MARKETING CH - 1( PART 2) DEFINING MARKETING FOR THE NEW REALITIES || IBPS SO , NET COMMERCE, HTET

Deesha Classes

30 Dec 202115:36

Summary

TLDRThe video script is an educational introduction to marketing concepts, tailored for students preparing for NET Commerce and Strategic Management exams. It discusses the basics of marketing, the types of markets, and the structure of the five basic markets, including Resource Market, Manufacturer Market, Intermediate Market, Consumer Market, and Government Market. The script also explains the modern exchange process and the interdependence of these markets in the economy. Additionally, it touches on marketing concepts like the marketing system, industry, and the differentiation between needs, wants, and demands, aiming to simplify complex theories for better understanding.

Takeaways

📚 The video transcript is from a marketing class, focusing on various aspects of marketing related to net commerce and straight page commerce.
🎓 The class aims to cover all related subjects with video chapters and topic-wise materials, especially for those preparing for net commerce or straight page commerce exams.
🔍 The instructor has extensively searched for and utilized Philip Kotler's content, explaining it in a way that is easier to understand for students who find it difficult.
📈 The class discusses the basic questions of marketing, the role of marketing in net commerce, and how to apply marketing strategies effectively.
🛒 The script touches on the concept of a market, explaining the traditional definition and how it has evolved to include not just physical places but also online spaces.
🏢 The five basic types of markets discussed are resource markets, manufacturer markets, intermediary markets, consumer markets, and government markets, each with its own role and function.
🔗 The script explains the structure and flow of these markets, how they are interconnected, and the exchange processes that occur between them.
💡 Marketing concepts are introduced, including the marketing system, which involves industry groups communicating, delivering goods and services, and transferring money and information.
🛍️ The difference between needs, wants, and demands is explored, highlighting the transition from basic human necessities to specific product desires based on availability and consumer choice.
🌐 The script also covers different types of customer markets, including consumer markets, business markets, global markets, and non-profit markets, each with unique characteristics and behaviors.
📘 The importance of understanding Philip Kotler's principles is emphasized for those studying marketing, with the channel offering a subscription for subject-wise and chapter-wise content.

Q & A

What is the purpose of the 'Disha Class' mentioned in the transcript?
-The purpose of 'Disha Class' is to provide video chapters and topic-wise materials related to various subjects of Net Commerce and Strategy Planning Commerce, aiming to cover all related subjects comprehensively.
What does the speaker mention about the marketing chapter in the context of NET Commerce or Strategy Planning Commerce?
-The speaker mentions that the marketing chapter is the first one in the course and it covers the basic questions that arise in NET Commerce or Strategy Planning Commerce, contributing significantly to the understanding of the subject at the exam level.
Why does the speaker mention Philip Kotler in the script?
-The speaker mentions Philip Kotler because he is a renowned author in the field of marketing. The speaker has searched extensively on YouTube for chapter-wise and topic-wise explanations of Kotler's work to help students who find it difficult to understand Kotler's concepts.
What are the five topics discussed in Philip Kotler's Chapter One as mentioned in the transcript?
-The transcript does not provide specific details about the five topics discussed in Philip Kotler's Chapter One. It only mentions that five topics have already been discussed in a serialized manner.
What is the traditional definition of 'market' as discussed in the script?
-The traditional definition of 'market' discussed in the script refers to a physical place where goods and services are exchanged for money. It includes aspects like physical presence, bargaining for prices, and the sale of goods and services.
What are the five basic markets mentioned in the script, and how do they interrelate?
-The five basic markets mentioned are the Resource Market, Manufacturer Market, Intermediate Market, Consumer Market, and Government Market. They interrelate through a supply chain where resources are converted into manufactured goods, distributed, and finally consumed, with the government playing a regulatory role.
How does the script describe the modern structure of the five basic markets?
-The script describes the modern structure as an interconnected model where markets are not independent but depend on each other. It highlights the continuous exchange process among the markets, emphasizing the dynamic nature of the economy.
What are the four types of customer markets mentioned in the script?
-The four types of customer markets mentioned are Consumer Market, Business Market, Global Market, and Non-Profit/Government Market. Each type has distinct characteristics and operates differently in terms of who the customers are and how transactions occur.
What is the concept of 'Marketing System' as discussed in the script?
-The 'Marketing System' concept discussed in the script refers to the process where an industry communicates its offerings, benefits, and how it can help the consumers. It involves delivering goods and services in exchange for money and information about consumer needs and wants.
What are the differences between 'Needs,' 'Wants,' and 'Demand' as per the script?
-According to the script, 'Needs' are the basic requirements necessary for an individual's well-being. 'Wants' are specific desires for particular products or services that satisfy those needs. 'Demand' arises when a consumer has a want for a specific product, the ability to purchase it, and is ready to do so.

Outlines

00:00

📚 Introduction to Marketing Concepts

The script introduces the topic of marketing, emphasizing the importance of understanding the basics of marketing for net commerce and straight page tie commerce. It mentions Philip Kotler as a key resource for learning marketing concepts, and the intention to make his teachings accessible and understandable to a wider audience. The speaker discusses the structure of the market, including the five basic types: resource market, manufacturer market, intermediate market, consumer market, and government market, and their interdependencies.

05:01

🌐 Exploring the Different Types of Markets

This paragraph delves into the different types of markets, starting with the consumer market, which includes direct consumers and businesses that purchase goods and services. It then moves on to the business market, which involves transactions between businesses, and the global market, where cross-country transactions occur. The script also touches on the non-profit market, including organizations like charities. The discussion highlights the interconnected nature of these markets and the flow of goods, services, and finances within them.

10:03

🛍️ Understanding the Marketing System and Demand

The script explains the marketing system as a process involving communication, delivery of goods and services, and transfer of money and information. It distinguishes between 'needs', 'wants', and 'demand', clarifying that 'needs' are basic requirements, 'wants' are more specific desires for particular products, and 'demand' is the actionable intention to purchase a specific product when the consumer has the means to do so. The paragraph also introduces the concept of market offerings and the importance of matching consumer needs with the right products and services.

15:06

📘 Conclusion and Call to Action

The final paragraph wraps up the discussion by encouraging viewers to subscribe to the 'Disha Channel' for more subject-wise and chapter-wise content on Philip Kotler's topics. It emphasizes the value of the channel in making complex marketing concepts understandable and promises to cover more marketing concepts in subsequent videos. The speaker also thanks the audience for their engagement and interest in the content.

Mindmap

Keywords

💡Net Commerce

Net Commerce, often referred to as e-commerce, is the buying and selling of goods and services, or the transmitting of funds or data, over an electronic network, primarily the internet. In the video's context, it seems to be a part of the educational content, where the instructor discusses various aspects of online commerce, including its impact on traditional marketing strategies.

💡Strategic Marketing

Strategic Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of products or services to create exchanges that satisfy individual and organizational objectives. The script mentions this as a subject area that the viewers will learn about through video chapters and topic-wise series.

💡Philip Kotler

Philip Kotler is a prominent figure in the field of marketing, known for his extensive work on marketing strategies and principles. In the transcript, the instructor mentions using Kotler's work as a basis for the educational series, aiming to make his complex ideas more accessible to students.

💡Consumer Market

A Consumer Market refers to a market where the customers are individuals or households seeking goods and services for personal use. The script discusses the importance of understanding consumer markets in the context of marketing strategies and how they have evolved with the advent of e-commerce.

💡Business Market

A Business Market, also known as a B2B market, involves transactions between businesses rather than between businesses and consumers. The video script touches upon this concept, indicating that businesses also act as consumers when purchasing goods and services for further production or business operations.

💡Global Market

The Global Market refers to the worldwide arena where goods and services are exchanged across international borders. The script mentions the global market in the context of expanding business reach beyond local markets, which is a significant aspect of modern marketing.

💡Non-Profit Market

A Non-Profit Market involves organizations that operate without the primary goal of making a profit, such as charities and other non-governmental organizations. The transcript includes non-profit markets as a type of customer market, emphasizing the diversity of entities involved in marketing activities.

💡Marketing Concepts

Marketing Concepts are the fundamental ideas and strategies that guide the marketing process. The script refers to various marketing concepts, such as the marketing mix and the marketing system, which are essential for understanding how marketing functions in different contexts.

💡Marketing Mix

The Marketing Mix is a set of tactics that companies use to promote their products or services. It commonly includes the 4 Ps: Product, Price, Place, and Promotion. The video script discusses this concept as a part of the educational content, indicating its importance in formulating marketing strategies.

💡Demand

Demand refers to the quantity of a product or service that consumers are willing and able to buy at various prices during a given period. The script explores the concept of demand, including its dynamics and how it is influenced by marketing activities.

💡Market Structure

Market Structure refers to the organization of a market, including the number and size distribution of competitors. The video script discusses the structure of different markets, such as the resource market, manufacturer market, and consumer market, highlighting the interconnectedness of these market segments.

💡Marketing System

A Marketing System encompasses the various components and processes involved in marketing activities, including communication, product delivery, and customer feedback. The script mentions the marketing system to describe how marketing functions within an industry and interacts with consumers.

Highlights

Welcome to the Disha class, where you will find video chapters and topic-wise materials related to net commerce and street petty commerce.

The marketing chapter has been prioritized first as it covers basic questions that arise in net commerce or net exam.

For those who struggle with Philip Kotler's concepts, a chapter-wise and topic-wise series on YouTube is recommended for better understanding.

The class discusses five topics in Philip Kotler's Chapter 1, including the definition and scope of marketing.

Marketing is not limited to goods and services; it also includes ideas, which is a concept explained in the class.

The traditional definition of a market has evolved from physical places to include online spaces where transactions occur without physical presence.

The five basic types of markets are discussed, including resource markets, manufacturing markets, intermediate markets, consumer markets, and government markets.

The structure and flow of resources between these market types are explained, highlighting the interdependence of modern economy.

Different types of customer markets are identified, such as consumer markets, business markets, global markets, and non-profit markets.

The concept of marketing is explored, emphasizing the industry's role in communicating product benefits and services to consumers.

The marketing system is defined, detailing the process from communication to delivery of goods and services, and information exchange.

The difference between 'needs', 'wants', and 'demand' is clarified, which is crucial for understanding consumer behavior in marketing.

The importance of matching marketing concepts with the appropriate topics for better learning outcomes is emphasized.

The transcript encourages subscribing to the Disha channel for subject-wise and chapter-wise materials that are well-prepared and appropriate.

The class aims to help students who find it difficult to understand Philip Kotler's complex concepts by breaking them down in an understandable manner.

The transcript concludes with an invitation to like, share, and subscribe to help others who struggle with understanding marketing concepts.