Question

Marketing Managment B

Minimum 8 Pages

Refrence maximum 10 refrences

The question is

Discuss the models concepts that are used by consultants/companies to scan macro-micro and market enviroments?

Answer 1

The model's concepts that are used by consultants/companies to scan macro-micro and market environment:

Micromarketing: Segmentation

Micromarketing focuses on a small target group in the market. It looks for demographic data to identify a specific type of buyer for a company's product or service. Computers have made this type of segmentation easy to do. A small insurance agency in a large city can target mailers to new parents in specific ZIP codes who have college degrees and make a minimum amount of money. This is an example of market segmentation. Segmentation can also pertain to buying habits, lifestyle choices and hobbies. Business owners who understand buyers are better able to target ads and marketing efforts to them.

Macromarketing: Scaling Up

Macromarketing takes advantage of economies of scale; it looks at the bigger picture targeting the maximum number of people. Macromarketing strategies are concerned with how the product benefits society as a whole or fulfills a need in society. The goal is to assess the buying trends, customer behavior patterns and regulatory environment. Where micromarketing is directed at one segment of the market, macromarketing looks at the whole market. Coke-Cola doesn't target a small number of specific buyers but instead tries to give everyone a reason to buy Coke when making a soft drink choice.

Implementing Strategies

Business owners should start with macro marketing and narrow it down to micromarketing. This means a business owner should first consider the macro marketing environment to determine the viability of products and services before spending time and energy on trying to sell to a specific group. Once the market is defined as viable, business owners can narrow the marketing strategy to smaller microsegments. By partitioning the microsegments, business owners can further test sales performance in both segments to see where products perform better. This is less expensive than sending products out into the entire market and hoping to hit all desired targets.