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Marketing by Mind Map: Marketing

1. Is identifying customers wants and satisfying them profitably

2. The role of the marketing

2.1. Anticiapte changes in customers needs

2.2. Mantain customers loyalty

2.3. Satisfy customers needs

2.4. Identify customers needs

2.5. Gain information about customers

3. Market segmentation

3.1. Benefits

3.1.1. Target market communication

3.1.2. Retain more customers

3.1.3. Enhanced profits for busniess

3.1.4. Gain share of the market segement

3.1.5. Better matching of customers needs

3.1.6. Better opportunuities for growth

3.2. Differnt categories

3.2.1. By use of product

3.2.2. By gender

3.2.3. By lifestyle

3.2.4. By socio-economic group

3.2.5. By age

3.2.6. By region/location

3.3. Is an identifiable sub-group of a whole market in which consumers have similar characteristics or preferences

4. Mass market (MM) and Niche market (NM)

4.1. chracteristics of the product

4.1.1. MM Low-cost operations

4.1.2. NM Expensive products

4.2. competition

4.2.1. MM Many similar products offered by competition

4.2.2. NM Not a lot of similar products

4.3. customers needs

4.3.1. MM Less specific about their needs and wants

4.3.2. NM More specific needs and wants

4.4. size of the market

4.4.1. MM the largest part of the market

4.4.2. NM smaller segment of a larger market

5. Factors which affect the market and make it change

5.1. Busniess competition

5.1.1. Transportation improvements

5.1.2. Internet/e-commerce

5.1.3. Globalisation of markets

5.2. Spending patterns change

5.2.1. Ageing populations

5.2.2. Change in income

5.2.3. Changes in technology

5.2.4. Consumers tastes and fashions change