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Questions and Answers
What is the main goal of target marketing?
What is the main goal of target marketing?
What is the first step in the STP framework?
What is the first step in the STP framework?
What is the 'P' in the marketing mix that deals with getting the product to the target market?
What is the 'P' in the marketing mix that deals with getting the product to the target market?
What is the difference between customer needs and wants?
What is the difference between customer needs and wants?
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What type of research involves collecting original data through surveys and focus groups?
What type of research involves collecting original data through surveys and focus groups?
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What is the main goal of marketing strategy?
What is the main goal of marketing strategy?
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What is the term for a unique advantage that sets a product or service apart from competitors?
What is the term for a unique advantage that sets a product or service apart from competitors?
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What is the primary purpose of marketing research?
What is the primary purpose of marketing research?
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কনসুমার বিহেভিয়ারের উপর কালচারাল ফ্যাক্টরস প্রভাব ফেলে না।
কনসুমার বিহেভিয়ারের উপর কালচারাল ফ্যাক্টরস প্রভাব ফেলে না।
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মার্কেটিং মিক্সের উপাদানগুলির মধ্যে প্লেস ব্যবসায়ের পণ্য বা সেবা পৌঁছে দেয় না।
মার্কেটিং মিক্সের উপাদানগুলির মধ্যে প্লেস ব্যবসায়ের পণ্য বা সেবা পৌঁছে দেয় না।
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মার্কেট সেগমেন্টেশন ব্যবসায়ের আইনগুলি কর্মকর্তা করে না।
মার্কেট সেগমেন্টেশন ব্যবসায়ের আইনগুলি কর্মকর্তা করে না।
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মার্কেটিং এনভায়রনমেন্ট ব্যবসার আভ্যন্তরীণ কার্যক্রমগুলি বিবেচনা করে না।
মার্কেটিং এনভায়রনমেন্ট ব্যবসার আভ্যন্তরীণ কার্যক্রমগুলি বিবেচনা করে না।
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কনসুমার বিহেভিয়ারের উপর সোসাল ফ্যাক্টরস প্রভাব ফেলে না।
কনসুমার বিহেভিয়ারের উপর সোসাল ফ্যাক্টরস প্রভাব ফেলে না।
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মার্কেট সেগমেন্টেশন ব্যবসায়ের কাস্টমার স্যাটিসফ্যাকশন কমানোর উদ্দেশ্যে করা হয়।
মার্কেট সেগমেন্টেশন ব্যবসায়ের কাস্টমার স্যাটিসফ্যাকশন কমানোর উদ্দেশ্যে করা হয়।
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লক্ষ্য বাজার হলো একটি ব্যবসা যা তার পণ্য বা সেবা বিক্রি করে
লক্ষ্য বাজার হলো একটি ব্যবসা যা তার পণ্য বা সেবা বিক্রি করে
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মার্কেটিং মিক্সের ৪টি উপাদান হলো প্রোডাক্ট, প্রাইস, প্লেস ও প্রমোশন
মার্কেটিং মিক্সের ৪টি উপাদান হলো প্রোডাক্ট, প্রাইস, প্লেস ও প্রমোশন
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লক্ষ্য বাজার নির্ধারণের ফলে ব্যবসায়িক প্রতিষ্ঠানের মার্কেটিং প্রচেষ্টা কমে যায়
লক্ষ্য বাজার নির্ধারণের ফলে ব্যবসায়িক প্রতিষ্ঠানের মার্কেটিং প্রচেষ্টা কমে যায়
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মার্কেটিং মিক্সের প্রোডাক্ট উপাদানটি হলো ব্যবসায়িক প্রতিষ্ঠান কর্তৃক প্রদত্ত সেবা
মার্কেটিং মিক্সের প্রোডাক্ট উপাদানটি হলো ব্যবসায়িক প্রতিষ্ঠান কর্তৃক প্রদত্ত সেবা
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লক্ষ্য বাজার নির্ধারণের ফলে ক্রেতার সন্তুষ্টি বাড়ে
লক্ষ্য বাজার নির্ধারণের ফলে ক্রেতার সন্তুষ্টি বাড়ে
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Study Notes
Target Marketing
- Identifying a specific group of customers to serve with a unique product or service
- Segmenting, targeting, and positioning (STP) framework:
- Segmenting: dividing the market into distinct groups based on characteristics
- Targeting: selecting the most promising segment(s) to pursue
- Positioning: creating a unique image or identity for the product or service in the target market
Marketing Mix (4 Ps)
- Product:
- Developing a product that meets the needs and wants of the target market
- Features, benefits, quality, and design
- Price:
- Determining the optimal price for the product or service
- Factors influencing pricing decisions: production costs, competition, target profit margin
- Place (Distribution):
- Getting the product or service to the target market
- Channels of distribution: direct, indirect, online, offline
- Promotion:
- Communicating the value of the product or service to the target market
- Advertising, sales promotions, public relations, digital marketing
Customer Needs and Wants
- Identifying and satisfying customer needs and wants
- Needs: basic requirements for survival and well-being
- Wants: desires that go beyond basic needs
- Creating customer value:
- Delivering what customers want and need
- Exceeding customer expectations
Marketing Research
- Gathering and analyzing data to understand the target market
- Primary research: collecting original data through surveys, focus groups, and experiments
- Secondary research: analyzing existing data from internal and external sources
- Importance of marketing research: informing marketing decisions, reducing uncertainty, and improving competitiveness
Marketing Strategy
- Aligning marketing efforts with business objectives
- Creating a unique selling proposition (USP)
- Developing a competitive advantage:
- Cost leadership
- Differentiation
- Focus on a specific market niche
- Adapting to changes in the market environment
Target Marketing
- Identifying a specific group of customers to serve with a unique product or service
- STP framework:
- Dividing the market into distinct groups based on characteristics
- Selecting the most promising segment(s) to pursue
- Creating a unique image or identity for the product or service in the target market
Marketing Mix (4 Ps)
Product
- Developing a product that meets the needs and wants of the target market
- Features, benefits, quality, and design are key considerations
Price
- Determining the optimal price for the product or service
- Factors influencing pricing decisions:
- Production costs
- Competition
- Target profit margin
Place (Distribution)
- Getting the product or service to the target market
- Channels of distribution:
- Direct
- Indirect
- Online
- Offline
Promotion
- Communicating the value of the product or service to the target market
- Advertising, sales promotions, public relations, and digital marketing are key promotional tools
Customer Needs and Wants
- Identifying and satisfying customer needs and wants
- Needs are basic requirements for survival and well-being
- Wants are desires that go beyond basic needs
- Creating customer value by:
- Delivering what customers want and need
- Exceeding customer expectations
Marketing Research
- Gathering and analyzing data to understand the target market
- Primary research involves collecting original data through:
- Surveys
- Focus groups
- Experiments
- Secondary research involves analyzing existing data from internal and external sources
- Importance of marketing research:
- Informing marketing decisions
- Reducing uncertainty
- Improving competitiveness
Marketing Strategy
- Aligning marketing efforts with business objectives
- Creating a unique selling proposition (USP)
- Developing a competitive advantage through:
- Cost leadership
- Differentiation
- Focus on a specific market niche
- Adapting to changes in the market environment
Target Market
- A specific group of consumers that a business aims to serve with its products or services
- Identified by understanding demographic, geographic, psychographic, and behavioral characteristics of potential customers
- Importance: helps businesses tailor marketing efforts, increases marketing campaign effectiveness, and enhances customer satisfaction and loyalty
Marketing Mix
- Also known as the "4 Ps"
- Four key elements to promote and sell products or services:
- Product: meets target market needs
- Price: amount customers pay for a product or service
- Promotion: all ways a business communicates with its target market
- Place: channels to get products or services to the target market
Consumer Behavior
- Study of how individuals, groups, and organizations make decisions about what products or services to buy
- Influenced by:
- Cultural factors (values, beliefs)
- Social factors (family, friends)
- Personal factors (age, income)
- Psychological factors (motivation, perception)
- Marketing mix factors (product, price, promotion, place)
Market Segmentation
- Dividing a larger market into smaller groups with similar needs, wants, or characteristics
- Benefits: tailored marketing efforts, increased campaign effectiveness, and enhanced customer satisfaction and loyalty
- Common segmentation bases:
- Demographic (age, gender, income)
- Geographic (location, climate)
- Psychographic (lifestyle, personality)
- Behavioral (usage rate, loyalty)
Marketing Environment
- External factors affecting marketing decisions and activities
- Components:
- Microenvironment: internal factors (company, suppliers, marketing intermediaries)
- Macroenvironment: external factors (economic, political, social, technological)
- Importance: helps businesses understand and adapt to market changes, identifies opportunities and threats, and enhances marketing strategy development
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Description
Test your knowledge of marketing basics, including target marketing and the marketing mix. Learn how to identify and serve specific customer groups, and create a unique product or service to meet their needs.
