Sistema Informativo Aziendale, Marketing, Appunti di Inglese

Scarica Sistema Informativo Aziendale, Marketing e più Appunti in PDF di Inglese solo su Docsity! The role of Marketing: The term "market" refers to the group of consumers that may be interested in a product, having the economic and legal power to buy it. Thanks to the marketing, a company is capable of identifying and analyzing the needs of its customers, in order to satisfy them and make a profit. The Steps of Marketing/ Market Reaserch Most companies study the market to find out consumers' preferences and the price they would be prepared to pay; then select their target markets. They use: IDENTIFYING: It’s about answering some certain question, for the Market research. ANTICIPATION: The customers requirements are constantly changing. So anticipation is the ability to anticipate possible changes of customers' needs in the future, in particular they have to guess the Next Best Thing the customers will be wanting. SATISFYING: The marketing process has to attract the consumers, with the purpose to convince them that the product will satisfy their needs or wants. PROFITABILITY: They have to be sure to make profits for the correct operation of the company. So the budget must be sufficient to satisfy every function correctly for archive results. When they know all of those things, they select a potential consumer that will become the center of all the activities of an organization. So the process will be: Research the market, Plan and Develop, Produce the Product, Promote the product, Place the Product and last Price the Product. STP Process: S- SEGMENTATION: The market is divided in segments, to understand the customers better. The segments may be: ● DEMOGRAPHIC: (who?) gender, age, social class, religion, family size,.. ● GEOGRAPHIC: (where?) country, region, urban or rural area,... ● PSYCHOGRAPHIC: (why?) lifestyle, hobbies, interests, values,... ● BEHAVIOURAL: (how?) usage rate, brand loyalty, readiness to buy,... T-TARGETING: Then they examine the categories and decide who to target. This group became the Target market. P-POSITIONING: After we have the target, a company has to position their product in relation to similar competitors’ offers. When I identify the gap in the markets, the company will be able to create and use an appropriate Marketing Mix. The Marketing MIX Based on the 4Ps. They are important for determining how the product will be marketed. For make profits we use 4 elements, which are: ● PRODUCT: The producer has to be careful, because he has to give to the customers what they want. Have to look good, work well, and be different from the other customers. ● PRICE: Have the purpose to make profit. There’s a strategy called “cost-plus- pricing”, that is when all the costs of production and distribution are calculated and then a markup is added. Other strategies consider how much a consumer is willing to pay for a product. ● PLACE: Producers have to be ready to reach the right place, time and the right quantity for customers, by having a good distribution channel. ● PROMOTION: Is the way to share information about the company and in particular about the products. They use i.e. Advertising, special offers such as coupons or vouchers, ecc… all of this for the image of the company. There are 3 extra Ps, in that case relevant for the service sector: ● PEOPLE: The ones who are in contact with the customers can make a positive or negative impression on the customer satisfaction, that’s why the employees have to be trained to be prepared. ● PROCESS: It considers the delivery service and the people who provide it. If it is efficient it’s going to be a good quality service, plus the customer's quality will increase and for sure they will use the service again. ● PHYSICAL EVIDENCE: It’s where the service is being delivered from, important for retailers or restaurants. Plus it’s even important the layout of the shop, by giving the customers positive experience, and making them feel confident of the company. SWOT ANALYSIS: -STRENGTHS -WEAKNESSES -OPPORTUNITIES -THREATS ● STRENGTHS: Is what the company excels, so the resources and the capability that can be used for the development. I.e. be innovative, making unique products, high adaptability or strong leadership. ● WEAKNESSES: When they actually don’t have strengths, so the company is at a disadvantage. ● OPPORTUNITIES: external chances that can improve performances and profits, i.e. technological improvements or the elimination of international trade barriers. ● THREATS: Anything that can negatively affect your business from the outside. i.e consumer taste moving away from what the company is producing, rising cost of material or increasing competition. PRODUCT LIFE CYCLE: There are different phase: 1. Introduction on the Market: Is when a product is ready to be launched on the market, and then they are promoted to create awareness. Here the costs are high and the sales volumes are low 2. Growth: public awareness increases and even the sales volume, so they start to make profits, and it widespread 3. Maturity: Here sales volumes reach the peak, but the competition starts to be intense and they fight to protect their market share. They try to improve the product and in some cases they drop the price due to the competition. 4. Decline: It’s when we get a downturn, so other companies are making better products so the sales volumes decline. They can try to succes again, but if the good fail they will withdraw it from the market.