The document defines key marketing concepts: 1. Segmentation divides markets into subgroups with similar characteristics. Target marketing develops offerings for specific segments. 2. Brand positioning creates a market perception of a brand based on attributes. 3. Effective segmentation is measurable, accessible, substantial, and practical.

2. Definition
Segmentation: Subgroups within the total market that are
relatively similar in regards to certain characteristics.
Target marketing: An approach to marketing based on identifying, understanding
and developing an offering for those segments of the total market that the
organisation can best serve.
Brand positioning: A positioning strategy designed to create a market
perception of a particular brand, usually based on product attributes.

3. 4 categories:
1. Demographic
Effective segmentation 2. Geographic
measurability – abstract variables can
be difficult to measure
3. Psychographic
accessibility – through distribution and
communication channels
substantiality – the segment must be of
sufficient size to allow profitability 4. Behavioural
practicability – segments are only of use
if they can be identified and serviced

4. Targeting
1. Product specialisation 2. Market specialisation
3. Product–market specialisation 4. Differentiated targeting strategy

6. Definition
Product: A good, service or idea offered to the market for exchange.
Product mix: The set of all products that organisation makes available to customer.
Total Product Concept

7. Product Life Cycle (PLC)

8. New product development process:
1. Idea generation
2. Screening
3. Concept evaluation
4. Marketing strategy
5. Business analysis
6. Product development
7. Test marketing
8. Commercialisation
Other popular topics:
T ypes of product
B randing

10. Definition
Integrated marketing communications (IMC):
 The coordination of promotional efforts (advertising, sales
promotion, personal selling, and public relation) to maximise the
communication effect.
Objective of Promotion
 To create awareness
 To stimulate demand in the target market
 To encourage reseller support
 To build and maintain competitive advantages
Promotion Mix
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1. Advertising
2. Public relations Benefits & Limitations
3. Sales promotion
4. Personal selling

11. Communication Process

12. Steps in creating an advertising campaign:
1. Understand the market environment
2. Know the target market (audience)
3. Set specific objectives
4. Create the message strategy
5. Allocate resources
6. Select media
7. Produce the advertisement
8. Place the advertisement
9. Evaluate the campaign.
Models/Steps of personal selling (INPLCF):
1. Information (preparation & prospecting)
2. Needs (find out customer needs)
3. Product (presenting the products)
4. Leverage (encounter objections)
5. Commitment/close (buying decision)
6. Following up (after sales service)

14. Characteristics of services
 Intangibility
 Inseparability (or simultaneity)
 Heterogeneity
 Perishability

15. Service marketing mix
People
Process
Physical evidence

16. Challenges
Churn
Search qualities
Experience qualities
Managing differentiation
Delivering consistent customer service quality requires:
1. understanding customers’ expectations
2. establishing service quality standards
3. managing customers’ service expectations
4. measuring employee performance

18. Standardisation Vs Customisation

19. IM Environment
 Political
 Economic
 Social cultural
 Technology
 Legal

20. How to enter international market
 Exporting
 Licensing
 Franchising
Reasons for international marketing:
The world holds more potential
 Contract manufacturing
customers than the home market alone
Communication/transport technology
 Strategic alliance makes it a realistic option
Increasingly free trading environment
makes international marketing easier and
 Joint venture
domestic competition greater
May find a market that does not have
 Investment access to its product
Can achieve greater economies of scale