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Lecture 4

The document provides an introduction to key concepts for entrepreneurs related to marketing and sales, including target market identification and segmentation, the four P's of marketing (product, price, place, promotion), developing a marketing strategy, and branding. It discusses identifying a target market and segmenting it into groups with common characteristics. It then defines each of the four P's - product, price, place, and promotion - and provides examples for how businesses can implement marketing strategies using these concepts.

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as.stationers.7
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16 views

Lecture 4

The document provides an introduction to key concepts for entrepreneurs related to marketing and sales, including target market identification and segmentation, the four P's of marketing (product, price, place, promotion), developing a marketing strategy, and branding. It discusses identifying a target market and segmenting it into groups with common characteristics. It then defines each of the four P's - product, price, place, and promotion - and provides examples for how businesses can implement marketing strategies using these concepts.

Uploaded by

as.stationers.7
Copyright
© © All Rights Reserved
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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INTRODUCTION TO

ENTREPRENEURSHIP

B.ED 1ST SEMESTER


MARKETING AND SALES

• Target market identification and segmentation


• Four P’s of marketing;
• Developing a marketing strategy
• Branding.
TARGET IDENTIFICATION

• A target market is a unique group of consumers who share common


interests and characteristics that make them more likely to buy a business’
product or service. Before selling its products or services, a business must
first identify its target market. A business can use a variety of methods and
strategies to identify its target market, such as profiling, interviewing and
data tracking.
WHAT IS SEGMENTATION

• Market segmentation is a process that consists of sectioning the target


market into smaller groups that share similar characteristics, such as age,
income, personality traits, behavior, interests, needs, or location. Knowing
your market segmentation will help you target your product, sales, and
marketing methods.
TARGET MARKET IDENTIFICATION AND SEGMENTATION

• Market segmentation and targeting refer to the process of identifying a


company’s potential customers, choosing the customers to pursue, and
creating value for the targeted customers. It is achieved through the
segmentation, targeting, and positioning process.
WHY IS A MARKET SEGMENTATION STRATEGY IMPORTANT?

• Market segmentation allows you to target your content to the right people
in the right way, rather than targeting your entire audience with a generic
message. This helps you increase the chances of people engaging with
your ad or content, resulting in more efficient campaigns and improved
return on investment.
EXAMPLE
FOUR P’S OF MARKETING

• Product
• Price
• Place
• Promotion
PRODUCT

• The product is what your company sells. For example, maybe it is smoothies
from your juice bar or jewelry from your e-commerce store. Or, it can be a
service, like yoga classes or therapy sessions. The product is what you make
available to the consumer. Ideally, your product or service should fulfill an
existing consumer demand.
• Many successful products and services are the first in their category. For
example, Apple was the first company to sell a touchscreen smartphone that
had the ability to do much more than simply make phone calls.
PRICE
• Price is the amount of money you charge customers for the previously
determined product or service. The right price drives up the most amount
of sales and the most profit for your company. The price also must be
related to the product’s real and perceived value.
PLACE

• The third P of marketing is place. This is the place where you should sell
your product and how it should be delivered to the market.
PROMOTION

• The final P of marketing is promotion. Promotion includes all of the


advertising and public relations that make up your promotional strategy for
your product. The goal of promoting your product is to show consumers
why they need it, what problem it will solve for them, and why they should
fork over their hard-earned money for it. What is the best way to reach
your target market? It might be a social media platform.
BRANDING

• Branding in marketing refers to the process of building a positive


perception of your company, products and services, using marketing
communications such as email, social media, print, advertising and more .
EXAMPLE

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