MARKETING CH-1 (PART - 4) ( PHILIP KOTLER 15TH EDITION) | HPSC PGT COMMERCE 2023, IBPS SO , NET 2023

Summary

Welcome to Disha Classes, where we offer comprehensive video lessons on NET, Commerce, and PGT Commerce subjects, chapter-wise and topic-wise. Our marketing lessons are based on Philip Kotler's renowned book, essential for high-level exams. Today, we discuss the core marketing concepts, including impression and engagement, customer value, and the marketing environment. We explore how customers perceive information through different media, the active participation of consumers, and how value is created through quality, service, and price. Additionally, we cover the supply chain, competition, and various marketing environments. Join us for more insights and share our videos to help others prepare effectively.

Takeaways

• 📚 Disha Classes focuses on NET, Commerce, and PGT Commerce subjects with chapter-wise and topic-wise video lessons.
• 🧠 The course uses Philip Kotler's book for marketing to prepare for high-level exam questions.
• 💡 The current lesson covers core marketing concepts, specifically impressions and engagement.
• 📺 Impressions refer to how consumers feel when they receive information through media channels.
• 🖥️ Engagement is the active participation of consumers, such as likes and comments on social media.
• 💸 Customer value is created through a combination of tangible and intangible benefits, including quality, service, and price.
• 🔗 The supply chain concept involves the entire process from raw material procurement to the delivery of the finished product to the consumer.
• ⚔️ Competition includes both current rivals and potential future competitors in the market.
• 🌍 Marketing environment is divided into task environment (actors involved in production, distribution, and promotion) and broad environment (demographic, economic, socio-cultural, natural, technological, and political-legal factors).
• 🎯 Customer satisfaction is the judgment of a product's performance in relation to customer expectations.

Q & A

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

Disha Classes covers all subjects related to NET, Commerce, and PGT Commerce exams, offering video lectures chapter-wise and topic-wise.

Which book is recommended by Disha Classes for studying marketing concepts?

Disha Classes recommends using Philip Kotler's book for studying marketing concepts as it covers high-level questions that appear in exams.

What are 'Impressions' and 'Engagement' in the context of marketing?

In marketing, 'Impressions' refer to the impact of communication from media on a customer, while 'Engagement' refers to the active participation of consumers, such as liking a Facebook page or commenting on YouTube videos.

What constitutes 'Customer Value' in marketing?

Customer Value in marketing is composed of tangible and intangible benefits provided to the customer, which includes quality, service, and price.

How does supply chain management impact marketing?

Supply chain management impacts marketing by ensuring that products move efficiently from raw materials to finished goods and finally to the consumer, affecting the product's availability and cost.

What is the difference between actual and potential competition?

Actual competition refers to existing rival firms, while potential competition includes firms that may enter the market in the future.

What are the key components of the marketing environment?

The marketing environment includes the task environment (actors involved in producing, distributing, and promoting) and the broad environment (demographic, economic, socio-cultural, natural, technological, and political-legal factors).

How does the economic environment affect marketing?

The economic environment affects marketing by influencing consumer purchasing power and spending patterns, which are determined by factors like GDP rate, interest rates, and banking conditions.

Why is Philip Kotler's book preferred for high-level exam preparation?

Philip Kotler's book is preferred because it provides in-depth coverage of advanced marketing concepts and is known for its relevance to high-level questions in exams.

What role does consumer satisfaction play in marketing?

Consumer satisfaction plays a crucial role in marketing as it reflects the consumer's judgment of a product's performance compared to their expectations, influencing their likelihood of repeat purchase and brand loyalty.