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4.2 MARKETING PLANNING (MARKET SEGMENTATION (ADVANTAGES (Define the target…

- - - - market research
        
        market trends
        
        competitors' actions
        
        consumers demands
      - company's SMART
      - sales forecasts
      - marketing budget
      - marketing startegies
      - marketing tactics (details)
- - - - Product
        
        adaption of an exiting product
      - Price
      - Promotion
        
        packaging
        
        convincing at targeted market
      - Place
        
        How the product is distributed to the consumer?
        
        at the right time in the right place
      - People (HL)
      - Process (HL)
      - Physical evidence (HL)
  - - - downturns
        
        products rejected by consumers
        
        failure in marketing planning
      - appropriate marketing mix:
        
        targeted at the appropriate consumers
        
        coordinated and consistent with each other
        
        realistic marketing objectives with the achievable marketing budget
- - - - Location-specific ways
    - - A house construction firm
        
        DINKY- Double income no kids yet
        
        NILK- No income lots of kids
        
        WOOF- Well-off older folk
    - - people's lifestyles
        
        activities undertaken
        
        interests
        
        opinions
      - personalities
      - values and attitudes
  - - - research & development
      - promotional cost
      - production and stock-holding costs
- - - - income levels
      - age
      - gender
      - social class
      - region