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PAC Marketing Plan _STP_MM.pptx
- 2. • What is marketing?
- 4. • Marketing strategy Model – STP • How to develop and create value • Customer to serve? Choose which customers they want to target/ customers they want to sell to • The Challenge is to segment the Market to find the different parts of the market that are most attractive and then to target • Which segment do they want to focus on in order to have the best chance of success • Once identified which market to target the next challenge is how to best compete in that market • How to serve the customers in the target market segment • How to identify the right positioning for your product in terms of the features that the target customers wants
- 6. MARKET SEGMENTATION • DIFFERENT PARTS OF THE MARKET WHERE CUSTOMERS HAVE SIMILAR NEEDS & WANTS • OR NICHE SEGMENT – SPECIALIZED MARKET
- 7. MARKET SEGMENTATION • ENABLES TO BE MORE FOCUS • ENABLE THE MARKETING MIX TO BE MORE ACCURATE TO BE BETTER FOCUSED
- 8. TARGETING • MASS MARKETING – UNDIFFERENTIATED • SEGMENTED -TARGET A MARKET & IDENTIFY THEIR NEEDS • Concentrated or NICHE – Focused marketing concentrate products. Identify a profitable Niche where you can quickly build a strong market position and maximize returns
- 9. Value proposition – point of view of customers
- 11. PERCEIVED VALUE
- 12. THERE IS MORE THAN ONE WAY OF POSITIONING YOUR PRODUCTS FOR SUCCESS BUT ITS ALL UNDERSTANDING HOW CUSTOMERS PERCEIVE VALUE
- 14. Right mix to be competitive…
- 16. Marketing mix • Used to promote products or services • Product – includes your product brand, range, lines, packaging, labeling and other features • PRICE- value of trade offs including money, time, & efforts • PLACE – where the product or service will be sold. How quick to respond. Where consumers will be most likely to buy or look • PROMOTIONS – How your customer will know about your products & services. Online or Offline Campaigns. SocMED, Direct Selling. Etc
Editor's Notes
- A Target Market is a set of customers sharing common needs and wants that a business decides to target
- A market (or positioning) map illustrates the range of “positions” that a product can take in a market based on two dimensions that are important to customers Having chosen which segments to target Businesses need to decide how to compete in those segments Marketing people call this the value proposition It should be unique Market position is defined by customers The place a product occupies in customer minds relative to competing products
- Offer more for less E.g. BRAND good quality at low prices Offer more for more Eg high priced luxury products with prestige value Offer more for the same E.g. introduce new features & better performance for the same price Offer less for much less E.g. no-frills low cost flying and hotels; good quality, back to basics & low price
- The marketing mix is the combination od marketing elements used by a business to enable it to meet the needs and expectations of customers
- Because each element of the marketing mix is related to the others Elements of the mix should work together to achieve the desired effect
- PEOPLE The people who contact customers in delivering the product Pre & Post sales. Employing experts or not? PROCESS The systems and processes that deliver a product to a customer Ordering, Payment etc. PHYSICAL EVIDENCE Proof that the product exist What they see when they look at you (your product/service) e.g. uniform, building, product packaging, website