How does the type of buyer or consumer affect marketing strategy? As part of your response, consider the characteristics of buyers and the factors that influence their purchasing decision. How can an organization ensure that their market strategy is appropriate for their target market? MKT 421 Marketing Week 3 DQ
In conclusion, marketing research is an essential part of Kudler Fine Foods’ ongoing success. Research aids in the development of marketing strategies and tactics. Part of the marketing research is to conduct competitive marketing intelligence so that the big picture can be compiled and analyzed. When all the data is collected and presented in a logical manner intelligent decision can be made. Intelligent decisions save Kudler money and
Summarise what steps you will have to take to market your business. Marketing is the management process which identifies customer needs, anticipates their future needs and then goes about satisfying them profitably. Also marketing is really about getting the right product to the right people at the right price at the right time. This is important to my business because it is essential for me to get my marketing right. As a business having a right product means having something which will sell also having a competitive price for a product meaning not an overpriced
What effect did the product life cycle have on the product in the simulation? The product lifestyle cycle allows for the customer to buy into the products image and product. The simulation allowed me to develop and enhance marketing ideas, and examine what was important to the customer. The perceptual map made the marketing strategy visual and making certain valued elements relevant for customer perception. What is the relationship between differentiation and positioning of products or services?
The need discovery step is a very important part of the plan where the sales person discovers the needs of the customer and selects the product that best fits their needs. After the salesperson establishes what the needs are of the customer and determines what product is the salesperson is ready to give the presentation. After the presentation the customer may be reluctant to buy and this is where a salesperson needs to be skilled
To do this, organisations need to be aware of the following: * Identify what customers are buying and what benefits they purchase * Understand why customers will or do purchase * Know when customers are likely to buy By knowing the customer, organisations can plan to meet their needs. Some other aspects they affect consumers purchasing decisions are: * Location * After sales support * Presentation *
Develop and document, on behalf of an organisation for which you do or might work, a detailed process whereby it will be possible to investigate, identify, assess, and include the needs of customers in planning processes. Activity 1.docx How can quality, time and cost requirements be balanced? It's all about the expectations of the customer and what they intend on using it for. If they pay a premium price for a product then they expect it to be of premium quality and a quick turnaround. If the product is of low value, then the quality expectation isn't so great.
Further I would like to know the co-operative advertising that she intends doing. The display design and the manner in which the product will be shown to customers; I would like to know if the display will match with the advertising layout and them. The next question that I would like to know is the amount of discount the on-package coupon will provide the customer. The next point is that we want to see the trial size that will be used for
Running Head: TARGET-MARKET STRATEGY Target- Market Strategy MKT-245 Principles of Marketing Grand Canyon University August 22, 2010 The purpose of this paper is to inform the reader of my product and what are my strategy for entering the markets and what the potential barriers I may encounter. I would start off my giving my product a name that has a key phrase that describes the product category for the customers’ or potential customers’ mind. No matter how you brand your company, it must deliver on its promise. If you promote your brand with strong customer service, your customers better feel that way or it will fall flat. Speedy service can’t be slow.
• Identify quantifiable elements that can be used to evaluate, monitor, and control marketing effectiveness. Week Two: Marketing Research • Justify the importance of marketing research in the development of marketing strategy and tactics. • Analyze the importance of competitive intelligence and analysis in marketing. • Identify various segmentation criteria that impact target market selection. • Describe the various types of organizational buyers and consumers and the factors that influence their purchasing decisions.