points discused in the first lecture,28th sept

As I have seen, no body blogged about subject been discussed in the first lecture...
let me just go through the points of the first lecture which would be easy to relate..

- CCD-creating communicating and delivering the value.

VALUE is the utility,worth and attribute of an object.
the object must be useful in satisfying human wants and it must be in limited supply.
-value is related to benefit and cost though there is no specific definition to it..because it is variable.

-PRODUCTION CONCEPT-

-improve production and distribution


-also known as manufacturing concept where the manufacturing is most important field to concern.

Production Concept is a concept where goods are produced without taking into consideration the choices or tastes of your customers

PRODUCT CONCEPT-
concerned with the attributes of the product.

The difference lies in what is being produced. A product concept would be an idea for an item or product. A production concept would be the concept conceived for creating the product.

SELLING CONCEPT-
The selling concept concerns how the product is going to reach the customer.

The first decision regarding this is that of the distribution channel that is going to be used. The company can either do direct selling or sell the product through retailers, wholesalers or specialized sellers.
Whichever distribution channel is used depends on the kind of product and the target market. It is also determined how the product is going to reach the distribution outlet and how much the transportation is going to cost.

The sales territories are also determined under this concept. Organizations sometimes have separate managers for each sales territory to handle the transportation and sales outlets of that particular area.

MARKETING CONCEPT-
The marketing concept relies upon marketing research to define market segments, their size, and their needs. To satisfy those needs, the marketing team makes decisions about the controllable parameters of the marketing mix.

HOLISTIC MARKETING CONCEPT-

to be discussed in the next lecture...

thank you.