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Selection of Markets
Customer Satisfaction
Organizational Objectives
Opportunity Identification
Identifying new types of classes of buyers Uncovering unsatisfied needs of buyers Creating new ways or means for satisfying buyer needs
Opportunity-Organization Matching
Determines whether an identified opportunity is consistent with an organizations business, mission, and competencies SWOT Analysis often employed Financially attractive opportunities are sometimes rejected at this stage due to lack of match
Opportunity Evaluation
Has Qualitative both qualitative & quantitative phases
Evaluates the likelihood of capitalizing on a market niche Quantitative Yields estimates of market sales potential and company sales forecasts
Buyer Type
A Market Consists of
Prospective buyers willing and able to purchase the existing or potential offering of an organization. Focus on Buyers Effective Demand
The breaking down or building up of potential buyers into groups called Market Segments
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2. Helps design marketing programs most effective for reaching homogenous groups of buyers
Differentiable
Substantial
Accessible
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Scientific
Home
School
Market Targeting
Specifying segments to pursue
Organization Differentiated Marketing The organization pursues several different market segments simultaneously
Market
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Market Targeting
Specifying segments to pursue
Market
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Market Sales Potential is a function of: 1. The number of Prospective Buyers (B) 2. The Quantity Purchased (Q) 3. The Price of an Average Unit (P)
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