Professional Documents
Culture Documents
Identify
the Target
Market
It is converting a There are three points
to remember in product
superior product or service positioning
or service value it ,must be relevant ,it
advantage to a must be unique, and it
must be
market advantage communicated
Mommy Mundo, an online
In the solar industry, three major community of moms, defines the
market segments are target market of their blog and
commercial, residential and events as "active and modern
utilities. In the commercial moms". "Active" refers to being a
segment, different target markets "present", conscious or
can be shortlisted before being intentional parent to one's
chosen. One possible target children while "modern" refers not
market is the supermarket where only to being up-to-date in
cold storage translates to high choices of products, or perhaps
electricity bills monthly. But a use of technology, but also refers
constraint of solar panel to having a progressive mindset
installation is old rooftops, so an always learning and searching for
ideal definition of target market new parenting principles and
are supermarkets with high choosing what will work best for
electricity bills whose life of herself and her family. They
rooftops would be seven years or chose this target market, with
less, or the solar installers might whom they can share information
be blamed for leakages in the and awareness, while also
building from an old roof.. respecting every mom's principles
and parenting style, their
individuality and choices.
Mucho Macho started as a Harbest Agribusiness sells their
barbershop in General Santos City Seeds of Hope vegetable seeds to
targeting stylish millennials in politicians instead of other
2012. The barbershop provides channels. Politicians use the
the services of barbers as well as packaging of these vegetable
stylists. Their expansion to Davao, seeds to print their photo and
which accepted their concept, programs, allowing them to
encouraged them to start increase awareness retention
franchising nationwide. while offering the advocacy of
planting vegetables in backyards.
Below is how Waters Philippines applied framework:
Cultural
Social
Personal
Pyschological
BUYER’S INFLUENCE
01 02 03 04
Situational
Environmental Influences Organizational
Influences
05 06 07
Individual
Interpersonal Influences
Inflluences
Consumer Decision
What is it? Example: Expensive Milktea
Process
ProblemRecognition
The first step in the customer
decision- making process is
My mother spends $10 every
to recognize the problem. weekon drinking milktea. The
Our capacity to spot sums up to 40$ every
problems and address them When making adecision, a person month,480$ a year.
for our customers determines first needs to identify and define the
our success as business problem or need recognition The milktea shop is also
known on their high price and
owners and/or marketers. A
it can also last long about
disparity between one's 48hours.
intended state and one's
actual state of contentment
leads to problem detection.
Consumer Decision
What is it? Example: Expensive Milktea
Process
Newspapers,Onlinearticles.N
Information Search ews, Blogs,Social Media
page.etc
is a multi-stepprocess
thatincludesformulating a E. coli found in milk tea that
A consumer seeks information by killed 1, downed 9 in Iloilo.
search question, selecting asking an employee about a Report from Regi Adosto,
search terms, searching, product. Asking an employee is ABS-CBN News Iloilo.
some situations,evaluating external research.
(Article can be found
sources critically, and, https://news.abscbn.com/nat
inpresenting the search ion/regions/12/07/13/e coll-
method. found-milk-tea-killed-1-
downed9-iloilo)
The 4 Minds What is it? Examples Decision-making
Ideal Point uses the optimal option for the Dream computer Customers measure
customer as a point of set everything against
comparison when evaluating any the ideal.
option
Comercial
Communications is
Communication is vital to
fundamental to the
marketing because it
existence and survival of
brings everyone on the
humans as well as to an
same page.
organization.
IMPORTANCE OF DEVELOPING A BRAND NAME