Marketing.docx

26 views18 pages
3 Apr 2012
School
Department
Course
Underneath Marketing
1) Consumer Psychology
2) Segmentation, Targeting and Positioning
3) Products and Services
4) Market Research
5) Pricing and Promotion
6) Retailing
Marketing: planning and executing the development, pricing, promotion and distribution of
ideas, goods, services to create exchanges that satisfy both buyers’ and sellers’ objectives
Market making: Connecting buyers and sellers
•Value creation: Providing valuable products/services profitably
Two underlying factors: Information and Physical Distribution
Two basic activities
Identifying customer needs and wants
Getting the product to the customer
(not just getting customers for our best products and services; but also getting products and
services for our best customers)
Defining Competition
•Other ways in which people can solve the problem that you solve for them
The value (FB e.g.)
Targeted advertising
Database / data mining
Viral marketing
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Segmentation: The act of slicing up the total market Targeting: The act of choosing one (or
more) slice Positioning: The act of giving your product some image to people in the chosen slice
Identifying Market Segments
Search for common traits between consumers
Focus on traits that affect product need or purchase behaviour
Geographic region
Customer demographics
Customer psychographics
Behavioural variables / Product use variables
Intended use
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Position by:
User
Competition
“meaningless attributes” emotional appeal
Perception: Walmart is limited service and traditional, Holt Renfrew is fashion forward with
extensive service
Understanding consumers
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