Marketing Strategies: Positioning, Place & Logistics

Marketing Defined

• Includes creating products, communicating their value, pricing them, and delivering them to customers
• Consists of creating, communicating, and exchanging offerings that benefit customers, partners, and society

The "Seven Ps" of Marketing

• Value Proposition: The full set of benefits buyers receive when their needs are met, considering the price and effort involved
• Positioning: Comparing an offering's product, price, promotion, and place to competitors in the marketplace
• Differentiates an offering and shapes its perception in the consumer's mind
• People: Identifying the target audience
• Essential to identify target audience and the consequences of failure to target correctly
• Promotion: Creating awareness for a product or service
• Examples include TV advertising, billboards, magazines, product placement, social media, and event sponsorships
• Place: Delivering an offering
• Extends beyond simple product delivery to the user, including ensuring user understanding and ongoing service

Core Marketing Elements

• Product: Any item or service sold to satisfy a want, need, or both
• Products can be branded or unbranded
• Price: Determining what the customer will pay
• Requires assessing competitors' prices, costs, and desired margin
• Value: Ensuring the user understands the product's benefits and receives necessary service
• Often delivered through a company's supply chain
• Logistics: The transportation process to and storage of materials and products
• Primary part of supply chain management

Evolution of Marketing Approaches

• Production Orientation: Companies compete by cutting production costs through mass production at minimal cost
• Gave rise to the production era
• Selling Orientation: Companies try to push products through advertising and selling
• Techniques of persuasion were paramount to convince consumers
• Price was important and price
• Gave rise to the selling era
• Product Orientation: Success is based on focus on product innovation
• Led to a new era with customers as the main priority
• Focus on fulfilling customer's needs.
• Value Era: Value is created for customers, customer-centric
• One-to-One Era: Companies compete by building relationships with customers individually
• Seek to serve each customer's needs individually
• Transformative Era: Companies and products are transformed to better serve customers

Brands

• A unique name or image that makes a promise of differentiated value that consumers will have in mind when thinking of the product
• Brands let marketers charge higher prices or sell more products with the similar price point

Unbranded Products

• Examples include sand, lumber, and nail salon services
• They aren't exclusive to a specific brand

The Importance of Marketing

• Marketing is everywhere
• Examples include resumes, clothing, and Linkedin profiles

External Environments that effect marketing

• All organizations must comply with government regulations and understand political and legal business environments
• Governmental regulations that ensure both consumer and business protections are enforced in different government agencies.
• The Sherman Act: bars American companies from limiting trade through the establishment of monopolies and cartels
• The Federal Trade Commission (FTC) polices advertisements to avoid instances of false advertising
• Food and Drug Administration (FDA) mandates the correct labeling of consumable items like food and medicine

Economic Factors that affect Businesses

• Aspects considered for a Competitive Analysis
• Levels of Unemployment
• Rate of inflation and its effects on the purchasing power of consumers
• Changes in interest rates
• The current position of the economy
• Whether the economy is seeing growth or stagnation
• This directly effects the demand for particular goods in the Economy

Effects of a Recession

• Demand Increases for
• Indoor Entertainment
• Recreational vehicles
• Live-streamed concerts
• Demand Decreases for
• Theme Parks
• Public Gyms
• Vacation rentals.

Environmental Factors

• Marketing plans are also effected by Demographics, Cultural shifts and societal changes
• A society can influence the latest trends through the views toward lifestyle, fitness trends, and eating trends

How Technology Effects Marketing

• Communication and Business have changed through advances in tech
• Marketers are starting to rely on online ads and mobile marketing
• Companies need to be versatile to take advantage of new advancements in tech

Marketing Environment

• Scarce commodities mean that environmental resources are dwindling
• Consumers are more aware of the scarcity of resources
• A way to improve is through Green marketing promotes environmentally safe services and products
• Green marketing also lowers costs, increasing revenue

STP Marketing Model

• Segmentation is creating markets from distinct groups of customers
• Targeting is selecting which markets to use
• Positioning is determining the position towards the consumer that will be displayed

Strategy

• The method used to achieve goals and objectives

Developing a Marketing Strategy involves:

• Examining external factors in the environment
• Trade journals, databases, surveys, interviews, and more
• Examining internal factors in the environment
• Interviews, business results, surveys, and more

Analytical Frameworks

• SWOT Analysis
• Strengths
• Weaknesses
• Opportunities
• Threats

PESTEL Analysis

• Political
• Fiscal policy
• Gov Activity
• Conflicts / help
• Taxes
• Economical
• GDP
• Employment rate
• Exchange Rate
• Inflation
• Income Level
• Social
• Demographics
• Cultural Factors
• Religion
• Lifestyle
• Education level
• Technological -Tech access
• Infrastructure
• Research
• Tech Trends
• Environmental
• Enviro policies
• Recycling
• Consumption trends
• Production processes
• Natural Risks
• Legal
• Wages
• Rights
• Job security
• Regulations
• Controlled Marketing

Marketing Involves

• Institutions and creation
• Delivering exchanging offerings
• All benefit customers, clients and society

Marketing

• People and places
• Price and Product
• Promotion

Market Segments

• The grouping of people and entities with like characteristics
• Customize marketing mix to specifically suit each group

Targeting segments

• Selecting which market segments to pursue with plans

Positioning

• Creating a preferred position for a firm in the mind of consumers

Segmentation bases

• Standards used to compare and separate people into different groups
• Getting a picture and value is based on dividing customers

Segmentation Types

• Behavioral: what do customers want and how do they use it
• Demographic: profile including age, gender, income, etc
• Geographic: where are people/customers located and how can they be reached
• Psychographic: what do customers think, value, and how do they live

Behavioral Segmentation

• Benefits sought: separating by looking at the benefits wanted
• Usage situation: dividing according to usage: daily, weekly, monthly, holiday
• Application: segmenting by ways customers use it
• Manner in which product is used
• Optimize for the customers by catering to each understanding

Demographic Segmentation

• Public data is used to segment markets with demographics
• Most popular type of segmentation

Geographic Segmentation

• Divides buyers where they are located
• Climate, Density and Region can give the Geoclimate of Geographic marketing information

Geodemographic segmentation

• Combines Geo and Demographic data to identify marketing opportunities
• New tech Firms are integrating new ways to approach segmentation

Psychographic

• Relies on the behavior, why consumers value aspects of consumer criteria
• Values. Attitudes and Lifestyles are the cornerstone of the Pschographics approach

Segmentation in B2B

• B2B sees fewer need based approaches

B2B Behavioral Segmentation

• A price-focused segment: small companies who need high sales
• A service-focused segment: expect excellence in service
• A partnership-focused Seg: need reliable partners

Targeted Marketing Versus Mass Marketing

• Targeted Marketing: Differentiated marketing strategy
• Selected Marketing is differentiated for better groupings
• It's a modern method
• Mass Marketing: Selling a standard, evolving method through selling
• A way of marketing with mass and no grouping of customers

People Targeting

• Identification of the target consumer
• Important in knowing if a target audience is reached

What is targeting and benefits

• Focuses your marketing on a specific group
• Provides a targeted approach

Good Target Qualifications:

• A large enough target can make profit with operating cost
• Has future growth to continue production
• Not completely overrun by competitors
• There is an access strategy in place
• Company has avenues to compete in it
• Target follows the firm's objectives

Targeting involves

• More focus on particular targets
• Using data analysis
• Internet activity is used to track and divide interests

Who to target:

• Existing client base
• New Customers

Attracting Customers Approach

• Target current Customer
• Approach methods are to Survey and conduct focused marketing

Sales growth comes

• Marketing to existing customers or acquiring new customers

Customers can consist of

• Switching from competitors with new options available

Positioning

• Showcased how consumers view a product comparative to competition
• Goal is to show the key features in a distinct image
• A " perceptual map" with x and y dimensions displays where value is for the consumer
• Slogans can be used to display key messages and feelings for marketing

How to consumers react to marketing

• Repositioning is a method to change the mind of the consumer

Consumer behavior encompasses

• Situational Behavior
• Psychological Behavior
• Social Behavior
• Personal Behavior

Consumers are studied through

• Web Visites
• Blogs
• Social accounts
• Survey

Situational Factors

• Can make or break a business

Outside Forces on product performance

• Smell for a store
• Weather

A Customers purchasing habits can change in response to

• A gift needed at a specific moment
• A item becomes a task, consumers are driven to buy quickly
• All under the idea of mood.

External Factors:

• In-store experience can drastically affect the mood of customer
• Stores with lower prices see better performance during economic downturn
• Demand during the pandemic was very high for specific goods.

During Covid Pandemics effects:

• Increased for
• Indoor Dinning
• Vacationing
• Physical events.

Personality

• Describes a distinct personality
• Highlights the reason for marketing
• Comes down to distinct traits

Main Personality Traits

• Openness
• Conscientiousness
• Extroversion
• Agreeableness
• Neuroticism

Self Concept

• When marketing a particular project, people see an image tied it

Consumers can display aspects of

• People buy items that enhances their feeling
• Gender for both Men and Women
• Gender effects a lot of marketing styles.

Age

• Age is used to target purchases
• Cognition displays influence in buying

Lifestyle

• Traits are commonly seen with people as a consumer

Consumer Traits

• Common needs are what drives behavior
• To market one must know why
• Consumers want fulfillment when shopping
• Mid-1900s, developed the hierarchy of needs

Maslow's Hierarchy of Needs

• Physical Needs: food, water, sleep
• Safety Needs: safe and sheltered
• Social Needs: love
• Self Actualization: Your full potential

Perception

• How people perceive their place in the world
• Involves five external senses
• Includes a few items

Selective Advertising types

• Consumers retain what they enjoy or have heard
• Shock ads
• Can display a lot of strong points.

How do firms retain Consumers.

• CDC and other similar brands commonly display scare tactics to inform
• Banned from TV, subliminal ads are the most banned

Learning

• Consumers change actions and behaviors.

What drives behaviors

• Prizes and rewards
• Free washes are a strong incentive.

Attitudes and Marketing

• Display reactions and feelings to clients/customers.

Societal and Cultural

• Family, friends, and Subculture are the social aspects
• Culture, and Ethnicity also serve the same purpose
• People work to be together

Social Class

• Economic and Education
• The primary thing that drives it is the job and their income

Marketing is defined by

• Is their opinion or feeling, they can express this.
• Has to provide an offering that consumers receive

Routine Response vs Extensive

• Automatic with some knowledge
• Large Knowledge base
• Risk taking vs Impulse
• Impulse, no knowledge and random

How to determine High vs Low risk

• Purchasing factors determine whether the price is affordable

Consumer process requires

• Product evaluation vs use
• Information and disposal

Stages of the Consumer's Purchasng Process

- There is an understanding and need for the information
- There is consideration for product
- Goal to pursue the plan
- Post evaluation dissonance to make the correct decision
- All leads to an emotional journey to create new feelings

B2B Marketing

• A method using consumers in between
• Selling to business and not directly consumer
• Businesses and consumers can interact for best outcome

B2B Considerations

• Smaller amounts than selling to customers
• Far larger transactions than most customer transactions
• B2B sells on factors and interactive selling

B2B vs B2C Market

• Large amounts of customers vs small
• Small transactions vs Large
• Fast vs Slow decisions
• Mass vs Personal marketing

More rigid regulations

• There are 4 segments, producers can transform services and goods
• Resellers can sell transformed goods
• Gov has ability to pay for large amount

Government buyers look at

• Buyers can be non profits for business
• State and local can provide for needs
• State and fed need to give business to smaller ones

Government

• Bidding is expected
• The bids need to give the most returns
• Red Tape is slow but still can offer opportunity

Purchase Decision in B2B

• Determining decider in buyers
• Can be long to understand buyer and outcome
• Multi Tiers requires both consumers and business

The B2B dynamic has a direct factor on

• Decisions surrounding it
• B2B wants to market products and services

Marketing Research

• Designing, analyzing, and generating all information to better inform
• Is there an understanding of problems?

All lead to

• Generate, refine, evaluate potential marketing actions

There are several steps in Marketing research

1. Establish the research
2. Define the process
3. Identify types
4. Collect results
5. Communicate insight

Stage 1 key factors

• Can cost outweight benefit?
• Cost money and time
• All should provide information to make research needed

Stage 2 and forward

• Should guide the decision
• Key aspects should follow all requirements set

Stage 3

• Establish objectives and research parameters

Stage 5

• Identify information types

Types of Data

• Samples should be from all demographics to present all aspects to all
• Entering and understanding the tests and results

BigData Quantitive

• Quantify all forms of BigData
• Access should be accessible to all types of consumers

Catagories of Research

• Big Data allows more to become involved in the structured question aspect

Analyzing Data and Interpreting Data

• By understanding the thoughts of consumers

A way for consumers to display interest

• In "Thick Data", this provides qualitative insights in the phenomenon

Why? vs What? Method

• Helps to uncover driving factor
• Understand the deep feelings of actions
• Measurable Stats

Objective

• People, place objects and activity

In-depth Interviews

• Gathering detailed insight to questions
• What? "What is a survey?"

Researching the qualitative will benefit

• Purpose with focus groups for individual thoughts
• Small talk gathers greater info

Research

• Borrowing terms and info
• Immersion is the key to research

Method

1. Involve situations where the people is under analysis through stimulated projects
2. Understand project requirements
3. Display findings and conclusions through story

Measuring Marketing

• Provide tangible and intangibility
• Determine a tangible description of the item

Question and Processes

• Types should be varied
• Questions should have a goal and focus that avoids confusing
• Strive to avoid Biases and questions of influence

Qualities of Marketing

• Survey collects specific features and preferences
• Allows better understanding of value when surveys are performed

The most common marketing terms:

• Samples
• Investigations
• Probabilities vs Non
• Probability: Chance of being selected with set outcome
• Non probability: unkown outcome of selecting members from demographics

Research needs several forms of

• Effectiveness with method
• Importance with random
• Achieve high rates of representation

The goal of Research

• Larger samples leads to a more effective finding
• Elements also lead to effectiveness

There is a large list of

• Info when creating
• Report in research

A story is an effect way to communicate a

• Power points with storytelling and a relation factor

Offerings and Products

• Tangible benefits exist that can be bought, sold or owned

The intangibility of

• An action provides an intangible benefit
• Usually require that the consumer be physically present
• Cannot be Stored

Tangible goods are

• Service components
• The price and the total cost
• This comes with ownership

There is a Model

• Can be used by many
• How well they operate
• A focus with empathy and providers

Dominance can often be associated with

• Product innovation and low prizes

One should understand that

• There can be the wrong integration of services
• Some can come at the cost and the way different are augmented can change

Understanding the Sharing Economy

• When there are more tangible and intagible benefits
• There is often a shared economy because tech allows asset to increase
• There is a drive down the prices

Product analysis

• The core part of product forms and shapes products and services
• Offer tech to increase and offer plat
• Information comes that there has to be a change in the product line for different markets

Consumer offers are created through

• Shoping and ease to come

A offer also must keep to some standard

• Standard pricing is also important to think about
• There is a constant combination if intangibility

Industries are focusing on

• A product and customers together
• Marketers are thinking more like customers and find the correct pricing

Offers come from specific factors so

• A line can lead specific trends

Brand

• Use factors to determine why customers purchase a product

Product lines come from several qualities

• Designing a particular brand
• Creating a brand is specific and require high levels of product and marketing standards
• Key identifiers must be understood to drive and maintain brands
• Extensions are used to create new additions but has the risk of "eating" older products

Braded Strategy

• Create different Brand vs having different products

Explore marketing strategies covering differentiated positioning for eco-friendly products, the Seven Ps for small businesses, and the role of 'Place' in software subscriptions. It also looks into product vs. benefit-focused messaging and supply chain logistics.