...Before start think about marketing (4P), you must understand what is STP. Terms of STP include : market strategy; target markets; positioning; market segmentation and target markets; market segmentation and demographics Segmentation Segmentation : Identifying al segments for the product/service. Many of the resources listed in module 3 will be helpful to you when you develop segments. To be useful, segments should be: Measurable Accessible (can you reach them) Profitable Distinct from one another The objective of segmentation is to find attractive markets. Strategies include Break market into components Regroup into market segments Select which segment to target Positioning. Positioning is an essential component -- and skill - in good marketing. Perceptual maps are used to determine the position of a product, firm, person, service or idea. Positioning maps, or perceptual maps can be simple, yet very effective marketing tools. One definition of Positioning Theory is: the science of perceptual strategy. It is based on a theory that strategy can only be planned in the mind of the consumer, not the marketplace*. It is important to understand the levels of competition because positioning applies at all levels of competition. For example: Product Level (e.g., Pepsi vs. Coke) Category Level (e.g., Cola vs. Root beer) Corporate Level (e.g., Pepsi Inc. vs. Coca Cola Company) Industry Level (e.g., Beverage Industry vs. Snack food Industry) Targeting...
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...The Marketing Plan Karen Ingram BUS 330 Principles of Marketing Instructor: Rokesha (Kay) Green October 5, 2015 The Marketing Plan Marketing has been around for many years but it is always changing and progressing. Marketing is about communicating the value of a product to consumers to promote or sell a product or service. Marketing makes the product unique even though there are similar item offered by competitors. Some activities of the marketing department include product development, advertising, promotion, distribution of sale, customer service, and public relations. Value is the main concept on which marketing is based. Value refers to how good an item is. Value is driven by personal needs and desires. Customer value is the value a specific exchange has for the customer as opposed to for the company (White, 2012). Marketing function determines customer value because it refers to the value of an item the customer receives. A marketer’s job is to develop an offering and to price it in such a way that its value attracts customers, yet it still makes a profit. This paper will introduce and market the product iTunes using the STP approach, discuss major environmental facts and trends in China, and contain a marketing plan for iTunes using the four p’s of marketing. A product that is sold in the United States and has sales opportunities in China is the intangible service iTunes from Apple. ITunes is a store in the form of an app that can be downloaded to ay electronic...
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...Marketing. Everything. A sneak-peek into the big bad world of marketing brought to you by the coolest Interest Group on Campus Who we are and what we do Who we are and what we do Who we are and what we do Who we are and what we do Who we are and what we do mPower (stylized as \m/Power) is the marketing interest group of IIM Kozhikode. We, at \m/Power organize industry interactions with eminent marketers via workshops and seminars, conduct events like quizzes, extempore, debates and Group Discussions. The marquee events at \m/Power include the KMAC (Kozhikode Marketing Acumen Certificate), arguably your first CV point containing the word „marketing‟. We also prepare you for the all important summer internships by means of experience sharing, briefing about the companies, and finally by organizing mock GDs and interviews for the entire batch. You can connect with us via our Facebook page (facebook.com/mPowerIIMK) and/or our blog (mpower.iimk.ac.in). You can also write to us at mpower@iimk.ac.in. Some questions to be covered... Some questions to be covered... Some questions to be covered... Some questions to be covered... Some questions to be covered... \m/arketing, what is it? People say marketing = selling. Is it? Of all the things, what all can be marketed? Who are the gentlemen who market anyway? Err… what‟s this STP then? Right…so all gentlemen market the same way? \m/arketing, what isisisit? \m/arketing, what it?it? \m/arketing, what isisit? \m/arketing...
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...Introduction to Marketing BSP4064 (Individual Report) 11th March, 2014 Module Leader: Andrew Hunt Report By: Paras Mehta To begin with, the petroleum industry in the UK has mostly been stable but to make it a successful business we need to target our audience by delivering them with a product that can fulfill their expectations or rise above it. “The petroleum industry in the UK contributes £2.3 billion annually excluding the £9 billion from crude oil (IHS, 2013, pp. 7-50).” The product that we are selling is called UNLEASH, the features of this product is that it gets produced swiftly and helps the vehicle’s engine to last longer which other diesel products have failed to do. The main thing to notice here is that the changing environment is creating new demands and the continuing trend of light diesel fuel demand in the UK is rising, this could lead to an automatic increase in sales and decrease in consumption of gasoline. The main drivers of this operational shift are the revolution in private car ownership patterns that have been seen across the UK for the past twenty five years, which are anticipated to carry on, combined with balanced progression in commercial or everyday diesel demand for road transportation. The significant improvement in the quality and product range of diesel motorized cars together with the better economy of diesel vehicles versus petrol vehicles, this has been a major contributor in the dieselization of the number of cars on the road...
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...Marketing Practices of Prince Bazar Super Store Limelight on 4 P’s & STP Concept A term paper by team White collar East West University Department of Business Administration Marketing Practices of “Prince Bazar Super Store” Limelight on 4 P’s & STP Concept Submitted to: Ms. Husna Ara Submitted by: Team “White Collar” 1. Jobaer Hasan ID: 2012-2-10-167 2. Mobashir Ahmed chowdhury ID: 2012-2-10-220 3. Abdul Aziz Fahad ID: 2012-2-10-249 4. Meraz Hossain ID: 2012-3-10-200 5. Rezwana Sultana ID: 2012-1-10-101 Date of Submission: 25 March, 2013 Date: 25 March, 2013 To Husne Ara Lecturer East West University Bangladesh Sub: submission of the term paper on Prince Bazaar. Dear Madam, We have great pleasure to replace before you our assignment on Super Shop Industry. We have made a research paper on Prince Bazar. We are the student of MKT-101; Sec-6. We analyzed on Prince Bazar to prepare this term paper, we have gathered what we believe to be the most complete information available. We have worked hard preparing this Term paper and we hope it will perfectly present the whole organizational situation of Prince Bazaar. We will be always available for answering any query related with this term paper. We request you to...
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...1 CHAPTER © John Stillwell/PA Wire URN: 8920071 (Press Association via AP Images) What Is Marketing? structures the book and the way you should think about marketing (specifically, we’ll define all the terms in 5Cs, STP, and 4Ps). We will then dig right into the customer perspective: How does a customer (consumer or business) make a buying decision? Marketing is ultimately about deFining Marketing If you ask the average person “What is marketing?” he or she might respond in one of the following ways: >> Marketing is sales or advertising. >> Marketers make people buy stuff they don’t need and can’t afford. >> Marketers are the people who call you while you’re trying to eat dinner. These comments are probably all deserved—we have to own up to the fact that our profession, like any other, has its unsavory members. But in this book, we’ll try for a more enlightened view.1 This chapter overviews marketing concepts and terms, beginning with marketing and its vital role in today’s corporation. We then present the marketing framework that 2 Marketing is an exchange between a firm and its customers. serving customers well; to do so, we must understand what customers want. The chapter concludes by briefly describing what to expect throughout the rest of the book. 8134X_01_ch01_p002-013.indd 2 12/15/10 3:58 PM Marketing is an exchange relationship Marketing is defined as an exchange between a firm and its customers. As Figure 1.1 indicates, the customer wants something...
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...3.1 Marketing Strategy 3.2 STP Analysis [pic] Figure: STP process Source: consumerpsychologist.com In marketing strategy Segmenting, Targeting and Positioning (STP) play a vital role which helps Coca-Cola to introduce its product to customer and make them buy through this process they capture value from customer (Kotler- et- al, 2013). To understand the Coca-Cola’s product and its value perception, here is the STP analysis 3.2.1 Segmentation Strategy The competitive market and the changed demands of consumer have made Coca-Cola to satisfy their needs by improving and changing its product. For these reason Coca – cola has been successful to attract the customers and enhance its sales without interrupting other company. Such attempts taken by this company is to introduce new product based on changed demand such are to introduce Diet Coke, Caffeine free Coke. There are multi segmentation strategy which is used by Coca Cola. The marketing mix is used for the every segmentation of Coca cola which has various products as estimated 400 and product mix of 3,500. Geographic segmentation There are different users of Coca Cola such as various ethnic groups, lifestyles, age groups, sexes etc. Examples: Oasis- Juice with various flavour for the people aged between 20-30 and this is served in Ireland and Britian. Coca Cola diet, Coca Cola zero etc. for health concerned people. Climate- the product of Coca Cola is used more in summer than in winter and the...
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...1. Executive Summary Interstate Batteries creates batteries for almost every customer need. Batteries provide power to many everyday products that consumers need. Interstate is willing to manufacturer any type of battery that the customer may need. In order to maintain a strong hold in the market place, Interstate must create a new battery. The new battery that Interstate is considering creating is the Lifetime Battery. It is essentially a battery that cycles power back into itself to maintain a lifetime charge. This will eliminate the need to purchase future batteries. With this marketing plan, a situation analysis, marketing strategy, financial projections, implementation plan, and control metrics will all be performed to justify the need or importance of the Lifetime Battery. 2. Company Overview Interstate Batteries is a battery provider that provides batteries for many different needs. Cars, electronics, marine equipment, accessories, etc. are some of the top items that Interstate produces batteries for. Interstate is the number one replacement brand battery in North America. According to Interstate Batteries (n.d.) “Interstate continues to thrive on our innovation, as well as our good old-fashioned business principles founded on treating others like we would like to be treated” (para. 1). Interstate is a privately held corporation and has continued to thrive, even during tough economic times. Interstates purpose is “To glorify God and enrich lives as we deliver the...
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...Optimal Payments Plc Audited Results for the year ended 31 December 2010 Mark Mayhew Joel Leonoff Keith Butcher Thursday, 31 March 2011 1 1 © Optimal Payments Plc. www.optimalpayments.com www.optimalpayments.com © Optimal Payments Plc. Agenda Introduction 2010 achievements 2010 financial performance Looking forward Conclusion Appendices A di Presentation team: Mark Mayhew CEO Mark Mayhew Mark Mayhew Keith Butcher Joel Leonoff Mark Mayhew Joel Leonoff CEO Keith Butcher CFO 2 © Optimal Payments Plc. www.optimalpayments.com Introduction 3 3 © Optimal Payments Plc. www.optimalpayments.com www.optimalpayments.com © Optimal Payments Plc. 2010 highlights Improved financial performance Business Transformation programme - simplification p p Newteller stored value platform operational Strengthened management team and Board Substantial progress on delivering Group 3 year strategy Transformational acquisition of Optimal Payments post year-end a s o a o a acqu s o o Op a ay e s pos yea e d 4 © Optimal Payments Plc. www.optimalpayments.com Optimal Payments Plc – who we are … NEOVIA Financial Plc + Optimal Payments Transaction closed 1 February 2011 NEOVIA renamed O ti d Optimal P l Payments Pl on 1 March 2011 t Plc M h Focused on providing payment solutions to online merchants and consumers through our “twin pillars” Straight Through Processing Stored Value Processing of transactions, either gateway or bureau (assumes...
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...| Designing a Network for NCIF | | Keith | 11/26/2013 | This document details the network for NCIF outlining the network design, consisting of various standards, classes and IP addressing for subnets. | NCIF is an industry leading research and development firm consisting of eight (8) regional offices in seven (7) countries, including the United States, Germany, Africa, India, Australia, Brazil, and China, with eleven(11) district or branch offices, consisting of 225,000 employs worldwide. NCIF resides in Hopkinton, MA (USA). Communicating to the consumer is the key element in a successful business. Due to a fast paced world there are modernized techniques that all companies need to adapt and implement when it comes to marketing. There is several ways a company can reach out to their clients. A company must dedicate their time to keep their presence known to the public. In order for Johnson and Company to stay competitive and market to their clients and prospects, there are suggestions I have to help make this happen. First, the phones systems need to be updated from an analog system to a Voice Over IP (VOIP) system. One of the main advantages of VOIP is receiving and taking calls away from the office, if you have an internet connection. Another advantage to a digital phone system is clear and crisp sound creating a better experience for the caller. With VOIP you can set up phone conferences allowing you to see and hear the client or vendor. An after-hours machine...
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...AB1501 - Marketing Individual Reflection Paper Individual Reflection Paper 2012 2012 It has been a fulfilling 11 weeks as I embark on this reflection paper in the midst of a hectic exam preparation schedule. It is time to review what I have gained and learnt as an individual after attending numerous marketing tutorials and hearing many wonderful presentations. Allow me to recapitulate. Segmentation, Targeting and Positioning Segmentation, Targeting and Positioning (STP) is undeniably one of the most important concepts of marketing. Through the tutorials, I have learnt that STP sets the base of the entire marketing effort. Segmentation divides the market through demographic, geographic, psychographic and behavioural segmentation. It clearly defines the boundaries of the different market opportunities that one may want to develop in. Targeting involves evaluating the different market segments and then choosing the best target market(s) which are feasible and in line with the company’s goals. Positioning creates a value proposition which represent a set of differences or competitive advantages that differentiates the product, delivering more customer value. STP aids one in creating a product that is based on a customer-driven marketing strategy. In this aspect, I believe that my team has done relatively well. By understanding STP, my team was able to use multiple segmentation bases (Demographic, Psychographic and Behavioural) to define our target market. This enables us...
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...This essay will illustrate the extent to which effective marketing must incorporate Segmentation, Targeting and Positioning. Segmentation, targeting and positioning is a three stage process. Segmentation describes what kinds of customers exist, targeting describe target market which is best to serve and positioning which describe segmentation by categorizing the products or services for that segment. Segmentation is “the process of defining and subdividing a large homogenous market into clearly identifiable segments having similar needs, wants, or demand characteristics. Its objective is to design a marketing mix that precisely matches the expectations of customers in the targeted segment.” Segmentation try to find out what kinds of different consumers with different needs exist. Segmentation depend on? Gender Age Social class Personal Disposable Income Family life cycle Employment status Marital status / living arrangements and many more. Segmenting consumer markets - Geographic -Demographic -Psychographic -Behavioural There are different kinds of variable which are used for segmentation: -Demographic – to this belong: gender, income, education, location, and family size, ethnic. -Behaviour – some customers are “brand loyal”- customers stay with the brand they are stick to. Some consumers are “heavy” users while other are “light” users. Targeting evaluate the attractiveness of each segment. Defending a target market requires...
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...MKT 305-1203A-05 Marketing and the Virtual Marketplace Marketing Strategies Phase 3 Individual Project MKT 305-1203A-05 Professor Trisha Brauer Colorado Technical University online Arthur Edwards 07/30/12 Introduction The marketing plan is a formal guide that organizations use for the purpose identifying customers in the both the consumer market and business market who have a need for their products and services. The marketing plan employs a marketing mix that is congenial and current with the needs of the aforementioned markets groups. (Dhruv Grewal, 2012) In this paper, I will choose two top products of a firm to match the needs of a targeted market using the STP market strategy. STP is an acronym for segmentation, targeting and positioning which is a proven market strategy commonly utilized to improve the sales of a firm’s products or services. However, please note that the pericope of this paper will focus primarily on the positioning concept of the aforementioned STP marketing strategy. Top Two Products Nest-Collective was founded in 2007 as a business profiled as a member of the food and beverage industry. The primary mission of this company is to provide the best baby and toddler food on the market. The company plans to achieve this aforementioned goal and objective by providing organic processed food instead of chemical processed food that is prepared and available in the market. Nest-Collective has partnered...
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...Solar World, A New Way to Charge Your Life Patricia M. Robertson Dr. Harrychand Kalicharan Marketing 500 July 22, 2010 The name of my company is Solar World. The product I will be marketing is a solar charger which would be considered a good. This product is considered a good because it something tangible that the consumer can purchase. A tangible product is anything a customer can physically purchase and take home with them. For example, some other tangible products are computers, televisions, food etc. This product is a new invention that I am still exploring so I must incorporate a marketing framework. The first thing I must do in this framework is put in place a STP. The STP consists of: Segmentation, Targeting and Positioning which will allow me to focus on the customer needs, target the right group of people for my product and positing my company as a top provider of electronic convenience. The company I chose to market through is American Telephone and Telegraph Corporation (ATT) who has a reputation for being a good product provider. I will also strive to open a headquarters located in California because this would be the ideal location for my positioning strategy. My positioning strategy is centering my business in a highly populated area that would generate quick sales and publicity. This idea will work because it is a needed and tangible product for consumers. For example, in the text it is stated that “The best marketers put themselves...
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...elements of marketing in today’s global world (based on Lee and Carter 2012). Critically appraise how marketers can manage brands across transnational markets. Consider the competitive advantage that branding brigs to a product as well as the cultural considerations that must be respected. Choose ONE brand in your industry as an example to illustrate your points. Branding in a Global tourism marketing strategy is key element (Witt and Moutinho, 1995). A brand is composed of a name, design or sign, which is adopted to recognise a facility delivered by an institution or organization (Witt and Moutinho, 1995). This essay will discuss the importance of branding as a key element in today’s global marketing. We will take in consideration of Virgin as an example of Global brand. Mawson (2000) argues that in the United States of America, Back in the days in the Mid-west, the cowboys would imprint with a very hot iron their cattle’s buttocks with the name of their ranch to show possession and to marked them to differentiate from the neighbour’s. This is an example of how branding existed decades ago. A brand is purely a merchandise or service which can be notable from its rivals (Hankinson and Cowking, 1996). Popular brands are the ones that fulfil the desires and objective of a distinct target market (Hankinson and Cowking, 1996). Branding is an important and planned process that embroils all parts of the firm in its delivery (Randall, 1997). It does involve marketing, but is not...
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