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Marketing (Strategy
STP (Positioning
Central idea in marketing (Claim…
Marketing
Strategy
STP
Segmenting
- Demographic.
- Geographic
- Behavioural
- Psych/thinking/attitudes/values
- What benefits from the ladder are delivered.
= Power!!
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When we segment based on attitudes, we're looking for a benefit that meets three criteria: 1) our product actually delivers the benefit better than the competition; 2) customers perceive that our product delivers better; and 3) the benefit is rated highest in importance based on our customer analysis. If you find a benefit that meets these criteria, you select that as your segmentation variable.
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Measuring
- KPI = QuANT, MEASURE.
- 4p,
Basics
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- Market research. Pre and post
- Design. Make the product ;-p
- Manufacture, customer support. All input
- External: Ad agency, Consultants.
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Key Items
- Strategy: Defines customers you're going after
- Plan: Specific steps
- Plan Should be written. (SWOT, Strategy, Tactical program, Finance/budget, implement/schedule
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B2B vs B2C. Compare benefits when buying prod and svc
Benefits: Functional, economic, emotional
C: for selves: more emotional
B: buyer for co = less logical
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Analyzing Business
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Key Areas
- Focus on your core competencies. What you do well. Individual prod, or core core prod (slim itmes vs slim wallet.)
- Market on one prod or family.
- Competition: Know which to focus on or avoid. More than one type. Dir, Indir, Substitute. Use a matrix. Comp vs items/values. Key factors in industry.
- Products: Feature benefit ladder.
- Customers Analysis: Broad or specific. Needs to be solid. What /who is a C. What's important to them. Measure your prod vs competition for C. Buying factor matrix.
Buying Process: Marketing involved in all steps.
- Need recognition (internal, external stim) V important = sale
- Info Search. Suseptible to marketing.
- Comparison. You vs competition
- Purchasing: quick vs long (finance, trg, etc)
- Post purchase behavour: How they felt. Reviews social media. Remorse. (Marketing counters. Follow up is key.)
Market
- C Types: Only from u, C+U, Only C, Not at all.
- Determine # by C type.
