https://padlet.com/reginamaygray1/8xz5a30hb4bzfadw by Regina Gray and Queenie en-us 2023-04-11 00:34:51 UTC 2023-04-12 14:11:49 UTC hello@padlet.com reginamaygray1 https://padlet.com/reginamaygray1/8xz5a30hb4bzfadw/wish/2549401842 In our own words, the marketing concept aims to satisfy customers of a product / service above all, through delivering the needs and wants to them. By doing so, they also strive in a competitive market.]]> 2023-04-11 00:55:44 UTC https://padlet.com/reginamaygray1/8xz5a30hb4bzfadw/wish/2549401842 reginamaygray1 https://padlet.com/reginamaygray1/8xz5a30hb4bzfadw/wish/2549472554 Businesses satisfy customers through delivering their needs and wants. In order to do so, they need to know who their targeted market is.

Examples:
- Lipstick's main targeted demographic would be women.
- Shaving foam's main targeted demographic would be men.

Demographics of targeted markets could range from gender, age, nationality, income, etc.]]> 2023-04-11 01:55:30 UTC https://padlet.com/reginamaygray1/8xz5a30hb4bzfadw/wish/2549472554 reginamaygray1 https://padlet.com/reginamaygray1/8xz5a30hb4bzfadw/wish/2549517861 Nike is the best selling sports wear brand with an estimated 27.4% market share in the athletic footwear market. Their others competitors include Adidas, Puma, Under Armour, etc. (John Hughes, 2022).

The reason to their success is due to their deep understanding of their customers' needs. They offer direct service where customers can purchase their products in an instant, through retail stores, e-commerce, and third party retailers. This provides an overall better customer experience to satisfy customers and through this, Nike collects valuable data to identify what their customers like and don't like in their products and services. (John Hughes, 2022).]]> 2023-04-11 02:32:46 UTC https://padlet.com/reginamaygray1/8xz5a30hb4bzfadw/wish/2549517861 reginamaygray1 https://padlet.com/reginamaygray1/8xz5a30hb4bzfadw/wish/2549522432 Hughes, J. (2022) Nike Competitor Analysis. Available from: https://businesschronicler.com/competitors/nike-competitors-analysis/ [Accessed 11 April 2023].]]> 2023-04-11 02:36:45 UTC https://padlet.com/reginamaygray1/8xz5a30hb4bzfadw/wish/2549522432 reginamaygray1 https://padlet.com/reginamaygray1/8xz5a30hb4bzfadw/wish/2549525177 Danforth, A. (2019) Nike Shoe Ad. [Behance]. Available from: https://www.behance.net/gallery/79556171/Nike-Shoe-Ad [Accessed 11 April 2023].]]> 2023-04-11 02:39:17 UTC https://padlet.com/reginamaygray1/8xz5a30hb4bzfadw/wish/2549525177 reginamaygray1 https://padlet.com/reginamaygray1/8xz5a30hb4bzfadw/wish/2549537845 Businesses must thoroughly think of who their targeted market is as the customer and consumer may differ and they must satisfy both.

For example, milk powder for babies is produced to meet the needs of babies who consume it, but the targeted market would be parents as they have purchasing power. 

This images shows Enfamil's baby milk powder and how it is marketed to the needs and wants of parents through statements on the packaging such as 'reduce crying in 24 hours', 'brain building', and 'for fussiness, crying, gas & spit-up'.

]]> 2023-04-11 02:48:16 UTC https://padlet.com/reginamaygray1/8xz5a30hb4bzfadw/wish/2549537845 reginamaygray1 https://padlet.com/reginamaygray1/8xz5a30hb4bzfadw/wish/2549539538 Enfamil (2023) Available from: https://images.app.goo.gl/rKPm9U9J7tYrLABw6 [Accessed 11 April 2023].]]> 2023-04-11 02:49:45 UTC https://padlet.com/reginamaygray1/8xz5a30hb4bzfadw/wish/2549539538 https://padlet.com/reginamaygray1/8xz5a30hb4bzfadw/wish/2549543992 According to the market analysis result, find out the people's needs and wants. What basic tools do people need to do something? What tools are more effective when owned?

Examples:
- When people plant a flower in their house, they need the flowerpot, it's necessary, the basic tool used for loading soil.
- When women dress new clothes, if add an accessory, the visual effect will be even more dramatic. It's unnecessary to own an accessory, an accessory is not the basic.

In short, people need to have the necessities in their life and choose the basic items. Then, according to their personality and wishes, they can decide the things whether they want to buy them.]]> 2023-04-11 02:53:20 UTC https://padlet.com/reginamaygray1/8xz5a30hb4bzfadw/wish/2549543992 https://padlet.com/reginamaygray1/8xz5a30hb4bzfadw/wish/2551588214 Starbucks is one of the most recognizable brands in the world. Their brand recognition has reached epic heights thanks to the strength of their marketing and their commitment to keeping their brand consistent.
Both Japan and Britain are world famous for their tea culture, which has developed into a huge coffee market. With a strong tea culture, China has vast potential for coffee consumption and is becoming the largest coffee consumption market in the world. In many large and medium-sized cities in China, the number of professional coffee places is growing at a rate of about 25 percent every year. Just because the Chinese coffee market is in its infancy, the growth rate of coffee consumption in China is phenomenal, which means a huge opportunity has arrived, which means more opportunities, more profit return room. Currently, coffee sales in China are only 70 billion yuan a year, a gap of 930 billion yuan. So the industry has huge potential. Statistics show that annual consumption in mainland China is between 30,000 tons and 40,000 tons at present, but the growth rate of coffee consumption is quite fast, between 10% and 15% per year. Statistics from the International Coffee Organization (ICO) show that with the increase of coffee consumption, China's coffee market will become an important coffee market in the world.]]> 2023-04-12 13:03:14 UTC https://padlet.com/reginamaygray1/8xz5a30hb4bzfadw/wish/2551588214 https://padlet.com/reginamaygray1/8xz5a30hb4bzfadw/wish/2551590043 Starbucks marketing analysis from:
https://coschedule.com/marketing-strategy/marketing-strategy-examples/starbucks-marketing-strategy]]> 2023-04-12 13:04:39 UTC https://padlet.com/reginamaygray1/8xz5a30hb4bzfadw/wish/2551590043 https://padlet.com/reginamaygray1/8xz5a30hb4bzfadw/wish/2551663679 Style, design, quality,  and functionality are the elements shared by the Group's brands and that have led them to achieve global consumer  recognition over time as leaders in the coffee, food preparation, and comfort segments.]]> 2023-04-12 13:57:09 UTC https://padlet.com/reginamaygray1/8xz5a30hb4bzfadw/wish/2551663679 https://padlet.com/reginamaygray1/8xz5a30hb4bzfadw/wish/2551667869 De'longhi brand from:
De'longhi Portfolio | De' Longhi Group - Corporate Website (delonghigroup.com)]]> 2023-04-12 13:59:56 UTC https://padlet.com/reginamaygray1/8xz5a30hb4bzfadw/wish/2551667869