MARKETING

MARKETING

1. MARKET DEF:People or organisations with needs or wants, and with the ability and the willingness to buy.

   • MARKET SEGMENT:A subgroup of people or organizations sharing one or more characteristics that cause them to have similar product needs.
     • MARKET SEGMENTATION:process of dividing a market into meaningful, relatively similar, identifiable segments or groups
       • CRITERIA FOR SEGMENTTION
         • IDENTIFIABILITY AND MEASURABILITY: Segments must be identifiable and their size measurable (amount).
         • SUBSTANTIALITY: Segment must be large enough to warrant a special marketing mix.
         • ACCESSIBILITY:Members of targeted segments must be reachable with marketing mix.
         • RESPONSIVENESS: Unless segment responds to a marketing mix differently, no separate treatment is needed.

2. BASES FOR SEGMENTING

   • DEMOGRAPHIC (FAMILY LIFE CYCLE)
   • PSYCHOGRAPHIC
     • MOTIVES
     • LIFESTYLE
     • GEODEMOGRAPHIC
     • PERSONALITY
   • CONDUCTUAL
     • BENEFIT SOUGHT, / PRODUCTS
   • GEOGRAPHIC

3. BUSINESS SEGMENTS: GEOGRAPHIC LOCATION, TYPE OF COMPANY, SIZE AND PRODUCT USE

   • PURCHASING PROFILES
     • SATISFICERS: KEEP FAMILIAR SUPPLIERS
     • OPTIMIZERS: CONSIDER NUMEROUS SUPPLIERS

4. MARKETS

   • UNDIFFERENTIATED: NO SEGMENTATION, USE A SINGLE MATRIX MIX
   • MULTI SEGMENT: CHOOSES 2 OR MORE WELL DEFINED MARKET SEGMENTS, DISTINCT MIX FOR EACH
   • CONCENTRATED. ONE MARKET TO FOCUS

5. COSTUMER SERVICE MANAGEMENT (CRM)

   • PERSONALIZATION, TIME SAVING, LOYALTY AND TECHNOLOGY

6. POSITIONING: Developing a specific marketing mix to influence potential customers’ overall perception of a brand, product line, or organization in general.

   • PERCEPTUAL MAP: COSTUMER MIND RELATES QUALITY PRICE