2. The marketing process is a way to discover
unfulfilled customer needs and bring to market
products that satisfy those needs.it is 7’th p of
the marketing mix.
4. A thorough analysis of the situation in
which the firm finds itself serves as
the basis for identifying opportunities
to satisfy unfulfilled customer needs.
In addition to identifying the customer
needs, the firm must understand its
own capabilities and the environment
in which it is operating.
6. Market size and growth
Market segments
Benefits that consumer is seeking, tangible and
intangible.
Retail channel - where does the consumer actually
purchase the product?
7. Consumer information sources - where
does the customer obtain information
about the product?
Frequency of purchase, seasonal factors
8. Quantity purchased at a time
Trends - how consumer needs and
preferences change over time
17. Government type and stability
Social and employment legislation
Tax policy, and trade and tariff controls
Environmental and consumer-protection legislation
Likely changes in the political environment
18. Current and project economic growth, inflation
and interest rates
Unemployment and labour supply
Labour costs
Impact of globalization
Likely changes in the economic environment
19. • Population employment patterns, job market freedom and
attitudes
to work
• Press attitudes, public opinion, social attitudes and social
taboos
• Lifestyle choices and attitudes to these
• Socio-Cultural changes
20. Impact of emerging technologies
Impact of Internet, reduction in communications
costs and
increased remote working
Research and Development activity
Impact of technology transfer
23. One of the most
established brand with a
loyal set of enthusiastic
customers
Requires frequent
repairing.
STRENGHT WEAKNESS
24. Opportunity to develop
its i-tunes & music
player technologies.
A high competition in
technology market &
short lifecycles of
technology.
Opportunities
Threats
25. Once the best opportunity to satisfy
unfulfilled customer needs is identified,
a strategic plan for pursuing the
opportunity can be developed.
29. It is a strategy which involves dividing a
broad market into small sections heaving
similar needs. & thus the heterogenous
market is converted into homogenous
one.
30. 1. Single segment concentration
2. Selective specialization
3. Product specialisation
4. Market specilisation
5. Full market coverage.
31. It includes positioning the product in
consumer’s mind so that it is perceived by
the customers as satisfying his needs better
than the other competitive offerings.
32. It includes:
Product development - specifying,
designing, and producing the first
units of the product.
Pricing decisions
Distribution contracts
Promotional campaign development
33. At this point in the process, the
marketing plan has been developed
and the product has been launched.
Given that few environments are
static, the results of the marketing
effort should be monitored closely.
34. . As the market changes, the marketing
mix can be adjusted to accomodate the
changes. Often, small changes in
consumer wants can addressed by
changing the advertising message.
35. As the changes become more significant, a
product redesign or an entirely new product may
be needed. The marketing process does not end
with implementation - continual monitoring and
adaptation is needed to fulfill customer needs
consistently over the long-term.
