Notas de Estudio de Marketing

Marketing Study Notes

• Marketing encompasses more than just advertising; it's a set of techniques aimed at maximizing sales.
• Market research's goal is to understand how potential customers respond to a product or service, leading to a suitable business strategy.
  • Key market research techniques include gathering existing data (published information), surveys, interviews, direct observation, and using 'mystery shoppers' (or 'client fantasma'). Data sources include online resources like internet and social media, industry associations, government statistical agencies, and market research companies).
• Market segmentation involves dividing the market into groups with similar characteristics for better targeting.
  • It helps companies understand the needs of different segments and tailor their marketing strategies accordingly.
  • Key segmentation criteria include demographics (age, gender, income), geography (location), psychographics (lifestyle, values), and behavioral aspects (purchasing habits, brand loyalty).
• Target market refers to the specific segment or segments that a company aims to reach with its product or service.
  • Defining this segment is crucial, as it allows for strategically focused marketing efforts.
  • Knowing this allows the company to deliver the proper marketing stimulation.
• The 'marketing mix' is a crucial concept that comprises four key elements (often referred to as "the four Ps"): product, price, promotion, and place/distribution.
  • Product encompasses the good or service being offered, including features, design, packaging, and brand.
  • Price considers the cost of the product, considering production costs and appropriate profit margins, and what the market will pay for it
  • Promotion involves techniques like advertising, sales promotions, and public relations to communicate the product.
  • Place relates to the distribution channels—how the product reaches the end customer, including online or physical stores. – Branding is crucial, it distinguishes products from competitors; a strong brand name and logo are vital.
  • Types of branding strategies include single-brand (selling all products under the same brand), multi-brand (different brands for different product lines), and second-brand (a lower-cost or adjusted brand).
• Distribution channels encompass warehousing, transportation, and selling the product to the final consumer. Companies, when appropriate, use intermediaries (like distributors or retailers.)
• Market share represents the percentage of the total market that a specific company or product holds.
• Location is important in business; companies need to consider factors like the industry sector, availability of space, suitable transportation, accessibility to customers and market analysis.