Preview

Research Paper

Good Essays
Open Document
Open Document
870 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Research Paper
STRATEGIES AND TACTICS
A marketing strategy requires decisions about the. Specific customers the firm will target and the marketing mix the firm will develop
To appeal to that target market. We can organize the many marketing mix decisions. it is useful to think of the marketing strategy planning process as a narrowing-down process. A key objective of marketing is to satisfy the needs of some group of customers. That the firm serves. Broadly speaking, then, in the early stages of a search for opportunities we’re looking for customers with needs that are not being satisfied as well
As they might be. Of course, potential customers are not all alike. They don’t all
Have the neither same needs nor do they always want to meet needs in the same way.
Part of the reason is that there are different possible types of customers with many
Different characteristics. For example, individual consumers often have different needs than organizations, and people with certain attitudes or interests have different preferences for how they spend their time, what shows they watch, and the like.
In spite of the many possible differences, there often are subgroups (segments) of
Consumers who are similar and could be satisfied with the same marketing mix.
Thus, we try to identify and understand these different subgroups with market segmentation.

NON QUALIFIED AUDIENCE: CLUSTER MARKETTING
As a financial professional, you know how difficult it is to find truly qualified prospects. You can use basic demographic information to target people you would assume to be qualified prospects, but are you truly reaching your best possible audience and most valuable potential clients?

Cluster Marketing
Now Covenant makes finding qualified prospects easy. Covenant gives financial professionals a unique advantage through our cluster marketing platform. Using in-depth psychographic information, we can give you a complete analysis of households in a given area – providing useful information that

You May Also Find These Documents Helpful

  • Better Essays

    McBride financial services should concentrate on the individuals as well as families, who are eligible and can pass the criteria to take a mortgage loan. In addition, the firm can target retirees and other small class executive. Other interested sources for the company are builders, first-time homebuyers, other realtors, etc. who wants a mortgage on low interest rate (Kotle, 2002).…

    • 1266 Words
    • 6 Pages
    Better Essays
  • Good Essays

    Mark2051 Notes

    • 4723 Words
    • 19 Pages

    What is marketing strategy? The process of matching the organisation’s strengths to the customer needs, with the aim of achieving a competitive advantage in the market. The combination of product, price, distribution and promotion most suited to a particular group of consumers. • Goal: the create a sustainable competitive advantage in the market • All the elements of the marketing strategy that lead to the development of the competitive advantage require good understanding of consumer behaviour Marketing strategy process: • 1. Segment: understand consumers a. Determine the dimensions (age, geography, subculture) b. Determine the heterogeneity c. Define the needs & goals 2. Target: choose consumers a. Evaluate each segment in relation to organisational strengths and weaknesses b. Choose the segment with the highest potential for strategic match (organisation strength – customer needs) 3. Position: offer utility differentiate prevent copy a. Designing the company’s offering and image so they occupy a meaningful and distinct competitive position in the target customer’s minds Marketing Levers…

    • 4723 Words
    • 19 Pages
    Good Essays
  • Better Essays

    bus 330 week 5 final

    • 1767 Words
    • 5 Pages

    Once a marketer gets a grip on customers’ needs and wants they must design a marketing strategy. This is done by deciding on target markets and building gainful…

    • 1767 Words
    • 5 Pages
    Better Essays
  • Good Essays

    Toyota Prius Case Study

    • 916 Words
    • 4 Pages

    The marketing strategy specifies the target market that the producer is trying to target for their product and also a related marketing mix. When Toyota was designing the Prius its ideal market to target were leading edge buyers of the technological generation.…

    • 916 Words
    • 4 Pages
    Good Essays
  • Better Essays

    Art Of Getting Customers

    • 1565 Words
    • 12 Pages

    OPEN Forum Growth Guide: The Art of Getting Customers Guy Kawasaki STRICTLY BICYCLES NELSON AND JOANNA GUTIERREZ MEMBER SINCE 01 OPEN Forum: The Art of Getting Customers 1 As any business owner can tell you, acquiring new customers is the driving force behind successfully growing a company. Thirty-five years ago, I started in the fine-jewelry busines, schlepping rings and pendants around the world.…

    • 1565 Words
    • 12 Pages
    Better Essays
  • Satisfactory Essays

    Chaid Analysis

    • 417 Words
    • 2 Pages

    Such customer profile will give the Sales & Marketing Team a clear picture of which…

    • 417 Words
    • 2 Pages
    Satisfactory Essays
  • Best Essays

    ‘Market segmentation is defined as the subdividing of a market into distinct and increasingly homogeneous subgroups of customers’ (FM-A, 2004, p.93) and ‘it centres on the assumption that customers demonstrate heterogeneity in their product preferences and buying behaviour’. (Green, 1977, Wind, 1978, cited in Dibb, 1998, p. 394).…

    • 3302 Words
    • 14 Pages
    Best Essays
  • Powerful Essays

    Aqualisa Quartz

    • 2278 Words
    • 9 Pages

    the marketing strategy and how a company is positioned – what are the target customers and…

    • 2278 Words
    • 9 Pages
    Powerful Essays
  • Good Essays

    Key marketing strategy decision making: How to divide up markets into meaningful customer groups (market segmentation), choose which customer groups to serve (target marketing), and created marketing offers that best serve targeted customers (positioning).…

    • 4014 Words
    • 17 Pages
    Good Essays
  • Satisfactory Essays

    Marketing strategy is designed by segmenting the population, selecting target segments and positioning by reflecting competitive differentiation for an each prospective shop.…

    • 275 Words
    • 2 Pages
    Satisfactory Essays
  • Good Essays

    Marketing and Starbucks

    • 1430 Words
    • 6 Pages

    Marketing strategy is carrying out segmentation, targeting and positioning. Doing the detailed understanding of the marketplace into strategic decisions and the targeting of…

    • 1430 Words
    • 6 Pages
    Good Essays
  • Satisfactory Essays

    This strategy recognises that marketing to a homogenous customer group may not be that effective a strategy for the product the business is selling. Instead the business focuses its marketing efforts on a different selected market segments. That is, identify the needs, wants and interests of the particular market segments and customise marketing techniques to reflect those characteristics.…

    • 227 Words
    • 1 Page
    Satisfactory Essays
  • Powerful Essays

    This is an era of competition if any company wants to sustain in the market they should know the pulses of their customers. That’s Why customers are consider as king. The behaviour of the customer is different for each and every product…

    • 1085 Words
    • 5 Pages
    Powerful Essays
  • Powerful Essays

    Marketing strategy is the long-term plan for developing a marketing mix that will achieve the organization's objectives by meeting the target market's needs. Marketing mix refers to a unique blend of product, distribution, promotion and pricing strategies designed to produce mutually satisfying exchanges with a target market. Distribution is sometimes referred to as place, thus giving us the four P's of the marketing mix: product, place, promotion and price.…

    • 2508 Words
    • 8 Pages
    Powerful Essays
  • Powerful Essays

    Starbucks Case Study

    • 1300 Words
    • 6 Pages

    Income- Customers tend to be urbanites with relatively high income, professional careers and a focus on social welfare.…

    • 1300 Words
    • 6 Pages
    Powerful Essays