Marketing
- Created by: kcford15
- Created on: 25-04-14 16:39
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- Marketing
- The marketing process
- 1. Market research to identify and understand customers
- 2. Developing and testing products and services
- 3. Communicating products and services to customers
- Why bother thinking about marketing?
- Reduce risk of product failure
- understand their customers
- communicate products effectively to encourage customers to buy them
- Keep up to date with market trends so products can continue to meet customer needs
- What is market segmentation?
- A market segment is a group of people with similar characteristics and needs
- Benefits of market segmentation
- Carry out market research
- Tailor products to customer needs
- Target promotions at specific groups
- The marketing process
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