Essay on Marketing and Different Customer Segment

Submitted By vallenhere
Words: 1253
Pages: 6

Note for Business 102
Webcast one: porter's 5 force and PEST

Political-taxation,legislation
Economic-exchange rate, interest,NZ economy
Social-Aging pop, diverse pop, social class. Their wants and needs.
Technological-information and communication fast uptake. Advertising,promotion,facebook.

Businesses did not pay attention to trends which failed.
Whitcoulls -> amazon
Motorola-> Apple
Kodak-> Digital photography

Five forces for air NZ
Bargaining power of buyer-domestic v international, personal vs business travel.
Threat of substitute-low, trade off between costs v time saving and convenient.
Bargaining power of supplier-depends, boeing airbus strong many small supplier weak.
Threat of new entrants.-low, high investment costs, difficult to raise capital.
Rivalry: High.
High barrier to entry, high costs

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Webcast two: Marketing

Motivation drives our behaviour, when we are interested at a item, we would purchased it.
Marketing tries to increase the involvement because when involvement is high, consumer is interested about a product, when low, not really interested.

Manufacturer pay for their products to be placed on most eye catching spot.
[pic] No research, usual brand.
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Webcast 3 Segmentation targeting and positioning

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1. Segment to targets- decide what part of market is our segment to target. Segment of customers that we can serve the best.
2. Competitive differentiation- have something better to offer in our competition .
3. Position in the customer's mind-add products to customer's shopping list.
4. Design the marketing mix-develop marketing programmes in our products in our targeting market. Use the marketing mix to carry out our strategy.

We divide our markets into segments by demographics,(age, income etc.)
Anchor milk has 6 different versions targets to different people.
Psychographic-interest values attitudes and lifestyles. Eg people eat cheeseburger in mcdonnald the most for lunch.
Geographic- Cities and countries. Tourism

Differentiation strategy- add value benefit customers.

Positioning- Diet coke(woman) Coke Zero(man). Same ingredient, different taste.Different positioning create different perception.

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Webcast 4- product pricing and place.

Product
Company create value for customers by developing a comprehensive offering.

Louis Vuitton- high price, good service, brand name.
Augment the product- core benefit( car with four wheels), Actual product (electric window, radio, cd player), Augmented product(GPS).
Sony walkman and ipod share core benefit- they are all music players.
Design,features,brand,quality is the actual product.
Augmented product will be itune, app store , on-line purchase store,warranty, upgrade.

Place is where products and services are sold. Can be online or physical place. The systems needed to get them to the customer. Trade me, countdown,amazon.
Different place has different offer.
Countdown- selection is broad, location is convenient, fresh product.
Dairy- limited selection, less fresh product, superbly convenient.

Price
Company need to deliver value to success but also make a profit. To buy supply and improve offerings. Different price of a product targets a different customer segment.
Value is what you get for what you pay. Expensive product may be better than cheaper ones.

Webcast 5- Role of marketing communication

Promotion- marketing communication. Communications that Persuade customers.

Smith n caughys
Product-famous top quality brands
Price- top prices signal quality
Place- location signal quality
Promotion-look of ads signals quality website,fb,twitter.
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Webcast 6- Cocreation

Cocreation is important to companies both efficiency and innovation.
Role of customer has been changed, Internet allows customers to collaborate.

Listens to what the customer says and solve the problems.
We live in era of contestification. Customers come up with…