Basics of Marketing

Ramandeep Singh
 IBPS SO Marketing Course
• Video classes for both phases
• Chapter wise notes and quizzes
• Test series

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 What is Marketing
• Marketing is about identifying and meeting human and social needs. One
of the shortest good definitions of marketing is “meeting needs
profitably.” - Philip Kotler

• Marketing is simplistically defined as ‘putting the right product in the right

place, at the right price, at the right time.
Marketing system
 Needs, Wants, and Demands
• Needs are the basic human requirements such as for air, food, water,
clothing, and shelter. Humans also have strong needs for recreation,
education, and entertainment.
• These needs become wants when they are directed to specific objects that
might satisfy the need
 Needs

Wants

Demands
 Marketing Mix
• The use of a marketing mix is an excellent way to help ensure
that ‘putting the right product in the right place,…’ will
happen.
 5 C’s of Marketing
They are used to analyze the five key areas that are involved in marketing decisions for
a company and includes :Company, Customers, Competitors, Collaborators, and
Climate.

Customer Company Competition Collaborators Climate

• Who • if your • Identify • distributors, • Political

• What they company can competitors suppliers • Macro-
need meet • SWOT economic
customer analysis of environment
needs them
• SWOT
analysis
Important Terms
 Core Competencies
• Traditionally, companies owned and controlled most of the resources that
entered their businesses— labor power, materials, machines, information,
and energy—but many today outsource less-critical resources if they can
obtain better quality or lower cost.
 Strategic Business Units
• A strategic business unit, popularly known as SBU, is a fully-functional unit
of a business that has its own vision and direction. Typically, a strategic
business unit operates as a separate unit, but it is also an important part
of the company. It reports to the headquarters about its operational
status.
 Supply Chain Management
• Supply chain management is the management of the flow of goods and
services and includes all processes that transform raw materials into final
products.
 IBPS SO Marketing Course
• Video classes for both phases
• Chapter wise notes and quizzes
• Test series

Join the course on store.bankexamstoday.com or

BankExamsToday Android application

Whatsapp - 9067201000