marketing for engineers ch 7
TRANSCRIPT
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Marketing for Engineers
Dr. Karim Kobeissi
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Chapter 7: Customer-Driven Marketing Strategy
- Creating Value for arget Customers
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Introduction
This chapter looks further into key !ustomer-
"riven marketing strategy decisions: dividing
up markets into meaningful customer groups
(segmentation), choosing which customer
groups to serve (targeting), creating market
oferings that best serve targeted customers(diferentiation), and positioning the ofer ings
in the minds of consumers ( positioning).
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# #$ositioning % S$: he Essen!e of
Strategi! Marketing
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Market segmentation is the process
that companies use to divide large
heterogeneous markets into small
markets that can be reached more
eciently and eectively with
products and services that match
their unique needs.
arket !egmentation
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• !egmenting "onsumer arkets
• !egmenting International arkets
• !egmenting #usiness arkets
• $equirements for %ective !egmentation
Market Segmentation
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Market Segmentation
&eographi!segmentati
on
Demographi!
segmentation
$sy!hographi!segmentatio
n
'ehavioralsegmentati
on
Segmenting Consumer Markets
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Market Segmentation
&eographi! segmentation divides the
market into dierent geographical unitssuch as nations& regions& states& counties&
or cities.
Segmenting Consumer Markets
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Market Segmentation
Demographi! segmentation divides the
market into groups based on variables such as
age& gender& family si'e& family life cycle&
income& occupation& education& religion& race&
generation& and nationality.
Segmenting Consumer Markets
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M ar ke t S e g m e n t a t i o n
- (ge an" life-!y!le stage segmentation is
the process of oering dierent products or
using dierent marketing approaches fordierent age and lifecycle groups.
- &en"er segmentation divides the market
based on se) (male or female*.
- )n!ome segmentation divides the market into
a+uent or lowincome consumers.
Segmenting Consumer Markets
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Market Segmentation
$sy!hographi!
segmentation divides
buyers into dierent
groups based on social
class& lifestyle& or
personality traits.
Segmenting Consumer Markets
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Market Segmentation
'ehavioral segmentation
divides buyers into groups based on their knowledge&
attitudes& uses& or responses to a product
• ,ccasions
• #ene-ts sought
• ser status
• sage rate
• /oyalty status
Segmenting Consumer Markets
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arket !egmenta t ion
Multiple segmentation is used to identifysmaller& betterde-ned target groups.
sing ultiple !egmentation #ases
•
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Market Segmentation
$*)+M ,E classi-es every0merican household into 11unique segments organi'edinto 23 dierent socialgroups.
• These groups segmentpeople and locations into
marketable groups of likeminded consumers thate)hibit uniquecharacteristics and buying
behavior based on amultitude of demo ra hic
sing Multiple Segmentation 'ases
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k i
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arke t !egmenta t i on
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arket !egmenta t ion
- )ntermarket segmentation divides
consumers into groups with similar
needs and buying behaviors even
though they are located in dierentcountries.
!egmenting International arkets
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k t ! t t i
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arke t !egmenta t i on
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Market Segmentat ion
• To be useful& market segments mustbe:
*euirements for E/e!tive Segmentation
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Market argeting
• Target market consists of a set of
buyers who share common needs or
characteristics that the company
decides to serve.
Sele!ting arget Market Segments
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M k t t i
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Mar ket ar get ing
• !egment si'e and growth
• !egment structural attractiveness
(!trong 4 5eak "ompetitors&
6igh4/ow Industry 7rowth $ate8*
• "ompany ob9ectives and resources
Evaluating Market Segments
.
M k t ti
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Market argetingarget Marketing Strategies
%)ample of a "oncentrated arketing
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%)ample of a "oncentrated arketing!trategy
%)ample of icro marketing (Individual
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%)ample of icromarketing (Individualarketing*
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Market argeting
n"i/erentiate" marketing targets the
whole market with one o/er.
– ass marketing
–ocuses on common needs rather than
what;s dierent
arget Marketing Strategies
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Market argeting
Con!entrate" marketing targets a small share
of a large market
• /imited company resources
• <nowledge of the market
• ore eective and ecient
arget Market Strategies
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Marketing argeting
Mi!romarketing is the practice of
tailoring products and marketingprograms to suit the tastes of speci-c
individuals and locations
• /ocal marketing
• Individual marketing
arget Market Strategies
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Market argeting
0o!al marketing involves tailoringbrands and promotion to the needsand wants of local customergroups
• "ities
• =eighborhoods
• !tores
arget Market Strategies
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Market argeting
)n"ivi"ual marketing involves tailoring
products and marketing programs to the
needs and preferences of individual customers
• 0lso known as: – ,netoone marketing
– ass customi'ation
– arketsofone marketing
arget Market Strategies
Market argeting
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Market argeting
>epends on:
• "ompany resources
• ?roduct variability
• ?roduct lifecycle stage
• arket variability
•
"ompetitor;s marketing strategies
Choosing a arget Market
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Di/erentiation an" $ositioning
$ositioning maps show consumer
perceptions of their brands versuscompeting products on important
buying dimensions
d i i i
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?roducts ?ositioning ap
Di/ ti ti "
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Di/erentiation an"$ositioning
• Identifying a set of possible
competitive advantages to build aposition
• "hoosing the right competitive
advantages• !electing an overall positioning
strategy
•
>eveloping a positioning
Choosing a Di/erentiation an" $ositioning Strategy
Di/ ti ti "
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Di/erentiation an"$ositioning
Competitive a"vantage is an advantage
over competitors gained by oering
consumers greater value& either through
lower prices or by providing more
bene-ts that 9ustify higher prices.
)"entifying $ossible ValueDi/eren!es an" Competitive
("vantages
Di/ ti ti "
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Di/erentiation an"$ositioning
Identifying a set of possiblecompetitive advantages to
build a position by providingsuperior value from:
Choosing a Di/erentiation an" $ositioning Strategy
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Di/ ti ti "
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Di/erentiation an"$ositioning
Value
$roposition
is the full mi)
of bene-ts
upon which a
brand is
Sele!ting an 1verall $ositioning Strategy
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Examples o Positioning Statements Used by
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Examples o Positioning Statements Used byma!on
"#or $orld $ide $eb users who en%oybooks, ma!on.com is a retail bookseller
that pro&ides instant access to o&er '.'
million books. Unlike traditional book
retailers, ma!on.com pro&ides a
combination o extraordinary
con&enience, low prices, and