MARKETING PLANNING PROGRAM DEVELOPMENT
The development of the marketing strategy and selection of a target market(s) tell marketers which customers to focus on and what needs to attempt to satisfy.
The next stage of the marketing process involves combining the various elements of the marketing mix into a cohesive, effective marketing program.
A product is not just a physical object, but it is a bundle of benefit or values that satisfies the needs of consumers. The needs may be purely functional, or they may include social and psychological benefits. For many products, strong symbolic features and social and psychological meaning may be more important than functional utility.
1. BRANDING
Choosing a brand name for a product is important from a promotional perspective because brand names communicate attributes and meaning. Marketers search for brand names that can communicate product concepts and help position the product in customers’ mind.
One important role of advertising in respect to branding strategies is creating and maintaining brand equity.
Brand equity can be thought of as an intangible asset of added value or goodwill that results from the favorable image, impression of differentiation, and/or the strength of consumer attachment to a company name, brand name, or trademark. Brand equity allows a brand to earn greater sales volume and/or higher margins than it could without the name, providing the company with a competitive advantage.
The strong equity position a company and/or its brand enjoys is often reinforced through advertising.
2. PACKAGING
The package is often the consumer’s first exposure to the product, so it must make a favorable first impression since as many as two-thirds of all purchases made in the supermarket are unplanned.
A package must not only attract and hold the consumer’s attention, but it must also communicate information on how to use the product, divulge its composition and content, and satisfy any legal requirements regarding disclosure.
Design factors such as size, shape, color, and lettering all contribute to the appeal of a package.
Package can be as important as a commercial in determining what goes from the store shelf to the consumer’s shopping cart.
Products use packaging to create a distinctive brand image and identity.
3. PRICE
The price must be consistent with the perceptions of the product, as well as the communications strategy. Higher prices will communicate a higher product quality, while lower prices reflect bargain or “value” perception.
Factors such as product quality, competition, and advertising all interact in determining what price a firm can and should change.
MATERI KULIAH 4
Materi Kuliah 3
Marketing Strategy and Analysis:
The marketing process begins with the development of a marketing strategy and analysis in which the company decides the product or service areas and particular markets where it wants to compete that consist of three steps:
1) opportunity analysis;
Market opportunities are areas where there are favorable demand trends, where the company believes customer needs and opportunities are not being satisfied, and where it can compete effectively.
A company usually identifies market opportunities by carefully examining the marketplace and noting demand trends and competition in various market segments.
2) competitive analysis;
The marketers must carefully analyze the competition to be faced in the marketplace that may range from direct brand competition to more indirect form of competition.
An important aspect of marketing strategy development is the search for a competitive advantage or something special a firm does or has that gives it an edge over competitors including:
a. having better quality products
b. providing superior customer service
c. having the lowest production cost
d. dominating channels of distribution
e. advertising that creates and maintains product differentiation
3) target marketing.
The target market becomes the focus of the firm’s marketing efforts, and goals and objectives are set according to where the company wants to be and what it hopes to accomplish in this market.
The marketing process begins with the development of a marketing strategy and analysis in which the company decides the product or service areas and particular markets where it wants to compete that consist of three steps:
1) opportunity analysis;
Market opportunities are areas where there are favorable demand trends, where the company believes customer needs and opportunities are not being satisfied, and where it can compete effectively.
A company usually identifies market opportunities by carefully examining the marketplace and noting demand trends and competition in various market segments.
2) competitive analysis;
The marketers must carefully analyze the competition to be faced in the marketplace that may range from direct brand competition to more indirect form of competition.
An important aspect of marketing strategy development is the search for a competitive advantage or something special a firm does or has that gives it an edge over competitors including:
a. having better quality products
b. providing superior customer service
c. having the lowest production cost
d. dominating channels of distribution
e. advertising that creates and maintains product differentiation
3) target marketing.
The target market becomes the focus of the firm’s marketing efforts, and goals and objectives are set according to where the company wants to be and what it hopes to accomplish in this market.
MATERI KULIAH 2
THE TARGET MARKETING PROCESS
Because few, if any, products can satisfy the needs of all consumers, companies often develop different marketing strategies to satisfy different consumer needs. The process by which marketers do this is refered to as target marketing and involves four basic steps:
1. Identifying markets with unfulfilled needs
2. Segmenting the market
3. Targeting specific segment
4. Market Positioning.
1. Identifying markets with unfulfilled needs
Target market identification isolates consumers with similar lifestyles, needs and the like, and increase our knowledge of their specific requirements. Marketers competing in nearly all product and service categories are constantly searching for ways to segment their markets in an attempt to better satisfy customers’ needs.
2. Market Segmentation
Market segmentation is “dividing up a market into distinct groups that 1) have common needs and 2) will respond similarly to a marketing action. (Berkowitz and Kerin).
Marketers attempt to identify broad classes of buyers who have the same needs and will respond similarly to marketing actions.
Marketers may use one of the segmentation variables or a combination of approaches.
2.1 Base for Segmentation
2.1.1 Geographic Segmentation
Markets are divided into different geographic units. Consumers often have different buying habits depending on where they reside. These units may include nations, states, counties or even neighborhoods.
2.1.2 Demographic Segmentation
Dividing the market on the basis of demographic variables such as age, sex, family size, education, income and social class.
2.1.3 Psychographic Segmentation
Dividing the market on the basis of personality and/or lifestyles.
The determination of lifestyles is usually based on an analysis of the activities, interests, and opinion (AIOs) of consumers.
3. Targeting Specific Segment
The outcome of the segmentation analysis will reveal the market opportunities available. The next phase in the target marketing process involves two steps:
3.1 Determining how many segments to enter.
3.2 Determining which segments offer the most potential. The firm must examine the sales potential of the segment, the opportunities for growth, the competition, and its own ability to compete. In other word, the firm must examine the most attractive segment.
4. Market Positioning
Positioning has been defined as “the art and science of fitting the product or service to one or more segments of the broad market in such a way as to set it meaningfully apart from competition.”
Because few, if any, products can satisfy the needs of all consumers, companies often develop different marketing strategies to satisfy different consumer needs. The process by which marketers do this is refered to as target marketing and involves four basic steps:
1. Identifying markets with unfulfilled needs
2. Segmenting the market
3. Targeting specific segment
4. Market Positioning.
1. Identifying markets with unfulfilled needs
Target market identification isolates consumers with similar lifestyles, needs and the like, and increase our knowledge of their specific requirements. Marketers competing in nearly all product and service categories are constantly searching for ways to segment their markets in an attempt to better satisfy customers’ needs.
2. Market Segmentation
Market segmentation is “dividing up a market into distinct groups that 1) have common needs and 2) will respond similarly to a marketing action. (Berkowitz and Kerin).
Marketers attempt to identify broad classes of buyers who have the same needs and will respond similarly to marketing actions.
Marketers may use one of the segmentation variables or a combination of approaches.
2.1 Base for Segmentation
2.1.1 Geographic Segmentation
Markets are divided into different geographic units. Consumers often have different buying habits depending on where they reside. These units may include nations, states, counties or even neighborhoods.
2.1.2 Demographic Segmentation
Dividing the market on the basis of demographic variables such as age, sex, family size, education, income and social class.
2.1.3 Psychographic Segmentation
Dividing the market on the basis of personality and/or lifestyles.
The determination of lifestyles is usually based on an analysis of the activities, interests, and opinion (AIOs) of consumers.
3. Targeting Specific Segment
The outcome of the segmentation analysis will reveal the market opportunities available. The next phase in the target marketing process involves two steps:
3.1 Determining how many segments to enter.
3.2 Determining which segments offer the most potential. The firm must examine the sales potential of the segment, the opportunities for growth, the competition, and its own ability to compete. In other word, the firm must examine the most attractive segment.
4. Market Positioning
Positioning has been defined as “the art and science of fitting the product or service to one or more segments of the broad market in such a way as to set it meaningfully apart from competition.”
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