Core Concepts Of Marketing | Principles Of Marketing

Marketing is a common and executive course whereby persons and groups gain what they must desire during create and exchange goods and assessment by way of others.

1) Need, wants and demands:

Needs: Person needs are states of felt scarcity. Human needs are many ways.

1. Social needs, 
2. physical needs, 
3. personal needs.

Wants: Wants are the type being needs attainas formed by society and being role. Wants are the form human needs take as shaped by culture and individual personality. Bangladeshi people eat the like food, rice, fish, vegetable, ladies finger etc. But America people choose then fast-food, Thai soup, sandwich and more items.

Demands: Demands are person wants that are backed by selling rule.There must be three conditions for any deficit to be demand -

1. Must have the desire to fill the gap
2. Must have the necessary money
3. Must have the desire to spend money

2) Target markets, positioning and segmentation:

Target Market: Target market is the piece of the skilled on hand  marketplace the grouping decides to track.

Positioning: Positioning is the take action of deceitful the company’s donation and icon to take up a typical place in the intelligence of the target market.

Market Segmentation: Market segmentation is separating a marketplace hooked on slighter groups of buyers by way of separate requirements, personality or manners who may oblige part goods or marketing mixes.

3) Marketing offers and brands: 

Marketing offer is some grouping of goods, services, in order, or experiences offered to a market to induce a need or want.


Products: A product is everything that is able to be accessible to a market to please a desire or require.

Experiences: Experience is facts or ability which is obtained commencing responsibility, seeing, or felling effects.

Services: Service is any perform or show to facilitate one party can offer to another that is basically insubstantial and does not result in the possession of everything.

Brands: Brand is a person's name, idiom, mark, figure, or drawing, or a recipe of them, planned to cover the commodities or services of one supplier or set of sellers and to make a distinction them from those of competitor.

4) Value & Satisfaction:

Value: Customer value is the difference between the values the customer gains from owing and using a product and the costs of obtaining the product.


            Benefits     Functional Benefits + Emotional Benefits
Value = ---------- =  ------------------------------------------------------------------------------------
             Costs         Monetary Costs + Time Costs + Energy Costs + Psychic Costs



Satisfaction: Satisfaction is a individual’s feelings of wish or displeasure resulting from linking a creation’s supposed act in qualified to his or her confidences.

5) Exchange, transactions and relationships:

Exchange: Exchange is the method of finding a wanted produce from someone by contribution approximately in yield.Exchange is the act of obtaining a desired object from someone by offering something in return.


Transactions: A transaction entails of an occupation of values among two get-togethers.


Relationship Marketing: Relationship marketing is the method of making, keeping and pretty robust, value-laden associations with clients and additional sponsors.

6) Marketing Channels: 

Marketing channels are groups of inter-reliant societies complicated in the development of building a product or facility existing for use or intake.

1. Statement Channels
2. Delivery Channels
3. Package Channels

7) Supply Chain: 

The supply chain defines a longer network extending from raw things to machineries to final products that are supported to final consumers.

8) Competition: 

Competition contains the entire real and possible challenging donation and alternates that a customer might deliberate.

9) Marketing Environment:

 Marketing environment is the create commission environment and comprehensive environment.

10) Marketing Planning : 

Marketing planning includes conclusive on marketing policies that will help the firm attain its global planned ideas.