MARKETING

Marketing (MacKenzie U 10)

Marketing activities I II

• Identify/anticipateneeds/wants of target consumers (market research):– internal research

– secondary data

– focus group interviews

– quest. research

– sales staff...

• Analyze data

• Satisfy the needs better than the competition –strategic decisions about:– product (design)

– pricing

– promotion

– distribution (placement)

Marketing Process

If necessary adapt

marketing strategy

Monitor consumer reaction/salesperformance

Re-assess consumer reaction/

Sales levels

Devise/analyse marketing strategy

Selling vs. Marketing

• Focus on:

PRODUCT vs. CONSUMER – selling buying– inward looking outward looking – out-dated state-of-the-art– shorter longer time horizon– about profit now …– introverted …

● Market opportunities

Market opportunities – profitable __________ of fillling unsatisfied ________ or creating _______ ones in areas in which the company is likely to be more successful than the _____________.

Market opportunities – profitable possibilities of filling unsatisfied needs or creating new ones in areas in which the company is likely to be more successful than the competitors.

Target markets

MARKET SEGMENTATION - BABY BOOMERS, X-GENERATION, Y-GENERATION, Z-GENERATION…

- YUPPIES, GUPPIES, MILKIES, DUMPS, SWELLS, DINKS, SKIPPIES, BOBOS, FEMS, SINKIES, MINKIES, WOOPIES…

Market segmentation1. School Kids with Income and Purchasing Power

2. Double Income no Kids

3. Burnt-Out-But Opulent (people)

4. Green Upward-mobile Professionals

5. First-time Expectant Mothers

6. Single Women Expect Lots in London

7. Modest Introverted Luxury Keeper

8. Young Upwardly-mobile Profesionals

9. Downwardly-mobile Professionals

10. Sinkies/Minkies – Single/Middle Income No kids

11. Woopie - Well Off Older People

HW

• 1 d Comprehension (MK p 67)