Marketing
An organization function and a set of processes for creating, communicating and delivering value to customers
Marketing
Breaking the market into more homogeneous consumer groups
Segmentation
Selecting one or more market segments to pursue
Targeting
who your brand or company is in the marketplace vis-a-sis the competition and in the eyes of the customer
Positioning
a self contained mini report stating highlights and recommendations of the larger planning document
Executive Summary
The art and science of choosing target markets
Marketing Management
Consumer have different motivations that drive their pruchases
Psychologist
are internal characteristics usually in comparison to competitors
Positioning is determine by what?
Marketing mix
Definition of 5Cs
Customer, Company, Context, Collaborators, Competitors
The task of hiring, training and motivating able employees who want to serves customers well
Internal Marketing
Group of consumers who shares similar inclination toward a brand
Market Segment
Definition of SWOT
Strength, Weakness, Opportunity, Threats
Give the 4Ps
Product, Price, Place, Promotion
assessing the macro environmental issues
Context
A collection of sellers
Industry
all customers are treated the same
Mass Marketing
Utilize SWOT to help clarify corporate fit
Corporate Fit
succinctly communicates parameters of a position
Positioning statement
working to maintain good relationships with both suppliers and downstream channel members is crucial
Collaborators
A collection of buyers
Market
Targeting small market that firm serves well
Niche
use secondary data and consumer survey data on preferences
Segment Sizing
shows graphical depictions of how brands and their competitors are perceived in the mind of customers
Perceptual Map
Crafting tactical decisions for desired product positioning in place related questions
Place