Definition[ edit ] Marketing is defined by the American Marketing Association as "the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. From a sales process engineering perspective, marketing is "a set of processes that are interconnected and interdependent with other functions" of a business aimed at achieving customer interest and satisfaction. The Chartered Institute of Marketing defines marketing as "the management process responsible for identifying, anticipating and satisfying customer requirements profitably.
Most marketing textbooks will show the STP as three broad steps. In the following diagram, the three foundation stages of segmentation, targeting and positioning are shown, along with a final implementation stage of marketing mix development.
It is important to understand that the STP process the first three stages is always followed by the development and implementation of a marketing mix.
Therefore, the additional of the fourth stage in the diagram simply highlights the need to effectively execute these strategic decisions. You should note the use of the arrow in the model, which indicates that STP is a sequential process.
The starting point is always market segmentation, which allows the marketer to view different consumer needs and categories in the overall market.
Typically a marketer would look between three to ten market segments when dividing up one particular market.
Based on this market segment analysis and evaluation, the firm will select one or more of the market segments to form part of their marketing program. The market segment that they select is then referred to as a target market. Therefore, a target market is simply one of the many market segments available to the company that the firm has deliberately selected for the purposes of their marketing programs.
After selecting a target market, the organization needs to consider how it will construct its marketing program to achieve success. There are two parts to this as shown in the diagram above.
The first is positioning, which is how the firm wants its products to be perceived understood by consumers in that particular market. For more details, please refer to What is positioning?
Once the desired positioning has been determined an appropriate and supportive marketing mix then needs to be developed and implemented by the firm.
Create Your Own Perceptual Map within a few minutes.International Journal of Engineering Research and Applications (IJERA) is an open access online peer reviewed international journal that publishes research.
Marketing budgets ensure that your marketing plan or campaign is realistically costed. Some pre-budget research into your industry and market, your competitors and your business's historical marketing metrics helps marketing managers make a more informed calculation.
マーケティングキャンパス 基礎から実践までBtoBマーケティングを学ぶサイト. Part II — Individual Habits. Great companies are made up of great individual performers who work well together as a team.
As CEO, you are both the architect of the culture and the central hub in the wheel of information flow that enables the team to function effectively. และจากนิตยสารโลกการค้า ปีที่ 10 ฉบับที่ 94 กุมภาพันธ์ Most marketing textbooks will show the STP as three broad steps.
In the following diagram, the three foundation stages of segmentation, targeting and positioning are shown, along with a final implementation stage of marketing mix development.. It is important to understand that the STP process (the first three stages) is always followed by the development and implementation of a marketing .