Presentation on theme: "Marketing Sally Williams. Definition To identify customers To identify what those customers need To determine how those needs will be satisfied To communicate."— Presentation transcript:
Definition To identify customers To identify what those customers need To determine how those needs will be satisfied To communicate to the customer that you can meet those needs To meet these customer needs at a profit Observe change and respond to it
Components Market Research Positioning Differentiation Segmentation Distribution Marketing mix Selling
Where are you now? Observe change and respond to it Year on year sales figures Takings v Profit Profit Margin Number of transactions Average Transaction Value (ATV) – Takings divided by number of transactions
Where are you now? Repeat sales Lost sales Customer requests Ratio of new products Sales made online v shop based transactions
The PEST Analysis Political – Mary Portas Review Economic - Recession Social Technological
Exercise Create a quick profile of your customer Who are you aiming to attract to your business? Name, age, location, lifestyle, hobbies, What do they read? Where do they go on holiday? Where else do they shop? What is their income? What car do they drive?
What do you need to know? Who are they? How many of them are there? Where do they live? What will they buy? How much will they pay? How do I find them? What will they respond to?
Segmentation Geography Education Gender Politics Age Income Family Characteristics
Market Research Libraries Internet Questionnaires Product testing Focus groups Experian Mosaic
Comments Need a greengrocer back in the town Better range of mid-range shops e.g. clothing, books, jewellery More modern shops Too many takeaways More variety of restaurant food needed Improvement to shop fronts with a coordinated colour scheme Clean the fascias….Smarten up More co-ordination between shop fronts