Marketing Philosophies
The three marketing philosophies include product, selling and marketing philosophy. The three marketing philosophies differ in the sense that the selling philosophy assumes that a well trained staff can sell any product, marketing philosophy assumes that selling of a product is determined by the customer’s needs and not the sales department while the product philosophy assumes that a company understands its product better and know which designing will work.
Marketing
tactics
Follow
up- a follow up in the sale of iPhone can be used to implement the selling
strategy as it will build a supportive relationship with its customers by
gaining their trust and eventually high sale (Fifield 129).
Make
buying easy- this tactic will help to implement the marketing philosophy. The
selling of iPhone should not be in a manner which will make the customer to
make unnecessary decisions rather should be designed to suit their needs
(Rogers 292). This tactic will also help in the implementation of the product
philosophy as the company will be able to design the iPhone in a manner in
which will work in the market depending on the customers needs.
Components
of a formal marketing plan
A formal marketing plan
should consist of the following:
·
Market research-this
involves the collection, organization and writing down of the data about the
market researched on. In this research, some areas to be considered include the
market dynamics, customers, suppliers, customers and the current sales in the
market (Fifield 129).
·
Target market- the
market target or niche for your product should be well defined and described.
·
Product- the product
should be well described. How the product relates to the market? What the
market needs and what they use currently should be described.
·
Competition-
competition should be well described with the organization developing its own
unique selling proposition (Rogers 292). What makes the organization stand
apart from competition as well as what competition is doing to branding should
be described?
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·
The market strategies,
pricing strategies, branding, positioning and the marketing goals should also
be included in the marketing plan (Fifield 129).
Components
of the market definition
The definition of
marketing consists of the following components:
·
Consumers- there must
be consumers for a market to exist
·
Product- a market is
where selling and buying of goods and services and this means that there must
be a product for a market to exist.
·
Government regulations-
the purchase and consumption of the products must be authorized or permitted by
the law.
Difference
between multi-segment and single segment strategy
Multi-segment
strategy is a type of business strategy which targets a number of distinct
segments in the same market after which it develops a separate and a distinct
marketing approach for each (Rogers 292). Single segment strategy is a type of business
strategy in which a business identifies one distinct market segment and then
gains strong knowledge on the segment so as to achieve a market presence
through the development of specific marketing mix (Fifield 129). Single segment
strategy is more appealing to a small firm as the firm is able to channel all
its resources to the development of a market presence in that particular market
segment which will then give it a competitive advantage (Rogers 292).
Single
women and especially the young ones are highly appealed by those products or
services which are high in beauty value and those which are up to date with the
current technology. Financially independent single women who are retired are
heavy consumers of beauty products, reading materials and clothes. Directing these
products in a segment with these women would yield high sales. The best promotion strategy to use in order to
reach a single woman with home improvement product is by use of the personal
selling method or the use of sales people where they will have to be persuaded
to purchase the product.
Work cited
Fifield, Paul, Marketing
strategy: the difference between marketing and markets. Butterworth Heinemann, Print. 3rd Edition. 2007.
Pg 129
Rogers, Stuart, Clark, Marketing
strategies, tactics, and techniques: a handbook for practitioners. Greenwood Publishing Group, Print. 2001. Pg
292
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