Marketing Planning Process, Segmentation and Market Analysis
The Marketing Planning Process
The marketing planning process.
Strategic Marketing (Marketing estratégico)
This phase includes:
- External analysis — to discover the opportunities and threats in the environment and market.
- Internal analysis — assessment of the company’s strengths and weaknesses; to assess whether materials, human resources, knowledge and technology are sufficient to meet the objectives.
- Setting objectives and strategy — objectives are set and the marketing strategy is designed to achieve them.
Operational Marketing (Marketing operativo)
This plan involves:
- Deciding commercial actions to be developed; the company uses four instruments: product, price, distribution and communication.
- Specifying resources needed to implement the plan.
- Implementation, execution, monitoring and control of the plan.
Market Classes and Competition
Classes markets.
- By degree of competition: markets may be of perfect competition or imperfect competition.
- By expansion opportunities:
- Current market — comprising existing customers at the time the analysis is performed.
- Market potential — additional consumers who could be reached to expand the market.
- Market trend — referring to future market developments.
- By purchase reason: consumption markets and industrial markets.
Criteria and Variables of Market Segmentation
Criteria and Variable d d market segmentation.
Demographic Criterion
Different age groups, gender and family circumstances often have different consumption patterns. Demographic variables are commonly used to segment markets.
Geographic Criterion
Residence in a particular region, whether an area is rural or urban, and the size of the place influence consumption patterns; these are variables to segment markets geographically.
Socioeconomic Criterion
The market can be divided according to income level, occupation, education, social class, etc.
Psychographic Criterion
Based on personality factors, lifestyle or values — the characteristics that determine an individual’s consumption preferences.
Purchase Behavior
Consumer behavior is differentiated by frequency and purchase size, the benefits expected from the product or brand, brand loyalty, and similar factors.
Note: All original concepts have been preserved and clarified for readability and correctness.