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factors influencing marketing strategies INK may consider - Coggle Diagram
factors influencing marketing strategies INK may consider
Resources …
Budget - a financial plan that outlines your expected income and expenses over a specific period
Time - the continuous progression from the past, present and the future
SE - any worker who has special skill, training or knowledge which they can then apply to their work
Ability to react to unforeseen changes …
CICR - an evolution in how buyers respond to a business's products, marketing or brand experiences
CICD - when consumer interest in purchasing a good or service shifts, resulting in a change in the quantity demanded even when the price remains exactly the same
Different markets …
OM - the global financial exchanges and international territories outside of the home country of the business, providing diversification, access to high growth sectors and exposure to foreign currencies
BTB - the commerce or transactions conducted between companies rather than between a company and individual consumers
DM - the supply and demand of goods, services and capital within a single country's borders
BTC - the commercial model where a company sells products or services directly to individual, end use consumers
Stakeholders …
AOC - allowing businesses to map out their strategy, anticipate market shifts and identify unseen opportunities or threats
Businesses at different stages of their life cycle …
Start up - a temporary newly founded business focused on rapid growth and finding a viable market for an innovative product
Mature business - an enterprise that has moved beyond its rapid growth phase into a period of market stability, steady cash flow and loyal customers
Social trends …
Health - a major cultural shift, heavily influencing how the public approaches wellness
LC - emphasising long term well being and sustainability.
Marketing Mix
a business's ability to adapt its product, price, place and promotion in response to shifting consumer behavior, market fluctuations or new competitor activity
Contingency planning
DWUE - balancing mental preparation with practical planning
DWUC - to prepare for, adapt to or manage events and shifts that have a low probability of occurring but would cause a significant disruption if they did