Categories: All - orientation - branding - implementation - segmentation

by Angela Andrews 16 years ago

414

TOPIC 3: MARKETING

Marketing involves the strategic planning and execution of various elements to achieve organizational goals and fulfill customer needs. Key components include the marketing mix, which encompasses product, price, promotion, and place.

TOPIC 3: MARKETING

TOPIC 3: MARKETING

Developing Marketing Strategies (Ch 12)

Marketing Mix
Place
Promotion
Price
Product

Intangible

Warranties

Positioning

Branding

Tangible

Packaging

Quality and style

Size, Colour, Shape

Identify the TM
Product Differentiation
Mass V. Niche
Market Segmentation

Product-related

Geographic

Demographic

  • age
  • gender
  • education
  • family size
  • family life cycle
  • occupation
  • social status
  • religion
  • ethnicity

    • Psychographic

    Market Research and Customer and Buyer Behaviour (Ch 11)

    Factors influencing consumer choice

    Marketing Plan (Ch 10)

    Monitoring and Controlling

  • Develop Financial Forecast - revenues and costs
  • Compare actual and planned results - market share + sales analysis
  • Revise the marketing strategy - change marketing mix, new product development, product deletion

    • Implementation
    Develop Marketing Strategies
    Identify the TM
    Establish Marketing Objectives
    Maximise customer service
    Expand existing markets (geographic expansion)
    Expand product range
    Increase market share
    Situational Analysis
    SWOT Analysis
    PLC
    External influences

  • Changing consumer preferences
  • Changing economic conditions
  • Changing financial conditions
  • Changing attitudes to the environment
  • Changing legal influences
  • Changing political influences
  • Technological advances

    • Nature of market

    Nature of Marketing (Ch 9)

    Marketing is the process of planning and executing the conception, pricing, promotion and distribition of ideas, goods and services to create exchanges that satisfy individual and organisational objectives.

    Orientation
    Market

    Relationship Marketing

    Customer Orientation

    Selling
    Production
    Types of Markets
    Consumer

    Niche

    Mass

    Intermediate
    Industrial
    Resource
    Role of Marketing

    Satisfy customer needs and wants

    Help business generate revenues and profits

    Ethical and Legal Aspects (Ch 13)

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