concepts of management 2: marketing plan

marketing is...

the set of actions aimed at identifying and satisfying the needs and desires of the market by creating a series of strategies that:

-give value to the service or product offered

-build customer relationships

-communicate and promote the product/service

-get the product/service delivered

"market" is the....

exchange of goods and services between individuals (customers, companies, suppliers, etc)

what are the 3 main goals of marketing?

1. create an image of perceived value in the client's mind

2. be more effective than the competitors

3. get an economic benefit

what are the 3 main parts of performing a market analysis?

1. identify the needs and satisfy the wishes of the customers

2. define the type of gods and/or services I will offer to exchange

3. adjust what we are going to offer to the demand we estimate we will have

when we are performing the market analysis, it must be aligned with the company's ________

strategy, business idea, mission, vision, and value

when performing a market analysis, we have to choose the ________ that we are going to address.

the niche market

the segment of people in which you want to place yourself

what is the niche market?

the segment of people in which you want to place yourself

what is the difference of the market segment between general marketing and niche marketing?

general marketing: covers wide market segment including a variety of products and services

niche marketing: focuses on a niche area of any market segment with selective product and services

what is the difference in competition between general and niche marketing?

general marketing: faces more competition

niche marketing: faces less competition

which, general or niche marketing, has less competition?

niche marketing

which, general or niche marketing, is more effective at the initial stage of the product life cycle (PLC)?

niche marketing

which, general or niche marketing, has more chances of customer retention (keeping customers)?

niche marketing

once we decide on a niche, we must determine the....

size of the market.

how do we determine the size of the niche market?

determining:

-number of potential customers

-number of competitors

-turnover of the sector

-to what % corresponds by segment

-how much you can get from that segment

the market analysis gives us an idea of whether my segment has a ______ and if its will be _______ to invest resources in my company

turnover; profitable

after we pick a niche and determine the size of our market, we must establish...

the set of customers that are willing to acquire our product/service. then we must make a forecast of what the evolution of the market will be

what are the different components to the differentiation strategy?

brand image

technological advancement

external appearance

complementary services

(these are all factors that are valued by the consumer)

the specialist strategy focuses on...

very specific needs of a very specific market segment

how do we define our client?

as if it was a specific person with specific characteristics.

-sex

-age

-residency

-country culture/area

-family model

-level of education

-purchasing power

-purchase motivation

-lifestyle

-use of technology

-needs

what is a value proposal?

innovations, services, or features intended to make a company or product attractive to customers

the benefit that your client gets for choosing you and not the competition

what he gets with respect to what it costs him, if he gets more than it costs him or if what he hets is more than what he expected, we will request your services

according the the value proposal, why would a customer choose our services?

if he gets more than it costs him or if what he hets is more than what he expected