1- Four different marketplaces & decisions made for each one.
2- Marketing Memo.
1- Four different marketplaces & decisions made for each one.
- Marketers frequently asked questions, these questions vary in importance indifferent marketplaces. Consider the following four markets: consumer, business, global, non profit.
- Consumer markets companies are selling mass goods & services such as soft drinks, television sets. They spend a lot of time trying to establish a superior brand image. Consumer marketers decide on the features, quality level, distribution coverage, and promotion expenditures that will help their brand achieve a number- one-or- two positions in their target market.
- Business markets companies are selling business goods & services to well trained and professional buyers. Business buyers buy these goods for reselling it & gain profits.
- There are skilled in evaluating competitive offerings. So marketers must demonstrate how their product will help customer achieve higher revenue & lower costs. Advertisements make a role but a stronger role is played by sales force, price, and the company's reputation for reliability & quality.
- Global markets companies are selling goods & services indifferent countries, so they face a lot of challenges and decisions.
- Marketer should decide which countries to enter; how to enter each country (as an licenser, joint venture, exporter, contract manufacturer, or solo manufacturer) ; how to price their products indifferent countries; how to adapt their communications to different legal system; different languages; and conditions of corruptions or political favoritism.
- Non profit and governmental markets companies are selling their goods to non profit organizations such as churches, universities, governments agencies need to price carefully because these organizations has limited purchasing power. Much government purchasing calls for bids, with the lowest bid being favored, in the absence of extenuating factors.
2- Marketing Memo.
Marketing Memo it is a list of many of the questions marketers ask such as:
1- How can we spot and choose the right market segments to serve?
2- How can we differentiate our offering from competitive offerings?
3- How should we respond to customers who press us for a lower price?
4- How can we compete against lower-cost, lower-price competitors from here and abroad?
5- How far can we go in customizing our offering for each customer?
6- What are the major ways in which we can grow our business?
7- How can we build stronger brands?
8- How can we reduce the cost of customer acquisitions?
9- How can we keep our customer loyal for a longer period?
10- How can we tell which customer are more important?
11- How can we measure the payback from advertising, sales promotion, and public relations?
12- How can we improve sales force productivity?
13- How can we establish multiple channels and yet manage channel conflict?
14- How can we get the other company departments to be more customers oriented?
to be continued
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