Chapter 3 - Introduction to Marketing

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Chapter 3 - Introduction to Marketing

Ways of presenting data?

What are "closed-ended" and "open-ended" questions?

Types of survey methods?

Understand Customers' Needs and Wants

Steps of conducting market survey? Describe the steps.

What is a market survey?

Know your customers

Types of tourists?

Identify the potential customer groups?

What is Marketing?

Applying the marketing mix process?

Applying the 4Ps of marketing

Satisfy customers better than competitors

How can the business be different from or better than its competitors?

What product, price, place and promotion will attract the customers?

Know your customers process?

Benefits sought

Income

Gender

Geographical location

Occupation

Age

Lifestyle

Social group

Who do they socialise with?

What activities do they engage in? What are their interests and habits?

Wat age group do they belong to?

What do they work as?

Where do they live or work?

Are they male or female?

How much do they earn per month?

What do they want from the product?

Example: Businesses in travel and tourism may group tourists by benefits sought like Leisure Tourists, Business Tourists, Medical Tourists, Stopover Tourists, Special Interest Tourists and Mature Tourists

Name the 4Ps?

Product

Price

Place

Promotion

- Identify the needs and wants of target customers - satisfy customers in ways that are better than competitors

Market survey is a way for businesses to gather information about their customers preferences and buying habits in order to make decisions on the marketing mix

1. Decide on the objectives of the market survey

2. Choose a survey method

3. Design the questionnaire

4. Conduct the survey

5. Analyse the data

Businesses need to set a deadline for completing their surveys. This provides a target for businesses to work towards and to plan the number of respondents to approach each day in order to meet the deadline

A well-designed questionnaire encourages respondents to provide relevant information that will be useful for decision-making.

To find out more abut its target market, a business can conduct a survey by getting customers to fill out a questionnaire through several different methods.

Personal survey

Telephone survey

Postal survey

Online survey

This method involves sending a questionnaires to respondents either via email or through websites, blogs and social networking sites.

This method involves mailing questionnaires to potential respondents. It may be accompanied by pictures and/or product samples.

This method may involve an interviewer or it may be fully automated. Telephone surveys are a popular choice nowadays as many people own mobile phones.

This method involves face-to-face interaction with respondents. It can take place at respondents home or at public places such as streets and shopping centres.

Businesses must have a clear objectives at the start of the survey. Generally, a business wants to know more about its target customers and how they fell towards the marketing mix of the business and its competitors.