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

Deesha Classes

1 Jan 202215:40

Summary

TLDRWelcome 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.

Outlines

00:00

📚 Introduction to Disha Classes

Welcome to Disha Classes, where comprehensive videos on NET, Commerce, and Estate PGT Commerce subjects are provided. The focus is on chapter-wise and topic-wise preparation using Philip Kotler's book for marketing concepts. This video series aims to cover high-level exam questions, starting with core marketing concepts and moving to impressions and engagement.

05:01

📈 Understanding Customer Impressions and Engagement

The paragraph explains impressions and engagement in marketing. Impressions refer to the initial reaction of customers to a company's communication through various media channels like TV, mobile, or the internet. Engagement involves active participation, such as liking a Facebook page or commenting on a YouTube video. These actions indicate how consumers interact with and react to the information provided by a company.

10:01

💡 Exploring Customer Value and Satisfaction

This section discusses the concept of customer value, which includes tangible and intangible benefits provided to customers. Examples include cars as tangible products and after-sale services as intangible benefits. The importance of providing quality, service, and reasonable prices to satisfy customers is highlighted. The paragraph also covers the relationship between customer expectations and product performance, determining customer satisfaction levels.

15:02

🔗 Overview of the Supply Chain

The paragraph details the supply chain process, starting from raw material acquisition to the delivery of finished products to consumers. It clarifies that the supply chain encompasses the entire journey, including wholesalers and retailers. An example using the supply chain of coffee is provided to illustrate the concept. The importance of understanding the entire supply chain for effective marketing is emphasized.

📊 Competition and Marketing Environment

This section explains the concept of competition, including both actual and potential competitors. The example of Nokia in the mobile phone market is used to illustrate the idea of potential competition. The marketing environment is divided into task and broad environments. The task environment includes actors involved in production, distribution, and promotion, while the broad environment covers demographic, economic, socio-cultural, natural, technological, and political-legal factors affecting marketing.

🎯 Recap of Marketing Concepts and Call to Action

The final paragraph recaps the marketing concepts covered in the video and encourages viewers to share the video if they find it helpful. The importance of using Philip Kotler's book for a detailed understanding of marketing topics is reiterated. Viewers are invited to comment with any doubts and to share the content with others who might benefit from the lessons.

Mindmap

Keywords

💡Marketing

Marketing refers to the activities a company undertakes to promote the buying or selling of a product or service. In the video, marketing concepts are explained using Philip Kotler's book, highlighting the importance of understanding high-level marketing strategies for exams like NET and PGT Commerce.

💡Philip Kotler

Philip Kotler is a renowned marketing author whose books are used as primary study materials for advanced marketing exams. The video focuses on his book to explain complex marketing concepts and prepare students for higher-level questions in competitive exams.

💡Impression

Impression in marketing refers to the way information about a product or service is perceived by consumers through various media channels. The video discusses how impressions are formed through TV, internet, and mobile usage, impacting consumer perception.

💡Engagement

Engagement involves the active participation of consumers with a brand or product, such as liking a Facebook page or commenting on a YouTube video. The video emphasizes the significance of consumer engagement in assessing marketing effectiveness.

💡Consumer Value

Consumer value is the satisfaction a customer derives from a product or service, combining tangible and intangible benefits. The video explains how providing high-quality products, good service, and reasonable prices create value for customers.

💡Supply Chain

The supply chain encompasses the entire process from sourcing raw materials to delivering the final product to consumers. The video breaks down the supply chain, illustrating how each step from raw material acquisition to consumer delivery is interconnected.

💡Competition

Competition in marketing refers to the rivalry between companies to attract customers. The video discusses both actual competitors and potential future competitors, stressing the need to consider both when strategizing.

💡Marketing Environment

The marketing environment consists of external factors that affect a company's ability to serve its customers. The video divides this into the task environment, including production and distribution actors, and the broader environment, such as demographic and economic factors.

💡Customer Satisfaction

Customer satisfaction measures how well a product's performance meets consumer expectations. The video explains how satisfaction is judged based on the comparison between expected and actual product performance.

💡Technological Advancements

Technological advancements refer to the progress and innovation in technology that impact marketing strategies. The video highlights how technological changes affect marketing practices, particularly in backward countries with limited technological access.

Highlights

Welcome to Disha Classes, where NET, Commerce, and PGT Commerce subjects are covered chapter-wise and topic-wise.

For NET preparation, we're using Philip Kotler's book as it's essential for high-level exam questions.

Today's focus is on the concept of 'Impression and Engagement' in marketing.

Impression refers to how customers perceive information through media channels like TV, mobile, or internet.

Engagement involves the active participation of consumers, such as liking or commenting on Facebook pages.

Value in marketing is created by providing tangible and intangible benefits to customers.

Customer value is influenced by quality, service, and price. High quality and service with a reasonable price increase customer satisfaction.

Customer satisfaction is a judgment based on the performance of a product relative to customer expectations.

Supply chain covers the entire process from raw materials to the finished product reaching the consumer.

Supply chain management involves various stages, including suppliers, dealers, and final consumers.

Competition in marketing includes both actual and potential rivals in the market.

Marketing environment is divided into task environment and broad environment, impacting marketing strategies.

Task environment includes actors involved in producing, distributing, and promoting products.

Broad environment consists of demographic, economic, socio-cultural, natural, technological, and political-legal environments.

Understanding the marketing environment helps in adapting strategies to meet market conditions effectively.

If you have any doubts, you can comment, and if you like Disha Classes, please share to help others.