chapter7
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The document discusses segmentation, targeting, and positioning in marketing. It defines market segmentation as dividing a market into distinct groups with different needs or characteristics. There are several bases for segmentation, including geographic, demographic, psychographic, and behavioral factors. Effective segmentation requires the segments to be measurable, accessible, substantial, and differentiable. Target marketing involves evaluating segments and selecting target markets, such as undifferentiated, differentiated, concentrated, or micromarketing strategies. Positioning refers to how a product is perceived relative to competitors based on important attributes, and involves communicating unique benefits to customers.
chapter7
- 1. Segmentation, Targeting, and Positioning Building the Right Relationships with the Right Customers
- 2. Definition Market Segmentation: Dividing a market into distinct groups with distinct needs, characteristics, or behavior who might require separate products or marketing mixes. 7 - Goal 2: Understand the major bases for segmentation
- 3. Segmenting Consumer Markets Geographical segmentation Demographic segmentation Most popular segmentation Psychographic segmentation Lifestyle, social class, and personality-based segmentation Behavioral segmentation 7 - Goal 2: Understand the major bases for segmentation
- 4. World region or country Country region City or metro size Density Climate 7 - Geographic Segmentation Variables Goal 2: Understand the major bases for segmentation
- 5. Age Family life cycles Gender Income 7 - Demographic Segmentation Variables Goal 2: Understand the major bases for segmentation Occupation
- 6. Psychographic segmentation Variables Lifestyles Social class Personality 7 -
- 7. Occasions Benefits User Status User Rates Loyalty Status Readiness Stage 7 - Behavioral Segmentation Variables Goal 2: Understand the major bases for segmentation
- 8. Segmenting Business Markets Demographic segmentation Industry, company size, location Operating variables Technology, usage status, customer capabilities Purchasing approaches Situational factors Urgency, specific application, size of order Personal characteristics Buyer-seller similarity, attitudes toward risk, loyalty 7 - Goal 2: Understand the major bases for segmentation
- 9. Segmenting International Markets Geographic segmentation Location or region Economic factors Population income or level of economic development Political and legal factors Type / stability of government, monetary regulations, amount of bureaucracy, etc. Cultural factors Language, religion, values, attitudes, customs, behavioral patterns 7 - Goal 2: Understand the major bases for segmentation
- 10. Requirements for Effective Segmentation Measurable Size, purchasing power, and profile of segment Accessible Can be reached and served Substantial Large and profitable enough to serve Differentiable Respond differently Actionable Effective programs can be developed 7 - Goal 2: Understand the major bases for segmentation
- 11. Target Marketing Target Market Consists of a set of buyers who share common needs or characteristics that the company decides to serve 7 - Goal 3: Know how companies identify and target attractive segments
- 12. Target Marketing Evaluating Market Segments Segment size and growth Segment structural attractiveness Level of competition Substitute products Power of buyers Powerful suppliers Company objectives and resources 7 - Goal 3: Know how companies identify and target attractive segments
- 13. Target Marketing Selecting Target Market Segments Undifferentiated (mass) marketing Differentiated (segmented) marketing Concentrated (niche) marketing Micromarketing (local or individual) 7 - Goal 3: Know how companies identify and target attractive segments
- 14. Choosing a Target Marketing Strategy Considerations include: Company resources The degree of product variability Product’s life-cycle stage Market variability Competitors’ marketing strategies 7 - Goal 3: Know how companies identify and target attractive segments
- 15. Target Marketing Socially Responsible Targeting Some segments, especially children, are at special risk Many potential abuses on the Internet, including fraud Internet shoppers Controversy occurs when the methods used are questionable 7 - Goal 3: Know how companies identify and target attractive segments
- 16. Positioning Positioning: The place the product occupies in consumers’ minds relative to competing products. Typically defined by consumers on the basis of important attributes. Involves implanting the brand’s unique benefits and differentiation in the customer’s mind. Positioning maps that plot perceptions of brands are commonly used. 7 - Goal 4: Realize how companies position their products
- 17. Identifying possible competitive advantages Choosing the right competitive advantage Choosing a positioning strategy Differentiation can be based on Products Services Channels People Image Choosing a Positioning Strategy 7 - Topics Goal 4: Realize how companies position their products
- 18. Market Segmentation How many differences to promote? Unique selling proposition Several benefits Which differences to promote? Criteria include: Important Distinctive Superior Communicable Preemptive Affordable Profitable Identifying possible competitive advantages Choosing the right competitive advantage Choosing a positioning strategy 7 - Topics Goal 4: Realize how companies position their products
- 19. Market Segmentation Value propositions represent the full positioning of the brand Possible value propositions: More for More More for the Same More for Less The Same for Less Less for Much Less Identifying possible competitive advantages Choosing the right competitive advantage Choosing a positioning strategy 7 - Topics Goal 4: Realize how companies position their products
- 20. Developing a Positioning Statement Positioning statements summarize the company or brand positioning EXAMPLE: To (target segment and need) our (brand) is (concept) that (point-of-difference) 7 - Goal 4: Realize how companies position their products
- 21. Communicating the Positioning Companies must be certain to DELIVER their value propositions. Positions must be monitored and adapted over time. 7 - Goal 4: Realize how companies position their products