Revision Session for Marketing MKG1001.
When you market you match your business and your product or service to your customer's needs and wants .
What is the difference between Selling & Marketing?.
What is the difference between customer focused and selling focused?.
What is your USP?.
How do you identify the needs of your customers?.
2. Market Research Chapter 3.
Know about and understand: .
low cost market research.
your competitor - both direct & indirect.
that competition is good.
how to use research to quantify the market size.
the importance of knowing everything about your customer.
the difference between Secondary and Primary Data.
Market Information systems.
6 step research process - Identify Problem, Conduct Situation analysis, Informal Evaluation - Secondary Research, Formal investigation - Primary Research, Analyze Data, Conduct Follow Up Research.
the difference between Qualitative and Quantitative Research.
that market research is the beginning of fostering client relationships.
3. Market Segmentation & Positioning Chapter 4.
Know and understand:.
market segmentation.
the importance of your target market.
segmentation categories - Geographic, Demographic, Psychographics, Behavior, Product Benefits, Product Usage.
that segmentation process must be - measurable & obtainable, with the market large enough and accessible.
the 10 Value Segments of Customer.
positioning .
the perceptual maps of positioning - value vs. quality etc.
the positioning according to Competition, Company, customers and using the Marketing Mix.
4. Marketing Mix Chapter 7.
Know and understand:.
Marketing Mix.
the 4 P's.
how to use the 4 P's to differentiate yourself in the marketplace.
the links between each of the 4 P's.
