Marketing Environmental Scan: Identifying Opportunities
Market Needs and Wants: Understanding Customer Desires
• Customers have specific needs and wants that must be understood by marketers
• Companies must identify and understand these desires to create products that meet or
exceed them
• This requires research and analysis of customer behavior, wants, and needs
Product Variants: Successful Companies and their Offerings
• Successful companies offer a variety of products to meet the needs and wants of their
customers
• These product variants may include different sizes, colours, features, or price points
• By offering a range of products, companies can appeal to a wider audience and increase
their market share
Market Darwinism: The Evolution of Customer Preferences
• Customer preferences are constantly evolving and changing
• Marketers must stay up to date with these changes and adjust their strategies
accordingly
• This requires ongoing research and analysis of market trends and customer behavior
Product Research and Developing a Viable Offering
• Companies must conduct research to identify market opportunities and develop
products that meet customer needs and wants
• This may involve gathering data through surveys, focus groups, or interviews
• Once research is complete, companies can develop a viable product offering and bring
it to market
Marketing Mix: Ensuring Customer Proactivity in Desiring Products
• The marketing mix includes the four Ps: product, price, promotion, and place
• By using the marketing mix effectively, companies can ensure that their products are
desirable to customers
• This requires proactive marketing strategies that engage customers and encourage them
to purchase the product
Market Needs and Wants: Understanding Customer Desires
• Customers have specific needs and wants that must be understood by marketers
• Companies must identify and understand these desires to create products that meet or
exceed them
• This requires research and analysis of customer behavior, wants, and needs
Product Variants: Successful Companies and their Offerings
• Successful companies offer a variety of products to meet the needs and wants of their
customers
• These product variants may include different sizes, colours, features, or price points
• By offering a range of products, companies can appeal to a wider audience and increase
their market share
Market Darwinism: The Evolution of Customer Preferences
• Customer preferences are constantly evolving and changing
• Marketers must stay up to date with these changes and adjust their strategies
accordingly
• This requires ongoing research and analysis of market trends and customer behavior
Product Research and Developing a Viable Offering
• Companies must conduct research to identify market opportunities and develop
products that meet customer needs and wants
• This may involve gathering data through surveys, focus groups, or interviews
• Once research is complete, companies can develop a viable product offering and bring
it to market
Marketing Mix: Ensuring Customer Proactivity in Desiring Products
• The marketing mix includes the four Ps: product, price, promotion, and place
• By using the marketing mix effectively, companies can ensure that their products are
desirable to customers
• This requires proactive marketing strategies that engage customers and encourage them
to purchase the product
