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Marketing Revision Essay

1053 words - 5 pages

Marketing Apps Revision

1. Distribution Methods (B2B & Services)

1. List other products or services your customer’s use.
- What problem are your customers trying to solve when they buy from you?
- Are there complementary services or products that come before or after they join you?
- What else may be on your decision-maker’s plate at the time they buy from you?

2. Find organizations that already have access to your prospects. Think broadly about
- Media they consume (online content, podcasts, industry publications, newspapers, etc.)
- Services they subscribe to
- Consultants or vendors they work with
- Companies they buy from regularly
- Organizations they belong ...view middle of the document...

(DVD / Videos) – Copying / File-sharing
8. Customer

2. Characteristics of Services

- Intangibility Spectrum
- Heterogeneity – No service is the same.
- Perishability – Cannot store a service
- Non-ownership – Cannot own the service.
- Simultaneous Production / Inseparability

Live performances
Aeroplane Flights.
Restaurant

Value analysis: systematic study of the
components of a purchase to determine the most
cost-effective ways to acquire items

Vendor analysis: assessment of supplier
performance in areas such as price, back orders,
timely delivery, and attention to special requests.

Stage 1: Anticipate or recognize a problem/need/opportunity
and a general solution

Stage 2: Determine the characteristics and quantity of a
needed good or service

Stage 3: Describe characteristics and the quantity of a needed
good or service

Stage 4: Search for and qualify potential sources

Stage 5: Acquire and analyze proposals

Stage 6: Evaluate proposals and select suppliers

Stage 7: Select an order routine

Stage 8: Obtain feedback and evaluate performance

DMU
In a generic sense, there are typically six roles within any buying center. They are:
1. Initiator who suggests purchasing a product or service.
2. Influencers who try to affect the outcome decision with their opinions.
3. Deciders who have the final decision.
4. Buyers who are responsible for the contract.
5. End users of the item being purchased.
6. Gatekeepers who control the flow of information.

3. Segmentation

- Demographic
- Geographic
- Geo-demographic
- Psychographic – Lifestyle, personality, social class, behavioural characteristics.
- Behavioural Segmentation
- Needs & Wants Segmentation

Advantages:
Market segmentation is useful when you have limited resources to deploy, so you need to make sure you're tapping the correct line to be able to hit your targets on schedule.
- More efficient use is made of marketing resources - less waste.
- A competitive advantage can be gained in a particular part of a market.
- It's beneficial for small firms as uses less resources.
- Products can be modified to be exactly what the consumer wants.
- Marketing mix can be more targeted.
- Guides marketing research
- Improves satisfaction
- Improves forecasting
- Identifies competition and opportunities

Disadvantages:
- Costs in actually finding out who to target
- Increased costs to develop variations of the product.
- Higher stock holding costs.
- Higher advertising and other costs.
- Increases marketing costs
- Consumer backlash
- Limits general popularity

4. B2B Pricing

Branding
- Determination of Specifications: How the brand image will affect the price.
- Search for sources of...

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