Please enable JavaScript.

Coggle requires JavaScript to display documents.

MARKETING PLANNING (details inc (mktg obj - SMART, methods of market…

- - - - dif wants and financial recruitments
    - - dif wants n spending habits
    - - dif culture
    - - increase num of people delay marriage and divorce
    - - dif demand e.g muslim need halal food while hindus cant eat meat
    - - dif mother-tongue lang
    - - dif spending patterns from the rest of population
  - - - dif culture n social attitudes
    - - typical weather large impact to buss
  - - - prov plenty mktg opportunities for buss
    - - people's belief, morals, and principles
    - - prov many buss opportunities
    - - conscious of economic and social
    - - buying habits of dif ethnic groups
- - - - achieved through market penetration strategies that allow buss to increase sales revenue n profits
    - - strive for greates market share in industry
    - - improve corporate image n perceptions held by consumers
    - - ensure cust satisfied with price, prod, quality n level of cust serv
    - - firm presence in marketplace largely based on image n reputation, maintained n enhanced by effective mktg strategies
- - - - ability n willingness of cust to pay, > price can be
    - - the degree of competition, > price-competitive firms tend to be
    - - different with NGOs
    - - < supply of prod, > price tends to be
    - - electronics : cheaper aft a newer version released || classic cars : rise due to scarcity
    - - charge higher if prestigious n exclusive image
    - - COP, > price can be
- - - - high quality, high price
    - - low quality, app price
    - - high quality, low prices
    - - poor quality, high price
- - - - industrials prod sold to oth buss to further the prod process
    - - sold to end user
- - - - better mktg focus
      - less comp due to can charge higher prices for unique and exclusive prod
      - highly specialised in meeting wants and needs of their niche target market
    - - small which limits the num of potential cust in market
      - few opportunities to exploit EOS
      - successful and profitable niche markets attract new entrants into industry
  - - - gain from huge potential EOS by supply prod in mass markets
      - no need to modify mktg strategies for dif segments as the whole market can be targeted with single mktg campaign
      - cater for larger mass market means buss can establish bigger cust base, thereby earning more profits
    - - mass mktg not suitable for all buss
      - competition can be fierce as cust persuaded to buy firm.s prod rather than buy from rival buss
      - lack of focus. mass mktg quite wasteful as specific cust not being dfirectly targeted