1. Needs and wants:
Need: A state of felt deprivation or feeling of being deprived of something. Want: Culturally defined object that is potential satisfie of need. Marketer’s Job: Identify needs and full them.
2. Creating a market offering : Complete offer for a product of service.
3. Customer value : greatest benefit or value for the money.
4. Exchange mechanism : Exchange of products/services for money/for something of value to them.
