Within the definition of marketing is the discussion of a process of planning and tirucamilo.cf;. Economic. Environment. Technological-. Natural. Environment. Political-. Legal. Environment. Social-. Cultural. Environment. The Marketing Process. consumer marketers (B2C) follow a similar process, with a your search- friendly releases on your site – they should be an actual page on the site, not a PDF.
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ISBN PDF: This guide defines a marketing process that you can use to put structure around your daily, monthly and annual revenue-. This guide will teach you about marketing processes and how to develop a strategic A strategic marketing planning process also helps with: . Excel | PDF . CONTENTS. UNIT – I. Lesson Introduction to marketing. Lesson Marketing concepts. Lesson Marketing process. Lesson Marketing environment.
This is the part of the process where you start executing your plan. By the way, step 3.
Take your sample data and get it into a spreadsheet; are there any issues with the data structure? This will allow you to catch potential problems early, and there are always problems.
Collect Your Data This is the meat and potatoes of your project; the time when you are administering your survey, running your focus groups, conducting your interviews, implementing your field test, etc.
The answers, choices, and observations are all being collected and recorded, usually in spreadsheet form. Each nugget of information is precious and will be part of the masterful conclusions you will soon draw.
Analyze Your Data Step 4 data collection has drawn to a close and you have heaps of raw data sitting in your lap. Start to formulate the story you will tell.
Now is the time to compile the most meaningful take-aways into a digestible report or presentation. As it is obvious that the company do not satisfy the needs and wants of the whole market therefore it must divide the whole market into different segments and choose the segment that will best meet its strengths and opportunities.
In this regards, there are certain step you need to follow.
Market Segmentation: The process in which the whole market is split into different units of consumers, each unit having similar wants, characteristics and behavior of consumers which need different marketing mixes and strategies. Market Targeting In this process the targeted segments of the total market are evaluated to ascertain the attractiveness of each segment so that the one or two most suitable and potential segments should be selected and entered.
The simple rule of selecting the target unit or segment is that it must provide the opportunity to the company to create potential customer value in the long run. Another important rule is that a certain company has the option to satisfy the needs and wants of one or two segments. In this case the company focuses on that relevant segments and develops its products and strategies for them only.
The company has also another option to split the whole market into different segments and offers different products and marketing mixes to each segment of the market. But the most effective method is to focus on one or two segments and after succeeding in those segments, further new segments should be targeted.
Market Positioning: This concept relates to the positioning of the product of a company in the minds of the customers as compared to the products of competitors.
In other words the company tries to maintain a clear and specific perception in customers about its products. Direct activities add value at the customer interface as the consumer experiences the service. Many processes are supported by indirect activities, often known as back office activities, which support the service before, during and after it has been consumed.
Another view is that marketing has a number of processes that integrate together to create an overall marketing process, for example — telemarketing and Internet marketing can be integrated. A further view is that marketing processes are used to control the marketing mix , i. All views are understandable, but not particularly customer focused.
Going on a cruise — from the moment that you arrive at the dockside, you are greeted; your baggage is taken to your room. You have two weeks of services from restaurants and evening entertainment, to casinos and shopping.
Finally, you arrive at your destination, and your baggage is delivered to you. This is a highly focused marketing process, and is an example of the importance of process in enabling delivery of the customer proposition.
Another way of looking at this example is that there is end to end service support, which has enabled transactions between the company and its customers.