Ad session4

Ad session4

• 1.
  Advertising
• 2.
  Opportunity Analysis Competitive Analysis Target Marketing Identifying Markets Market Segmentation Positioning through marketing strategies Selecting a Target Market Product Decisions Pricing Decisions Channelof Distribution Decisions Promotional Decisions • Advertising • Direct Marketing • Sales • Promotion • Publicity and PR • Personal Selling Ultimate Consumer • Consumers • Businesses Resellers Marketing Strategy and Analysis Target Marketing Process Marketing Planning Program Development Target Market Promotion to final buyer Promotion to Trade
• 3.
   Overall corporatestrategy and serves as a guide for specific marketing program and policies  Based on a situation analysis – detailed assessment of current market conditions
• 4.
  Opportunity Analysis  MarketOpportunities – areas where there are favourable demand trends.  Carefully examining the market place and noting demand trends and competition and various market segments
• 5.
   CompetitiveAnalysis  Carefullyanalysing the competition, direct and in- direct  Marketers must recognize they are competing for the consumer’s discretionary income therefore must understand the various ways potential customers choose to spend their money  Search for the organization’s competitive advantage
• 6.
   A targetmarket is a group of customers a business has decided to aim its marketing efforts and ultimately its merchandise towards.A well- defined target market is the first element of a marketing strategy.
• 7.
  Identifying markets with unfulfilledneeds Determining Market Segmentation Selecting a Market toTargetPositioning through Marketing Strategies
• 8.
   Identifying Markets Marketer identifies the specific the specific needs of group of people or segments, selects one or more of these segments as a target and develop marketing programs directed to each.
• 9.
   Market Segment- a group of customers with a common need  Bases of segmentation  Geographic – by region or area  Demographic – by age, gender, family size, education, income, and social class  Psychographic – by personality, and/or lifestyles  Behavioural - by usage, loyalties, or buying responses  Benefit - by basis of of attributes sought in a product
• 10.
   Determining howmany segments to enter  Market coverage alternatives to consider: ▪ Undifferentiated Marketing –ignoring segment differences and offering just one product or service ▪ Differentiated Marketing – marketing to a number of segments developing separate marketing strategies for each ▪ Concentrated Marketing – firm selects one segment and attempts to capture a large share of this market
• 11.
   Determine whichsegments offer potential  Selecting the most attractive segment – examine sales potential, opportunities for growth, competition, and own ability to compete.
• 12.
   Positioning -Image of the product and or brand relative to competing products or brands
• 13.
   By ProductAttributes and Benefits – based on specific characteristics of the product  By Price/Quality  By Use or Application – specific use or application  By Product Class – rather than position against another brand, position against another product category  By Competitor  By Cultural Symbols
• 14.
   Occurs becauseof declining sales or stagnant sales  Reinvent the identity of the brand
• 15.
   Identify Competitors Assessing Consumer’s Perception of competitors  DeterminingCompetitors’ Position  Analysing Consumer Preferences  Making the positioning decision  Monitor the position
• 16.
   Branding  Packaging Price  Advertising