cbs positioning & segmentation

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Marketing course at Copenhagen Business School

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  • 1. Marketing strategy and planningPositioning, market segmentation and target marketingWeek 39Jacob HolmJacob.k.holm@gmail.com Tlf: 24 42 11 32www.office2go.dk1

2. The marketing management processPart 1:Marketing Strategy Market led strategic management chapter 1 Strategig marketing plannngPart 2: Competitive market analysis The changing market environment chapter 3 Customer analysis chapter 4 Competitor analysis - chapter5 Understanding the organizational resource base chapter 6 Forecasting future demand and market requirements chapter 7Part 3: Identifying current and future competitive positions Segmentation and positioning principles chapter 8 Segmentation and positioning research chapter 9 Selecting target markets chapter 10Part 4: Competitive position strategies Segmentation and positioning principles chapter 11 Competing through the new marketing mix chapter 12Competing trough innovation chapter 13 Competing through superior service and customer relationship chapter 14 Part 5: Implementing the strategy Strategic customer management chapter 15 Strategic alliances and network chapter 162 CSR chapter 18www.Office2go.dk 3. Today subject1. PositioningA further discussion of the subject2. Segmentation Consumer markets Business markets Case: Office2go3. Target marketing3 www.Office2go.dk 4. Positioning >< segmentationCompetitive positioning: Identifying the positioning of competitors to developour own competitive strategyMarket segmentation: Identifying the most productive bases for dividing amarket identifying the customers in different segments and develop segmentdescriptions4 www.Office2go.dk 5. PositioningPositioningPositioning is the act of designing the companys offering and image so that they occupy a meaningful and distinct competitive position in the target customers minds Kotler 1997 Companies >< brandsWhat is needed to create a winning position ?5www.Office2go.dk 6. Positioning Hvilke differentierings-kriterier er relevante Hvilke er de vigtigste for detvalgte segments forbrugere6 www.Office2go.dk 7. Positional strategy how can it help us? Which position in the competitive marketplace do we have today. Which position do we want tomorrow. How do we create an perceptual position map Which criteria do we use for the axes7 www.Office2go.dk 8. How do we build a sustainable advantage ? Build Barriers: Physical: Price leader, superior quality, concession, monopoly Perceptual: Brand value, design perception , Consumer orientation Move position Find a more attractive position segment value, less competition, lowercost, easier to differentiate etc.8 www.Office2go.dk 9. Winning positioningCreate a monopoly!This is done by differentiating their products/brands from other companies Differentiation criteria should meet following criteria:1. Importance2. Distinctive and pre-emptive3. Superior4. Communicable5. Affordable6. Profitable9 www.Office2go.dk 10. Position risk and error Under-positioning: When customers only have a vague idea about the company or itsproducts and dont perceive anything about it. Over-positioning: When customers have a to narrow understanding of the companysproduct or brand. Confused positioning: When a company frequently changes and contradictorymessages. Doubtful positioning: When the claims made for the company, brand or product is notaccepted, whether or not it is true10 www.Office2go.dk 11. Positional strategy Markops11 www.Office2go.dk 12. Positional strategy Markops12 www.Office2go.dk 13. Positional strategy Markops13 www.Office2go.dk 14. Positional strategy Markops14 www.Office2go.dk 15. Positional strategy Markops15 www.Office2go.dk 16. Positioning and Segmentation by President Bush16 www.Office2go.dk 17. Market segmentation and target marketing Market Segmentation is the process by which a market is divided into distinct subsetsof customers with similar needs and characteristics that lead them to respond insimilar ways. Target Marketing requires evaluating the relative attractiveness of various segments in terms of market potential, growth rate, competitive intensity etc. and the firmscapabilities to deliver what each segments wants. This is in chapter 10 which is not inthe syllabus this year.17 www.Office2go.dk 18. Why is segmentation important 1. Increase in competition Information technology Transportation cost are reduced Markets dont develop in the same speed anymore Usage of Brands for line extensions: Easy jet 2. Social and economic forces Increase in disposable income Higher education Easier access to information 3. Trend toward microsegmentation New technology Unit cost down18www.Office2go.dk 19. Consumer Segmentation19 www.Office2go.dk 20. Segmentation and target marketing process Identify a homogenous segment that differ from other segments and specify criteria that define the segment Determine segment size and potential Financial figures in measurable characteristics Check if the segment can be isolated from the remainder of the market. Visualize the market for better understanding Prioritize the segments Target the segment or segments that you want to concur (target marketing) The critical issue is to find an appropriate segmentation scheme that will facilitatetarget marketing, product positioning, and formulation and successful marketingstrategies and programs20 www.Office2go.dk 21. Segmentation in homogeneous andheterogeneous markets Are markets homogeneous or heterogeneous? It is all in the mind of the customer !!!!! homogeneousheterogeneousWater Tap water Bottled water Tele communication2G phoning 3G, Blackberry, IP-Phoning, skypeElectricityYes Or..ShippingIts a container Speed, delivery, security White wall paintYes Coverage, drying time,gloss21 www.Office2go.dk 22. How do we find these homogenouscustomer groups Demographic segmentation To define the target market Geographic segmentationTo create a new view of the market Behavioral segmentationTo position the product Psychographic segmentation To better communicate product Individual segmentationattributes Motivational segmentation22www.Office2go.dk 23. Is it possible to categories homogeneouscustomer segments ? Before 1975: Demographic 1975 -1995: Physiographic (lifestyle): VALS RISK 1995 - 2000: Minerva segmenting 2000 -> Motivational segmentation in the post-modernistic world and microsegmentation23 www.Office2go.dk 24. Demographic segmentation Age Sex Consumer life cycle Income Occupation Education Events Race and ethical origin Subcultures24 www.Office2go.dk 25. Psychographic segmentation VALS 2 The Values and Lifestyles System Three Self-Orientations: Principle orientation:Guided by a belief system Status orientation: Guided by opinions of peers Action orientation: Desire to impact the world around them VALS Groups:- Actualizes (Innovators) Successful consumers - Believers have strong principles and favor provenwith many resources, but are concerned with social issues brandsand are open to change.- Fulfilleds Satisfied, reflective and comfortable, - Strivers Like achievers, but with fewer resources.practical and value functionality They are concerned about the approval of others- Achievers Career-oriented and prefer predictability - Makers Action oriented and tend to focus theirover risk or self discovery energies on self-sufficiency and they will often repair theirthings themselves- Experiences Are impulse, young and enjoy offbeat- Strugglers Concerned of meeting the needs of theor risky experience moment..25 www.Office2go.dk 26. VALS 2 Segmentation System26www.Office2go.dk 27. VALS 2 Segmentation System Segment Lifestyle Characteristics Psychological Characteristics Consumer Characteristics Optimistic Successful, sophisticated Enjoy the "finer things" Self-confident Value personal growth Receptive to new products, technologies, Involved Wide intellectual interests distribution. Outgoing Innovators (8% of pop.) Varied leisure activities Skeptical of advertising Growth oriented Well informed, concerned with social issues Frequent readers of a wide variety of Open to change Highly social publications Little interest in image or prestige Mature Moderately active in community and politics Above average consumers of products for the Satisfied Leisure centers on home home Reflective Thinkers (11% of pop.)Value education & travelLike educational and public affairs Open-minded Health consciousprogramming on TV Intrinsically motivated Politically moderate and tolerant Read widely and often Value order, knowledge, and responsibility Look for value & durability Lives center on career & famly ModerateAttracted to premium products Have formal social relations Goal oriented Prime target for a variety of products Avoid excess change or stimulation Achievers (13% of pop.) ConventionalAverage TV watchers May emphasize work at the expense of DeliberateRead business, news, and self-help recreation In controlpublications Politically conservativeLike the new, offbeat, and risky Extraverted Follow fashion and fadsLike exercise, socializing, sports, and outdoors UnconventionalSpend much of disposable income onConcerned about imageActivesocializing Experiencers (12% of pop.)Unconforming, but admire wealth, power, andImpetuous Buy on impulsefame Energetic Attend to advertisingPolitically apatheticEnthusiastic and impulsiveListen to rock music Buy American Respect rules and trust authority figures Traditional Slow to change habits Enjoy settled, comfortable, predictable existence Conforming Look for bargains Believers (16% of pop.) Socialize within family and established groupsCautious Watch TV more than average Politically conservativeMoralistic27 Read retirement, home and garden, and Reasonably well informedSettled general interest magazineswww.Office2go.dk 28. VALS 2 Segmentation System Segment Lifestyle Characteristics Psychological Characteristics Consumer Characteristics Narrow interests