© 2007 Pearson Education. Upper Saddle River, NJ, 07458. All Rights Reserved.Mariotti: Entrepreneurship Entrepreneurship Chapter 3 What Is Marketing? Analyzing.

Slides:

Advertisements

Similar presentations

TARGET MARKET AND MARKET SEGMENTATION

Advertisements

Entrepreneurship Mr. Bernstein How to Conduct Effective Market Research, pp October 14, 2014.

Divide & Conquer! Demographic Segmentation The student will be able to...  Define demographics  Discuss the difference between psychographics and demographics.

Introduction To Marketing

ENPI MODULE 2 Research Your Idea WHAT IS MARKET RESEARCH? Market research: an organized way to gather and analyze information needed to make business.

Chapter 8 Market Segmentation, Targeting, and Positioning

Learning Goals Learn the three steps of target marketing, market segmentation, target marketing, and market positioning Understand the major bases for.

“You cannot be all things to all people”

8-1 MARKETING MANAGEMENT Market Segments and Targets.

3.01 A -Product/Service Management

8 Identifying Market Segments and Targets

Chapter 7- slide 1 Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall Chapter Seven Customer-Driven Marketing Strategy Creating Value.

STANDARD 1 OBJECTIVE 1 Students will understand the concept of market & market identification.

Objectives Be able to define the three steps of target marketing: market segmentation, target marketing, and market positioning. Understand the major.

© 2007 Pearson Education. Upper Saddle River, NJ, All Rights Reserved.Mariotti: Entrepreneurship Entrepreneurship Chapter 4 Developing the Right.

Understanding the World of Marketing Market Segmentation.

Brand Strategy Business Process.

© 2007 Pearson Education. Upper Saddle River, NJ, All Rights Reserved.Mariotti: Entrepreneurship Entrepreneurship Chapter 5 Smart Selling and Effective.

Chapter 9 Market Information and Research. Market Segmentation  Way of analyzing your market by certain charactericts to create a target market 1. Demographic.

IDENTIFY AND MEET A MARKET NEED

Identify and Meet a Market Need

Marketing and the Marketing Concept 1.1

Marketing A market is never saturated with a good product, but it is very quickly saturated with a bad one. Henry Ford - Henry Ford Henry Ford.

Compiled by: Gul Sayyar, ACCA-UK

PowerPoint Presentation  Section 6.1  Pages

Basic Marketing Concepts

Intro to Marketing Mr. Bernstein Target Markets and Market Segmentation September 18, 2014.

What’s Happening? 0/09/10-best-lifes-too-short-for-wrong-job.html

Customer –Driven Marketing Strategy Creating value for Target Customer

Global Edition Chapter Seven

© 2007 Pearson Education, Upper Saddle River, NJ All Rights Reserved. Shoemaker, Lewis, and Yesawich: Marketing Leadership in Hospitality and Tourism,

Segmentation, Targeting and Positioning. Divide a market into separate groups.

Entrepreneurship and Small Business Management Chapter 6 Exploring Your Market.

Chapter 11 Marketing Process and Consumer Behavior: Selected topics Prepared By Mostafa Kamel.

Research: The Key to the Venture Concept. Your business will exist in a marketplace of customers and competitors The more you know about your marketplace.

(Chapter 9) Identifying Market Segments and Selecting Target Markets A single product can seldom meet the needs and desires of ___________________ Consumers.

© 2009 South-Western, Cengage LearningMARKETING 1 Chapter 7 COMPETITION IS EVERYWHERE 7-1Focusing on Market Segments 7-2Positioning for Competitive Advantage.

SEGMENTATION AND TARGETING

Sultan Ahmed Topic 05. Sultan Ahmed You would be able to answer the following questions after reading.

Chapter 9 PowerPoint slides Express version Instructor name

Marketing I Curriculum Guide. Product/Service Management Standard 5.

Market Analysis Business Organization and Management Chapter 6.

Who is the target market for each of these systems

Developing a Marketing Plan

What Is Marketing? REVIEW. Objectives Explain why marketing is the business function that identifies customer needs Use marketing to establish your brand.

Basic Marketing Concepts Std. 3. Marketing Concept The idea that you must satisfy a customers’ needs and wants in order to make a profit. Businesses must.

©2006 Pearson Education, Inc. Marketing for Hospitality and Tourism, 4th edition Upper Saddle River, NJ Kotler, Bowen, and Makens Chapter 8 Market.

IDENTIFYING MARKET SEGMENTS AND SELECTING TARGET MARKETS

Ch. 6: Market Research A business must satisfy the __________of its customers to succeed To find out what customers need/want – Businesses conduct __________.

D. Marketing a Small Business 6.00 Explain the fundamentals of marketing in a small business Explain market identification.

Entrepreneurship Chapter 5 Developing the Right Marketing Mix.

7 Market Research Section 7.1 What Is Market Research?

The Marketing Concept Implementing the Marketing Strategy.

Entrepreneurship CHAPTER 6 SECTION 1.  You cannot satisfy customers if you do not know who they are or what they want.  Industry – businesses that are.

1 Session 6 Market Segmentation, Targeting, and Positioning.

7 Identifying Market Segments and Targets

Segmentation, Targeting, and Positioning Building the Right Relationships with the Right Customers Chapter 7.

Basic Marketing Concepts

Chapter 4 Exploring Your Market

8 Identifying Market Segments and Targets

Market Shares Not to be confused with the stock market, although there are connections.

Assessing the viability of business ideas

MARKETING MANAGEMENT 12th edition

8 Identifying Market Segments and Targets

5.02 Explain product positioning

3.01 A -Product/Service Management

5.02 Explain product positioning

Chapter 1 Entrepreneurs Recognize Opportunities

Understanding Product/Service Positioning

Presentation transcript:

© 2007 Pearson Education. Upper Saddle River, NJ, All Rights Reserved.Mariotti: Entrepreneurship Entrepreneurship Chapter 3 What Is Marketing? Analyzing Customers and Your Market

© 2007 Pearson Education. Upper Saddle River, NJ, All Rights Reserved.Marriotti: Entrepreneurship What Is Marketing? Satisfying the customer at a profit The business function that identifies your customers and their wants and needs The engine that drives ALL business decisions

© 2007 Pearson Education. Upper Saddle River, NJ, All Rights Reserved.Marriotti: Entrepreneurship Features Create Benefits Feature—fact about a product or service Benefit—what the feature can do to meet a customer’s need Smart marketers emphasize benefits, not features.

© 2007 Pearson Education. Upper Saddle River, NJ, All Rights Reserved.Marriotti: Entrepreneurship Visualize Your Customer Use market research to find out: Who your customers are -income -age -location Where you can find them What they want and need

© 2007 Pearson Education. Upper Saddle River, NJ, All Rights Reserved.Marriotti: Entrepreneurship 4 Types of Market Research 1.Surveys and focus groups—interview people about your business 2.General research—libraries, internet, chamber of commerce 3.Statistical research—facts presented as numbers. Consumer statistics are called demographics. 4.Industry research—trends, growth, etc.

© 2007 Pearson Education. Upper Saddle River, NJ, All Rights Reserved.Marriotti: Entrepreneurship Research Market Before Opening Your Business Be open to criticism Focus your brand—find the one benefit you want to market to customers Ford’s Edsel—lacked focus, too many features, failure Ford Mustang—tightly focused on target market (20–30-year-olds), success

© 2007 Pearson Education. Upper Saddle River, NJ, All Rights Reserved.Marriotti: Entrepreneurship Build Your Brand 1.Business name 2.Logo 3.Reputation 4.Brand personality 5.Communicate brand to target market

© 2007 Pearson Education. Upper Saddle River, NJ, All Rights Reserved.Marriotti: Entrepreneurship 7 Ways to Build a Great Brand 1.Provide high-quality product/service 2.Maintain high ethical standards 3.Define product/service clearly 4.Treat employees well 5.Make ads positive and informative 6.Associate company with a charity 7.Be involved in community

© 2007 Pearson Education. Upper Saddle River, NJ, All Rights Reserved.Marriotti: Entrepreneurship Market Segmentation Market segment = consumers who have similar response to a certain type of marketing Segmentation methods Geographic Demographic Psychographic Behavioral

© 2007 Pearson Education. Upper Saddle River, NJ, All Rights Reserved.Marriotti: Entrepreneurship Product Life Cycle (PLC) 1.Introduction 2.Growth 3.Maturity 4.Decline 5.Where is your product/service in the PLC? Is your market saturated? 4 stages

© 2007 Pearson Education. Upper Saddle River, NJ, All Rights Reserved.Marriotti: Entrepreneurship Market Positioning Distinguish your product/service from others offered to your market segment. Goal: clearly communicated how your product/service differs from competitors. Positioning statement: Ex: (General Motors) is the (leading US automobile maker) that (provides affordable cars) to (American families)