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4.2 MARKETING PLANNING (Marketing Mix (product, price, promotion, place,…
4.2 MARKETING PLANNING
Marketing Mix
product
price
promotion
place
people
processes
physical evidences
Market Segmentation
subgroup of consumers with similar interest
process of dividing consumers into a smaller groups
demographic segmentation
age
gender
religion
family characteristics
ethnic grouping
geographic segmentation
regions in country
climatic conditions
physiography segmentation
social economic status
values-moral and beliefs
Targetting
mass marketing
segmented marketing
niche marketing
Consumer profiles
characteristics of consumers of particular products in diff market
spending patterns
Positioning
how consumers define products to another
position / perception map
know threats
find opportunities
simple and quick
target specific market segment
Unique Selling Point (USP)
product's feature that differentiate with others
help a firm to establish a competitive advantage
help customers find smthg special