Marketing Basics Notes
... Niche Marketing – carving out a relatively _________ part of a market that has a very
____________ need not currently being filled.
Market Segmentation – the process of identifying groups of consumers based on their common
... percent of the pharmacy chain’s customers. CVS has
marketed its stores to aid women who are constantly
multitasking. They recently redesigned 1,200 of its 6,200
stores to women, including shorter wait times for
prescriptions, wider and better-lit shopping aisles, and more
Definitions of Marketing
... Marketing consists of the strategies and tactics used to identify,
create and maintain satisfying relationships with customers that
result in value for both the customer and the marketer.
The right product, in the right place, at the right time, at the right
Marketing is essentially about mar ...
... marketing mix activities to help consumers
perceive the products as being different/better
than the competition
The Four Ps of Marketing - Hale
... Which of the following promotional activities
will be best for this venture: advertising,
personal selling, publicity, sales promotion or
3c. The Marketing Plan
the process by which marketers
try to create an image or
identity in the minds of
their target market for
its product, brand, or
... Dividing the total market into smaller groups of people who share
specific needs and characteristics.
... everyone buys. Example of mass marketing is Coca-Cola or Burger King. Target
marketing aims to reach a specific “high quality” audience. An example is Huggies or
3. The customer is placed in the center of the four P’s because this strategy is showing that
all of these variables are necessar ...
integrated marketing communication
... “The recognition of the added value in a
program that integrates a variety of
marketing disciplines and combines these
disciplines to provide clarity, consistency,
and maximum communications impact.”
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.