...Introduction Marketing is one of the important element for any successful business because it is all about letting people know what is the products/services of the company and how do you persuade them to purchase your products/services. Marketing strategy is a process which allows a company to concentrate on its limited resources and increase its sales as the greatest opportunities ad achieve a sustainable competitive advantage. The key concept of market strategy is centered on the customer satisfaction as the main goal. A marketing strategy combines product development, promotion, distribution, pricing, management relationship and other element which identifies the company’s marketing goals and explains how marketing strategy determines the choices of target market segments, marketing mix, positions and allocation of resources. It is the most effective when it is an integrated component of all firm strategy by defining how company will successfully engage the customer’s prospects and competitors in the market arena. Market strategy is changing therefore we need a marketing strategy for each product. In this assignment we are going to develop a marketing strategy for a product Tanuf mineral water. The product is from the National Mineral Water Co. SAGOG. Was set up in 1979 with technical expertise from Evian France- world leaders in the field of national mineral water. ...
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...usiness and Management Logistics as It Relates to Marketing and Production Marketing Logistics Production Marketing Logistics Production Marketing Logistics Production Marketing Logistics Production Marketing Logistics Production Marketing Logistics as it relates to Production Logistics Production and Marketing Marketing Logistics Production Term Paper for Physical Distribution Class Marketing Logistics12/25/2012 Production Marketing Logistics Nahom GetachewProduction - UU47997E Samuel Fikre - UU48012E Marketing Logistics Production Marketing Logistics Production Marketing Logistics Production Marketing Logistics Production Marketing Logistics Production Marketing Logistics Production Marketing Logistics Production Marketing Logistics Production Marketing Logistics Production Marketing Logistics Production Marketing Logistics Production Marketing Logistics Production Marketing Logistics Production Marketing Logistics Production Logistics Logistics Logistics Logistics Logistics Logistics Logistics Logistics Logistics Logistics Logistics Logistics Logistics Logistics Logistics Logistics Logistics Logistics Logistics Logistics Logistics Logistics Logistics Table of Contents Preface: Johnson and Johnson’s Tylenol....................................................................................................... 2 Introduction ................................................................................................................................................
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... | introduction | 3 | | outcome 2 – the concepts of segmentation, targeting and positioning | 3 | §2.1 | macro and micro environmental factors which influence marketing decision | 3 | §2.2 | segmentation creterias for products in different markets | 4 | §2.3 | targeting strategys | 5 | §2.4 | how a byer behaviour affects marketing activities in different buying situations | 5 | §2.5 | new positioning for a selected product/service | 6 | | outcome 3 –elements of the extended marketing mix | | §3.1 | explantion of how products are developed to sustain competitive advantage | 6 | §3.2 | explnation of how distribution is arranged to provide customer convinience | 7 | §3.3 | explnation of how prices are set to reflect an organisation’s objectives and market conditions | 8 | §3.4 | evaluation of how promotional activity is integrated to achieve marketing objectives | 10 | §3.5 | the analyse of the additional elements of the extended marketing mix | 12 | | outcome 4 – use of the marketing mix in different contexts | 14 | §4.1 | the plan of marketing mixes for two different segments in consumer markets | 14 | §4.2 | the illustration of differeces in marketing products and services to businesses rather than consumer | 16 | §4.3 | how and why international marketing differs from domestic marketing | 19 | | conclusion | 21 | | bibliografy and references | 22 | introduction Marketing...
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...The purpose of this paper is to create a marketing strategy using women as target market. Two competitors and their positioning will be analyzed to develop an efficient marketing strategy. Explanations for segmentation base, target markets, positioning and competitive advantages will be provided for better perception. Marketing Strategy for Shield Self Defense System Introduction To be able to develop a good marketing strategy it is imperative to define the target market, analyze competitor and their positioning, understand competitive advantages, and to develop a value proposition and statement. Definition of the Segmentation Bases Geographic segmentation which is about were possible consumers reside or place of employment (area, city size). Demographic segmentation is market segmentation accomplished by taking in to account several demographic factors such as; gender, race, age, income, birth era, and occupation. Psychographic segmentation is in relation to potential consumer’s personality, life style, values, and needs. Behavioral segmentation is about apparent attitudes or actions by prospective consumers such as; where they purchase from, how often they purchase, and the reason of the purchase (Kerin, 2011). Description of Each of the Target Markets Target market is group of possible consumers that share common characteristic and needs, thus, business’s uses those findings to create strategies for marketing purpose. One of the target markets that would...
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...Segmentation and positioning A case study of Bang & Olufsen Segmentation and positioning – Bang & Olufsen Table of contents 1. Introduction ............................................................................................................................ 2 1.1 Problem Statement .............................................................................................................................................................. 2 1.2 Methodology .......................................................................................................................................................................... 3 1.2.1 Data gathering .................................................................................................................................................................... 3 1.3 Delimitation ............................................................................................................................................................................ 4 2. Bang & Olufsen ........................................................................................................................ 4 3 Segmentation .....................................................
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...MARKET SEGMENTATION, TARGETING AND POSITIONING MARKET SEGMENTATION INTRODUCTION: - The market for any product is normally made up of several segments. A ‘market’ after all is the aggregate of consumers of a given product. And, consumer (the end user), who makes a market, are of varying characteristics user and buying behavior. There are different factors contributing for varying mind set of consumers. It is thus natural that many differing segments occur within a market. In order to capture this heterogeneous market for any product, marketers usually divide or disintegrate the market into a number of sub-markets/segments and the process is known as market segmentation. segmentation Thus we can say that market segmentation is the segmentation of markets into homogenous groups of customers, each of them reacting differently to promotion, communication, pricing and other variables of the marketing mix. Market segments should be formed in that way that difference between buyers within each segment is as small as possible. Thus, every segment can be addressed with an individually targeted marketing mix. The importance of market segmentation results from the fact that the buyers of a product or a service are no homogenous group. Actually, every buyer has individual needs, preferences, resources and behaviors. Since it is virtually impossible to cater for every customer’s individual characteristics, marketers group customers to market segments by variables they have in common. These...
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...Segmentation, Targeting and Positioning Objectives: 1. To identify and define the three steps in target marketing: segmentation, targeting, and positioning. 2. Understand bases for segmenting consumer markets. 3. To know how to identify attractive market segments. 4. To understand how to position products to gain competitive advantage. Topics for Discussion: 1. Steps in market segmentation, targeting and positioning 2. Bases for segmenting consumer markets 3. Evaluating and selecting market segments 4. Choosing a positioning strategy 5. Developing a positioning statement 6. Communicating and Delivering the Chosen Position Introduction Companies are recognizing that they cannot serve all buyers in the marketplace. There are various types of customers with different needs and buying behavior. Rather than competing in the entire market (mass marketing) companies identify parts of the market that they can serve well and profitably (market segmentation and targeting). Let’s Define the Terms Market Segmentation – dividing a market into distinct groups with distinct needs, characteristics, or behavior who might require separate products or marketing mixes Target Marketing – the process of evaluating each market segment’s attractiveness and selecting one or more segments to enter Market Positioning – arranging for a product to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers. ...
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...Product Life Chycle”: Product life-cycle (PLC) like human beings, products also have an arc. From birth to death, human beings pass through various stages e.g. birth, growth, maturity, decline and death. A similar life-cycle is seen in the case of products. The product life cycle goes through multiple phases, involves many professional disciplines, and requires many skills, tools and processes, Product life cycle The concept of product life cycle is based on the following observations: * Products have a limited life. * Product sales pass through distinct stages, each posing different challenges, opportunities, and problems to the seller. * Profits rise and fall at different stages of the product lifecycle. * Products require different marketing, financial, manufacturing, purchasing, and the human resource strategies in each stage of their life cycle. Stage Characteristics 1. Market introduction stage 1. costs are very high 2. slow sales volumes to start 3. little or no competition 4. demand has to be created 5. customers have to be prompted to try the product 6. makes no money at this stage 2. Growth stage 1. costs reduced due to economies of scale 2. sales volume increases significantly 3. profitability begins to rise 4. public awareness increases 5. competition begins to increase with a few new players in establishing market 6. increased competition leads to price decreases 3. Maturity stage 1....
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...Marketing Principles HND in business management NAME:KABITA MAHARJAN ID NUMBER:859549 ASSIGNMENT:1St Submitted to : Zara Bhokhari Date of submission :31st march Contents 1.o Introduction......................................................................................................................3 1.1Definitions...................................................................................................................3 2.o Background of BP.............................................................................................3 2. 1Marketing orientation ….................................................................................3&4 2.2Advantages disadvantages.....................................................................................4 3.o Marketing processing................................................................................................4&5 4.o PESTLE …...........................................................................................................5&6 5.o SWOT …..............................................................................................................6&7 6.o Segmentation..............................................................................................................7&8 6.1 Targeting.......................................................................................................... 6.2Positioning...
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...Royal Business College Determine Market Segmentation, Targeting and Positioning Decisions Unit 2934 Version 4 | Level 6 | Credits 10 Year 2015 National Diploma in Business Level Name: Lucy ID: A1234 Table of Contents | Page | 1. Introduction | 3 | 1.1 Introduction to market segmentation | 3 | 1.2 Background of the Case Study | 3 | 1.3 The company Marketing Objectives | 4 | 1.4 The benefits that company receive by segmenting the market | 4 | 1.5 Brand Name of the soft drink | 4 | 2. Part one: Potential Market Segmentation Assessment | 4 | 2.1 Resource implications | 4 | 2.2 Understanding and meeting customer needs | 5 | 2.3 Identification of the competitor activities | 5 | 2.4 Evaluation of market performance | 6 | 2.5 Segment viability and attractiveness | 6 | 2.6 Any other implications directly relevant to the company | 6 | 3. Part two; Apply Market segmentation Processes | 7 | 3.1 Identify potential market segments | 7 | 3.1.1 Geographic | 7 | 3.1.2Demographic | 7 | 3.1.3Psychographic | 8 | 3.1.4 Behavioral Usage | 8 | 4.2 Evaluate the potential of each market segment | 9 | 3.3 Evaluate the potential of each market segment | 10 | 3.3.1 Product usage and potential | 10 | 3.3.2 Segment...
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...related to the most was market segmentation and the various criteria that impacts market selection. Creating a consumer driven marketing strategy is imperative for companies inspiring to be or are successful. “Companies today recognize that they cannot appeal to all buyers in the marketplace or at least not to all buyers in the same way (Armstrong & Kotler, 2011, p. 174).” Consumers vary in age, location, income, nationality, social class, gender, family size, education, religion, and many more variables. Thus companies are straying from mass marketing and focusing more on target marketing (2011). Market targeting is the process of evaluating each market segment’s attractiveness and selecting one or more segments to enter (2011). It is a critical piece that aids with the segmentation, differentiation, and positioning of the consumer driven marketing strategy. Each member of team b reflected on their personal experiences of market targeting. For example, two team members are mother’s, although the ages of their children vary, each mother at one point was targeted with the age and life-cycle stage from a company like Toys “R” Us. Some companies use the age and life-cycle segmentation, since consumers needs drastically change with age. For Example, Toys “R” Us primarily target babies to teenagers, most likely an adult will not be featured in their flyers that state, “I’m a Toys “R” Us Kid.” As Team B assessed the data of the consumer driven marketing strategy in chapter six...
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...FIRST SEMESTER SESSION 2015/2016 BWBB 3053 MARKETING OF FINANCIAL SERVICES GROUP C GROUP ASSIGNMENT PREPARED BY: TEENISH KUMAR A/L RAMCHANDRAN | 228061 | LIEW YEE CHEN | 228934 | LIM SIEW HONG | 228935 | TAN JIANG MIN | 228936 | RAMANI A/P KANDASAMY | 234478 | LECTURER: ZUNARNI BINTI KOSIM DATE OF SUBMISSION: 29/11/2015 TABLE OF CONTENTS 1.0 Introduction 1 2.0 objectives 2 3.0 marketing strategy 3 3.1 Customer analysis 3-4 4.0 SWOT analysis 4-6 5.0 steps in marketing management strategy 6 6.0 Market segmentation 7 6.1 demographic segmentation 7 6.2 behavioral segmentation 7 6.3 geographic segmentaion 8 7.0 target market selection 8 8.0 positioning and differentiation 9 9.0 marketing mix 10 9.1 product 10 9.1.1 Core services 10-11 9.1.2 Supplementary services-personalize service 11 9.2 Promotion 12 9.2.1 Promotion through online 12 9.2.2 Advertising 12-13 9.3 price 13 9.4 place 14 10.0 CONCLUSION 15 REFERENCE 1.0 Introduction Nowadays, business world is constantly changing and moving due to the advances in technology. To be more competitive among rivals, understanding customers' needs is the priority for most banking institutions. It must be more than just opening a saving account in the bank such as enable customers to do transactions and facilitate their payment access. Customers are always looking for a more conveniently and time-saving method to fasten their transactions effectively and efficiently. Automated Teller Machine(ATM), an electronic banking machine that...
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...Report Title: Marketing the Eco-shack Prepared For: Ms Puan Haslinda Mohd Yunus & Ms Rachael Louis Vincent Victoria University Prepared By: Vivek Satish Chohan (4101946) Pranav Satish Davda (4100233) Date of Submission: 16th May 2013 Tutorial Group: 8 Table of Contents Executive Summary 2 1.0 Introduction 3 2.0 Analysis 4 2.1 Consumer Segmentation 4 2.2 Business Segments 5 2.3 Cost Pricing Approach 7 3.0 Recommendations 8 3.1 BRANDING AND POSITIONING 8 3.2 Alternative Pricing Approach 10 4.0 Conclusion 11 List of reference. 13 Executive Summary The objective of this report is to identify the target market and position the product well in consumers mind so as to increase the sales and market share. For a product to be accepted in the market by consumers, an effective marketing strategy must be implemented. This report is divided into five parts which are introduction of the scenario, followed by identifying the consumer segment, business segment, merits and demerits of cost oriented pricing, branding and positioning and an alternative pricing approach for the eco shack. Behaviour segmentation variable for consumer market is an appropriate way to identify the consumer segment for the Urban- Eco Shack. This process of segmenting the market involves analyzing the behavior of consumers in terms of usage, price sensitivity and the response towards brands. The features of the Urban – Eco-shack can influence the behaviour of the customers...
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...COMPETITIVE MARKET ANALYSIS CHAPTER 3 THE CHANGING MARKET ENVIRONMENT Recession-hit Aga trials green energy Introduction 3.1 A framework for macro-environmental analysis . 3.2 The economic and political environment 3.3 The social and cultural environment 3.4 The technological environment 3.5 Changes in marketing infrastructure and practices 3.6 New strategies for changing macroenvironments 3.7 The Five Forces model of industry competition 3.8 The product life cycle 3.9 Strategic groups 3.10 Industry evolution and forecasting 3.11 Environmental stability 3.12 SPACE analysis 3.13 The Advantage Matrix Summary Case study: Food group shifts strategy to volume growth PART1 MARKETING STRATEGY CHAPTER 1 MARKET-LED STRATEGIC MANAGEMENT Puma gives the boot to cardboard shoeboxes . 4 Introduction 5 1.1 The marketing concept and market orientation 6 1.2 The resource-based view of marketing 12 14 1.3 Organisational stakeholders 1.4 Marketing fundamentals 19 1.5 The role of marketing in leading strategic management 23 Summary 25 Case study: Consumer trust sees John Lewis set retail pace 25 54 54 55 56 57 59 62 64 65 68 71 74 77 79 81 83 84 85 CHAPTER 2 STRATEGIC MARKETING PLANNING Asos founder turns to online homeware Introduction 2.1 Defining the business purpose or mission 2.2 The marketing strategy process 2.3 Establishing the core strategy 2.4 Creation of the competitive positioning 2.5 Implementation Summary Case study: iPhone 27 27 28 29 32 33 42 45 49 49 CHAPTER 4...
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...Introduction The process of marketing involves three key functions viz. market segmentation, targeting, and market positioning. Marketing segmentation concept is closely connected with the marketing mix. Market segmentation involves identifying the basis on which market needs to be segmented. Targeting involves selecting the target for segmentation. Positioning involves developing position to target the segments. Market segmentation is about aggregating prospective buyers into groups that have common needs. The groups that result from market segmentation are called market segments. Meaning / what is marketing segmentation? : Markets consist of buyers, and most often than not, these buyers have heterogeneous preferences. Thus, it is impossible for an organization to serve all these buyers with varied needs. Therefore, the notion of market segmentation is introduced. Market segmentation involves the process of identifying segmentation variables, or bases, and developing profiles of resulting segments. By going after segments instead of the whole market, companies have a better chance to deliver value to consumers and to receive rewards for close attention to consumer needs. Compaq, IBM and IPC are multinational companies that have branches worldwide. This is evident from their websites that cater to people from different countries. Compaq serves over 40 countries including Japan, Korea, Sweden, the United Kingdom, and the United States, just to...
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