Marketing fundamentals 3
•
1 like•973 views
Presentation on basics of markerting - part 3
Recommended
More Related Content
What's hot
What's hot (20)
Viewers also liked
Similar to Marketing fundamentals 3
Similar to Marketing fundamentals 3 (20)
More from Riccardo Antonelli
More from Riccardo Antonelli (20)
Recently uploaded
Recently uploaded (20)
Marketing fundamentals 3
- 2. www.gema.it Chi è il principale concorrente dei BACI PERUGINA?
- 3. www.gema.it
- 4. www.gema.it
- 5. www.gema.it Marketing management process R •Market Research STP •Segmentation, Targeting and Positioning MM •Marketing Mix (4 P’s) I •Implementation C •Control
- 6. www.gema.it Marketing management process R •Market Research STP •Segmentation, Targeting and Positioning MM •Marketing Mix (4 P’s) I •Implementation C •Control
- 7. www.gema.it research "It Is the starting point for marketing. Without research, a company enters a market like a blind man" P. Kotler The Story is told about a Hong Kong shoe manufacturer who wonders whether a market exists on a remote South Pacific Island ORDER TAKER: “The people here don’t wear shoes. There is no market!” SALESMAN: “The people here don’t wear shoes. There is a tremendous market!” MARKETER: “The people here don’t wear shoes. However they have bad feet. I have shown the chief how shoes would help his people avoid foot problems. He is enthusiastic!”
- 8. www.gema.it Marketing management process R •Market Research STP •Segmentation, Targeting and Positioning MM •Marketing Mix (4 P’s) I •Implementation C •Control
- 9. www.gema.it strategic Marketing “is the way a firm effectively differentiates itself from its competitors by capitalizing on its strengths to provide better value to customers than its competitors” P. Kotler SEGMENTATION: “Since the research is likely to uncover several customer segments, management must decide which segments to pursue” TARGETING: “By checking its competencies against the success requirements in each segment, it can choose the target segments more wisely” POSITIONING: “The company must then position the company’s offering so that target customers know the key benefit(s) embodied in the offering”
- 11. www.gema.it strategic Marketing Targeting Example Our target is: Male, 30-50 years old, single, graduated, latin, east coast based, vegetarian, sport addicted, pro-active, looking for healthy products, instinct e-commerce buyer
- 12. www.gema.it strategic Marketing positioning “IT is THE EFFORT TO IMPLANT THE offering's KEY BENEFITS and DIFFERENTIATION IN THE CUSTOMER’s mind” P. Kotler
- 13. www.gema.it strategic Marketing BRAND Positioning it is important to understand that a brand only exists in the mind of your target consumer or not at all!
- 14. www.gema.it strategic Marketing BRAND’s value proposition The full positioning of a brand is called the BRAND’s value proposition It is the answer to the customer’s question: “why should I buy your brand?”
- 21. www.gema.it Marketing management process R •Market Research STP •Segmentation, Targeting and Positioning MM •Marketing Mix (4 P’s) I •Implementation C •Control This is the Tactical Marketing Stage that is for the setting of the tools that will support and deliver the positioning of the company product
- 22. www.gema.it TACTICAL Marketing product design Product design will be dictated by your target market. For example bright colors may be chosen to attract children, pink and pastel colors for female adults and dark colors such as black, navy, charcoal for male adults. The design of a product can often be the thing that sells it.
- 23. www.gema.it TACTICAL Marketing product features They are correct bundle of benefits to the end user 1. Core Benefit the fundamental need or want that consumers satisfy by consuming the product or service. 2. Generic Product a version of the product containing only those attributes or characteristics absolutely necessary for it to function. 3. Expected Product the set of attributes or characteristics that buyers normally expect and agree to when they purchase a product. 4. Augmented Product inclusion of additional features, benefits, attributes or related services that serve to differentiate the product from its competitors. 5. Potential Product all the augmentations and transformations a product might undergo in the future.
- 24. www.gema.it TACTICAL Marketing product Quality quality is made up of tangible features (features that can be seen) e.g. performance, appearance, strength and intangible features such as reputation and exclusivity
- 25. www.gema.it TACTICAL Marketing product Branding It is the tool used by an organization to differentiate itself from competitors Product branding has to work across all of the firm's trading and promotion platforms including retail shops, telephone, television and of course the internet.
- 26. www.gema.it TACTICAL Marketing price Pricing is the only element of the marketing mix that is not a cost. The remaining 3p’s are the variable cost for the organization. Setting a low price to increase sales and market share at the product launch and in the first period Selling optional extras along with the product to maximize its turnover Setting a high price to reflect the exclusiveness of the product Setting a price in comparison with competitors Bundling a group of products at a reduced price, e.g. BOGOF (buy one get one free) Setting an initial high price and then slowly lower the price for a wider market Considering the psychology of price to customer’s mind, e.g. 0,99 € instead of 1€
- 27. www.gema.it TACTICAL Marketing promotion You can’t have a successful product or service without clearly communicate its benefits to the target market.
- 29. www.gema.it TACTICAL Marketing place This refers to how an organization will distribute the product or service they are offering to the end user Producer: firm that produces goods and services Consumer: person or organization that purchases goods and services Retailer: person or company that sells goods and services to the consumer Wholesaler: person or company that sells goods and services to businesses and not to individuals Distributor: entity that buys noncompeting products or product lines, warehouses them, and resells them to retailers or direct to the end users or customers Agent/Broker: person or company that acts as a sales agent on behalf of the producer, introducing its products to potential buyers (distributors or wholesalers)
- 30. www.gema.it Marketing management process R •Market Research STP •Segmentation, Targeting and Positioning MM •Marketing Mix (4 P’s) I •Implementation C •Control The company at this stage, having engaged in strategic and tactical mktg planning must now produce the product, price it, distribute it and promote it. All the company’s departments must go into action!
- 31. www.gema.it Marketing management process R •Market Research STP •Segmentation, Targeting and Positioning MM •Marketing Mix (4 P’s) I •Implementation C •Control The Final step in the Marketing management process Successful companies are learning companies. They collect feedbacks form the marketplace, audit and evaluate results, and make corrections designed to improve their performance