Marketing Concepts Overview

Inhoud

• Marketing 1: page 2
• Marketing 2: page 5
• Marketing 3: page 10
• Marketing 4: page 15
• Marketing 5: page 22

Marketing 1

• The strategic planning, implementation, and control processes are described.
• Defining the corporate mission, building corporate culture, establishing SBUs, assessing growth opportunities, and assigning resources to each SBU are key components of strategic planning.
• A good mission statement should focus on a limited number of goals, stress the company's major policies and values, define the major competitive spheres, take a long-term view, and be concise, memorable, and meaningful.

Marketing 2

• Economic environment factors include purchasing power, income distribution, savings rate, debt, and credit availability.
• Industrial structures are categorized as industrial economies, industrializing economies, raw-material exporting economies, and subsistence economies.
• Fad, trend, and megatrend are types of developments that shape the future with varying time influences.
• Population demographics like size, growth rate, age mix, ethnic mix, education, household patterns, regional characteristics, and lifestyles are examined.

Marketing 3

• Customer satisfaction and the concept of Total Customer Benefit and Total Customer Cost are discussed.
• The role of customer expectations in satisfaction and possible dissatisfaction are outlined.
• How to satisfy customers is included through the organizational chart structure as an approach to customer-centric organization.
• Total customer benefit and total customer cost are important in understanding customer behaviour

Marketing 4

• Target marketing requirements include identifying and profiling distinct buyer groups, selecting target segments, and establishing and communicating offering benefits.
• Bases for segmenting B2C markets include geographic, demographic, behavioural, user and usage, and psychographic factors, as well as needs and benefits.
• Bases for segmenting B2B markets include demographic, operating variables, purchasing approaches, situational factors, and personal characteristics are also discussed, offering insight into understanding various customer types.
• Effective segmentation criteria include measurable, substantial, accessible, differentiable, and actionable segments.

Marketing 5

• Market members such as market leaders, challengers, followers, and nichers are defined
• Understanding market leader strategies, and how to stay number one, is important for business success.
• Six Types of Defense Strategies are identified in Market Leader situations.
• Understanding different market strategy options, and how to respond to market factors, is important to effectively lead and sustain a business.

Additional Information from the Pages

• Target Market Identification: The target market comprises target customers, collaborators, competitors, the company itself, and context or climate.
• Marketing Information Systems (MIS): A system of people, equipment, and procedures to gather, analyze, and distribute marketing-related information.
• Sources of Information: Internal records, order-payment cycles, sales information systems, databases, market intelligence, internet, social media, consumer data, and meetings with company managers.
• Marketing Research: A systematic and organized process of collecting, analyzing, and reporting data related to specific marketing situations facing a company. Research approaches and methods are identified, including primary and secondary data sources, observational research, ethnographic research, focus groups, surveys, and interviews. Characteristics of good marketing research are also noted.
• Measures of Market Demand: Potential market, available market, qualified available market, and penetrated market.
• Performance Marketing: How to understand business returns on marketing.
• Brand Positioning: Competitive frame of reference, points of difference, and points of parity, brand mantra, and brand element choice criteria. Defining brand builders, secondary knowledge sources, and brand valuation are included. Defining and developing a brand strategy to meet market needs and grow the brand are considered.
• Product Differentiation: Identifying features, durability, style, customization, conformance quality, reliability, performance, and repairability, to build product value.
• Service Differentiation: Elements like Ordering ease, customer consulting, delivery, installations, and maintenance are critical for differentiation of services.
• Product and Brand Relationships: Product portfolio design, product mix pricing, and co-branding are relevant branding strategies.
• Product Life-Cycle Strategies: Product strategies for introduction, growth, maturity, and decline stages are discussed.
• Market Leader Strategies: Protecting current market and increasing market share over competitive situations.
• Market Challenger Strategies: Methods of attacking a market leader, and techniques used by smaller competitors.
• Market Follower Strategies: Techniques and methods used to identify a gap in the market and increase market share
• Market Nicher Strategies: strategies for targeting niche markets.
• Sales and Profit Life Cycle: Stages and characteristics of the product life cycle including strategies for each stage and common patterns.