CHAPTER 5: MARKETING: MINDSET, MARKET AND Identify the Target Market

MESSAGE
1. conduct a MOA (Marketing Opportunity
MARKETING Analysis).
• the second gate of the 4-Gate model 2. choose the basic target market strategy:
• involves mindset, market and message, to seize a) pursuing entire markets with one marketing
the golden opportunity chosen. mix,
b) concentrating on one segment,
Marketing vs. Marketing Concepts c) pursuing multiple market segments with
• Marketing multiple marketing mixes.
 is the promotion of business products or
services to a target audience. Creating a Compelling Message
• Marketing concepts Positioning
 is a philosophy that determines what type of - is communicating to overall positive impression of a
marketing tools are used by a company brand, relative to completion. There are three points to
remember in product and service positioning:
Seizing opportunities: What is an opportunity?  It must be relevant
 anything that provides you with a chance to  It must be unique
change your circumstances for the better.  It must be communicated

Opportunity Seizing Marketing Mix

 A thriving business is all about seizing • is the perfect selection of product, place, price
opportunities. and promotion strategies used to have mutually
beneficial exchanges with a target market.
Seizing Opportunities with the Opportunistic
Mindset Role of each Marketing Mix Element

1. Curiosity. Opportunity desires a curious mind that is
always asking deeper and more insightful questions.
2. Generosity. Opportunity desires a generous heart
that is willing to give opportunities to others.
3. Perseverance. Opportunity desires someone who
has determination, who will keep persisting and
persevering despite the seemingly insurmountable
obstacles that stand in their way.
4. Confidence. Opportunity desires a confident
demeanor — someone who never doubts their skills,
strength, resources, and abilities.
5. Optimism. Opportunity desires an optimistic attitude
that does not end if things do not go as expected.
6. Playfulness. Opportunity desires a light-hearted
approach that is willing to be a little creative, willing to
think outside the box, and willing to break conventional
rules.
7. Responsibility. Opportunity desires someone who is
fully committed and responsible for their decisions,
behavior and actions, someone who does not make
excuses or blames others.
8. Hindsight. Opportunity desires someone with
hindsight who can see beyond this fleeting moment into
the future. This person understands that what might look
like a problem now might actually be a once in a lifetime
opportunity.
9. Gratitude. Opportunity desires a grateful spirit that is
thankful for anything that life throws its way, no matter
how dark or grim it might seem on the surface.
Identify the Target Market
target market
 is a defined group most likely to buy a
company's products or services.
1. Product/Service – To satisfy consumer needs and wants.
2. Price – To make product affordable to target consumers
3. Place – To make product available consistent with
consumers; purchasing pattern.
4. Promotions – To build and improve consumer demand.
Promotions have four components called the promotions mix
 Additional components
5. Physical Environment – To create the tangible
expression of the brand engaging the senses through the
layout and images of the services cape.
6. People – To show a living representation of the
brand promise.
7. Process – To experience how the brand delivers
value.
VALUE PROPOSITION
1. SUPERIOR – Better than what’s available: HIGH QUALITY
– HIGH PRICE
2. PARITY – Same as what’s available: SAME QUALITY –
SAME PRICE
3. INFERIOR – Not as good as what’s available: LOWER
QUALITY – LOWER PRICE
4. DIFFERENT – Different from what’s available: Can be
higher or Lower Price
DEVELOP A BRAND NAME
brand name
• is the name that you use to identify the family of
products or services that you offer or a single line of
products or services that you offer.
 Good branding are :
1. easy to pronounce,
2. easy to remember and
3. helps in the brand positioning process