MARKETING Marketing (MacKenzie U 10). Marketing activities I II Identify/anticipate needs/wants of...
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Transcript of MARKETING Marketing (MacKenzie U 10). Marketing activities I II Identify/anticipate needs/wants of...
MARKETING
Marketing (MacKenzie U 10)
Marketing activities I II
• Identify/anticipateneeds/wants of target consumers (market research):– internal research
– secondary data
– focus group interviews
– quest. research
– sales staff...
• Analyze data
• Satisfy the needs better than the competition –strategic decisions about:– product (design)
– pricing
– promotion
– distribution (placement)
Marketing Process
If necessary adapt
marketing strategy
Monitor consumer reaction/salesperformance
Re-assess consumer reaction/
Sales levels
Devise/analyse marketing strategy
Selling vs. Marketing
• Focus on:
PRODUCT vs. CONSUMER – selling buying– inward looking outward looking – out-dated state-of-the-art– shorter longer time horizon– about profit now …– introverted …
● Market opportunities
Market opportunities – profitable __________ of fillling unsatisfied ________ or creating _______ ones in areas in which the company is likely to be more successful than the _____________.
Market opportunities – profitable possibilities of filling unsatisfied needs or creating new ones in areas in which the company is likely to be more successful than the competitors.
Target markets
MARKET SEGMENTATION - BABY BOOMERS, X-GENERATION, Y-GENERATION, Z-GENERATION…
- YUPPIES, GUPPIES, MILKIES, DUMPS, SWELLS, DINKS, SKIPPIES, BOBOS, FEMS, SINKIES, MINKIES, WOOPIES…
Market segmentation1. School Kids with Income and Purchasing Power
2. Double Income no Kids
3. Burnt-Out-But Opulent (people)
4. Green Upward-mobile Professionals
5. First-time Expectant Mothers
6. Single Women Expect Lots in London
7. Modest Introverted Luxury Keeper
8. Young Upwardly-mobile Profesionals
9. Downwardly-mobile Professionals
10. Sinkies/Minkies – Single/Middle Income No kids
11. Woopie - Well Off Older People
HW
• 1 d Comprehension (MK p 67)