Marketing principles
Marketing as selling has two main concepts, which are making profit much as possible and satisfying customer’s need. Before making any profit. A well-managed company is able to identify and specify itself. That includes making targets for its ideal customer. Analysis and strategies help the company in achieving a higher possibility for success in the business.
Segmentation methods
Segmentation involves diving a broad target market into subset of consumers who have common needs and priorities. A theory in psychology proposed by Abraham Maslow describing the stages of human needs, called Maslow’s hierarchy of needs
Segmentation helps businesses in finding an approach to develop product strategies. Marketers can segment by dividing markets into different groups:
Geographic -nations, states, regions, countries, languages, cities, neighborhoods, or postal codes.
Demographic - age, gender, the amount of income, the ethnicity or religion of the market and the family life cycle
Psychographic – it consider how the consumers spend their leisure so called lifestyle
Benefits – economic benefits by the consumer
Behavior –consumers’ loyalty
Macro- and micro- environmental
Environment, customers, and competitors. Both the macro (Internal)-environmental factors that affect many firms within the environment. Environment are politicial, natural forces, cultural, legal and technological factors. Only big companies may have a big influence on the environment, for example Google, Facebook, and YouTube. The micro(external)-environmental factors that specifically affect the firm, that means the manager can utilize the company’s system.
Situation analysis
Include past, present, and future aspects to evolved its present state to understand its business capabilities.
5 C Analysis
Common way to analyze the market environment to allow business to gain more information of the internal, macro-environmental and micro-environmental factors.
Segmentation methods
Segmentation involves diving a broad target market into subset of consumers who have common needs and priorities. A theory in psychology proposed by Abraham Maslow describing the stages of human needs, called Maslow’s hierarchy of needs
Segmentation helps businesses in finding an approach to develop product strategies. Marketers can segment by dividing markets into different groups:
Geographic -nations, states, regions, countries, languages, cities, neighborhoods, or postal codes.
Demographic - age, gender, the amount of income, the ethnicity or religion of the market and the family life cycle
Psychographic – it consider how the consumers spend their leisure so called lifestyle
Benefits – economic benefits by the consumer
Behavior –consumers’ loyalty
Macro- and micro- environmental
Environment, customers, and competitors. Both the macro (Internal)-environmental factors that affect many firms within the environment. Environment are politicial, natural forces, cultural, legal and technological factors. Only big companies may have a big influence on the environment, for example Google, Facebook, and YouTube. The micro(external)-environmental factors that specifically affect the firm, that means the manager can utilize the company’s system.
Situation analysis
Include past, present, and future aspects to evolved its present state to understand its business capabilities.
5 C Analysis
Common way to analyze the market environment to allow business to gain more information of the internal, macro-environmental and micro-environmental factors.