Introduction to Marketing

In: Business and Management

Submitted By syfulmalik321
Words 1143
Pages 5
Introduction to marketing

L/O: 3

Learner’s Name: Md. Syful Islam

ID NO: 2012226005.

Assessor: Mr. Khwaja Arafat Abdullah

P (5)

Consumer market segmentation

Segmentation is all about indentifying common needs and buying behavior within a market. The most general categories to consider when segmenting market are * Geographic – the location of your customers. This might split down to national or regional boundaries or whether your customers live in urban or rural area * Psychographic- lifestyle or beliefs for example if your product has environmental benefits, you might identify customer segment that is concerned for the environment * Socio-cultural- class (this may also include income, education and so on). * Demographic- Age, sex and so on.
The concept of segmentation applies equally to both consumer and businesses markets but the bases by which they are segmented differ.

Business to business market segmentation

* Size -The size of a business will make a difference to the way which it views it suppliers and goes about this purchasing. A large business may need more specialized financial advice. In a very large organization, there may be many people involved in the buying decision and the procedure may be very complex because of the risks and level of investment that may be involved. A small business, however, may have just one or two people in the decision making process

* Value-The value of the business is also important criterion by which it may be segmented. If the business always makes high value purchases, then these businesses may need a different type of approach by the selling business

Grameenphone Ltd consumer market segmentation

Grameenphone has its different services by targeting different consumer group. They offer various many packages for various kind of customer. Here I would talk about…...

Similar Documents

Introduction to Marketing

...MARKETING (WH) {MKTG} L/R 101. Introduction to Marketing. (C) Niedermeier. The objective of this course is to introduce students to the concepts, analyses, and activities that comprise marketing management, and to provide practice in assessing and solving marketing problems. The course is also a foundation for advanced electives in Marketing as well as other business/social disciplines. Topics include marketing strategy, customer behavior, segmentation, market research, product management, pricing, promotion, sales force management and competitive analysis. 211. (MKTG773) Consumer Behavior. (C) Cutright, Reed. Prerequisite(s): MKTG 101. This course is concerned with how and why people behave as consumers. Its goals are to: (1) provide conceptual understanding of consumer behavior, (2) provide experience in the application of buyer behavior concepts to marketing management decisions and social policy decision-making; and (3) to develop analytical capability in using behavioral research. 212. (MKTG756) Marketing Research. (C) Shen, Eliashberg. Prerequisite(s): MKTG 101, STAT 101. Students are highly encouraged to take statistics in the semester immediately preceding this course. This course examines the role of marketing research in the formulation and solution of marketing problems, and the development of the student's basic skills in conducting and evaluating marketing research projects. Special emphasis is placed on problem formulation, research design, alternative......

Words: 6959 - Pages: 28

Marketing an Introduction

...MARKETING MANAGEMENT - SUMMARIES PART 1 UNDERSTANDING MARKETING MANAGEMENT Chapter 1 – Defining marketing for the 21st Century Marketing is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders. Marketing management is the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value. Marketers are skilled at managing demand: they seek to influence its level, timing, and composition for goods, services, events, experiences, persons, places, proper- ties, organizations, information, and ideas. They also operate in four different marketplaces: consumer, business, global, and nonprofit. Marketing is not done only by the marketing department. It needs to affect every aspect of the customer experience. To create a strong marketing organization, marketers must think like executives in other departments, and executives in other departments must think more like marketers. Today’s marketplace is fundamentally different as a result of major societal forces that have resulted in many new consumer and company capabilities. These forces have created new opportunities and challenges and changed marketing management significantly as companies seek new ways to achieve marketing excellence. There are five......

Words: 7049 - Pages: 29

Introduction to Marketing

...) Unit3. Introduction to Marketing - Assignment Brief For this assignment you will be required to research the marketing activities of organisations. In the first two parts of the assignment you will need to focus on how marketing techniques are used in two different organisations. The second part of the assignment will look at how market research impacts on the marketing plan of a specific organisation. Finally, you will need to look at the development of a coherent marketing mix targeted at a defined group of potential customers. M1 D1 P1 Task 3.1 Scenario You work for a large marketing agency that consults for a variety of businesses on the marketing activities that they undertake in order to promote their products or services. Your marketing agency has a varied portfolio of clients and you have been given the task of consulting for one business that operates in the private sector and one in the public or voluntary sector. Choose your two businesses remembering that: one must be from the private sector, for example, Marks & Spencer one must be from the public or voluntary sector, for example, Oxfam. For each business, you will need to research the marketing techniques it has used in order to market one product. These techniques might include: growth strategies survival strategies branding relati onship marketing. For each business: * P1. describe the marketing techniques used to market products ( 200 words ) * M1. compare the marketing......

Words: 749 - Pages: 3

Introduction to Marketing

...MARKETING FOR MANAGERS MAR601-6 SEMESTER 1 DATE- 16/06/2014 FROM- ADITYA MISHRA TO- Rosemary Burnley INDEX | TOPICS | PAGE.NO | 1 | INTRODUCTION | 3 | 2 | PRODUCTION AND SELLING CONCEPT | 4 | 3 | SOCIETAL MARKETING CONCEPT | 5 | 4 | CONCLUSION | 6 | 5 | REFERENCES | 6 | STUDENT NUMBER | SURNAME | FORENAME | SEMINAR PAPER NUMBER | 1325080 | MISHRA | ADITYA | 1 | Introduction In today’s world, production marketing as well as societal marketing has a vital impact on company’s profitability. Production marketing means companies launches new product in time interval for target consumer. On the other hand, societal marketing means companies launches new product for long term by looking consumer benefit towards product. Some of the companies use production marketing whereas some uses societal marketing depends upon the companies and market situations. For example, cosmetic companies such as L’Oreal, lakme might launch their new product in every 6 months. However, Anti Smoking companies launch new product on customer welfare and demand. These rising demands of product companies come to know by survey and other marketing plans. Societal marketing holds consumers wants interest and needs for long term. These are moral and ethical concept of marketing. It was introduced by Philip Kotler,”what consumerism means for marketers” in the Harvard Business Review Journal. His aim was to “long run consumer interest” ,stressing that the short......

Words: 1086 - Pages: 5

Introduction to Marketing

...Introduction to marketing- Infinti Caste study: 1- the marketing mix is marketing tool used by various firms in order to meet the needs and wants of the consumer. It contains four main components, product, place, price and promotion also known as the four P’s. There’s an additional three P’s which are people, positioning and packaging. The mix also relies on various factors such as competitors and market research. 2- Within promotion of a product or service there are various techniques used by companies to communicate with their target audience, such as above and below the line promotion. Above the line promotion is used to advertise their product to a mass audience using tools such as the mass media and online advertising. However below the line promotion focuses on their target consumer and not so much the mass public. Below the line promotion is more likely to be seen closer to the point of sale on a much smaller scale. A further difference to these types of promotion is that above the line promotion generally used by larger firms as it is more costly whereas below the line promotion is seen to be more cost effective. 3- Redbull is one of the largest international businesses and are known for the exciting brand image and for their sponsorship tactics.  Red Bull's international marketing campaign mainly aims at young men and extreme sports. These can be anything from mountain biking, BMX, motocross, windsurfing, snowboarding, skateboarding,......

Words: 707 - Pages: 3

Marketing Introduction

...1 1 Defining Marketing for the 21st Century What is Marketing? Marketing is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders. Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-2 What is Marketing Management? Marketing management is the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value. Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-3 What is Marketed? • Goods (products) • Services • Events • Experiences • Persons • Places • Properties • Organizations • Information • Ideas Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-4 Marketing Can Promote Ideas 1-5 Selling is only the tip of the iceberg “There will always be a need for some selling. But the aim of marketing is to make selling superfluous. The aim of marketing is to know and understand the customer so well that the product or service fits him and sells itself. Ideally, marketing should result in a customer who is ready to buy. All that should be needed is to make the product or service available.” Peter Drucker 1-6 The Basic Profit Equation Profit = Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-7 The Basic......

Words: 594 - Pages: 3

Introduction to Marketing

...M3: Develop a coherent marketing mix that is targeted at a defined group of potential customers. What is marketing mix? The marketing mix is a set of strategies to achieve an organisations objectives and satisfy customers’ needs The marketing mix is included of the 4 P's which are Product, Place, Price and promotion which work in together to achieve their maximum potential. It is important that all the P's in a marketing mix are consistent with one another otherwise it can affect the whole marketing mix. For example a marketing mix which has an effective Product, Place and Promotion but an incorrect price can affect the sales and overall success of a product. The objective of marketing mix An objective of a marketing mix is to help support the building of brands using the 4 P's as a strategy. An effective marketing mix will increase brand awareness and a strong brand allows businesses to make more effective marketing strategies. Another objective of a marketing mix is to focus the 4 P's on fulfilling the needs of customers in the target market. If all 4 P's in a marketing mix satisfies the target market, the product has an increased chance of success. I’m going to develop a new IPhone 7, the phone is aimed to attract customers aged 13- 30. Marketing mix -The marketing mix is commonly used marketing term. Price is the amount of money consumers have to pay to buy the product. This can vary considerably. Place labels where and how the consumer can obtain the product.......

Words: 353 - Pages: 2

Introduction to Marketing investigation which done by the marketing. In this report we discuss about the restaurant Organic Green which is currently facing some problems. In first two portion of the report the problems are being found and comparison with other methods is given and in other two portions the solution is given from those methods So that the business can again run successfully in all the sectors. Table of content Contents Executive summary 2 Table of content 3 Introduction 5 1.The role of marketing for the group’s business and the way it can build a marketing strategy. 6 2.The market segmentation and market positioning that restaurants may choose. 9 3.The options available for addressing each of the ‘4 Ps’ in the marketing mix: 11 4. Restaurant’s current position and what work should be undertaken to improve it. 16 Conclusion 17 Reference 18 Introduction Organic Green is a chain of six specialized restaurant which is located in different places. This restaurant has strong positioning in earlier but due to some strong competition it is gradually losing its business. Organic Green needs to modify total strategy in order to beat the competitors. First it needs to identify its problem. Than find the solution. As a marketer I am finding the problem and solutions. 1. The role of marketing for the group’s business and the way it can build a marketing strategy. Role of marketing In order to operate a group......

Words: 3873 - Pages: 16

Introduction to Marketing

...Task: Describe how marketing techniques are used to market products/ services in two organisations. MARKETING… MARKETING… The role of marketing | Page: 2-3 | Marketing objectives for Tesco | Page:4 | Marketing techniques used by Tesco | Page: | Marketing objectives for Oxfam | Page: | Marketing techniques used by Oxfam | Page: | THE ROLE OF MARKETING THE ROLE OF MARKETING What is marketing? Marketing is the social process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others. Marketing is about identifying and understanding your customer and giving them what they want. It's not just about advertising and promoting your business. Effective marketing is a result of examining every aspect of your business and how it affects the consumer's end experience. Marketing covers everything you'll need to do in order to deliver your products and services to the consumer including research, planning, pricing, packaging, promotion, selling and distribution. Ansoff’s matrix One way of analysing the various strategies that an organisation may use to grow the business is with Igor Ansoff’s (1965) matrix. This considers the opportunities of offering existing and new products within existing and/or new markets and the levels of risk associated with each. This matrix suggests four alternative marketing strategies: 1. Market penetration - involves selling more established products......

Words: 1431 - Pages: 6

Marketing: an Introduction

...Debra Priest | Marketing: An Introduction | Assessment Task 1 | | Outcome 1 & 2 | This Unit is made up of two learning outcomes listed below: This Unit is made up of two learning outcomes listed below: 1. Explain the role of marketing in different types of organisation 2. Explain the importance of different types of marketing research | Contents 1. Identify three key characteristics of the marketing concept (150 words) 2. Explain Britvic’s micro and macro environment (100 words) 3. Explain why market research and the information gathered are important to an organisation like Britvic (150 words) 4. Explain how Britvic might collect and use market research information. Include one quantitative and one qualitative research technique in your response (150 words) 5. Explain the process of market segmentation and targeting and the benefits of segmentation and targeting to Britvic (150 words) 6. Explain marketing theory in relation to each of the 4 P’s. Explain the factors that would affect how Britvic might decide on their choice of each of these items (600 words) a. Product mix and individual products b. Distribution channels c. Pricing methods d. Promotional methods 7. In marketing a service, explain the importance of:......

Words: 2479 - Pages: 10

Introduction to Marketing

...MKT 111 EXAM 1 I) Chapter 1: Introduction to Marketing A) What is marketing? (pg 5) 1) Marketing is managing profitable customer relationships 2) The process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return B) Understand core marketing concepts (pgs 6-8) 3) Customer needs (a) Needs: States of felt deprivation (b) Wants: The form human needs take as they are shaped by culture and individual personalities (c) Demands: Human wants that are backed up by buying power 4) Offerings (d) Market offerings: Some combination of products, services, information, or experiences offered to a market to satisfy need or want 5) Customer value and satisfaction 6) Exchange (e) Exchange: The act of obtaining a desired object from someone by offering something in return C) Understand customer relationship management (pg 13-14) 7) Customer (perceived) value (f) The customer’s evaluation of the difference between all the benefits and all the costs of a marketing offer relative to those competing offers 8) Customer satisfaction (g) The extent to which a product’s perceived performance matches a buyer’s expectations D) Capturing value from customers (slides) 9) Customer lifetime value, loyalty etc ...

Words: 1755 - Pages: 8

Introduction to Marketing

...QCF BTECAssignment front sheet | Qualification | Unit number and title | BTEC Level 3 90 credit Diploma in Business | 3 Introduction to Marketing | Learner name | Assessor name | | Julie Flavell | Date issued | Hand in deadline | Submitted on | | | | | | Assignment title | Market Segmentation | In this assessment you will have opportunities to provide evidence against the following criteria. Indicate the page numbers where the evidence can be found. | Criteria reference | To achieve the criteria the evidence must show that the learner is able to: | | Task no. | | Evidence | P5 | Explain how and why groups of customers are targeted for selected products | | 1 | | | P6 | Develop a coherent marketing mix for a newproduct or service. | | 2 | | | M3 | Develop a coherent marketing mix that is targeted at a defined group of potential customers. | | 2 | | | Learner declaration | I certify that the work submitted for this assignment is my own. I have clearly referenced any sources used in the work. I understand that false declaration is a form of malpractice.Learner signature: Date: | Assignment brief Qualification | BTEC Level 3 90 credit Diploma in Business (Business Pathway) | Unit number and title | 3 Introduction to Marketing | Assessor name | Julie Flavell | Date issued | 27.11.15 | Hand in deadline | 18.12.15 | | Assignment......

Words: 890 - Pages: 4

Introduction to Marketing

...Introduction to Marketing Carl Loraine Cruz – 20154176 Task 1: The organization that I am going to work for is New Raven Manufacturing Co. Ldt.. New Raven Manufacturing Co. Ldt is a Spanish clothing corporation and manufacturer that is owned by a Filipino business woman. I am going to concentrate on the organization's product or brand name Nuevo Ropa, and I am going to compare this product to Stickeez, a printing company here in Dubai, United Arab Emirates. Here’s brief information about the products that I am going to use: Nuevo Ropa means new clothing in Spanish. We chose this word because it is unique and it sounds fabulous. This is the new and easy way to trend yourself and build a new appearance that will wow everybody. With the help of Nuevo Ropa, we change the old you, to a more fabulous you. FUN, because DIY is all about the satisfaction and creation of new things. That's what Nuevo Ropa is all about. Do it yourself and that’s what makes us different and unique from other clothing companies. We are unique and our system that you made from raw materials lovingly finished provides enjoyment and satisfaction that no other clothing store will ever give. Nuevo Ropa is all about you. Stickeez is a T-shirt printing business here in Dubai which is owned by a Filipino Graphic Designer. It launched last 2012. They’re printing on 100% Cotton shirt, with a wide variety of logos and designs from their series collections to choose from. Stickeez also accepts your......

Words: 4069 - Pages: 17

Introduction to Marketing

...[pic] [pic] FOUNDATION DEGREE IN BUSINESS Assessment Front Sheet | |Course: |FdA Business | | |Year: |Year 1 | | |Unit Title: |Introduction to Marketing | | |Unit Code: |MKS-1-110 | | |Level: |4 | | |Value: |15 Credits | | |Assessment Number: |1 of 3 | | |Assessment Method: |Coursework | | |Assessment Weighting: |25 % | | |Lecturer: |Mary Dolan | | ...

Words: 1928 - Pages: 8

Introduction to Marketing

...Introduction to Marketing Dahlia El-Manstrly Department of Management Marketing Concepts . Marketing dynamics . Consumer behaviour . Market segmentation . Marketing mix . Customer relationship management Marketing definition 'The management process responsible for identifying, anticipating and satisfying customer requirements profitably' (CIM) 'satisfying needs and wants through an exchange process' (Kotler,2009) Dissatisfied customers can tell up to eleven other people about their bad experiences, which is two to three times more people than a satisfied customer will talk to. Smith, 1993 Consumer Behaviour- Customers How do they buy? What are their choice criteria? Who is important? Where do they buy? When do they buy? D Jobber, Principles and Practice of Marketing, . 1998 McGraw-Hill Consumer Behaviour Cont. .What do customers wants? .Functional Value .Social Value .Emotional Value .Epistemic Value .Conditional Value .What role (s) do customers play? .Customer as a user .Customer as a buyer .Customer as a payer Decision making process I’m hungry Problem recognition What’s available? Information search Fruit or chocolate? Information evaluation Chocolate! Decision I should’ve had fruit. Post-purchase evaluation How do consumers make a purchase decisions? High involvement: the Fishbein and Ajzen......

Words: 595 - Pages: 3