Segmentation refers to the process by which larger markets are divided into smaller pieces, basing on several meaningful shared and related characteristics. On the other hand, differentiation refers to a process in which products being offered are distinguished from others to make it more eye-catching to a specific target market. Example of differentiation: sneaker shoes for a long time were known to be inexpensive, which consisted rubber soles that do not differ a lot across all brands. Recently, there is an introduction of various brands, which includes basketball shoes, tennis shoes, aerobic shoes, plus many other shoes designed for different events having many special features. Also, non-prescription sun-glasses that were known to be homogenous products have evolved in recent times. Nowadays, there has been introduction of premium and fashion sunglasses that vary features.
Buy Principles of Marketing Segmentation essay paper online
6-step process of product development
Step 1. Research: research is either performance research or market research. Manufacturing of new products or upgrades that are in line with the desires of the consumer are facilitated by market research. Performance research results in product improvements in competitive markets and/or invention of new innovative products. Following this step guides directly to concepts and parameters, which administer the design step.
Step 2. Design step: this step is associated with carrying the concepts to a completed series of drawings, or supplementary media, which manages how to construct a physical prototype in the preliminary design, sets goals for the performance and appearance of the product. As a result, multiple concepts or approaches, which battle typically on general look, may come up. The ultimate blueprint mainly is aimed at how to make the design “manufacturable”. This specifies everything, which is needed to control the production process. Consequently an entire bill of drawings, materials, CADs and plans, which help in sourcing and assembling
Step 3. Design analysis: analyses are created on the design before testing and prototyping. This is to verify performance before building the prototype, thus lowering performance risks and costs associated with the prototype and test.
Step 4, Testing: testing is done on the prototype, and this ensures that working conditions are met before taking the creation into the manufacturing stage. This consists of any renowned examination methodologies and standards in existence for the prototype.
Step 5. Hazard analysis: this is conducted all through the creation course. It is finalized before the item reaches production stage. Its main objective is to recognize all potential safety matters which could be put forward by the item. In case of any, the matter is rectified in the designing of the product
Step 6. Manufacture and release: this is the peak process of the construction process. The product is placed in production.
Strategic linkage defines how management information products are linked together in an organization. Also, it illustrates how each of the levels of organization has influences from others.
Marketing specialists exist between the internal organization and the external organization (Labeled MS on the diagram). His/her role is to link the products been manufactured with the customers.
Steps of personal selling
Step 1. Prospecting and qualifying prospective customers: this is the process of looking and checking for leads, i.e. determining which individuals will become customers. Examples include sales persons seeking names of prospective customers from a wide range of sources.
Step 2. Pre-approach: in this stage, there is collection of as much relevant information as possible before the sales presentation. This is usually carried out on new and regular customers. Examples include sales people trying to understand prospective candidate’s current requirements.
Step 3. Approach: this is done whereby the benefits of a customer are focused on by using the product’s advantages and features. Example is whereby the sales personnel asks open needed questions in an attempt to get additional information about the prospect.
Step 4. Sales presentation: the sales presentation is delivered immediately after the prospect interests has been grasped. This is done to encourage the prospect to share information in order to establish requirements. Example is when the sales persons employ the use of visual and audio presentations, brochures to achieve the prospect.
Step 5. Closing the sale: this is the confirmation of an understanding after the presentation.
Step 6. Follow-up: follow up activities are done to establish long-term business relationship. This is to establish if customer was satisfied, and to check if goods were received in a good condition. For example, this is done by establishing if the customer was satisfied with the product, and checking if the goods were received in a good condition.
Personal selling has its importance in marketing. This concept is the most critical and flexible operation, which gives personal appeals to the customer, thereby customizing the products according to customer’s needs. Also, efforts used in personal selling are not wasted. The probability of winning the customer is high as compared to mass marketing.
Related Free Economics Essays
Most popular orders