Transcript Marketing Strategy

DO NOW
 The last item you purchased was__________.
 What motivated you to purchase that item?
MARKETING STRATEGY
 A company’s plan that identifies how it will use
marketing to achieve its goals
SLIDE 3
MARKETING STRATEGY
 Marketing planning
 Marketing planning is aimed at satisfying customer
needs better than competitors do.
 Develop a successful marketing strategy
 FIRST - Identify a target market
 THEN – Create a marketing mix
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MARKETING STRATEGY
 Target market – is a specific group of consumers who
have similar wants and needs
 http://appleinccasestudy.weebly.com/apples-target-market.html
 Marketing mix - is the blending of four marketing
elements—product, place, price, and promotion.
https://www.youtube.com/watch?v=JIirzTdaey4
(take notes during video)
(Group Assignment/products that failed/successful)
 Marketing orientation - considers the needs of
customers when developing a marketing mix. ( uses
research)
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UNDERSTAND CUSTOMERS
 Consumer decision-making – Is the specific
sequence of steps consumers follow to make a
purchase
 Buying motives – Are the reasons consumers decide
what products and services to purchase.
 https://www.youtube.com/watch?v=65Vt9nmVYDM
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STEPS IN THE CONSUMER DECISIONMAKING PROCESS
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Recognize a need.
Gather information.
Select and evaluate alternatives.
Make a purchase decision.
Determine the effectiveness of the decision.
Buying Motives
 Final consumers - persons who buy products and services
mostly for their own use.
 Emotional buying motives – are purchases guided based
on feelings, beliefs and attitudes.
 Rational buying motives – are purchases guided based
on facts and logic.
SLIDE 8
How does social media affect
consumers?
 https://www.youtube.com/watch?v=Se12y9hSOM0&fe
ature=youtu.be
 How many water bottles do you use?