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3. DEFINITIONS MARKET STRATEGY PLANNING MARKET STRATEGY SPECIFICATIONS MARKETING MIX

4. DEFINITIONS MARKETING MIXMARKET STRATEGY SPECIFICATIONSMARKET STRATEGY PLANNING
STRATEGY
MARKETING
A strategy that integrates
an organization's marketing
goals into a cohesive whole.
Ideally drawn from market
research, it focuses on the
ideal product mix to achieve
maximum profit potential. The
marketing strategy is set out in
a marketing plan.
MARKETING CONCEPT

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6. MARKETING MIXMARKET STRATEGY SPECIFICATIONSMARKET STRATEGY PLANNING
STRATEGY
It is the process of planning
and executing the conception,
pricing, promotion, and
distribution of ideas, goods,
and services to create
exchanges that satisfy
individual and organizational
objectives.
B
MARKETING CONCEPT

7. MARKETING MIXMARKET STRATEGY SPECIFICATIONSMARKET STRATEGY PLANNING
STRATEGY
As applied to small business,
marketing means identifying
what the customers want and
satisfying this want through
the right product, the right
price, the right location, and
the right information.
B
MARKETING CONCEPT

8. MARKETING MIXMARKET STRATEGY SPECIFICATIONSMARKET STRATEGY PLANNING
MARKETING
B
MARKETING CONCEPT

9. MARKETING MIXMARKET STRATEGY SPECIFICATIONSMARKET STRATEGY PLANNING
MARKETING
The marketing concept
provides a guiding principle to
small business which is
making a match between its
intended customers and its
products or services. To
achieve the desired match,
the following questions must
be answered:
B
STRATEGY

10. MARKETING MIXMARKET STRATEGY SPECIFICATIONSMARKET STRATEGY PLANNING
MARKETING
B
STRATEGY
Who are my customers?
What products or services are
required by my customers?
At what price are the products or
services required?
At what place are the products or
services required?
At what time are the products or
services required?
How do the customers want the
products or services delivered?
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11. MARKETING MIXMARKET STRATEGY SPECIFICATIONSMARKET STRATEGY PLANNING
MARKETING
B
STRATEGY
Devise a marketing strategy
Use marketing research
Develop a marketing mix
Identify the size of the geographic
market area to be served.
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To be able to answer the said
questions, the following must be
undertaken:
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(STEINHOFF AND BURGESS)

12. DEFINITIONS MARKETING MIXMARKET STRATEGY SPECIFICATIONS
MARKET STRATEGY
PLANNING PROCESS
MARKET STRATEGY
PLANNING

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14. DEFINITIONS MARKETING MIXMARKET STRATEGY SPECIFICATIONS
MARKET STRATEGY
PLANNING PROCESS
MARKET STRATEGY
PLANNING It is an activity of a small
business which seeks to find
alternative opportunities and
develop profitable marketing
strategies.

15. DEFINITIONS MARKETING MIXMARKET STRATEGY SPECIFICATIONS
2
MARKET STRATEGY
PLANNING PROCESS
MARKET STRATEGY
PLANNING IDENTIFY STRENGTHS AND
WEAKNESSES OF BUSINESS
ANALYZE EXTERNAL ENVIRONMENT
IDENTIFY ATTRACTIVE MARKET
OPPORTUNITIES
DETERMINE APPLICABLE
MARKETING MIX
DETERMINE SIZE OF MARKET AREA
IDENTIFY TARGET MARKETS
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PROCESS

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17. DEFINITIONS MARKETING MIXMARKET STRATEGY PLANNING
APPLICABLE MARKETING
MIX
TARGET MARKETING
SIZE OF MARKETING AREA
TARGET MARKETING
APPLICABLE MARKETING MIX
SIZE OF MARKETING AREA
MARKETING STRATEGY
SPECIFIES THE FOLLOWING:

18. DEFINITIONS MARKETING MIXMARKET STRATEGY PLANNING
TARGET MARKETING
SIZE OF MARKETING AREA
This refers to the activity that
seeks “to identify a fairly
homogenous or similar group
of customers to whom a
company wishes to appeal.”
APPLICABLE MARKETING
MIX
STEPS

19. DEFINITIONS MARKETING MIXMARKET STRATEGY PLANNING
TARGET MARKETING
SIZE OF MARKETING AREA
Steps under target marketing:
APPLICABLE MARKETING MIX
STEPS
1. IDENTIFICATION OF TARGET MARKET.
2. IDENTIFICATION OF THE
CHARACTERISTICS OF TARGET MARKET.
3. MEASUREMENT OF THE SIZE OF THE
TARGET MARKET AREA.
IDENTIFICATION OF TARGET
MARKET
IDENTIFICATION OF THE
CHARACTERISTICS OF THE
TARGET MARKET
MEASUREMENT OF THE SIZE
OF THE MARKET AREA

20. DEFINITIONS MARKETING MIXMARKET STRATEGY PLANNING
TARGET MARKETING
SIZE OF MARKETING AREA
APPLICABLE MARKETING
MIX
STEPS
IDENTIFICATION OF THE
CHARACTERISTICS OF THE
TARGET MARKET
MEASUREMENT OF THE
SIZE OF THE MARKET AREA
TARGET MARKET
Is the particular market
segment that the company wishes
to serve.
FOR AN
EXAMPLE:
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21. DEFINITIONS MARKETING MIXMARKET STRATEGY PLANNING
TARGET MARKETING
SIZE OF MARKETING AREA
APPLICABLE MARKETING
MIX
STEPS
MEASUREMENT OF THE
SIZE OF THE MARKET AREA
IDENTIFICATION OF
TARGET MARKET
“To be able to serve the target
market properly, its characteristics must
be known by the small business operator.”
Characteristics of the target market:
1. Age
2. Sex
3. Family size
4. Family life cycle
5. Income
6. Occupation
7. Religion
8. Race
9. Nationality

22. DEFINITIONS MARKETING MIXMARKET STRATEGY PLANNING
TARGET MARKETING
SIZE OF MARKETING AREA
APPLICABLE MARKETING
MIX
STEPS
IDENTIFICATION OF
TARGET MARKET
IDENTIFICATION OF THE
CHARACTERISTICS OF THE
TARGET MARKET
To effectively serve the target market, the following
must be known:
1. Number of potential customers.
Knowing the number of potential
customers will provide the means of ascertaining
the most economical approach to reach them.
This will even help in deciding whether or not to
continue adapting the target market.
2. The population growth trend of
the market area
Information about the growth trend of
the market area is very important for the firm. To
most companies, growing markets offer several
advantages. One of them is expanding sales
potential.

23. DEFINITIONS MARKETING MIXMARKET STRATEGY PLANNING
TARGET MARKETING
SIZE OF MARKETING AREA
STEPSSTEPS
IDENTIFICATION OF
TARGET MARKET
IDENTIFICATION OF THE
CHARACTERISTICS OF THE
TARGET MARKET
MEASUREMENT OF THE
SIZE OF THE MARKET AREA

24. DEFINITIONS MARKETING MIXMARKET STRATEGY PLANNING
TARGET MARKETING
SIZE OF MARKETING AREA
STEPSSTEPS
IDENTIFICATION OF TARGET
MARKET
IDENTIFICATION OF THE
CHARACTERISTICS OF THE
TARGET MARKET
MEASUREMENT OF THE SIZE
OF THE MARKET AREA
APPLICABLE MARKETING MIX

25. DEFINITIONS MARKETING MIXMARKET STRATEGY PLANNINGMARKET STRATEGY SPECIFICATIONS
CONTROLLABLE VARIABLES
THE MARKETING MIX
PRODUCT OFFERING
PRICE
PROMOTION
PLACE

26. DEFINITIONS MARKETING MIXMARKET STRATEGY PLANNINGMARKET STRATEGY SPECIFICATIONS
CONTROLLABLE VARIABLES
MARKETING MIX
PRODUCT OFFERING
PRICE
PROMOTION
PLACE
The MARKETING MIX
refers to the combination of the
controllable marketing variables
that a manager uses to carry out
a marketing strategy in pursuit
of the firm’s objectives in a given
target market.

27. DEFINITIONS MARKETING MIXMARKET STRATEGY PLANNINGMARKET STRATEGY SPECIFICATIONS
CONTROLLABLE VARIABLES
THE MARKETING MIX
PRODUCT OFFERING
PRICE
PROMOTION
PLACE
PRODUCT OFFERING
PRICE
PROMOTION
PLACE
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THE MARKETING MIX IS BLENDING OF THE
FOLLOWING CONTROLLABLE VARIABLES:

28. DEFINITIONS MARKETING MIXMARKET STRATEGY PLANNINGMARKET STRATEGY SPECIFICATIONS
CONTROLLABLE VARIABLES
THE MARKETING MIX
PRICE
PROMOTION
PLACE
PRODUCT OFFERING1
The product offering
must provide customers with
value that will be preferred
over the competition. It may
involve a physical good, a
service, or a combination of
both.

29. DEFINITIONS MARKETING MIXMARKET STRATEGY PLANNINGMARKET STRATEGY SPECIFICATIONS
CONTROLLABLE VARIABLES
THE MARKETING MIX
PROMOTION
PLACE
PRICE2
PRODUCT OFFERING
The price is what is
charged for products offered.
The right price must be
determined in relation to
cost of producing and selling
the product. The price of the
competition must also be
considered.

30. DEFINITIONS MARKETING MIXMARKET STRATEGY PLANNINGMARKET STRATEGY SPECIFICATIONS
CONTROLLABLE VARIABLES
THE MARKETING MIX
PLACE
PROMOTION3
PRODUCT OFFERING
PRICE
Promotion refers to communicating
information between the company and potential
buyers to influence buying attitudes and behavior.
Personal sellinga This involves direct
communication between sellers and
potential customers.
Advertisingb
This consists of any form of
paid, non personal presentation of ideas,
goods, or services.
Sales promotionc
This refers to promotion
activities that stimulate interest, trial, or
purchase by final customers.

31. DEFINITIONS MARKETING MIXMARKET STRATEGY PLANNINGMARKET STRATEGY SPECIFICATIONS
CONTROLLABLE VARIABLES
THE MARKETING MIX
PLACE4
PRODUCT OFFERING
PRICE
PROMOTION
This refers to
making products available
in the right quantities and
locations, when customers
want them.

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34. DEFINITIONS MARKETING MIXMARKET STRATEGY PLANNING
TARGET MARKETING
SIZE OF MARKETING AREA
APPLICABLE MARKETING
MIX
STEPS
PUBLISHING FIRM
ELEMENTARY
STUDENTS
HIGH SCHOOL
STUDENTS
COLLEGE
STUDENTS
PROFESSIONALS
IDENTIFIED WITH HIGHLY
DESIRABLE
CHARACTERISTICS
IDENTIFIED WITH
MODERATELY DESIRABLE
CHARACTERISTICS
IDENTIFIED WITH LESS
DESIRABLE
CHARACTERISTICS
IDENTIFIED WITH LESS
DESIRABLE
CHARACTERISTICS
TARGET
MARKET