Search Results

The Value Proposition in Action Let’s take a look at some real examples and evaluate them. Are they clear, compelling, and differentiating? Keep in mind that you may not be the target market for all of these examples. Your role as a marketer is to evaluate th...

Step 1: Choose an Organization Choose an organization that does marketing. Use the guidelines below as you make your selection. Make it easy on yourself and choose an organization you’re interested in, and for which you can observe the marketing efforts. If ...

Explain the process of selecting an appropriate segmentation approach and deciding which customer segments to target for marketing activities Now that you’ve learned about common segmentation approaches, how do you know when to apply them? When is geographic ...

Common Approaches to Market Segmentation Segmentation starts by identifying all the potential buyers for your product: individuals with the need and the means to buy what you offer. In most cases, this represents a large universe of people or organizations th...

Describe common segmentation approaches The next section of this module walks through several common approaches to market segmentation. Some approaches will probably seem familiar, or even obvious—like segmenting by gender or income level—but others, like “ps...

What Is Market Segmentation All About? Segmentation helps marketers answer the following set of fundamental questions: To whom should I be marketing? Why them? How can I reach them most effectively? Because marketers have finite resources,...

Explain the purpose of segmentation and targeting in marketing Segmentation and targeting are essential building blocks of marketing because they help marketers answer a basic question: Who am I trying to reach? If you can’t answer this question with a reaso...

Why determine market segments and target customers? Suppose you have just accepted a product marketing job with a technology company called Chumber. You’re excited about the company and the team you’ll be working with. Chumber’s main product is an automated, ...

During this course, you will learn to develop all the essential elements of a Marketing Plan. The purpose of this assignment is to make sure you are familiar with this course’s Marketing Plan Template. It is a well-designed tool for learning and reference abou...

The Four Ps of Marketing Yourself Now that you have a deeper understanding of the marketing function, let’s return to where we began in this module: marketing yourself as a new college graduate in the job market. How can the concepts of the four Ps and the ...

Starbucks is a powerful global brand that brings with it a sense of being cool and new. A stodgy coffeeshop brand in the United Kingdom had to find a different value proposition to convince coffee drinkers that they were worth another try. Watch the video, bel...

The Marketing Plan Effective marketing requires a plan—specifically, a marketing plan. Although customers should be at the center of any marketing plan, marketing activities do not operate in a vacuum. Instead, marketing is one function within a larger organi...

Explain the role of a marketing plan as a guiding document for marketing activities How do organizations use the marketing mix to achieve results? This requires a clear understanding of the results that the organization hopes to achieve and a plan that brings...

In 2005, Turkish immigrant Hamdi Ulukaya bought a yogurt plant from Kraft Foods in Johnston, New York. Ulukaya had a vision of a better product: the thick, rich yogurt he had enjoyed in Turkey but couldn’t find in the United States. The Target Customer Cho...

How does an organization determine the right marketing mix? The answer depends on the organization’s goals. Think of the marketing mix as a recipe that can be adjusted—through small adjustments or dramatic changes—to support broader company goals. Decisions...

Explain how organizations use the marketing mix to market to their target customers Now that we know what tools are available to create value, how can we use them most effectively? In this section we’ll cover a number of examples; later in the course we’ll di...

Product In the marketing mix, the term “product” means the solution that the customer wants and needs. In this context, we focus on the solution rather than only on the physical product. Examples of the product include: The Tesla Model S, a premium electri...

Reaching Customers through the Marketing Mix The value proposition is a simple, powerful statement of value, but it is only the tip of the iceberg. How do marketing professionals ensure that they are reaching and delivering value to the target customer? Take...

Describe the marketing mix The value proposition explains why a consumer should buy a product or use a service and how the product or service will add more value, or better solve a problem, than other similar offerings. Once you get the value proposition righ...

Conducting a Market Segmentation As you have seen, there are many different ways a company can segment its market, and the optimal method varies from one product to another. Good market segmentation starts by identifying the total market for the product: all ...