PPP_Who are 'They'? Market, audience and analysis lecture

• Key principles to understand within marketing 
• Marketing- understand a range of factors that satisfy trends and requirements driven by success
• What is a market?
  "The management process is responsible for identifying, anticipating and satisfying customers requirements, opportunities, profitably and success"
  Chartered Institute of Marketing 2010 
• Based on predicting the market

Marketing Roles

1. Identify customer needs to develop new products
2. Develop pricing strategies
3. Promote products to a target market
4. Identify distribution networks
5. Add value to your product through customer benefits
6. Monitor the performance of the products

The 4 P's

The 4p's- basics of any marketing- produce, price, promotion and place 

• Product
• Price
• Promotion
• Place 

• Product- A product is seen as a item that satisfies what a consumer needs and wants. It is a tangible good or an intangible service.  

• Pricing- the price is the amount a customer pays for the product or the overall cost of a product
• Overall cost could be impact on environment, social and political 

• Promotion- represents all of the methods of communication that a marketer may use to provide information to different parties about the product 

• Place- refers to providing the product at a place or in context 

• Underpins everything in relation to marketing
• Relationship between what is needed for success
• Collaboration- successful practice 
• Comes with a better understanding of the market
• Relationship between studios and freelancing 
• Nearly 70% of professionals operate at a loss or under 5K a year even if the work is busy 

Facts/Percentages
• 87% of design businesses employ less then 10 people
• 16% of design companies are in North England
• 57% of design companies say they collaborate with other companies or practitioners on clients briefs
• 28% of designers are free-lance 

Income patterns in the visual arts

Arts Council 2005

These diagrams and visually informative and reveal the findings of the ways in which artists spend their creative time and also shows their income levels. This may be quite depressing and shocking to use as graphic designers but this also allows us to see and understand the different sectors and the limitations they have in there careers.

• What is a creative entrepreneur?

• Only 16% of adults in Brazil are entrepreneurs. 
• Only 6% of the people in India are entrepreneurs
• United Kingdom the figure is only 5%.
• Need an understanding of all aspects to be successful 
• Knowing you can offer specialism to the market 
• Different ways an entrepreneur can work 
• Comes with experience 
• 5% entrepreneurs in the UK 

What kind of creative are you?

• Thinking about the person I am and the individual skills I have- how can this be applied/developed for the market 

• Evolutionary/revolutionary
• Manager/opportunist 
• Cautious/risk taker 
• Where do you sit in this?

• Ideas and opportunities

“Great minds discuss ideas. 
Average minds discuss events. 
Small minds discuss people” 
Eleanor Roosevelt

• understand and control both for success 
• Great minds discuss ideas 
• Must develop this for successful practice/career 
• Ideas can happen anywhere or at anytime 
• How you act upon these 
• Enthusiastic to push ideas forward- perseverance and work to push them 
• Success comes from ideas failing 
• Opportunity- need to recognise them- come from right situation- grab it 

What is an 'Idea'?

• Can occur at anytime 
• Can occur to anybody 
• Can happen anywhere 
• Can be inspired by anything 
• Is generally random 
• Seldom materialises 
• Rarely succeeds

“In the realm of ideas everything
depends on enthusiasm…
in the real world all rests
on perseverance”
J.W. Von Goethe

What is an Opportunity?

• The People are Right 
• The Place is Right 
• The conditions are Right 
• The Time is Right

• Right place, Right time.
• PEST analysis- political, economic, society, technology 
• Positives and negatives
• All need to be considered and recognised 
• Design strategy 

Where do opportunities come from?

• Trends 
• Technical developments 
• Political change 
• Economic boom and slump 
• Human need 
• Problems 
• Research

Assessing the competition

• Think about competitors and your relation to this 
• Assessing the competition 

• who are they?
• What are their strengths and weaknesses?
•  what haven't they thought of? 
• what worries them? 
• what can I improve on or avoid?

Strengths:

What are they good at?

Why are they good at it?

Weaknesses:

What are they bad at?

Why are they bad at it?

opportunities:

What don't they do?

Why don't they do it?

Threats:

What could go wrong?

Why could they fail?

• SWOT analysis- strengths, weaknesses, opportunities, threats 
• This analysis can also be applied to yourself. Somthign that can look at within any company, service or sector. 
• Competition can become collaboration 

• Internal environment 
• Micro environment 
• Macro environment 
• Assess quality of opportunity 
• For me- for the customer- for the planet- for other stakeholders 
• Relationship between is needed and to be in balance with one another 
• Works in a circle/cycle with the meaning of marketing and its roles first looked at
• Marketing basics: PEST,SWOT, 4P'S