There are many well-known marketing websites featuring articles with a similar title - just what is marketing? This is a very good question.
Posts published in “MARKETING PLANNING”
The data suggested in the cultural analysis include information that helps the marketer make marketing planning decisions.
Regular evaluation of the marketing plan will help with reviewing marketing planning process. How to review marketing planning process?
Differentiated Marketing targeting strategy is trying to sell different products to different market segments. Another name is selective marketing.
Niche Marketing is the opposite to Mass Marketing. Niche Marketing targeting strategy includes exploiting one small market segment and be customer-focused.
Mass Marketing is the opposite to Niche Marketing. It is also knows as undifferentiated marketing or market aggregation.
1st do market segmentation, 2nd come up with targeting strategies. Targeting refers to each distinctive market segment having its own specific Marketing Mix.
This article is about psychographic market segmentation. Psychographic factors include lifestyle, hobbies and interests, values and attitudes, social status, culture and personality.
This article is about behavioral market segmentation. Behavioral factors include outlet type, occasions, usage loyalty and benefits sought.
Demographic market segmentation includes age, gender, race and ethnicity, marital status, family size, occupation, income, language and religion.
Geographic market segmentation divides the market into different geographical units. Geographic factors include location, climate and population density.
There is no one correct method to segment a market into smaller pieces. The key task is to find the variable that splits the market into actionable segments.
The whole market consists customers with different preferences. Market segmentation helps to discover people with similar characteristics.
Marketing strategies evolve over time to go along with market changes, changes in customer preferences and changes inside the business organization.
Any marketing strategy of a business organization needs to be cohesive and integrated. Having a cohesive marketing strategy is important.
Marketing managers must be able to use their business acumen to establish different marketing strategies depending on various business situations.