Marketing Flashcards
Types of marketing
Mass - no segmtn
Differentiated - range of products for range of segs
Niche - concentrate on 1-2 segs
Micro - complete segmtn, tailored to indv
Stages of market segmentation
- Market research
- Market segmentation
- Market targeting
- Product positioning
To chose a market set to target, you use…
MASS D Measurable Assessable Stable Substantial Defensible
Positioning
the location fo a product in a buyer’s mind comp other products
re-positioning = changing
Marketing mix
Product (QP BAPS)
Price (4Cs)
Place (SNAIL)
Promotion (SAPP)
Marketing mix: Product
QP BAPS Quality Packaging Branding Aesthetics Product mix Servicing
Marketing mix: Price
4C's "Price mix" Cost Customer Competitors Corporate strategy
Marketing mix: Place
SNAIL Size Number Accessibility Inventory Layout
Marketing mix: Promotion
SAPP Sales Advertising Public relations Personal selling
Service Mix
People
Process Physical
- combine w/ marketing mix = 7Ps
Price elasticity of demand
a measure of responsiveness of quantity demanded to change the price of the good
Stages in market research
- define problems + set objectives
- data collection: desk + field research
- analysis
- recommendations
Desk research
gathering existing/’secondary’ data from internal and external sources
~ cheaper and quicker
Field research
new/’primary’ information direct from respondents
~ more relevant
Cowboy brands
excessively priced brand for the quality of the product
