Definition[ edit ] A marketing plan is a comprehensive document or blueprint that outlines a business advertising and marketing efforts for the coming year. It describes business activities involved in accomplishing specific marketing objectives within a set time frame.
Tedlowidentifies four stages in the evolution of market segmentation: The economy was characterised by small regional suppliers who sold goods on a local or regional basis Unification or Mass Marketing s—s: As transportation systems improved, the economy became unified. Standardised, branded goods were distributed at a national level.
As market size increased, manufacturers were able to produce different models pitched at different quality points to meet the needs of various demographic and psychographic market segments.
This is the era of market differentiation based on demographic, socio-economic and lifestyle factors. Technological advancements, especially in the area of digital communications, allow marketers to communicate with individual consumers or very small groups.
This is sometimes known as one-to-one marketing. The practice of market segmentation emerged well before marketers thought about it at a theoretical level.
Retailers, operating outside the major metropolitan cities, could not afford to serve one type of clientele exclusively, yet retailers needed to find ways to separate the wealthier clientele from the "riff raff". One simple technique was to have a window opening out onto the street from which customers could be served.
This allowed the sale of goods to the common people, without encouraging them to come inside. Another solution, that came into vogue from the late sixteenth century, was to invite favored customers into a back-room of the store, where goods were permanently on display.
Samuel Pepys, for example, writing indescribes being invited to the home of a retailer to view a wooden jack. A study of the German book trade found examples of both product differentiation and market segmentation in the s. Contemporary market segmentation emerged in the first decades of the twentieth century as marketers responded to two pressing issues.
Demographic and purchasing data were available for groups but rarely for individuals and secondly, advertising and distribution channels were available for groups, but rarely for single consumers.
Thus, segmentation was essentially a brand-driven process. Smith is generally credited with being the first to introduce the concept of market segmentation into the marketing literature in with the publication of his article, "Product Differentiation and Market Segmentation as Alternative Marketing Strategies.
However, with the advent of digital communications and mass data storage, it has been possible for marketers to conceive of segmenting at the level of the individual consumer.
Extensive data is now available to support segmentation at very narrow groups or even for the single customer, allowing marketers to devise a customised offer with an individual price which can be disseminated via real-time communications. But in spite of its limitations, market segmentation remains one of the enduring concepts in marketing and continues to be widely used in practice.A marketing plan may be part of an overall business monstermanfilm.com marketing strategy is the foundation of a well-written marketing plan.
While a marketing plan contains a list of actions, without a sound strategic foundation, it is of little use to a business. PDF | This report is all about to show a Marketing plan for Nike’s products; with reference to older offerings the report shows the plan that how can Nike offer new products in .
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What is market segmentation? Define target market for your marketing strategy and plan; include psychographic segmentation, demographic segmentation, geographic and price segmentation, and more.
Pricing strategy, sales plan, marketing strategies - learn how to put together a complete marketing plan for your products and services. Market segmentation is the process of dividing a market of potential customers into groups, or segments, based on different characteristics.
The segments created are composed of consumers who will respond similarly to marketing strategies and who share traits such as similar interests, needs, or.