november 11, 2010. definition of marketing purpose of marketing marketing concept 7 functions of...
TRANSCRIPT
Previously…Definition of
Marketing
Purpose of Marketing
Marketing Concept
7 Functions of Marketing
1. Channel Management
2. Financing
3. Marketing Information Management
4. Pricing
5. Product / Service Management
6. Promotion
7. Selling
Includes marketing research
You can’t sell your product if you don’t know who your customers are!
Marketing research is used for market segmentation, the process of classifying customers in a market into smaller groups.
Marketing Info Management
Stand Up!Push in your chair.
Line up in the middle of the classroom, from the front to the back. Order does not matter.
Listen for instructions
Move to the FRONT of the room if…
You consider yourself to have more traditional tastes. You know what you like, and you stick with it.
Move to the BACK of the room if…
You consider yourself to have trendier tastes. You like change, and you look for a fun or modern appeal.
Move to the LEFT side of the room if…
You are a health-conscious eater.
Move to the RIGHT side of the room if…
You prefer to eat what tastes good.
Marketing Cereal Brands
CheeriosSpecial K
Raisin BranTotal
Frosted FlakesRice KrispiesFroot LoopsMini-Wheats
KashiHoney
BunchesLife
Organic Cereals
Lucky CharmsCookie CrispCap’n Crunch
Cinnamon Toast Crunch
Healthy TastyTr
ad
itio
nal
Tren
dy
Back to Center!Line up in the middle of the classroom, from the front to the back. Order does not matter.
Listen for instructions
Move to the FRONT of the room if…
You prefer the busy, fast pace life of the city.
Move to the BACK of the room if…
You prefer the calm, laid back pace of the country.
Move to the LEFT side of the room if…
You prefer warm weather.
Move to the RIGHT side of the room if…
You prefer cold weather.
Marketing Vacation Trips
FloridaNevada
California
WashingtonNew York
Illinois
TexasCalifornia
ColoradoMaine
Warm ColdC
ity
Cou
ntr
y
Market SegmentationClassification of
customers by wants and needs
Creates smaller, more precise target markets
What is a Target Market?Group of people
identified as the most likely to become customers
These are the people a business wants to reach with their goods or services!
Definition
Refers to statistics that describe a population in terms of personal characteristics
AgeGenderIncomeMarital StatusEthnic
BackgroundEducationOccupation
Demographic
Examples
Definition
Grouping people with similar lifestyles
Grouping people with shared attitudes, values, opinions
ActivitiesAttitudesPersonalityValues
Psychographic
Examples
Definition
Involves looking at the benefits desired by consumers, at shopping patterns, and at usage rates
Sometimes referred to as Product Benefit segmentation
Teenagers spend about $50 a month on entertainment.
Teenage girls spend 15% more on music than teenage boys.
Today’s young adults desire affordable luxuries.
Behavioral
Examples
On your handout, decide if each item is:
oDemographic
oGeographic
oPsychographic
oBehavioral
Label each with a D, G, P, or B.
See What You Know!
Where have you seen or completed a survey like this before?
How can marketers use this information?
How else can businesses collect this kind of information from customers?
Let’s Talk About It!
Market segmentation characteristics help to create customer profiles.
A customer profile is a list of information or common characteristics about a target market.
Customer Profiles