Marketing mix and segmentation

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A simple presentation about marketing mix and segmentation I made for school!

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Marketing mix and segmentation

  1. 1. Market Segments and Marketing Mix Christie and Ryan
  2. 2. Market Segmentations Market segmentation involves dividing a broad target market into subsets of consumers who have common needs (and/or common desires) Depending on the society. These subsets may be divided/segmented by criteria such as: - Age - Gender - other distinctions such as location or income.
  3. 3. Segmentation -Geographic segmentation -> Geographic location -Demographic segmentation -> Based on variables -Psychographic Segmentation -> Lifestyles -Behavioural Segmentation -> Based on responses -Occasions -> Occasions of use "Positive" market Segmentation -> Similar wants or needs
  4. 4. Marketing Mix The marketing mix is a business tool used in marketing to determine a product or brand's offering and is often synonymous with the Four Ps:
  5. 5. Product A product is seen as an item that satisfies a consumer’s needs or wants. It can be a tangible good or an intangible service. The product a business plan to supply must: - Satisfy the wants or needs of customers - Be of an appropriate design that fulfills its functions and appeal to customers
  6. 6. - Branding -> Product identification by a unique name - Trade marks -> Registered symbol or a logo - Packaging -> Container or wrapping of a product - Product range -> Producing different types of product to reach different parts of market Product Differentiation
  7. 7. Product Life Cycle
  8. 8. Price is the amount that a customer pays for a product it’s of utmost importance as it determines the company's profit, There are different Pricing Strategies that can be adopted to sell a product
  9. 9. Competitive -> Pricing based on competitors’ prices Penetration -> Pricing lower than competitors’ prices Promotional -> Pricing to attract customers away from competitors Predator -> Pricing Low enough to drive competitors out of market Cost-Plus -> Adding a percentage for profit mark up Loss leader -> Pricing less than its costs Price leader -> Pricing like how others have priced Price skimming -> Pricing high enough for new products to cover production costs Pricing Strategies
  10. 10. Place Refers to providing the product at a place which is convenient for consumers to access Factors: -Legislations -Environment -Workforce -Competitors-Costs -Access to suppliers and customers -Infrastructures
  11. 11. Channels of Distribution -Manufacturer -> Produces the products -Wholesaler -> Buys products in bulk from the manufacturer -Retailer -> Outlet that sells products to the customers
  12. 12. Promotion Represents all methods of communication that a marketer may use to provide information to different parties about the product. Process of a successful promotion: Awareness -> Information -> Desire -> Action
  13. 13. Above the line promotions-> using media to advertise product. Tv, radios, websites Below the line promotions -> Promoting product without a media. Special offers, sponsorships Public relations -> keeping the product in the public eye in ways other than promotion Types of Promotion
  14. 14. THANK YOU

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