Session – II: (1) Need, Want, Demand, Desire

(2) Environmental Analysis - 5 C’s

Marketing Management by A N Bhattacharya, SOIL, Gurugram
 • Recap of Need, Want, Demand,
Desire

• Recap of Maslow’s Need Hierarchy

• Six key elements of a customer-

centered Marketing Process

We will cover • Marketing Strategy formation

• Recap of the topics

The purpose of Business is to create ‘customers’

………Peter Drucker

The purpose of Business is to create customers

and ‘keep them’

………Theodore Levitt
 Unmet needs due to lack of
resources
Desire
Demands are specific based
on available resources
Demand

Want Wants are generic

Need Need is core and cannot

be created
 Need Thirst

Tap bottled Himalayan fruit

water water water water

Actual State Desired State

(Thirsty) (Not thirsty)

Means to satisfy needs

Anything Liquid Wants Generic in nature

Bisleri/Tea/Pepsi Demands Specific - Brand

 Self – Actualization
Pursue Inner Talent,
Creativity, Fulfillment

ABRAHAM MASLOW’S
HIERARCHY OF NEEDS Self - Esteem
Achievement, Mastery,
Recognition, Respect

Belongingness - Love
Friends, family, spouse, lover

Safety
Security, Shelter, Stability, freedom from fear

Physiological
Food, water, procreation, warmth
Six key elements of a customer-centered Marketing Process

Marketing
Strategy
Formation

Marketing
Planning

Programming,
Allocation &
Budgeting
Analysis &
Research
Implementation

Monitoring &
Auditing
 Six Steps of a customer-centered Marketing Process

STEP-1: Marketing strategy formation - Set the overall, long-term goals and basic approach to the
marketplace

STEP-2: Marketing planning - plans need to be reworked regularly

STEP-3: Programming, allocating, and budgeting - Set near-term objectives/detailed plans, resource
allocation

STEP-4: Implementation - Execute the programs specified in step 3.

STEP-5: Monitoring and auditing - Results vs Goals /corrective action plans, if needed

STEP-6: Analysis and research – Gathering data from inside and outside the company / Ongoing process
Marketing Strategy Formation
“blueprint by which the firm plans to
compete”
 Marketing Strategy Formation Process
STAGE-I STAGE-II STAGE-III
 Recap
• Need, Want, Demand & Desire

• Maslow’s Need Hierarchy

• Six key elements of a customer-centered Marketing Process

• Marketing Strategy formation