BTDM PIS

In this meet, we’d like to take the opportunity to delve into the current situation at ___

specifically (problem) and discuss strategies to build our clientele and strengthen our position in the market

after extensive research, our team has concluded

that the best product to implement will be drumroll

these principles will not only contextualize our recommendation but

they will also demonstrate why this approach is the right move for __ moving forward

market identification

strategic process of defining, analyzing, and selecting a specific group of consumers (a target market) most likely to purchase our product. it involves dividing the market into smaller, manageable groups based on

-demographics (age, gender, income, education)

-geographics

-psychographics (interests, hobbies, values, lifestyle)

-behavioral (purchasing habits, brand loyalty, product usage rates)

how to identify our market

conduct market research (surveys, interviews), social media tracking, evaluating competition, creating customer profiles

product mix

refers to the total variety of product lines and individual items a company offers to satisfy different customer needs. it includes both product width and depth.

product width

number of different product lines a company carries

product depth

number of variations offered within a single product line. ex. sizes, colors, flavors, styles

business risk

possibility of financial loss due to factors such as economic changes, competition, operational costs, shifting consumer trends

product/service positioning

how a product is perceived in the mind of consumers based on price, quality, features, and competitive differentiation

corporate brand positioning

how the overall company is perceived based on its values, reputation, and social responsibility

competition

when businesses attempt to win the same target market by offering similar or substitute products

buying behavior

influenced by psychological, social, cultural, and economic factors that impact purchasing decisions

product/service branding

creating a distinct name, design, and identity to differentiate a product from competitors

situation analysis

evaluates a company’s internal strengths and weaknesses and external opportunities and threats to guide marketing decisions.
Strength Weakness Opportunities Threats

marketing strategies

long term plans outlining how a company will reach its target market and achieve competitive advantage

product/service management

developing, improving, managing offerings throughout their life cycle

product life cycle

introduction, growth, maturity, and decline—which impact marketing decisions.

product opportunities

 unmet needs or gaps in the market that create potential for new offerings.

Customer touchpoints

all interactions a customer has with a brand before, during, and after purchase.

ex. website visits, social media interactions, advertising, customer support calls, in-store experiences, billing, and post-purchase survey

motivational theories

physiological, safety, belonging/love, esteem needs, self actualization

brand promise

consistent value and experience a company commits to delivering to customers