Class notes
Fiches Marketing Master
- Course
- Institution
Detailed sheet grouping the entire Marketing program in Master 1 in Business School.
[Show more]
Seller
Follow
pkoodun
Content preview
FICHE MARKETINGHOW ATTRACTIVE IS THE MARKET?
➔ Look at : market size, market and submarket
growth and sensitivity to economic and seasonal
MARKETING PLAN – CHAP 1 → COMPANY trends.
Corporate Strategy : specifying organisation’s mission; defining
1) Market size
organisation objectives; portfolio of activities for the
organisation, allocation of resources across the whole It impacts the attractiveness of the market. The size of
organisation. IT GUIDES, COORDINATES & CONTROLS market also helps in determining market share. Determining
Marketing strategy : defining and selecting markets and the market size also allows managers to distinguish between
segments, market positioning, developing a sustainable the penetrated market (the set of consumers who are buying
competitive advantage IT INFORMS AND ACHIEVES the company’s product) and the potential market (this is the
corporate strategy. maximum of what would be feasible).
Corporate objectives: they can be regrouped in 4 categories : a. Potential market
financial, customer-oriented, innovation (% of successful
introduction, turnover from new products, nb of concrete Estimated maximum total sales revenue reachable by all
product dev) and efficiency/internal (overhead cost, suppliers of a product/service in a market during a certain
liquidity, employee satisfaction, social and ethical period for a given marketing environment. Market potential =
behaviour…). max (how many * how much * how often)
WHAT IS A MARKET?
→ a group of individuals or organization (buyers) having the
willingness and ability to buy goods or services to satisfy a
particular class of wants or needs.
ex: Pepsi = PRODUCT DEFINITION OF THE MARKET is
“carbonated soft drink”. NEEDS DEFINITION OF THE
MARKET is “Quench their thirst”.
• The Need/Solution approach to define the market
➔ To the buyer, the product is what it does. What
is sought is a “solution to a problem” because
customers have a NEED. Different technologies
b. Saturation, penetration & share
can produce the same function. Moreover,
technologies are fast changing, while generic Market saturation rate = (actual total sales of all suppliers of a
needs are rather stable. product)/market potential for this product
3 DIMENSIONS FOR DEFINING THE MARKET: Market penetration rate = company’s total sales in the
market/market potential for this market
- What is being satisfied? What are the solutions
sought/needs in a given market? Market share= % of all sales within a market that is held by
- Who is being satisfied? Who are the different one brand/product or company
groups of customers searching for these solutions? General → company own sales/total sales of all companies in
- How buyers’ needs are satisfied? What are the the market
alternative technologies available to produce these Relative → market share of the Cie/market share of its major
solutions? competitor(s)
, performance checks of products, campaings… for internal
research.
PROCESS:
1) Formulate the pb & determine research obj
A pb well defined is often a pb half solved. Being specific is
key. Take care of the formulation of the pb.
2) Deter the sources of info
When talking about unit sales, profits, market share… be 3) Choose mist appropriate data collection methods
precise by defining : the product class (computers), sub-
product class (laptop), product brands (dell), geographical
area.
c. Market and submarket growth
Market growth is a very important criterion. Increased sales
may be expected with a stable market share in a growing
market. If market sales decline, competitors may leave the SURVEY RESEARCH
market. If the aggregate market size declines, there may be
submarkets that grow. When examining market growth, the Sample: who, size, representative
product life cycle should be considered: Legth: nb of questions
Method: online/offline
Reliability/Validity
Closed-ended questions → limited nb of options, often using
scales
Open-ended questions → respondent is free to choose the
answer (no limitation), potentially more valid, often used as
opening and/or closing questions, important to create
sufficient space to respond but not too much.
Beware of errors!!
4) Collect the data
5) Analysis and interpretation
SENSITIVITY TO ECONOMIC AND SEASONAL TRENDS 6) Recommendations & managerial implications.
Markets in which sales are very sensitive to economic or
seasonal trends tend to be less attractive than markets in
which this is not the case. Sensitivity to economic trends CONSUMER BEHAVIOUR
occurs especially with luxury goods & durable consumer
Consumer behaviour reflects the totality of consumer’s
goods (>3 years).
decisions with respect to the acquisition, consumption and
PESTEL ANALYSIS: disposition of goods, services, activities, people, etc by human
decision-making units over time.
CHAPITRE 2 – MARKETING RESEARCH
Managers must make informed decisions which must be :
objective, reliable, accurate and complete, but also timely, • Acquisition refers to activities leading up to and
cost effective and relevant. including the purchase or receipt of an offering.
MARKETING RESEARCH WHAT FOR? → to understand • Consumption :
existing customers, identify potential custimers, identify - Usage : how, where, when, and under what
business opportunities, idea evaluation (pre/post launch), for conditions are offerings being consumed.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller pkoodun. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $7.07. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
62890 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now