The document discusses key marketing concepts used by Pizza Hut including:
1) Segmentation involves grouping customers into homogeneous sets based on similar responses to marketing. Pizza Hut segments target youth, two-income families, and those aged 13-40.
2) Targeting evaluates segments to decide which to serve, with Pizza Hut targeting middle and upper middle class, and college graduates.
3) Positioning creates a brand image in customers' minds, with Pizza Hut positioning on quality, frequency, and their tagline of being the best pizzas under one roof.
4) Marketing strategy integrates goals for maximum profit. Pizza Hut's strategy is customer satisfaction through quality, cleanliness, hospitality, accuracy, maintenance
Market division is the way toward partitioning a market of potential clients into gatherings, or fragments, in light of various qualities. The portions made are made out of purchasers who will react also to showcasing techniques and who share characteristics, for example, comparative interests, needs, or areas.
A target market is the market a company wants to sell its products and services to, and it includes a targeted set of customers for whom it directs its marketing efforts. Identifying the target market is an essential step in the development of a marketing plan.
Learn more about the benefits and steps involved in Market Segmentation, Targeting and Positioning.
Market division is the way toward partitioning a market of potential clients into gatherings, or fragments, in light of various qualities. The portions made are made out of purchasers who will react also to showcasing techniques and who share characteristics, for example, comparative interests, needs, or areas.
A target market is the market a company wants to sell its products and services to, and it includes a targeted set of customers for whom it directs its marketing efforts. Identifying the target market is an essential step in the development of a marketing plan.
Learn more about the benefits and steps involved in Market Segmentation, Targeting and Positioning.
Recently I was required to provide a brief run down of psychometric tests and their applications. There's more than I thought. Hopefully someone else might find this powerpoint useful too.
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Often when you ask a small business owner who they are targeting as customers, their response is “Everyone”, or “Anybody interested in…” They might refine this audience down to “homeowners” or “people who go to the gym”. This is still too broad. The problem is with this is, not all consumers think alike, and not everyone is going to purchase your product. Because of this broad focus, marketing can miss the mark.
Instead of trying to market to everybody, targeted marketing makes your product or service as attractive as possible to certain groups of people. Firms focus their marketing efforts on a specific and defined audience.
Targeting focuses all marketing efforts on the defined group or groups of people MOST LIKELY to become profitable customers. These groups of customers will have common characteristics and interests and could be based on existing customers, as there is likely to be similar people who you will also benefit. The targeted customers might also be groups of people who overlooked by the competition. If they are profitable, this then presents an opportunity for that business.
With targeting, marketing becomes more affordable, efficient and effective at generating customer leads. Saving money on marketing and a better return on investment are the most obvious benefits of targeted marketing – especially for small businesses with frugal marketing budgets.
Targeted marketing is far more cost-effective than mass marketing as firms are not wasting time and money marketing to people who will never be a customer.
Instead, the target audience is specific types of consumers who are most likely to become customers.
Market, definition of Marketing, Scopes of Marketing, Nature of Marketing, Functions of Marketing, Marketing vs. selling, Roles and Functions of Marketing Manager Marketing Environment and much more.
E- Marketing Strategies
A marketing strategy refers to a business' overall game plan for reaching prospective consumers and turning them into customers of the products or services the business provides.
Marketing strategy is a process that can allow an organization to concentrate its limited resources on the greatest opportunities to increase sales and achieve a sustainable competitive advantage. A marketing strategy should be centered on the key concept that customer satisfaction is the main goal. Fulfillment of wants of the prospects is one the important goals of marketing activities.
1. Segmenting
The process of grouping customers into relatively homogeneous sets such that customers within a
segment are similar to one another in the way they respond to marketing effort directed at them. A
market segment is a specific group of customers with similar needs, purchasing behaviors, and
identifying characteristics. Their segmentation includes identifying the people who have high disposable
income. They mainly target youth, two income families. And age group of 13 – 40 years. The two main
segments are geographic segmentation and psychographic segmentation .Under the first segmentation,
localizing the products, advertising, promotion and sales effort to fit in the needs of the different regions
in the country.
Targeting
The process of evaluating various segments and then deciding how many and which segments to serve is
called as targeting. The main target of the pizza hut is middle class and upper middle class people. The
main target college graduates, since they are ready to spend compared to the other target audience
identified.
Positioning
Positioning is the process by which marketers try to create an image or identity in the minds of their
target market for its product, brand, or organization. Pizza hut has done its positioning in the market by
two main factors quality and frequency. Especially their tag line “Best pizzas under one roof “.And also
the unique dining experience , the so called customer mania also helps pizza hut to position themselves.
Marketing Strategy
A strategy that integrates an organization's marketing goals into a cohesive whole. It focuses on the
ideal product mix to achieve maximum profit potential. The marketing strategy of Pizza hut is “we want
to satisfy our customer by giving them the best “.They believes in C.H.A.M.P.S. They stand for
cleanliness, hospitality, accuracy, maintenance, product quality and speed. They also follow 2f’s .They
stand for friendly and familiar. These are followed in all the pizza hut places.
Customer service
According to AMA “ ,A customer-oriented corporate philosophy that integrates and manages all of the
elements of the customer interface within a predetermined cost-service mix “ .In pizza hut they mainly
concentrate on the customer service. It is known for its customer service. They believe in providing
uncompromising product value , offering customers the highest value for money and giving service that
2. warm , friendly and personal .They also provide unique dining experience . They believe in “customer
mania” , the kind of service that ensures that every visit of the customer is a memorable one.