OUTLINE 1. Definitions: Market & Target Marketing 2. Two Market Types 3. Role of Market Segmentation 4. Criteria For Effective Segmentation 5. Segmenting Consumer Markets 6. The Segmentation approach 7. Market Segmentation Process 8. Strategies For Reaching Target Markets ...
PART 2 MARKET SEGMENTATION Target Marketing A company cannot serve all customers in a broad market. The customers are too numerous and diverse in their buying requirements. Many companies are embracing Target Marketing. Here, sellers distinguish the major market segments ...
What is a Market? A market are those who have: A need or desire, and The ability to pay, and The willingness to buy (soon) Target Market A target market are those who: Are grouped within a market by what ...
MARKETING PLAN A set of procedures or strategies for: attracting the target customer to a business Achieving marketing goals THREE REASONS FOR MARKETING PLAN 1. Part of overall business plan. 2. Demonstrates goals and strategies for upcoming year. 3. Demonstrate ...
DEFINE; MARKET SEGMENTATION 2 MARKET SEGMENTATION “Market segmentation is the process brands use to divide their target market into smaller segments of people that share common characteristics to optimize their marketing, advertising and sales efforts” (Tow, 2019, sec. 1) ...
Terms • Market – includes the group of all potential customers who share common needs • Target market – group of very specific customers that a company desires to have as consumers • Mass marketing – single marketing plan to ...
Here you can start drafting your business plan My Logo My Key Business Plan Elements 0. Vision and Mission 1. Business Model 2. Executive Summary 3. Market Entry Strategy 4. Market Segmentation 5. Competitive Environment 6. Offerings 7. Market Positioning ...
Pengertian Marketing Mix • Bauran pemasaran merupakan seperangkat alat pemasaran yang digunakan perusahaan untuk mencapai tujuan pemasaran dalam memenuhi target pasarnya. • The tools available to a business to gain the reaction it is seeking from its target market in ...
Positioning Positioning Your brand position Your brand position in the mind of Create the essence in the mind of Create the essence target audiences target audiences Brands position(ing) A brand’s position represents the brand’s place in the market ...
A) LOCATION DECISION: Following location analysis should be considered Demographic study of the population. Psychographic profile of the population. Size of the target market in that area. Probable competition from other firms in that area. Positioning of competition in the ...
Learning Objectives • Understand the each definition of Segmentation, Targeting, and Positioning • Know what is the part of Segementation, Targeting, and Positioning • Understand the reason why STP Model is needed by the company Three Major Steps • Identify ...
Learning Outcomes (slide 1 of 2) 8-1 Describe the characteristics of markets and market segments 8-2 Explain the importance of market segmentation 8-3 Discuss the criteria for successful market segmentation 8-4 Describe the bases commonly used to segment consumer markets ...
• Thus Marketing can be categorized as a branch of business as well as a social science. We buy goods (thus becoming the buyer/consumer) from a vendor (or producer/seller), creating a transaction. • In the past, marketing involved traveling salesmen ...
MARKETING CONCEPT • The marketing concept ensures that the business always focuses on the needs of consumers first, before it develops a good or service. MARKETING • Marketing is the business processes that are used to understand, anticipate and satisfy ...
Learning Objectives 1. Identify the variables that global marketers can use to segment global markets and give an example of each. 2. Explain the criteria that global marketers use to choose specific markets to target. 3. Understand how global marketers ...
Executive summary • Abstract/summary to be completed after rest of the pack • Mission & Vision –What is the reason for the company’s existence? • Why might people be motivated to work for you? –What is ...
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