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Marketing Concept Ref - B1 R1 - Coggle Diagram
Marketing Concept
Ref - B1 R1
Definition
Offering
Activities to make exchange
Value
Aspects
Brands
Account
Management
Sales
Functions
Monitor & Analyse
Trends
Threats
Opportunities
Compatition
Objectives & strategies
Misions
Visions
Values
Targeting
Brand Management
Strong reputation
Build customer relationships
Result
Guarantee future income
Ward off competition
Good will
Enhance value
Process
1: Organisations mision, vision and values
2: Analysis of the market
3:Stratagy Selection
4: Formulation and offering
5:Implimentation, monitoring and evaluation
Mission Statements
6 Steps of Success
encapsulate the organisation’s key skills
signal opportunities and threats
be based on fulfilling customers’ needs and satisfaction rather than on the products ’characteristics
be achievable
be specific enough to guide staff’s behaviour
be adaptable.
Take account of
Environmental Factors
Threats
Oppertunities
Resources
Heritage
Leaders
Preferences
Expectations
Values
Destinctive competences
Market Changes
4 Main Market Changes
change prompted from the development of new technology
change that redefines a market owing tochanges in a productor incompetitors’ product market strategie
change resulting from new needs in a market place
change in a channel
Reactions to Market Changes
transfer focus to market segments with a better fit between requirements and the organisation’s capabilities
scale back future investment in the affected market place and extract whatever short-term profitis available
try to gather the necessary resources to address the gap between market requirements and the organisation’scapability to meet them
exit the affected marketplace