Marketing Management 14th Edition - Kotler & Keller

Question	Answer
Core Marketing Concepts (8)	- Needs, wants & demands - Target markets, positioning & segmentation - Offerings & brands - Value & Satisfaction - Marketing Channels - Supply Chain - Competition - Marketing environment
Needs (5)	1. Stated Needs (the customer wants an inexpensive car) 2. Real Needs (The customer wants a car whose operating cost, not initial price, is low) 3. Unstated Needs (The customer expects good service from the dealer) 4. Delight Needs ( The customer would like the dealer to include a GPS) 5. Secret Needs (The customer wants friends to see them as a savvy consumer)
Target Markets, Positioning & Segmentation	- Marketers divide the market into segments and identify and profile distinct groups of buyers by examining demographic, psychographic and behavioural differences. - After identifying market segments the marketer must decide its target market and develop a market offering that it positions in the minds of the target buyers. Volvo develops its cars for buyers to whom safety is a major concern, positioning its vehicles as the safest a customer can buy

Resource summary

	Created by Bonnie Mooney over 9 years ago