Entrep

• Marketing mix


  The 'marketing mix' is a foundation model in marketing. The marketing mix has been defined as the "set of marketing tools that the firm uses to pursue its marketing objectives in the target"
• Marketing


  In its broadest sense, marketing is about creating and accumulating customers. Marketing Plans are designed to capture market share and defeat competitors. The marketing function and the marketing mix serve the overall business strategy.
• The 7 Ps of the marketing mix

  • Positioning
  • Product
  • Packaging
  • Place
  • People
  • Promotion
  • Price
• Positioning


  It refers to the place that a brand occupies in the mind of the customer and how it is distinguished from products from competitors. It refers to an overall strategy that "aims to make a brand occupy a distinct position, relative to competing brands, in the mind of the customer".
• Three overlapping objectives of positioning

  • Enterprise perspective
  • Competitive perspective
  • Customer's perspective
• Enterprise perspective


  The enterprise scans the market environment and decides to position itself with products that specifically address the needs of a chosen target market.
• Competitive perspective


  The enterprise has to differentiate and distinguish itself from its competitors.
• Customer's perspective


  The way the customers perceive the enterprise and its products or services in their minds.
• The stronger the overlap is in these 3 perspectives, the more defined the positioning of an enterprise is in the marketplace.
• A Positioning Map can represent products and services together. This permits one to compare these two items in relation to one another.
• Positioning Map


  A great tool to set yourself apart from your competition and to determine where competitors are lagging when looking at what is important to your ideal customer. The main strength of this tool is to help in deciding on a competitive position that enables you to distinguish your products from the offerings of your competition.