- Marketing research, mapping your market: (chapter 9 – pp. 164-165).
- what information does the bar need, market size, segments, consumer behaviour, market feasibility for new product launches
- where will the information be collected, (primary research, secondary research, outside the organization
- how will the information be collected, sampling and interviewing techniques, consumer panels, interview methods
- how will the information be analysed, depends on how the information is collected
- how will the information be utilized, information should be used creatively to target offering products, eliminate poor selling products
- and focus on more effective promotion for your market.
- SWOT analysis: (chapter 9 – pp. 165).
- SWOT (strengths, weaknesses, opportunities and threats) a form of analysis,
- Strengths and weaknesses are often referred to as internal, opportunities and threats as external.
- S.W.O.T analyzing helps bars to innovate rather than react, Strengths (pub features distinguishing it from others, personal). Weaknesses: (lack of car parking, poor toilets, bad visibility from the road, late bars), Opportunities (new housing areas, factories), Threats (identify changes, closing of factories, competition).
Lesson 9: Sales and Marketing 9.4 Positioning for competitive advantage - Bars cannot appeal to all purchasers in their markets, or at least not all consumers in the
- Same way. The bar owner must carefully design their marketing plans to ensure that they
- complement their bar capacity, capabilities and financial constraints.
- Market Segmentation: (a) studying customer’s characteristics using demographic and
- geographic criteria: customer’s age, sex, religion, occupation, income, etc, (b) studying
- customer’s behaviour, why do they buy our bars products? What attributes of our product are
- important to our customers, why do they buy our products instead of other bars, or indeed vice
- versa.
- The target concept: Once the segmented groups have been identified for your bar, market targeting
- evaluates each market segment’s attractiveness and suggests one or more segments to enter. Much
- depends on company resources, products and its competitive marketing strategies
- Market positioning: Once a company has decided which segment to enter, it must decide on its
- market positioning strategy – on which positions to occupy in its chosen segments.
- Objective for the bar’s marketing message, using AIDA: Attention, interest, desire, action
- Further information: (Chapter 9 – pp.166-167)
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