Marketing - Effective Marketing

What is Marketing?

• Process of identifying + satisfying needs of customers in mutually beneficial exchange process
• Importance of Marketing
  • Understand + meet needs of customer
  • Customer needs change over time
  • Customers more likely to come back and buy more
  • Customers more likely to tell friends etc
  • Customers may become loyal

Marketing Segmentation and Market Research

• Market Segmentation - Classifying groups of people with similar needs and wants
  • Geographic - Location of customers
  • Demographic - Age, Gender, Income, Occupation
  • Psychographic - Personality, Lifestyle
  • Behavioural - Focuses…