Oromia State University
Name:- Rehima Bakude Dosho
Id No :-0133
Individual Assegment
Advanced marketing management
Chapter one
Introduction to Marketing
Market: is defined as a group of actual and potential customers with needs to
satisfy, money to spend, and willingness to spend it.
Needs:
Necessity for survival and well-being. It includes essential items like food, water,
shelter, and safety..
Human have many complex needs:
Physical needs for food, clothing, warmth, and safety
Social needs or belonging and affection
Individual needs for knowledge and self – expression
It is a specific desire or preference for a particular product or service that can
satisfy a need.
Want are the form taken by human needs as they are shaped by culture and
individual personality.
People have almost unlimited wants but limited resources.
They want to choose products that provide the most value and satisfaction for their
money.
Value = Benefits/Costs
Benefits = Functional Benefits + Emotional benefits
Costs = Monetary costs + Time + Energy + Psychic costs (cost incurred due to
emotionAggressive selling [Increasing selling direct/straight the
Chapter 2
Marketing Environment
The marketing environment consists of actors and forces outside the organization that
affect management’s ability to build and maintain relationships with target
customers.
Suppliers:
Provide resources needed to produce goods and services.
Important link in the “value delivery system.”
Most marketers treat suppliers like partners.
Marketing intelligence and research used to collect information about the environment
Marketing Intermediaries:
Help the company to promote, sell, and distribute its goods to final buyers
Resellers
Physical distribution firms
Marketing services agencies
Financial intermediaries
Customers:
Five types of markets that purchase a company’s goods and
services
Suspects: who aren’t even aware yet how much they
need your product or service.
Prospects: prospects are known and by this point are
typically either in contact with a sales representative of
the company or in some other way have reached out to
learn more about your brand and products.
purchasing power and spending patterns
Income Distribution
Upper class
Middle class
Working class
Chapter - 3
Analyzing Consumer Markets and Buyer Behavior
A consumer's buying behavior is influenced by cultural, social, and personal factors.
Cultural Factors
Culture is the fundamental determinant of a person's wants and behavior.
Subcultures: Each culture consists of smaller subcultures that provide more
specific identification and socialization for their members. Subcultures
include nationalities, religions, racial groups, and geographic regions
Social class: relatively homogeneous and enduring division in a society,
hierarchically ordered and with members who share similar values, interests,
and behavior.
Evaluation of Alternatives
Potential Attributes of interest
Brand beliefs
Brand image
Business market: is where businesses purchase goods and
services from other businesses to use in their own operations,
production, resale.
Business market: is where businesses purchase goods and
services from other businesses to use in their own operations,
production, or resale.
This market involves transactions between organizations
rather than individual consumers.
Derived demand: demand for a commodity, service, which is a
consequence of demand for something else.