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In marketing, the whole product concept is the third iteration of a model originally developed by Philip Kotler, a professor at the Kellogg School of Management at Northwestern University. In his book entitled “Marketing Management” Kotler drew attention to the fact that consumers purchase more than the core product itself. And ...
The concept of a Core Product originates from Philip Kotler, in his 1967 book – Marketing Management: Analysis, Planning and Control. [2] It forms the first level of the concept of Three Levels of a Product. Kotler suggested that products can be divided into three levels: core product, actual product and augmented product. [3]
Marketers typically begin planning with a detailed understanding of customer needs and wants. A need is something required for a healthy life (e.g. food, water, shelter, emotional bonding); A want is a desire, wish or aspiration; When needs or wants are backed by purchasing power, they have the potential to become demands.
Megamarketing is a term coined by U.S. marketing academic, Philip Kotler, [1] [2] [3] to describe the type of marketing activity required when it is necessary to manage elements of the firm's external environment (governments, the media, pressure groups, etc.) as well as the marketing variables; Kotler suggests that two more Ps must be added to the marketing mix: public relations and power.
A customer value proposition is a business or marketing statement that describes why a customer should buy a product or use a service. It is specifically targeted towards potential customers rather than other constituent groups such as employees, partners or suppliers.
Kotler introduced both the concept of social marketing (extending marketing technologies into non-business areas) and societal marketing, arguing that the marketing concept and its technologies must be tempered and ultimately revised by adopting a more explicit social orientation. [10]
He also created the concept of "demarketing" to aid in the task of reducing the level of demand. He developed the concepts of "prosumers," "atmospherics," and "societal marketing." He is regarded as "The Father of Modern Marketing" by many scholars. [3] Kotler's latest work focuses on economic justice and the shortcomings of capitalism.
The traditional marketing mix refers to four broad levels of marketing decision, namely: product, price, promotion, and place. [19] When implemented successfully, these activities should deliver a firm's products or services to target consumers in a cost efficient manner. The four core marketing activities include: product, price, place and ...