Chapter 5: Marketing, Mindset, Market, and Message

• Marketing is the promotion of business products or services to a target audience. It is, in short, an action taken to bring attention to a business' offerings; they can be physical goods for sale or services offered.
• An opportunity is anything that provides you with a chance to change your circumstances for the better.
• Curiosity. Opportunity desires a curious mind that is always asking deeper and more insightful questions.
• Generosity. Opportunity desires a generous heart that is willing to give opportunities to others.
• Perseverance. Opportunity desires someone who has determination, who will keep persisting and persevering despite the seemingly insurmountable obstacles that stand in their way.
• Confidence. Opportunity desires a confident demeanor — someone who never doubts their skills, strength, resources, and abilities.
• Optimism. Opportunity desires an optimistic attitude that does not end if things do not go as expected.
• Playfulness. Opportunity desires a light-hearted approach that is willing to be a little creative, willing to think outside the box, and willing to break conventional rules.
• Responsibility. Opportunity desires someone who is fully committed and responsible for their decisions, behavior and actions, someone who does not make excuses or blames others.
• Hindsight. Opportunity desires someone with hindsight who can see beyond this fleeting moment into the future. This person understands that what might look like a problem now might actually be a once in a lifetime opportunity.
• Gratitude. Opportunity desires a grateful spirit that is thankful for anything that life throws its way, no matter how dark or grim it might seem on the surface.
• A marketing strategy is selecting and describing one or more target markets that a company's product or service will identify for business opportunities
• A target market is a defined group most likely to buy a company's products or services
• The first step is to conduct a MOA (Marketing Opportunity Analysis).
• Positioning is communicating to overall positive impression of a brand, relative to completion.
• A marketing mix is the perfect selection of product, place, price and promotion strategies used to have mutually beneficial exchanges with a target market.
• Product Strategies - The heart of the marketing mix is of course the product or service.
• Place strategies - are all about making the product or service available to the consumers when they want and need them.
• SERVICES MARKETING MIX (1E 6P) (PLACE, PRICE, PROMOTION, PRODUCT/SERVICE, ENVIRONMENT, PEOPLE, PROCESS)
• Product/Service – To satisfy consumer needs and wants.
• Price – To make product affordable to target consumers
• Place – To make product availableconsistent with consumers; purchasing pattern
• Promotions – To build and improve consumer demand
• Environment – To create the tangible expression of the brand engaging the senses through the layout and images of the services cape.
• People – To show a living representation of the brand promise.
• People – To show a living representation of the brand promise.
• VALUE PROPOSITION (SUPERIOR, PARITY, INFERIOR, DIFFERENT)
• SUPERIOR – Better than what’s available: HIGH QUALITY – HIGH PRICE
• PARITY – Same as what’s available: SAME QUALITY – SAME PRICE
• INFERIOR – Not as good as what’s available: LOWER QUALITY – LOWER PRICE
• DIFFERENT – Different from what’s available: Can be higher or Lower Price
• brand name - is the name that you use to identify the family of products or services that you offer or a single line of products or services that you offer.