Join Drew Boyd for an in-depth discussion in this video Analyzing your market, part of Marketing Foundations.
…Analyzing a market means estimating how many potential customers you might be…able to sell your products and services to.…When analyzing any market, you want to group customers into four types.…First are the customers that already buy from you.…In fact, not only do they buy from you,…they buy exclusively from you, and never from a competitor.…The second group is similar to the first group in that they currently buy your…products and services.…The difference is these customers also buy products from your competitors.…
Why?…That's because for some categories of products, customers want choices.…The clothing market is a good example.…You almost certainly buy your clothes from many different manufacturers of clothes.…The market for food is another example.…The third group of customers are those that buy solely from your competitors, and…never from you.…At least not yet.…And finally, the fourth group of customers are those that don't buy your type of…product from anyone.…We call them non-category users.…
These potential customers are important,…
Author
Drew Boyd
Released
9/20/2014You'll also learn to address tactical challenges and present the plan to get buy-in throughout an organization, from the C-suite to the sales team, as well as use the marketing plan to guide outside agencies and vendors. Finally, you'll learn how to launch the campaign and measure its performance.
- Define marketing in an organization.
- Explain the planning process.
- Determine the scope of a marketing plan.
- Research competition and analyze products.
- Describe how to segment and target customers.
- Explain the 4Ps model.
- Understand and design distribution channels.
- Measure Key Performance Indicators.
Skill Level Beginner
Duration
Views
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Introduction
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Welcome1m 20s
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Understanding Marketing's Role
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Marketing in an organization3m 32s
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Assembling the team3m 32s
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Creating the marketing plan2m 56s
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Analyzing Your Business
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Researching the competition3m 49s
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Analyzing your products3m 19s
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Analyzing your customers3m 47s
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Analyzing the buying process4m 28s
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Analyzing your market4m 15s
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Developing Your Strategy
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Segmenting your customers4m 23s
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Targeting your customers3m 55s
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Positioning your message4m 46s
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Setting goals3m 20s
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Developing the Tactical Phase
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Understanding the 4Ps model2m 50s
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Setting prices4m 11s
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Communicating price3m 5s
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Integrating all four Ps3m 49s
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Aligning the Organization
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Educating the sales team3m 27s
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Guiding vendors and agencies3m 19s
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Launching and Measuring Your Plan
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Budgeting3m 7s
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Conclusion
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Mastering marketing thinking3m 16s
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Next steps4m 14s
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Video: Analyzing your market