Ruth Soesanto

1910103029
HOSPAR A

1. Marketing is the action or business of promoting and selling products or services,

including market research and advertising. Marketing is about identifying and meeting
human and social needs. Marketing is both an art and a science, and it results from
careful planning and execution using state-of-the-art tools and techniques. Finance,
operations, accounting, and other business functions won’t really matter without
sufficient demand for products and services so the firm can make a profit. Thus, financial
success often depends on marketing ability. Marketing’s value extends to society as a
whole. Successful marketing builds demand for products and services, which, in turn,
creates jobs.
a) ​Marketing Is an Effective Way of Engaging Customers
It’s important for our business to engage its customers. Marketing is a tool to keep the
conversation going. Engaging customers is different from pushing our offers. Engaging
involves furnishing your customers with relevant information about our products and our
business as well.

b) ​Marketing Helps to Build and Maintain the Company’s Reputation

The growth and life span of your business is positively correlated to your business’s
reputation. Hence, it’s fair to say your reputation determines your brand equity. A
majority of marketing activities are geared towards building the brand equity of the
company. Our business’s reputation is built when it effectively meets the expectations of
its customers. Such a business is considered a responsible member of the community.
The customers become proud to be associated with your products.

c) ​Marketing Helps to Build a Relationship Between a Business and Its Customers

Marketing research segments should be based on demographics, psychographics, and
consumer behavior. Segmentation helps the business meet the needs of its customers
 hence gaining their trust. The product team ensures the business delivers what’s promised
at the right time.

d) ​Marketing Helps to Boosts Sales

e) ​Marketing Aids in Providing Insights About Your Business
f)​ Marketing Helps Your Business to Maintain Relevance
g) ​Etc

2. Goods, Places, Properties Organizations, Services, Events, Persons, Experiences,

Information, Ideas.

3. Value delivery process is traditional view of marketing is that the company makes
something and then sells it, with marketing taking place during the selling process.
Nowadays, in dealing with many different types of people with their wants & needs, a
smart company must create and deliver products for a well-defined target markets. Value
delivery process begins before there is a product, continues through development and
after launch. Instead of focusing only on making and selling, companies now see
themselves as a part of value delivery process.

Value delivery process is a 3 phases to the values and creation and delivery sequence,
which are:
⚬ ​Choosing the value​: segment the market, select target, develop positioning.
⚬ ​Providing the value​: identifying the product specification (price, features)
⚬ ​Communicating the value​: use the internet / sales force to promote the product

4. SWOT analysis is a vital process that helps a business to evaluate its internal and
external environment by identifying strengths, weaknesses, opportunities and threats.
SWOT stands for Strengths, Weaknesses, Opportunities, and Threats. Almost everybody
in the business world is aware of SWOT. While a SWOT analysis is mainly used by the
management, it can be effectively used for marketing and branding as well. The analysis
focuses on identifying the external and internal factors that might affect the future
performance of any business. The four factors mentioned in a SWOT analysis (Strengths,
Weaknesses, Opportunities, and Threats) aim to evaluate the balance between the internal
resources and capabilities of a company and external possibilities and threats.

SWOT identifies the strategies used for creating a specific business model according to
the company’s available resources and capabilities, including the environment in which
the company operates. It views positive and negative factors both inside and outside the
firm, that affect its success. The analysis helps the company forecast or predict changing
trends that benefit the decision-making process of any organization.

• ​Strengths
Internal positive factors. Strengths are the qualities that determine the success of any
organization.

• ​Weaknesses
Internal negative factors. You must be aware that weaknesses are the qualities that hinder
an organization’s productivity and prevent an organization from accomplishing its
mission and reaching its full potential. However, weaknesses are controllable and the
magnitude and impact of the damage can be reduced but to do so, you will first have to
identify your company’s weaknesses.

• ​Opportunities
External positive factors. There are countless opportunities that are present in the
environment within which the organization operates. Companies can always benefit from
such opportunities. The opportunities may arise from the market, competition or
technology.

• ​Threats
External negative factors. Threats are elements of vulnerability that may jeopardize the
reliability and profitability of any business
Some benefits of performing a SWOT analysis include:

a) Cost-effective
We dont require extensive training nor any form of technical skill for conducting a
SWOT analysis. In addition, you don’t require an external consultant. All you need is a
staff member who has prior knowledge of business.

b) Wide Range of Applications

SWOT analysis can be used to conduct competitive analysis, strategic planning or any
other study.

c) Promotes Discussion
SWOT analysis promotes discussion. It is important that you have your employees on the
same page. Every single employee plays an important role in driving an organization to
success.

d) Provides Visual Overview

A SWOT analysis is usually presented as a square, each quadrant representing one factor.
This visual arrangement provides a quick overview of the company’s position and
encourages dialogue.

5. Why its important? When marketers use market segmentation it makes planning campaigns
easier, as it helps to focus the company on certain customer groups instead of targeting the mass
market. Segmentation helps marketers to be more efficient in terms of time, money and other
resources. Market segmentation allows companies to learn about their customers. They gain a
better understanding of customer’s needs and wants and therefore can tailor campaigns to
customer segments most likely to purchase products.

Market segmentation involves dividing a large homogenous market of potential customers into
clearly identifiable segments. Customers are divided based on meeting certain criteria or having
similar characteristics that lead to them having the same product needs. Segments are made up of
customers who will respond similarly to marketing strategies. They share common interests,
needs, wants and demands.
Companies need to identify market segments in order to perform effectively. It is important to
have keen understanding of consumer behavior and careful strategic thinking about what makes
each segment unique & different.
To compete more effectively, target marketing is needed. It requires:
⚬ Identify & profile distinct groups of buyers --> segmentation
⚬ Select one or more market segments to enter --> targeting
⚬ Establish, communicate and deliver right benefits for the company --> positioning

What types of market segments can a company have?

● Geographic – based on land, rural or metropolitan area. (A target audience is divided
based on qualities such as, age, gender, occupation, education, income and nationality.)
● Demographic – based on age, gender, income, occupation, education, nationality. (A
company can segment their market based on consumer’s behaviours. By dividing your
target audience based on their behaviours allows you to create specific messaging that
will accommodate to those behaviours.)
● Psychographic – based on social status, lifestyle-type, personality type. (We can divide a
segment based on their locations, such as town, county, zip code or country. But you can
also identify customers based on the climate they live in or the population density of their
location. Dividing a segment based on the characteristics of their location, allows
marketers to be even more specific with their targeting and messaging.)
● Behavioural – based on intensity of product use, brand loyalty, user behaviours, price
sensitivity, technology adoption. (This form of segmentation is very similar to
demographic segmentation however, it deals with characteristics that are related to
mental and emotional attributes. Psychographic segmentation divides a group of
customers based on their personality traits, values, interests, attitudes and lifestyles.
Demographics as we discussed earlier are much easier to observe than psychographics,
however, psychographics give marketers valuable insights into customers motives,
preferences and needs. By understanding psychographics, marketers can develop content
that is more relatable to their customer segments.)
What are the benefits of market segmentation?
Market segmentation makes it easier for marketing teams to develop highly targeted and
effective marketing campaigns and plans.
● Greater company focus
When a company has identified specific market segments, it helps them to focus on what
segments they want to target with specific products/ services/ content/ blogs and campaigns.
● Better serve a customer’s needs and wants
Having defined segments enables companies to satisfy a variety of customer needs by offering
different bundles and incentives. Different forms and promotional activities will be used for
different segments based on that segments needs/ wants and characteristics.
● Market competitiveness
When a company is focusing on a specific segment, their market competitiveness increases.
● Market expansion
With geographic segmentation as discussed earlier, market expansion is possible immediately.
When a company understands their segments and how to market to a segment in a particular
location, they can expand immediately into another nearby location. If segmentation is based on
demographics, then once the company knows their demographic segment they can expand in that
segment with similar products.
● Targeted communication
Even when product features and benefits are the same, it is important for companies to target
segments with specific communication. The key is to understand your segments and target
communication relevant to them on the relevant platforms.

6. Integrated Marketing is an approach to creating a unified and seamless experience for

consumers to interact with the brand/enterprise; it attempts to meld all aspects of marketing
communication such as advertising, sales promotion, public relations, direct marketing, and
social media, through their respective mix of tactics, methods, channels, media, and activities, so
that all work together as a unified force. It is a process designed to ensure that all messaging and
communications strategies are consistent across all channels and are centered on the customer.
Integrated Marketing is an approach to achieving the objectives of a marketing campaign,
through a well coordinated use of different promotional methods that are intended to reinforce
each other. As defined by the American Association of Advertising Agencies, integrated
marketing communication recognizes the value of a comprehensive plan that evaluates the
strategic roles of a variety of communication disciplines advertising, public relations, personal
selling, and sales promotion and combines them to provide clarity, consistency, and maximum
communication impact.

Most producers dont sell their products directly to customers / users - between them, stands a set
of intermediaries with a variety of functions. Marketing channels are sets of interdependent
organizations participating in the making of product / service available for use / consumption.
• Some titles used to describe these intermediaries are:
⚬ Merchants: Buy and resell the products
⚬ Agents: Search customers & negotiate on the producer's behalf
⚬ Facilitators: Assist in distribution process but do not negotiate purchases
Channels play an important roles in the success of a company & affect other marketing
decisions. Marketing channels is expected to convert potential buyers into profitable customers.
Decisions regarding marketing channels affect long-term commitments with other firms, as well
as a set of policies / procedures. To manage its intermediaries, the firm must decide how much
effort to devote to push and pull
marketing.
● Push Strategy = Use manufacturer's sales force, trade promotion money, or others to
induce
intermediaries to carry, promote, & sell the products.
● Pull Strategy = Manufacturer uses advertising, promotion, or other forms of
communication to persuade customers to demand the product from intermediaries.