Business

The word " need " is defined as lack of the means of subsistence. In every arena of life, http://learningtogive.org/
Understanding the
Marketplace
1-6
Core Concepts
Goal : Identify thefive core marketplace concepts.

Needs, wants, and
demands
Marketing offers:
including products,
services and
experiences
Value and satisfaction
Exchange,
transactions and
relationshipsMarkets
Understanding the
Marketplace
1-7
Core Concepts
Goal : Identify the five core marketplace concepts.
Marketing offer
Combination of
products, services,
information orexperiences that
satisfy a need or
want
Offer may include
services, activities,
people, places,
information or
ideas

Needs, wants, and
demands
Marketing offers:
including products,services and
experiences
Value and satisfaction
Exchange,
transactions and
relationships
Markets
Value
Customers form
expectations
regarding value
Marketers must
deliver value toconsumers
Satisfaction
A satisfied customer
will buy again and tell
others about their
good experience
Understanding the
Marketplace
1-8
Core Concepts
Goal : Identify the five coremarketplace concepts.

The population is characterized by their ability to pay for a product (money), their power to make buying decisions (authority), their interest in making a product purchase(desire), and their accessibility to the product (access). http://www.allbusiness.com all business 1999

Desire or preference which a consumer is unable to satisfy due to lack of information about theproduct's availability, or lack of money. One of the major objectives of marketing is to either influence the potential buyer to allocate his or her available money differently (in favor of themarketer's product) or to create purchasing power through means such as deferred billing or hire purchase arrangement www.businessdictionary.com 2010

The word product qualifies a marketing concept. A...