9CoreElementsofMarketing

TheFrameworkof9CoreElementsofMarketingconsistsofnineinterconnectedelementsthattogethercreateaholisticandeffectivemarketingstrategy.ThesenineelementsaregroupedwithintheSTVTriangle,whichcomprisesthreemainmarketingaspects:Strategy(Mind-Share),Tactic(Market-Share),andValue(Heart-Share).Eachaspectfocusesonmanagingcustomers,products,andbrands.

 

In Customer Management, there are three main elements essential for building a deep understanding of the market and fostering sustainable relationships. The following are the three key elements of customer management.

Segmentation
Market segmentation is carried out to divide the market based on static attributes (such as demographics and geography), dynamic attributes (such as psychographics and behavior), as well as individual personalization. This aims to better understand the different characteristics and preferences of customers, enabling companies to offer more relevant products or services.
Targeting
Once market segments are identified, companies need to select the most promising segments to target. Considerations in targeting include market size and growth, competitive advantages, and the competitive landscape. Effective targeting helps companies focus on customers with the highest potential to generate profits.
Positioning
Positioning aims to create a unique brand image in the minds of customers. By establishing clear differentiation from competitors, companies can build a strong and positive perception among consumers. Effective positioning also involves internalizing the company’s values and delivering clear messages through various communication channels.

In the Product Management stage, there are three main elements essential for developing products that effectively and competitively meet market needs. The three key elements of product management are:

Selling
The sales process includes both direct approaches, such as sales representatives or digital channels, and indirect approaches through partnerships or incentives for retailers. Effective selling requires strategies that reach consumers in the most efficient and persuasive way.
Marketing Mix
The marketing mix consists of four main elements: product, price, place, and promotion. These elements work together to strengthen the product’s position in the market and enhance its competitiveness. A good marketing strategy must effectively balance all four elements.
Differentiation:
Differentiation is the effort to make a product or service distinct and superior compared to those offered by competitors. It can be viewed from three aspects: content (the value offered by the product), context (the way the product is delivered to consumers), and infrastructure (the resources supporting the product, such as technology or distribution).

In Brand Management, there are three main elements essential for building a strong emotional connection with customers. The three key elements of brand management are:

Brand:
A brand is an identity that includes the name, logo, slogan, characteristics, and product packaging design. A strong brand helps create a positive first impression in the minds of consumers and plays a vital role in shaping a consistent company image. A clear brand identity also reinforces positive perceptions in the market and builds customer loyalty.
Service:
The services provided by a company are divided into three main stages: pre-sales services (such as providing information or assisting with the ordering process), during-sales services (ensuring smooth and easy transactions), and after-sales services (offering support after purchase, like customer service). Quality service is essential in building loyalty and delivering a positive experience to consumers.
Process:
The process refers to how a company manages product quality, costs, and delivery to ensure an optimal customer experience. An efficient process ensures that the products or services provided meet customer expectations with consistent quality, cost-effectiveness, and timely delivery.

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