CIM Revision Cards: Marketing Fundamentals 04 05, First by Marketing Knowledge

By Marketing Knowledge

Designed in particular with revision in brain, the CIM Revision playing cards offer concise, but primary info to help scholars in passing the CIM checks as simply as attainable. a transparent, conscientiously based format aids the educational method and guarantees the foremost issues are coated in a succinct and obtainable demeanour. The compact, spiral certain structure allows the playing cards to be carried round simply, the content material as a result continually being to be had, making them helpful assets irrespective of the place you are.Features comparable to diagrams and bulleted lists are used all through to make sure the foremost issues are displayed as essentially and concisely as attainable. every one part starts off with an inventory of studying results and ends with tricks and information, thereby making sure the content material is damaged down into attainable innovations and will be simply addressed and memorised. * Written particularly for revision reasons consequently simply that includes the foremost innovations that must be discovered* conscientiously designed to permit issues to be simply extracted and memorised with no clouding them in more details* Accompanies the CIM Coursebook and MarketingOnline web site to supply a whole suite of goods to aid the CIM skills

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By Marketing Knowledge

Designed in particular with revision in brain, the CIM Revision playing cards offer concise, but primary info to help scholars in passing the CIM checks as simply as attainable. a transparent, conscientiously based format aids the educational method and guarantees the foremost issues are coated in a succinct and obtainable demeanour. The compact, spiral certain structure allows the playing cards to be carried round simply, the content material as a result continually being to be had, making them helpful assets irrespective of the place you are.Features comparable to diagrams and bulleted lists are used all through to make sure the foremost issues are displayed as essentially and concisely as attainable. every one part starts off with an inventory of studying results and ends with tricks and information, thereby making sure the content material is damaged down into attainable innovations and will be simply addressed and memorised. * Written particularly for revision reasons consequently simply that includes the foremost innovations that must be discovered* conscientiously designed to permit issues to be simply extracted and memorised with no clouding them in more details* Accompanies the CIM Coursebook and MarketingOnline web site to supply a whole suite of goods to aid the CIM skills

Show description

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E. money, resources, etc. 3. Customers must be willing to use their money and resources to buy products 4. Customers must have authority to buy different products or services! e. mass marketing n The organization could concentrate its efforts on one market but have a number of different versions of each product – differentiated marketing Six components of target marketing 1. 2. 3. 4. 5. 6. Customer needs – wants and expectations Product market – size and structure Brand strength and market share Company capability Competitive rivalry Economies of scale – production and marketing n Concentrating efforts on a small and carefully chosen segment – focus market MARKETING FUNDAMENTALS 27 MARKETING PLANNING AND BUDGETING Positioning as a Marketing Activity Steps in establishing a positioning plan n Identify all segments within the market n Decide which segments are most suitable n Ensure the organization understands customer requirements n Develop product or service that specifically meets the target audience needs n Identify benefits, usage, user category, competitive positioning n Evaluate how the product or service is positioned in the eyes of the target group n Identify an image that matches the requirements of the customer n Promote the product to the target audience, establish relationships and aim for customer loyalty Remember positioning alternatives n Distinctive n Fill the gaps n Repositioning 28 Tactics – The Development of the Marketing Mix Development of the right marketing mix will depend upon: The application of the 4/7Ps to the organizational context.

3. Customers must be willing to use their money and resources to buy products 4. Customers must have authority to buy different products or services! e. mass marketing n The organization could concentrate its efforts on one market but have a number of different versions of each product – differentiated marketing Six components of target marketing 1. 2. 3. 4. 5. 6. Customer needs – wants and expectations Product market – size and structure Brand strength and market share Company capability Competitive rivalry Economies of scale – production and marketing n Concentrating efforts on a small and carefully chosen segment – focus market MARKETING FUNDAMENTALS 27 MARKETING PLANNING AND BUDGETING Positioning as a Marketing Activity Steps in establishing a positioning plan n Identify all segments within the market n Decide which segments are most suitable n Ensure the organization understands customer requirements n Develop product or service that specifically meets the target audience needs n Identify benefits, usage, user category, competitive positioning n Evaluate how the product or service is positioned in the eyes of the target group n Identify an image that matches the requirements of the customer n Promote the product to the target audience, establish relationships and aim for customer loyalty Remember positioning alternatives n Distinctive n Fill the gaps n Repositioning 28 Tactics – The Development of the Marketing Mix Development of the right marketing mix will depend upon: The application of the 4/7Ps to the organizational context.

Electronic toys n The product then enters the growth stage in that new market n However, with the pace of change increasing and global brands becoming more prevalent, many countries may miss out on several stages of a product’s evolution The Product Adoption Process MARKETING FUNDAMENTALS 41 PRODUCT Categories of Adoption Innovators – Early Adopters Late Majority Younger, well educated and high disposable incomes. Like to be the first to have something new. Price is not an issue. Early adopters enter at the growth stage Adopt innovations after acceptance by the previous groups and usually because of social pressure or because the price has fallen Early Majority Laggards Slightly above average in terms of education and disposable income.

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