Marketing Notes

Segmentation

Targeting

-Product Life Cycle

-Innovation Adoption Curve

Positioning

Differentiation

4Ps: Product Price Place Promotion

Brand

Service

Selling

-Personal Selling

-Direct Marketing

Marketing Strategy

-STP

-Differentiation

-4Ps

-Selling

-Brand

-Service

SWOT

PESTL

4C – Change Competitors Customers Company

Competition

-Porter’s Five Forces

Expansion Strategy

-Ansoff’s Expansion Grid

Market Segmentation

(Dividing market into smaller groups of buyers with distinct needs, characteristics or behaviors who might require separate products or marketing mixes) (Pg 183)

Segmenting Consumer Markets

o Geographic Segmentation (Dividing market into different geographical units such as nations, states, regions, countries, cities or neighborhoods)

▪ Companies are localizing their products, advertising, promotion and sales efforts to fit needs of individual geographical units

▪ Companies are seeking to cultivate as-yet untapped geographic territory

▪ Retailers are developing new store concepts to give them access to higher-density urban areas

o Demographic Segmentation (Dividing market into groups based on demographic variables such as age, sex, family size, family life cycle, income, occupation, education, religion, race and nationality)

▪ Consumer needs, wants and usage rates often vary closely with demographic variables

▪ Demographic variables are easier to measure (e.g. to assess size of target market)

▪ Age & Life-Cycle Stage

• Age & Life-Cycle Segmentation (Dividing market into different age and life-cycle groups)

• Marketers must guard against stereotypes

• Age is often a poor predictor of a person’s life cycle, health, work or family status, needs and buying power

▪ Gender

• Gender Segmentation (Dividing market into different...