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MARKETING - Coggle Diagram
MARKETING
Role of Marketing
A management process involved in identying, anticipating, and satisfying consumer requirements profitably.
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Marketing Objectives
align with VMGs, realistic, measurable, achievable, motivating
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Marketing Planning
Marketing Audit
SWOT, STEEPLE,review marketing strategies, monitoring process
Market Segmentation
Demographics-age,marital status, income, social class, education, profession
Psychographics-values,cultures,politics,
buying habits,interests
Geographic-urban/rural,multicultural,island(location)desert,tropical,seasons(climate)
Target Marketing
market segment that business wishes to sell to 1)niche/concentrated
2)undifferentiated/mass
3)Differentiated/selective
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Market Research
Primary Research
Questionnaires,Observation,Sampling, Focus group,Interview
Secondary Research
Market analyses,Government publications,Academic journals,Media articles
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Product
Product Life Cycle
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Growth-better awarness,expansion of distribution channels, EoS in production&marketing
Maturity-highest market share, stabilize as competition increases
Decline-shift in demand, new technology&models
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Boston Matrix
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Rising Star-high market share&high market growth (doing well,great opportunities)
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Dog-low market share&low market growth (weak in market,difficult to be profitable)
Aspects of Branding
Brand awareness,, brand development, brand preference, brand loyalty, brand value
Promotions
Types of Promotion
Above The Line-mass media (TV,radio,magazine,cinema)
Below The Line-taget market
(direct selling, word of mouth, loyalty offers)
Promotional Mix
Advertising, Public relations, Sales promotions, Personal selling
Guerilla Marketing
unconventional, suprising, memorable interactions using more personal or viral social media messaging
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Place
Distribution Channels
Zero Level Dstribution-manufacturer to consumer (telesales,e-commerce,direct mail,vending machine)
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Intermediaries
wholesaler,retailers,direct agents
Price
Pricing Strategies
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Price Discrimination-varies per market profile (elederly,disabled)
Loss Leadership-sold product at a loss, regain profit from other products
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Promotional Pricing-offers discounts, rebates
