Ch11.Definition of Marketing：2.Market Needs：Wants Demands：Needs - state of felt deprivation for basic items such as food and clothing and complex needs suchas for belonging. i.e. I am thirstyWants - form that a human need takes as shaped by culture and individual personality. i.e. I wanta Coca-Cola.Demands - human wants backed by buying power. i.e. I have money to buy a Coca-Cola.Customer Value：Customer Value - benefit that the customer gains from owning and using aproduct compared to the cost of obtaining the product.Customer Satisfaction：Customer Satisfaction - depends on the product’s perceivedperformance in delivering value relative to a buyer’s expectations. Linked to Quality and TotalQuality Management (TQM)3.Marketing Philosophies Production ConceptProduct Concept Selling ConceptMarketing ConceptSocietal Marketing ConceptMarketing Philosophies(1) Production ConceptAssumes consumers want products that are available , highly affordable and low prices .(2)Product Concept(3) Selling ConceptAssumes consumers will not buy enough product unless there is a strong sales and promotionaleffort.(4)The Marketing ConceptAssumes that achieving the organization’s goals depends on determining and satisfying consumers4.The marketing concept rests on four pillars: target marketcustomer needsintegrated marketing profitabilityA. Target MarketTo one company, it’s very important to identify and define the its target market .No company can operate successfully in every market because no product is for everybody,regardless of what the company says. Nor can the firm always do a good job within one broadmarket. Companies do best when they define their target markets and implement a tailoredmarketing program.
B. Customer NeedsA company can define its target but fail to correctly understand the customers’ needs.Understanding customer needs and wants is not always simple.Some customers have needs of which they are not fully conscious.They can’t use the corrective words to describe what they want. Maybe the customers could not know the trend of economy development. ……Five types of needStated needs( the customer want to buy inexpensive car)Real needs (the customer want to buy one car whose operating cost, not its initial price, is low)Unstated needs (the customer wants to get good service form the dealer)Delight needs (the customer would like the dealer to include a gift of a city map)Secret needs (the customer wants to be seen by friends as a savvy （理智得)consumer)C. Integrated Marketing The company adhering to the marketing concept would know that there are four parts must beintegrated into your marketing campaigns: the product and its distribution, price and promotion.