Topik 8 Marketing Plan PDF
Topik 8 Marketing Plan PDF
What Is Marketing?
Marketing is a process by which companies crea
te value for customers and build strong customer
relationships to capture value from customers in r
eturn
Core Concepts
6
TARGET MARKETING PROCESS
WHO TO SERVE ?
3 STEPS (STP):
1.Segmentation
2.Targeting
3.Positioning
7
STP
• Market segmentation: dividing market into distinct grou
ps which will require separate marketing mixes
• Target marketing: choosing which group(s) to appeal to
• Market positioning: creating a clear, distinctive position i
n the consumer’s mind relative to competition
8
Consumer Market Segmentation
• Geographic: • Psychographic:
• Regions • Social class
• Size/density • Lifestyle
• Climate • Personality
• Demographic: • Behavioral:
• Age/generation • Occasions
• Gender • Benefits
• Family size/life-cycle • User status
• Income • Usage rate
• Occupation • Loyalty status
• Religion • Readiness state
• Ethnic origin • Attitude toward product
9
Geographic Segmentation
• Divide markets into different geographic units.
• Examples:
• World Region or Country: Middle East, South Asia or Pakistan, India etc.
• Country Region: Punjab, KPK, Sindh, etc.
• City or Metro Size: Lahore, Karachi.
• Population Density: rural, suburban, urban
• Climate: northern areas, southern, tropical
10
Demographic Segmentation
• Use Differences in:
• age, gender, family size, family life cycle, income, oc
cupation, education, race, and religion
11
Psychographic Segmentation
12
13
Behavioral Segmentation
• Occasion • Loyalty Status
• Special promotions & lab
• Nonusers, ex-users, pot
els for holidays.
ential users, first-time u
• Special products for spec sers, regular users.
ial occasions.
14
15
16
Requirements for Effective Segmentation
• To be useful, market segments must be:
• Measurable:
• Size, purchasing power, and profiles can
be measured
• Accessible:
• Segments can be reached
• Substantial:
• Large enough to be profitable
“Lefties” are hard to ident
ify and measure, so few fir • Actionable:
ms target this segment.
• Programs can be developed to attract an
d serve the segments
6-17
Target Marketing Strategies
18
Undifferentiated Marketing
(Mass Marketing)
19
Differentiated Marketing (Segment Marketing)
• Develops one or more products for each of
several customer groups with different pro
duct needs
• Coca-Cola (Coke, Sprite, Diet Coke, etc.)
• Procter & Gamble (Tide, Cheer, Gain, Dreft, etc.)
• Toyota (Camry, Corolla, Prius, Scion, etc.)
20
Concentrated Marketing
(Niche Marketing)
• Entails focusing efforts on offering one or
more products to a single segment
• Useful for smaller firms that do not have th
e resources to serve all markets
• Niches have very specialized interests
21
Micro Marketing
• Local Marketing
• Individual Marketing (one-to-one Marketing)
22
Positioning
The place a product occupies in consum
ers’ minds relative to competing prod
ucts.
23
Positioning Example
24
MARKETING OBJECTIVES
Vision
Mission
1. Mission is a statement which defines the role that an or
ganization plays in a society.
2. Purpose or reason for the organization’s existence 25
MARKETING OBJECTIVES
Goals
Objectives
26
MARKETING OBJECTIVES
27
MARKETING OBJECTIVES
Objectives must confirm to SMART criteria
E.g. “ Capture 5% of the detergent market in Colombo within the first year of o
peration”
Specific – stating exactly what has to be achieved: E.g. Capture
market of Colombo for detergents
Measurable- Quantified, so that you can measure with results
achieved: E.g. 5 % of the market share
Achievable – The objective has to be realistic in the given
circumstances. Achieving target of 5% of the Colombo market
may be possible
Relevant – The objective must relate to the corporate objectives:
E.g. Be a major player in the detergent market
Time frame – Deadlines and time frames for achieving the
objectives must be stated: E.g. within the first year of operation
28