Marketing involves identifying and satisfying customer wants profitably. It is not just selling but understanding customers so the product sells itself. The marketing process includes gathering market research, analyzing findings, implementing strategy using the marketing mix of product, price, place and promotion, and reviewing the strategy. Market segmentation involves dividing the market into subgroups that share characteristics to target them effectively.

1. What is Marketing? ‘ Marketing is the management process involved in identifying, anticipating and satisfying customer wants profitably.’ (Institute of Marketing) Marketing is not just selling. it is about knowing and understanding your customer ‘ The aim of marketing is to make selling superfluous. The aim is to know and understand the customer so well that the product or service sells itself.’ (Peter Drucker)

2. The Marketing Process Gather information through market research (secondary and primary) Analyse market research findings Implement marketing strategy using Marketing Mix Review marketing strategy Set business & marketing objectives

3. Appendices 13 References 12 SWOT analysis and Evaluation of Marketing Plan 11 Promotional Material 10 Marketing Plan: Marketing Strategy Product Price Promotion & Promotional Budget Placement 9 Business Environment 8 Analysis & Evaluation of Market Research Findings 7 Market Research 6 The Importance of Marketing 5 Aim, Mission Statement, Objectives and Constraints 4 Company Name 3 Business Proposal 2 Action Plan 1 Contents page Contents page Title page Title page HEADING SECTION

4. The Marketing Mix Product Price Promotion Place

5. Production or Consumer Led? PRODUCT ORIENTATION an approach to business which places the main focus of attention upon the production process and the product itself MARKET ORIENTATION an approach to business which places the wants of the consumers at the centre of the decision making process

6. Analysing the Market MARKET SEGMENTATION: the process of dividing a market into sub-groups (segments & niches) which share similar characteristics MARKET SEGMENT: Part of the market which contains a group of buyers with similar characteristics, ie, age, income MARKET NICHE: a very small segment of the market

7. Ways to Segment a Market Age Gender Education level Occupation Socio-economic group Income Lifestyle Family Geographical Ethnicity & culture Religion Type of purchase – planned or impulse

8. STP Model of Marketing MARKET SEGMENTATION MARKET TARGETING PRODUCT POSITIONING The process of dividing a market into segments and niches Choose particular segment or niche as target market Use marketing mix to develop Unique Selling Proposition for product to differentiate it from rivals

10. PRODUCT POSITION MAPS Market research helps identify your position in the market Think about your MARKET RESEARCH DESIGN e.g. age group 10 - 30 - not a lot of use Break down further This will help you identify gaps

11. Positioning Map 1 High price Low price High quality service Quick, standard service Frank’s Toni & Guy Vidal Sassoon Maria’s Splitz Hollywood Hair Kojak Hairstylists

12. Positioning Map 2 Premium price Budget price Aspirational (image) Commodity (function) Barratt K shoes Bally Shelleys Ravel Clarks Crest Church’s Dolcis

13. Positioning Map 3 Adult Child Refreshment Indulgence Bounty Tropical Solero Twister Calippo Opal fruits Starburst Cornetto Feast Mars Magnum Vanilla tubs Mini milk Mini juice