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Unit 1 Functions
Unit 1 Functions

... The most important aspect of marketing is satisfying the customer. Customer needs should be the primary focus during the planning, production, distribution, and promotion of a product or service. 1. Identify customer needs ...
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... Goal: An objective you plan to fulfill Determine where your business/firm needs to be by a particular date and set goals ◦ Example: A family-style restaurant wants to increase sales. They set goal to increase annual sales by 10% over last years sales. This goal is specific and can be evaluated for s ...
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... 2. Segmentation and Targeting Need to define multiple audiences Defined by usage, lifestyle, behavior Speak to targets based on their individual needs and wants ...
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... 1) The process of dividing the market into groups of customers with different needs, wants, or characteristics is an example of A. Targeting B. Positioning C. Market Segmentation D. Competitor-based pricing 2) Which of the following is when the firm determines the perceived value of the product from ...
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... qualitative research will help an organisation understand the core motivations, reasons and opinions of customers’ behaviours. The suitable method of qualitative date collection for Heavenly Treats would be observational research which means to gather information by observing people and their action ...
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... Introduction to Marketing Chapter Seven “Business & Organizational Customers and Their Buying Behavior” • B2B (Business-to-Business) Marketing: Marketing to intermediaries who add value and re-sell or to business end users OR marketing to businesses that are end-users. They are: – Less emotional an ...
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... of this old proverb is that there is always more than one method to accomplish a particular goal. Marketing is no different. There are nearly unlimited methods for marketing; in the end, all marketing comes down to communication. Successful marketers have learned to effectively communicate informati ...
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Target audience

A target audience is the intended audience or readership of a publication, advertisement, or other message. In marketing and advertising, it is a specific group of people within the target market at which a product or the marketing message of a product is aimed (Kotler 2000). For example, if a company sells new diet programs for men with heart disease (target market), the communication may be aimed at those men but also perhaps at their spouses (target audience). Targeted marketing and targeted advertising strive for narrowcasting rather than broadcasting.A target audience can be formed of people of a certain age group, gender, marital status, etc., e.g. teenagers, females, single people, etc. A combination of factors, e.g. men aged 20–30 is a common target audience. Other groups, although not the main focus, may also be interested. Discovering the appropriate target market(s)and determining the target audience is one of the most important activities in marketing management (Niewenhuizen et al. 2000). Perhaps the biggest mistake it is possible to make in targeting is trying to reach everybody and ending up appealing to no-one.
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