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MARKETING INGLESE - Coggle Diagram
MARKETING INGLESE
THE MARKETING STRATEGY -
STP PROCESS
STP= SEGMENTATION + TARGETING + POSITIONING
A. SEGMENTATION
DIVIDING THE MARKET INTO SMALLER GROUP
EACHE GROUP IS CALLED A MARKET SEGMENT
SEGMENTATION IS BASED ON FOUR CHARACTERISTICS:
1.DEMOGRAPHIC: AGE, GENDER AND POPULATION CHARACTARISTICS
2.GEOGRAPHIC: GEOGRAPHICAL LACATION AND AREA
3.PSYCHOGRAPHIC: LIFESTYLE, INTERESTS AND PERSONALITY
4.BEHAVIOURAL: BEHAVIOUR AND BUYING HABITS
B. TARGATING
SELECTING A SPECIFIC GROUP OF CONSUMERS
THIS GROUP IS CALLED THE TARGET MARKET
THE CHOICE DEPENDS ON:
THE NATURE OFTHE PRODUCT
PRICE
PROMOTION
THE COMPANY DECIDES WHICH GROUP OF CONSUMERS TO ADDRESS
C. POSITIONING
ESTABLISHING A PRODUCT'S POSITION IN RELATION TO COMPETITORS
USING A MARKET MAP
COMPARING PRODUCT CHARACTERISTICS. FOR EXAMPLE:
HIGH OR LOW PRICE
HIGH OR LOW QUALITY
MANI OBJECTIVE -> IDENTIFYING MARKET GAPS
IT HELPS COMPANIES FIND OPPORTUNITIES TO DIFFERENTIATE THEIR PRODUCTS FROM COMPETITORS
4.THE MARKETING MIX - THE 4P
1. PRODUCT
IT CONCERNS THE CHARACTERISTICS OF THE PRODUCT
MAIN ELEMENTS:
DESIGN
QUALITY
BRANDING
PACKAGING
FEATURES
OBJECTIVE -> DISTINGUISHING THE PRODUCT FROM COMPETITORS PRODUCTS
2.PRICE
IT IS THE PRICE AT WHICH THE PRODUCT IS SOLD
IT DEPENDS ON:
INTERNAL COSTS
SUPPLY
DEMAND
COMPETITION
COMPANIES USE MARKET-LED PRICING STRATEGIES
3. PLACE
IT CONCERNS HOW AND WHERE PROCTS ARE SOLD
MAIN DISTRIBUTION CHANNELS:
RETAIL STORES
WHOLESALERS
ONLINE SALES
OBJECTIVE-> MAKING PRODUCTS AVAILABLE TO CONSUMERS
4. PROMOTION
THE METHODS USED TO MALE CUSTOMERS AWARE OF PRODUCTS
MAIN PROMOTIONAL TOOLS:
ADVERISING
SALES PROMOTION
PUBLIC RELATIONS
PERSONAL SELLING
OBJECTIVE -> INFORMNF AND ATTRACTING CONSUMERS
EVOLUTION OF MARKETING
IN THE PAST
-> PRODUCT-ORIENTED
COMPANIES FOCUSED ON PRODUCTION
ATTENTION TO PRODUCTION COSTS
MAIN OBJECTIVE:MARKING PROFITS
LITTLE ATTETION TO MARKETING AND CONSTOMER NEEDS
TODAY
-> MARKET ORIENTED
MARKETS ARE HIGHLY COMPETITIVE
COMPANIES STUDY CONSUMER PREFERENCES
THEY FOCUS ON COSTOMERS NEEDS AND WANTS
MAIN OBJECTIVE: OFFERING PRODUCTS THAT SATISFY CONSUMERS
THE MARKETING PROCESS ->
4 MAIN STEPS
1. SITUATION ANALYSIS
IDENTIFYING UNFULFILLED COSTOMER NEEDS
EVALUATING COMPANY CAPABILITIES
ANALYSING EXTERNAL FACTORS
UNDERSTANDING MARKET OPPORTUNITIES AND CHARACTERISTICS
2. MARKETING STRATEGY
SELECTING A TARGET MARKET
DECIDING WHICH CONSUMERS TO FOCUS ON
POSITION THE PRODUCT AGAINST COMPETITORS
3. MARKETING MIX DECISIONS
MARKING DECISION ABOUT THE 4 PS:
PRODUCT
PRICE
PLACE
PROMOTION
4. IMPLEMENTATION AND CONTROL
LAUNCHING THE MARKETING PLAN
MONITORING RESULTS
CHECKING IF THE STRATEGY WORKS
ADJUSTING THE MARKETING MIX TO CHANGING CUSTOMER NEEDS
BRANDING
DEFINITION
A NAME, TERM. SING OR DESIGN
IT DIFFERENTIATES A COMANY'S PRODUCTS FROM COMPETITOR'S PRODUCTS
IT HELPS BUILD COSTOMER LOYALTY
CHARACTERISTICS OF A GOOS BRAND NAME
IT SHOULD CREATE A POSITIVE IMAGE
IT SHOULD BE EASY TO SPELL ANCHE REMEMBER
IT SHOULD BE TRUTHFUL AND REPRESENT THE PRODUCT CORRECTLY
KEY CONCEPTS
BRAND NAMES AS PRODUCTS CATEGORIES
SOME BRANDS BECOME SO FAMOUS THAT THEY REPRESENT AN ENTIRE PRODUCT CATEGORY
OWN-BRAND PRODUCTS
LARGE SUPERMARKETS CAN SELL PRODUCTS UNDER THEIR OWN BRAND NAMES
INTERNATIONAL BRANDING PROBLEMS
INCORRECT LANGUAGE TRASLATIONS
NAMES THAT MAY HAVE NEGATIVE MEANINGS IN OTHER COUNTRIES
-CONTROVERSIAL MARKETING
6. DIGITAL MARKETING
DEFINITION
THE USE OF DIGITAL MEDIA TO REACHE POTENTIAL CUSTOMERS
MAIN DIGITAL TOOLS:
WEBSITES
EMAILS
SOCIAL MEDIA
MOBILE DEVICES
ADVANTAGES
LOWER COSTS
GLOBAL REACH
SPEED
HIGH PERSONALISATION
BETTER CUSTOMER RELATIONSHIPS
DISADVANTAGES
HIGH ONLINE COMPETITION
TECHNICAL RESOURCES
SECURITY RISKS
SPAM ISSUES
RAPID STRATEGY CHANGES
NEGATIVE FEEDBACK
MARKET RESEARCH
DEFINITION
THE ACTIVITY OF COLLECTING AND STUDYING INFORMATION ABOUT CONSUMERS
IT ANALYSES:
COSTOMERS' WANTS AND NEEDS
PREFERENCES
BUYING HABITS
MAIN PURPOSE -> REDUCING BUSINESS RISKS AND MAKING BETTER DECISIONS
MARKET RESEARCHE METHODS
A. PRIMARY RESEARCH
COLLECTING NEW AND FIRSTHAND DATA
INFORMATION IS COLLECTED DIRECTLY FROM CONSUMERS
MAIN METHODS:
SURVEYS
PRODUCT TESTING
FOCUS GROUPS
ADVANTAGES
RELEVANT AND UP-TO-DATE INFORMATION
SPECIFIC DATA
INFORMATION COLLECTED DIRECTLY FROM CONSUMERS
DISADVANTAGES
EXPENSIVE
TIME-CONSUMING
B. SECONDARY RESEARCHE
USING PRE-EXISTING DATA
INFORMATION PREVIOUSLY COLLECTED BY OTHER PEOPLE OR ORGANISATIONS
MAIN SOURCES:
GOVERNMENT STATISTICS
COMMERCIAL SOURCES
NEWSPAPERS
ADVANTAGES
CHEAPER
FASTER TO CARRY OUT
DISADVANTAGES
DATA MAY BE OUTDATED
INFORMATION MAY BE LESS SPECIFIC OR LESS RELEVANT
TYPES OF DATA
QUANTITATIVE DATA
EXPRESSED I NUMBERS
PRESENTED HROUGH GRAPHS AND TABLES
OFTEN COLLECTED THROUGH SURVEYS
USED TO ANALYSE NUMERICAL RESULTS AND QUANTITIES
QUALITATIVE DATA
DESCRIPTIVE INFORMATION
BASED ON OPINIONS, IMPRESSIONS AND JUDGMENTS
OFTEN COLLECTED THROUGH FOCUS GROUPS
USED TO UNDERSTAND CONSUMERS' OPINIONS IN DEPTH