1. How To Plan Your Marketing Strategies By MRJ

9. Analyzing external environment & tomorrow changes Change in marketing approaches Change in technology Technology Control the marketing On product design, pricing, advertising, activities Laws & regulations Needs more advertising to build awareness about product benefit, products modifications to respond Trends against product, change in tastes Social & cultural trends Affect product availability, affect behavior of target customers interruptions in the supply of raw materials, floods, droughts, & cold weather Natural environment put off buying expensive items, pent-up demand interest rates, inflation, unemployment, personal income, saving rates Economic conditions impact specifics Factors

15. Factors to Identify Market Segments - Categorization of customers according to their relationship with products (knowledge, attitude) or response to product characteristics Behavior Ease the customiztion Method of combining geographical data with demographics data to develop profiles of neighborhood segments Geodemographics - Classification of customers on the bases of their psychological makeup, by focusing on: * psychological makeup (including activities, attitudes, interests, opinions, & lifestyles) ** why people behave the way they do (by examining brand preferences, media preferences, reading habits, values, self-concept) Psychographics - Categorization of customers according to geographical location (such as regions, cities, counties or neighborhoods) to customize & sell products meet needs of specific markets (assuming buying behavior influenced by people location) Geographics Poor indicator of behavior Study of statistical characteristics of a population (age, gender, income, race, occupation, ethnic group) Demographics Effects specifics Factors

23. Positioning & the Marketing Environment Target Market Ethics Social responsibility Society Technology Politics Regulation Nature Economics Competition Distribution Price Promotion product