Notes on the Marketing Approach

MARKETING 101 The marketing approach Analyze Decide Act Feedback loop The market Define, size, structure Actual and potential market, evolution (launch, growth, maturity, decline), factors (legal, cultural, tech, eco & demographic) The actors • The consumer and the customer Need: which type: physical (physical, security) vs psychological (belonging, esteem, accomplishment) Information gathering: implication, perception Pre selection: beliefs, feelings, intention Decision: who can influence: people (experts, user), environment Satisfaction: does the product fit the need? Will he recommend or criticize? • The competitors Who are they: direct or indirect, actual or potential What are they: size, market position (leader, challenger, specialist) What are their resources and positioning (4Ps) • The distributors State: concentrated or spread out Profile: generalists, specialists Strategies: differentiation (from others), own brands The marketing diagnosis: the SWOT analysis • Opportunities & Threats: external factors The market Consumers Competitors Distributors • Strengths & Weaknesses: internal factors The company: history, key figures, activities, key success factors, The brand strategy: the brand on the market, the brand and the consumers, differentiation (notoriety, image, appreciation, satisfaction)

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Business orientation • 3 main objectives, alternative or cumulative Increase sales: volumes, value, market share Increase profit: margin, revenue Customers: notoriety, image, appreciation/satisfaction, client base, frequency Must be clearly stated and measurable • What are the growth sources Direct competition Indirect competition: compete on and outside of the initial market, replace more than one