Marketing Role and Processes
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Your role and the idea of funding a marketing campaign are being challenged by "Its poptart Time" financial adviser, who happens to be a close friend of owner Kiana Peterson. The financial adviser wants to know, step by step, what you are going to do and the benefit of each step.
1. Discuss why marketers focus on processes such as segmenting, targeting, positioning, and differentiation.
2. Using any other materials at your disposal, discuss ways in which consumer-focused companies like Amazon, Starbucks, and Home Depot use these concepts.
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Solution Summary
This solution is comprised of a response of 1000+ words and details each process which marketers focus on such as segmenting, targeting, positioning, and differentiation. It also gives a brief mention of how certain consumer-focused companies use materials in marketing. Four website references are used.
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1. Discuss why marketers focus on processes such as segmenting, targeting, positioning, and differentiation. Using any other materials at your disposal, discuss ways in which consumer-focused companies Amazon, Starbucks, and Home Depot use these concepts.
- This needs to be in 3-6 paragraphs in length (approximately).
In fact, a commonly cited definition of marketing is simply "meeting needs profitably." Thus, the techniques of segmenting, targeting, positioning and differentiation are used to meet the marketing goals, and thus, the organization goals as well.
Let’s look closer at each process or technique through discussion.
a. Market segmentation:
It is the process of splitting customers, or potential customers, in a market into different groups, or segments, within which customers share a similar level of interest in the same or comparable set of needs satisfied by a distinct marketing proposition. For example, marketing proposition; the 'tools' or means available to the organization to improve the match between benefits sought by customers and those offered by the organization so as to obtain a differential advantage. Often referred to as the four P's, this is usually the appropriate mix of product features, price, promotion and place (service and distribution). For the customer, this manifests itself as benefits, costs, relevant images and convenience; in other words, a customer value proposition. (1)
Little of what is best in marketing theory and practice works without correct market segmentation. It is one of the most ...
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