MARKETING CH-1 (PART - 3) ( PHILIP KOTLER 15TH EDITION) || HPSC PGT COMMERCE 2023, IBPS SO EXAM 2023

Summary

Welcome to Disha Classes, where we provide chapter-wise and popular videos for NET, PGT Commerce, and more. We focus on high-level marketing concepts using Philip Kotler's book to prepare for advanced exam questions. This video continues with Chapter 1, Part 3, covering key marketing concepts like target market positioning, segmentation, and value propositions. The session explains market segmentation, targeting specific customer needs, and positioning products effectively. It also covers marketing channels, communication strategies, and the importance of branding. Watch previous parts for a complete understanding, and stay tuned for more insights into marketing concepts.

Takeaways

• 😀 Welcome to Disha Classes where you can find NET, Commerce, and PGT related subjects videos.
• 📚 For NET preparation, we are using Philip Kotler's book to cover marketing concepts in depth.
• 🧐 Chapter one of Philip Kotler's book is already available on our channel in two parts.
• 💡 Today, we will start with part 3 of chapter one, focusing on marketing concepts like needs, wants, and demands.
• 🎯 A company cannot create a product that satisfies every customer, hence market segmentation is crucial.
• 📈 After segmentation, we need to target a specific market and position our product accordingly.
• 🚗 Examples of market positioning: Volvo targets safety-conscious customers, BMW targets those seeking excitement and speed.
• 💎 Companies offer value propositions to address customer needs, like benefits that fulfill their travel requirements.
• 🏷️ Branding distinguishes a company's product from others, making it recognizable in the market.
• 📺 Companies use three types of marketing channels: communication, distribution, and service channels.
• 📰 Marketing channels include paid media (ads, sponsorships), owned media (company website, social media), and earned media (customer reviews, press mentions).
• 📢 Effective marketing involves a combination of targeting, positioning, offering value, branding, and utilizing multiple marketing channels.

Q & A

What subjects are covered in Disha Classes related to NET, Comments, and PGT Commerce?

Disha Classes offers chapter-wise and popularized videos on subjects related to NET, Comments, and PGT Commerce.

Which book is being used for the marketing section in NET preparation?

The marketing section is covered using Philip Kotler's book, rather than a regular book by any author.

Why is Philip Kotler's book chosen for marketing preparation?

Philip Kotler's book is chosen because the NET level exam questions are high-level and can be comprehensively covered by following his book.

What topics were covered in the previous parts of Chapter 1?

In the previous parts of Chapter 1, the topics of 'Needs, Wants, and Demands' and 'Marketing Concepts' were discussed.

What is the third concept discussed in Part 3 of Chapter 1?

The third concept discussed is 'Target Market, Positioning, and Segmentation'.

Why can't a company create a product that satisfies all customers?

It is impossible to create a product that satisfies all customers because each customer has different expectations, likes, dislikes, and perceptions.

What is market segmentation and why is it important?

Market segmentation involves dividing the market into sections to focus on specific customer demands. It is important because it allows companies to target their products effectively.

How can a company segment its market?

A company can segment its market based on various criteria such as age group (children, adults, senior citizens), geography, or professional life.

What is value proposition in marketing?

A value proposition is a set of benefits provided by a company to address customer needs and offer value through their products or services.

What are the types of marketing channels mentioned in the script?

The types of marketing channels mentioned are communication channels, distribution channels, and service channels.

What are the differences between paid media, owned media, and earned media?

Paid media involves paying for advertisements (e.g., TV ads, magazine ads). Owned media includes platforms the company controls (e.g., company website, social media pages). Earned media is when customers or the press voluntarily promote the company's products (e.g., word-of-mouth, positive reviews).