Download CIM Revision Cards: Marketing Planning 04/05 by Marketing Knowledge PDF

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Designed particularly with revision in brain, the CIM Revision playing cards supply concise, but primary info to aid scholars in passing the CIM tests as simply as attainable. a transparent, rigorously based format aids the educational approach and guarantees the most important issues are coated in a succinct and available demeanour. The compact, spiral sure layout permits the playing cards to be carried round simply, the content material for this reason constantly being to be had, making them useful assets regardless of the place you're. gains similar to diagrams and bulleted lists are used all through to make sure the most important issues are displayed as basically and concisely as attainable. every one part starts off with a listing of studying results and ends with tricks and advice, thereby making sure the content material is damaged down into plausible options and will be simply addressed and memorised. * Written particularly for revision reasons accordingly simply that includes the most important recommendations that have to be realized * rigorously designed to let issues to be simply extracted and memorised with out clouding them in more details * Accompanies the CIM Coursebook and MarketingOnline web site to supply an entire suite of goods to aid the CIM skills

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E. food, paper, drinks, etc. e. holidays, hairdressing, personal banking/financial services. Sub-classifications of Product Classifications n n n n n n n n Convenience products Shopping goods Speciality goods Unsought goods Business products Process products Plant and equipment Supplies and services 50 Creating a Product Range Components of the product range include the product mix and the product line n The product mix is the total portfolio of product that a company has to offer n The product line is a group of closely related products n Organizations must ensure that they establish the breadth and depth of the product mix n Organizations should ensure that products are compatible with one another and that they meet the needs of increasingly powerful customers n The strategic planning process should enable organizations to reflect on their existing product ranges to ensure that the products fit with one another n The product or service is at the very heart of the organization’s existence, and a structured and analytical approach must be taken when developing a product range.

The basis of this strategy is to promote directly to the suppliers, therefore pushing the products down the line to reach the customers throughout various channel members Profile Strategy – Profiling is the task of building up a fuller picture of the target segments and is achieved by taking a group of what is commonly known as descriptors, based around traditional segmentation criteria. The idea is that while the customer base might have matching demographics, their socioeconomic needs might differ and result in differing customer needs Pull Strategy – this strategy operates in contrast to the push strategy and requires the manufacturer to create a demand for the product through direct communication with the customers.

Customers must need and want the products/ services 2. e. money, resources, etc. 3. Customers must be willing to use their money and resources to buy products 4. They must have authority to buy different products or services! Targeting as a marketing activity Six components of target marketing Options for deciding on target marketing include: 1. 2. 3. 4. 5. 6. e. e. achievable objectives n Incremental budgeting – is where the budget is based upon an incremental rise on budgetary expenditure per year, in line with predicted growth in the forthcoming year n Competitive parity – is where the budget is set, based on spending the same percentage as competitors within the same industry n Judgemental methods – this is where budgets are developed, based upon the judgement of managers most directly involved in the future of the business REMEMBER - You must be able to describe a budgetary process and evaluate it in context of a given scenario!

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