Marketing Notes 1/29/12 Market Segment- a group of customers who share a similar set of needs and wants. - Internally Homogeneous ( the same) - Externally Heterogeneous ( the different) A Company 1) Segments a market 2) Targets a Segment 3) Positions brand for that Segment 10/1/2012 Target Market STP Segmenting- analyze market Targeting- pick Positioning- offering product 1) Homogeneous Demand- thinking the product appeals
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necessity of marketing also raised. In the study of Marketing‚ market segmentation is one of the key marketing strategies to look into. This essay is aimed to explain the concept of market segmentation and its benefits as a substitute to a mass marketing approach. Considering successful market segmentation‚ it is vital to go through three activities called STP process that should be undertaken‚ usually sequentially‚ if segmentation is to be successful (Baines et al.‚ 2011). STP process consists
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Sales and Marketing Paper August 24‚ 2009 Intro While sales and marketing are sometimes split into two different areas it is important that these two areas work together to achieve a goal for the lodging industry‚ this goal‚ simply put‚ is to increase revenue. This paper will discuss how the sales and marketing departments work together to achieve this goal‚ and how they differ. Included in the discussion will be the importance of STP (Segmentation‚ Targeting and Positioning) and the
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DIRECT MAREKTING: Direct Marketing Channels Any medium that can be used to deliver a communication to a customer can be employed in direct marketing‚ including: Email Marketing Sending marketing messages through email or Email marketing is one of the most widely used direct-marketing methods.[citation needed] One reason for email marketing’s popularity is that it is relatively inexpensive to design‚ test‚ and send an email message. It also allows marketers to deliver messages around the clock
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7 < Papa Gino’s.. Parle Full Toss.. > Papa John’s Pizza Parent Company Papa John’s Pizza Category Fast food eating joints Sector Food Products Tagline/ Slogan Better ingredients better pizza USP Low cost yet hygienic pizza STP Segment People willing to have a hygienic and delicious non conventional meal at a restaurant Target Group Children and youth from middle and upper class Positioning Most tasty pizzas SWOT Analysis Strength 1.Good brand name and high brand loyalty
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Strategic Marketing Management Assignment 1: Case Report George Smith 12102135 Introduction: In today’s world‚ it is almost a necessity to have access to some form of marketing management in order for a company to be successful. “Marketing is defined as an exchange between a firm and its customers…the customer wants something from the firm‚ and the firm wants something from the customer.” In this case‚ the company ASUS is trying to sell its new PadFone Infinity to the customers they
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necessary to go through all the steps in the marketing planning process. True False 4. A mission statement describes the specific actions a firm will take to achieve its goals. True False 5. iTunes software is often credited for the success of the Apple iPod MP3 player‚ because it made the iPod easier to use than competing players‚ and was difficult for competitors to duplicate. This is an example of a sustainable competitive advantage. True False 6. STP refers to segmentation‚ testing‚ and promotion
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company o Business of the company‚ company’s mission/vision statement‚ set objectives/goals o Long term directions‚ updated to respond to changes in the business environment - Functional Planning: o Functions take some form of planning (HR‚ marketing‚ R&D‚ finance) o Annual plans‚ 3-5 years - Strategic Business Units Planning (for companies with different business lines) o Develop plans for products and markets that they serve o Division of company‚ managed somewhat separately than other
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LONDON SCHOOL OF COMMERCE COLOMBO CAMPUS SRI LANKA MBA FOR EXECUTIVES MODULE ASSIGNMENT : MARKETING MANAGEMENT Student Name: MAHESH UDUGAM KORALALAGE Student Registration No.: 0030nlnl0912 Module Lecturer: Khaldoun Dia-Eddine Module Tutor: Wimarshana Wijesuriya Date Submitted: 25.10.2012 Total Word Count: 2‚121 (Excluding references – Annex 1) “Gillette Fusion ProGlide Power” Razor in Sri Lanka 1. Executive Summary Gillete is the dominant market
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Segmentation‚ targeting and positioning The STP Process is a method by which markets are sub-divided into different segment Successful‚ three activities which include segmentation‚ targeting and positioning‚ all need to take place in a sequence. The STP Process is used more frequently within organisations due to customers’ needs being so diverse‚ the ability to reach specific segments and the increasing commonness of developed markets. The first activity which is market segmentation: enables
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