Marketing Concepts and Philosophies Lecture 2 Lecture Outline

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lec 2
Lecture 2 Risk And Return - part 1 october 15 (3), profitability and market

9- Information

  • The production, packaging, and distribution of information are major industries. Give Examples
  • Types of Entities

    10- IDEAS

    • Every market offering includes a basic idea. Products and services are platforms for delivering some idea or benefit. Social marketers are busy promoting such ideas as “Friends Don’t Let Friends Drive Drunk” and “A Mind Is a Terrible Thing to Waste.”

    Marketers and Demand

    • Marketers are skilled at stimulating demand for their products, but that’s a limited view of what they do.
    • Just as production and logistics professionals are responsible for supply management, marketers are responsible for demand management.
    • They seek to influence the level, timing, and composition of demand to meet the organization’s objectives.

    Types of Demand

    • Negative Demand
    • Nonexistent Demand
    • Latent Demand
    • Declining Demand
    • Irregular Demand
    • Full Demand
    • Overfull Demand
    • Unwholesome Demand

    Negative Demand

    • Generally, negative demand is created when customers have disliked the product but this product actually useful to them. They try to avoid this product. Customers merely don’t want it.
    • For example, if the hospitals or clinics reduce 50% on the chemotherapy, is there any customers will go for it? The answer is no one will go for it.
    • Negative demand can be a positive one by doing some things:
      • Try to create awareness rather than promotion.
      • Inform the customers about the importance of your products.

    Nonexistent Demand

    • Customers are unaware in these types of product. Or the customers know about the product but they are not interested to buy.
    • This may be happening because of culture or thinks them this merely wastage of money.
    • For example, family planning is a non-existent demand for rural people. They are unaware or uninterested in the family planning. Or they know this but not interested to use.
    • Insurance is another example. Insurance is both negative demand and non-existent demand.

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