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Words to Think by...

Words to Think by. “There is a simple way to package information that, under the right circumstances, can make it irresistible. All you have to do is find it.” ― Malcolm Gladwell , The Tipping Point: How Little Things Can Make a Big Difference. The Market and Your Share Of It.

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Words to Think by...

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  1. Words to Think by... “There is a simple way to package information that, under the right circumstances, can make it irresistible. All you have to do is find it.” ― Malcolm Gladwell, The Tipping Point: How Little Things Can Make a Big Difference

  2. The Market and Your Share Of It Words You Need to Know Market: People who share similar needs and wants and have the ABILITY to buy the product or service Consumer Market:Consumers who purchase goods and services for personal use Industrial Market: Referred to as “B2B”, business-to-business. This is when businesses buy products for use in their operations. Market Share:A company’s percentage of TOTAL SALES VOLUME generated by all companies that compete in a given market.

  3. U.S. Smartphone Market Share as of August 8th

  4. U.S. Fast Food Market Share2011

  5. Social Media Market Share- Fast Food Stores

  6. Target Market Target Market- A group identified for a specific marketing program Market Segmentation: The process of classifying customers by specific characteristics. Why do company’s segment their markets?

  7. Identify the Target Market • Campbell’s Soup Ad 1.http://youtu.be/sP8Ju2As3pQ What is There TARGET MARKET? 2. http://youtu.be/17FjB2MGGz4 What is There TARGET MARKET?

  8. The Marketing Mix

  9. The Marketing Mix (a.k.a. The 4 P’s of Marketing) Product Choosing what products to make and sell The rest of product development Product design Features Brand Name Packaging Service Warranty Price What consumers are WILLING and ABLE to pay for the product. Other Components Discounts Allowances to Suppliers Promotional Pricing Credit Terms

  10. The Marketing Mix (a.k.a. The 4 P’s of Marketing) Place The means of getting the product into the customer’s hands Other Components Knowing where your TARGET Market Shops Sold Internationally? Sold over the internet? Sold by catalog order? Sell through a Reseller Promotion Activities related to advertising, personal selling, sales promotion and publicity Other Components What Social Media? Advertising Mix- how much t.v.? What do you say about product/company? Size of Sales Force

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