing, and designated places.
A transaction might be monetary (buying a laptop for $1,200) or barter-based
(trading services for goods).
Each transaction represents a moment where value changes hands and
relationships are either built or broken.
Exchange
The act of obtaining a desired product from someone by offering something valuable in return.
This simple concept underpins all commercial activity and relationship building,
AtLeast TwoParties Mutual Value ‘Communication Capability
Exchange requires a minimum of wo participants, each with Each party must possess something of value tothe other party Partics must be able to communicate and deliver what theyre
something the other values offering
Freedom to Choose Desirability
Each party is free to accept or reject the exchange offer Each party belioves its appropriate or desirable to deal with the other
Transactions: Making Exchange Concrete
Transactions are the measurable units of exchange, involving specific terms,
agreed-upon timing, and designated places.
A transaction might be monetary (buying a laptop for $1,200) or barter-based
(trading services for goods).
Each transaction represents a moment where value changes hands and
relationships are either built or broken.
Markets and Marketers
What Is a Market?
A market consists of all potential customers who
share a particular need or want and have the ability,
willingness, and authority to engage in exchange to
satisfy that need.
Markets can be physical (like farmers’ markets) or
digital (like e-commerce platforms) or hybrid
(combination of physical and digital).
Markets are defined by the common needs they serve
—the smartphone market, the health food market, or
the entertainment market.
Understanding your market means knowing who
needs what you offer and how to reach them
effectively.
Who Is a Marketer?
A marketer is anyone seeking a resource from others
by offering something of value in return. This could
be a company selling products, a nonprofit seeking
donations, or even a job seeker marketing their skills.
Effective marketers understand that success comes
from working with markets rather than at them—
creating genuine value and building relationships
that actualize mutually beneficial exchanges.
PIE
\ |
What Is a Market?
A market consists of all potential customers who
share a particular need or want and have the ability,
willingness, and authority to engage in exchange to
satisfy that need.
Markets can be physical (like farmers’ markets) or
digital (like e-commerce platforms) or hybrid
(combination of physical and digital).
Markets are defined by the common needs they serve
—the smartphone market, the health food market, or
the entertainment market.
Understanding your market means knowing who
needs what you offer and how to reach them
effectively.
Who Is a Marketer?
A marketer is anyone seeking a resource from others
by offering something of value in return. This could
be a company selling products, a nonprofit seeking
donations, or even a job seeker marketing their skills.
Effective marketers understand that success comes
from working with markets rather than at them—
creating genuine value and building relationships
that actualize mutually beneficial exchanges.
PIE
\ |
The Marketing Mix: The 4 Ps
The marketing mix represents the set of tactical tools that marketers blend to produce the desired response in their
target market. These four fundamental elements work together to create compelling value propositions.
Product Price
The tangible or intangible offering that satisfies What customers pay and what they're willing to pay
customer needs-encompassing quality, features, —directly influencing perceived value, positioning,
design, labeling, warranties, branding, and and profitability. Pricing strategy communicates
packaging. Your product must solve real problems or quality and shapes market perception.
fulfill genuine desires.
Place Promotion
Distribution channels and locations where products Communication activities that inform, persuade, and
are available—ensuring the right product reaches the remind customers about products—including
right customer at the right time. Modern place advertising, sales promotion, public relations, and
strategy includes both physical and digital digital marketing.
touchpoints.
The marketing mix represents the set of tactical tools that marketers blend to produce the desired response in their
target market. These four fundamental elements work together to create compelling value propositions.
Product Price
The tangible or intangible offering that satisfies What customers pay and what they're willing to pay
customer needs-encompassing quality, features, —directly influencing perceived value, positioning,
design, labeling, warranties, branding, and and profitability. Pricing strategy communicates
packaging. Your product must solve real problems or quality and shapes market perception.
fulfill genuine desires.
Place Promotion
Distribution channels and locations where products Communication activities that inform, persuade, and
are available—ensuring the right product reaches the remind customers about products—including
right customer at the right time. Modern place advertising, sales promotion, public relations, and
strategy includes both physical and digital digital marketing.
touchpoints.
Beyond the 4 Ps: The Extended Marketing Mix
As marketing evolved, 3Pswere added to capture the full complexity of modern marketing whi
s. The extended mix adds critical dimensio
ilor comprehensive marketing strategies that address every customer touchpoint.
experienc
businesses
is on services and
h empha
s that differentiate winners from followers. These additional elements help
A ___@—___ ____@___.
People
Everyone who comes into contact with
It is important to hire, train, and
motivate employees to create positive
customer experiences and strengthen
brand perception by consistently
delivering high-quality
Examples:
Frontline staff, salespeople, customer
service representatives, managers who
interact with customers, partners and
stakeholders, people managing the
company’s website, social media, live
chat agent etc.
service.
omers_both directly and indirectly.
Process
Currently, process is used in both
product and service industries to deliver
ent, high-quality customer
experiences. Focusing on efficiency,
effective communication, and customer-
centered design helps streamline
operations and ultimately delivers
greater value, satisfaction, and customer
loyalty.
con:
Examples:
Website experience, ordering and
payment systems, post-purchase
communication, delivery procedures,
support services etc.
Physical Evidence
The tangible elements that help
customers to evaluate the credibility and
reliability of a product or service before
buying. It helps to reinforce th
experience after purchase.
Examples:
The appearance, cleanliness, and design
of stores. Logos, colors, and product
packaging, brochures, business cards,
websites, staff uniforms, name badges,
and behavior, customer reviews and
testimonials
As marketing evolved, 3Pswere added to capture the full complexity of modern marketing whi
s. The extended mix adds critical dimensio
ilor comprehensive marketing strategies that address every customer touchpoint.
experienc
businesses
is on services and
h empha
s that differentiate winners from followers. These additional elements help
A ___@—___ ____@___.
People
Everyone who comes into contact with
It is important to hire, train, and
motivate employees to create positive
customer experiences and strengthen
brand perception by consistently
delivering high-quality
Examples:
Frontline staff, salespeople, customer
service representatives, managers who
interact with customers, partners and
stakeholders, people managing the
company’s website, social media, live
chat agent etc.
service.
omers_both directly and indirectly.
Process
Currently, process is used in both
product and service industries to deliver
ent, high-quality customer
experiences. Focusing on efficiency,
effective communication, and customer-
centered design helps streamline
operations and ultimately delivers
greater value, satisfaction, and customer
loyalty.
con:
Examples:
Website experience, ordering and
payment systems, post-purchase
communication, delivery procedures,
support services etc.
Physical Evidence
The tangible elements that help
customers to evaluate the credibility and
reliability of a product or service before
buying. It helps to reinforce th
experience after purchase.
Examples:
The appearance, cleanliness, and design
of stores. Logos, colors, and product
packaging, brochures, business cards,
websites, staff uniforms, name badges,
and behavior, customer reviews and
testimonials
Product
* Quality
+ Image
Branding
a Features
Variants
“Mix
e Support
* Customer
service
"Use
occasion
+ Availabilty
+ Warranties
Promotion
® Marketing
communications
© Personal
promotion
* Sales
promotion
PR
« Branding
a Direct
marketing
Price
e Positioning
o List
* Discounts
* Credit
+ Payment
methods
Free or
value-
added
elements
Place
«Trade
channels
* Sales
support
+ Channel
number
+ Segmented
channels
People
e Individuals
on marketing
activities
e Individuals
on customer
contact
+ Recruitment
* Culture/
image
* Training
and skills
» Remuneration
Process
* Customer
focus
* Business-led
« IT-supported
« Design
features
« Research
and
development
Physical evidence
« Sales/staff
contact
experience
of brand
e Product
packaging
+ Online
experience
* Quality
+ Image
Branding
a Features
Variants
“Mix
e Support
* Customer
service
"Use
occasion
+ Availabilty
+ Warranties
Promotion
® Marketing
communications
© Personal
promotion
* Sales
promotion
PR
« Branding
a Direct
marketing
Price
e Positioning
o List
* Discounts
* Credit
+ Payment
methods
Free or
value-
added
elements
Place
«Trade
channels
* Sales
support
+ Channel
number
+ Segmented
channels
People
e Individuals
on marketing
activities
e Individuals
on customer
contact
+ Recruitment
* Culture/
image
* Training
and skills
» Remuneration
Process
* Customer
focus
* Business-led
« IT-supported
« Design
features
« Research
and
development
Physical evidence
« Sales/staff
contact
experience
of brand
e Product
packaging
+ Online
experience
Marketing Concepts Through History
s evolved dramatically over the pa
Marketing philosophy ha
st century, reflecting changing market conditions, consumer
sophistication, and societal values. Understanding this evolution helps us appreciate modern customer-centric approaches.
Production Concept
Era: Early 1900s — Consumers favor available, affordable
products. Focus on production efficiency and widespread
distribution. "A good product will sell itself." Price was the
only factor under consideration.
Selling Concept
Era: 19308-1950s — Consumers won't buy enough without
aggressive selling and promotion. Focus on large-scale
selling and advertising to overcome buyer resistance.
Societal Marketing Concept
Era: 1990s-Present — Balance company profits, customer
satisfaction, and societal well-being, Considers long-term
impacts and sustainable practices.
il
Product Concept
Era: 19205-19308 — Consumers favor products with superior
quality, performance, and innovation. Companies focus on
continuous product improvement. Risk: Marketing myopia.
Marketing Concept
Era: 1950s-1ggos — Success comes from understanding and
satisfying customer needs better than competitors.
Customer focus becomes central to strategy.
s evolved dramatically over the pa
Marketing philosophy ha
st century, reflecting changing market conditions, consumer
sophistication, and societal values. Understanding this evolution helps us appreciate modern customer-centric approaches.
Production Concept
Era: Early 1900s — Consumers favor available, affordable
products. Focus on production efficiency and widespread
distribution. "A good product will sell itself." Price was the
only factor under consideration.
Selling Concept
Era: 19308-1950s — Consumers won't buy enough without
aggressive selling and promotion. Focus on large-scale
selling and advertising to overcome buyer resistance.
Societal Marketing Concept
Era: 1990s-Present — Balance company profits, customer
satisfaction, and societal well-being, Considers long-term
impacts and sustainable practices.
il
Product Concept
Era: 19205-19308 — Consumers favor products with superior
quality, performance, and innovation. Companies focus on
continuous product improvement. Risk: Marketing myopia.
Marketing Concept
Era: 1950s-1ggos — Success comes from understanding and
satisfying customer needs better than competitors.
Customer focus becomes central to strategy.
Why Marketing Matters Today
Creating Customer Value
Understanding needs and delivering
superior solutions that customers
genuinely want and need
In today's hyper-competitive, digitally connected marketplace, marketing has never been more
. It's the engine that drives business growth, builds brand equity, and creates sustainable
competitive advantage.
Marketing creates value by deeply understanding customer needs and delivering solutions that
exceed expectations, It transforms transactions into relationships and customers into
advocates.
Mastering core marketing concepts empowers businesses to thrive in
competitive markets.
Facilitating strategic exchanges and Differentiating your brand and creating
building relationships that generate loyal customer bases that resist
revenue and market share competitive pressures
Creating Customer Value
Understanding needs and delivering
superior solutions that customers
genuinely want and need
In today's hyper-competitive, digitally connected marketplace, marketing has never been more
. It's the engine that drives business growth, builds brand equity, and creates sustainable
competitive advantage.
Marketing creates value by deeply understanding customer needs and delivering solutions that
exceed expectations, It transforms transactions into relationships and customers into
advocates.
Mastering core marketing concepts empowers businesses to thrive in
competitive markets.
Facilitating strategic exchanges and Differentiating your brand and creating
building relationships that generate loyal customer bases that resist
revenue and market share competitive pressures
Categories
MarketingDownload
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