1. Roles of marketing:
1.1. Identify customers needs
1.1.1. finding out the products, services, prices and where and how the customers would buy good and services
1.2. Satisfy customers needs
1.2.1. customers want the right product in the right place, business should do this in order to sold profitable good and services.
1.3. Maintain customer loyalty
1.3.1. by achiveing customers expectation and they buy continually the same products the business will create a costumer relationship in which there is a communicating between both actors.
1.4. Gain information about customers
1.4.1. one of the most importants roles of marketing, gaining information about customers wants and expectation will help in the market research of why they buy certain thing. This make marketing more effective.
1.5. Anticipate changes in customer needs
1.5.1. when the business identify new trends or gaps in the market this shows that the business can produce goods and services not common.
2. Markets more competitive
2.1. Globalisation makes all the products price increase a lot
2.2. transportations improvements has make it easier to move products from one place to another
2.3. internet make an improvement in many business because the customers have more choices in the market such as buying from overseas business.
3. Market Changes
3.1. Spending patterns
3.1.1. Consumer tastes and fashions change so consumers might want different styles than other years
3.1.2. Changes in technology the big amount of new invents such as ipads, leave behind computer for example don't have high sales
3.1.3. Changes in incomes if the economy is in resesion customers will search chepeast things, if it is the other way expensive product sales will increase.
3.1.4. ageging populations: in the whole world the olders are the biggest amount of population this of course changes the market demands
4. Mass Market
4.1. This market refers to a marketing strategy focused on the entire market. Customers needs and wants are less specific, more general
5. Niche Market
5.1. this market use a strategy that focused on a small sector of a large market, the customers needs and wants are more specific
6. Marketing Segmentation
6.1. What is it?
6.1.1. is an identifiable sub-group of a whole market in which consumers have similar characteristics or preferences.
6.2. Categories
6.2.1. Socio-economic group
6.2.1.1. considering the differents incomes of each customers and the possibilities of buying with that incomes
6.2.2. By age
6.2.2.1. the products bought by different age people of course aren't the same.
6.2.3. By region/location
6.2.3.1. in differents regions of the countries the needs and wants aren't the same for many reasons
6.2.4. By gender
6.2.4.1. some products are bought only by one gender like the shaving razor
6.2.5. By use of the product
6.2.5.1. the same product can have different uses so the promotion will be different
6.2.6. By lifestyle
6.2.6.1. businesses can aim their products at people who enjoy different lifestyles
6.3. Benefits
6.3.1. A business by doing this can identify market gaps, an opportunity to cover needs that aren't being explote
6.3.2. The marketing department could take all this factors into account and produce the best specific product that will get to customer expectations.