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4.1 the role of marketing 4.2 marketing planning - Coggle Diagram
4.1 the role of marketing 4.2 marketing planning
market orientation VS product orientation
product orientation
approach to marketing that is focused on innovation. They think about
what to produce/invent
in case od success, minimal competition but time consuming and expensive
market orientation
approach to marketing that is focused on market research They think about
what to sell
quick response to needs and wants but time consuming & expensive
characteristics of the market in which an organization operates
market size
refers to the total sales in the industry, measured by value (€,dollars) or by volume (nº of items sold)
market share
firm’s portion in total sales in the market/industry
Market share (%)
= organisation’s sales ÷ total sales in the industry ⨉ 100
market growth
percentage of the positive change in market size
Market growth (%)
= (market size now – market size before) ÷ market size before ⨉ 100
commercial and social marketing
commercial marketing
is the use of marketing strategies to meet the wants and needs of customers in a profitable way
Social marketing
refers to the marketing activities designed to influence the behaviour of the general public
importance of market share and leadership
market leadership
the firm wth the highest market share in the industry
role of marketing planning
marketing planning
is the process of setting marketing objectives and determining marketing strategies for their achievement
marketing plan
a document that records marketing objectives and strategies
segmentation, targeting and positioning
segmentation
is dividing potential customers into groups with similar characteristics
market segment
a group of customers with similar characteristics
demographic segmentation
age, gender, ethnicity
geographic segmentation
country, region, province
psychogaphic segmentation
hobbies, whealth, class (middle, low)
targeting
s the process of selecting the relevant market segments to sell to
undifferenciated (mass) targeting
not targeted, pepsi, kleenex
differenciated (segmented) targeting
selects a few segments & targets them differently (dior wants to sell male and female perfume)
Concentrated (niche) targeting
narrow and specific group of customers (billabong targets surfers, burton snowboarders)
consumer profiling
is the process of outlining the description of a "perfect customer"
positioning
is the process of presenting the brand/product in a specific way in order to create a desired customer perception
PPM (product positioning map)
a visual tool that outlines customers perceptions on brands or products
niche VS mass
niche market (targeted)
very specifically and narrowly defined group of potential customer (billabong,)
mass market (non-targeted)
unspecific and broadly defined group of potential customers (pepsi, kleenex)
USP and differentiation
USP (unique selling point)
is a feature for a product or organisation that helps it to stand out (distinctive) among competitors (cost-effective, doesn't guatantee sales)
Differenciation (process)
is the process of using the USP in such a way that customers perceive the product as unique and different from those of competitors (cost-effective)