The Marketing Concept
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The Marketing Concept Implementing the Marketing Strategy
description
The Marketing Concept. Implementing the Marketing Strategy. The Marketing Concept. The Marketing Strategy. Target Market. A clear and identifiable group of people Finding Similar Characteristics Demographics - (Age, Gender, Income, Education, Careers Geographic Area - Location - PowerPoint PPT Presentation
Transcript of The Marketing Concept
The Marketing ConceptImplementing the Marketing Strategy
The Marketing Concept
The Marketing Strategy
Target Market
A clear and identifiable group of people
Finding Similar CharacteristicsDemographics - (Age, Gender, Income, Education, CareersGeographic Area - LocationPsychographics: (General personality, behaviors, life-style,
rate of use, repetition of need, benefits sought, and loyalty characteristics.)
Example of Target Market
A Marketing Mix is then developed to meets the Needs of this group
The Marketing Mix
Product
More than just the product:- Brand Name- Accessories- Packaging- Services
Marketers help businesses create new Products by using:
- Marketing Research
- Buying Behaviors
Place (Distribution)Making the product/service accessible to your customers.
Where to sell it?How to get it there?How to can I reduce costs?Channels of DistributionThe path a product takes to get from producer to consumer.
Effective Distribution1.) Difference in Quantity
Adjusts the product amount to meet customer needs.2.) Difference in Assortment
Businesses can carry a variety of items in one place.3.) Difference in Locations
Businesses can carry products made from all over the world.4.) Differences in the Time
Businesses can determine when to deliver products to consumers.
Pricing Goals1.) Maximize Profits
2.) Increase Sales
3.) Maintain Image
1.) Supply and Demand2.) Quantity Purchased3.) Customer Service4.) Special Products5.) Channel of Distribution6.) Advertising and Promotion
Pricing Influences
PromotionThe efforts of a business to communicate with customers resulting in some type of action.
Promotional Methods1.) Advertising2.) Trade Promotions (Trade Shows)3.) Consumer Promotions (Contests)4.) Personal Selling5.) Publicity6.) Sponsorships7.) Direct Marketing
Selecting Promotion MethodsBusinesses select promotional methods based on:(p.111)
1.) Who is the Target Market?How many? Where are they located? Where and
how do they receive information?
2.) What is the Message?Does everyone need the same information? Is it
simple or complex? Need Repeating?
3.) What is your Promotional Budget?What We Can Afford or Objective and Task
People People are critical in implementing the
Marketing Strategy.
Roles PlayedPersonal SellingCustomer ServiceSupport
