segmentation, positioning, targeting

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Segmentation

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  • 1. Segmentation, Targeting, and Positioning Building the Right Relationships with the Right Customers Chapter 7
  • 2. Learning Goals1. Learn the three steps of target marketing, market segmentation, target marketing, and market positioning2. Understand the major bases for segmenting consumer and business marketing strategy3. Know how companies identify attractive market segments and choose target marketing strategy4. Realize how companies position their products for maximum competitive advantage in the marketplace 7-2
  • 3. Case Study Procter & Gamble Sells multiple brands Has also identified within the same product different niches within category for a variety of certain segments products Product modifications are useful: Tide offers Brands feature a seven different product different mix of benefits formulations to serve and appeal to different different niches needs segments 7-3
  • 4. Steps in market segmentation, targeting and positioningMarket Segmentation Identify bases for segmenting the market Develop segment profilesTarget Marketing Develop measure of segment attractiveness Select target segmentsMarket Positioning Develop positioning for target segments Develop a marketing mix for each segment 7-4 Goal 1: Learn the three steps of target marketing
  • 5. DefinitionMarket Segmentation: Dividing a market into distinct groups with distinct needs, characteristics, or behavior who might require separate products or marketing mixes. 7-5 Goal 2: Understand the major bases for segmentation
  • 6. Segmenting Consumer MarketsGeographical segmentationDemographic segmentation Most popular segmentationPsychographic segmentation Lifestyle, social class, and personality-based segmentationBehavioral segmentation 7-6 Goal 2: Understand the major bases for segmentation
  • 7. Geographic Segmentation Variables World region Neighborhood or country City or U.S. region metro size State Density City Climate 7-7 Goal 2: Understand the major bases for segmentation
  • 8. Demographic Segmentation Variables Age Occupation Gender Education Family size Religion Family life cycle Race Income Generation Nationality 7-8 Goal 2: Understand the major bases for segmentation
  • 9. Behavioral Segmentation Variables Occasions User Rates Benefits Loyalty Status User Status Readiness Stage Attitude Toward the Product 7-9 Goal 2: Understand the major bases for segmentation
  • 10. Segmenting Business MarketsDemographic segmentation Industry, company size, locationOperating variables Technology, usage status, customer capabilitiesPurchasing approachesSituational factors Urgency, specific application, size of orderPersonal characteristics Buyer-seller similarity, attitudes toward risk, loyalty 7 - 10 Goal 2: Understand the major bases for segmentation
  • 11. Segmenting International MarketsGeographic segmentation Location or regionEconomic factors Population income or level of economic developmentPolitical and legal factors Type / stability of government, monetary regulations, amount of bureaucracy, etc.Cultural factors Language, religion, values, attitudes, customs, behavioral patterns 7 - 11 Goal 2: Understand the major bases for segmentation
  • 12. Requirements for Effective SegmentationMeasurable Size, purchasing power, and profile of segmentAccessible Can be reached and servedSubstantial Large and profitable enough to serveDifferentiable Respond differentlyActionable Effective programs can be developed 7 - 12 Goal 2: Understand the major bases for segmentation
  • 13. Target Marketing Target Market Consists of a set of buyers who share common needs or characteristics that the company decides to serve 7 - 13Goal 3: Know how companies identify and target attractive segments
  • 14. 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 - 14Goal 3: Know how companies identify and target attractive segments
  • 15. Target Marketing Selecting Target Market Segments Undifferentiated (mass) marketing Differentiated (segmented) marketing Concentrated (niche) marketing Micromarketing (local or individual) 7 - 15Goal 3: Know how companies identify and target attractive segments
  • 16. Choosing a Target Marketing Strategy Considerations include: Company resources The degree of product variability Products life-cycle stage Market variability Competitors marketing strategies 7 - 16Goal 3: Know how companies identify and target attractive segments
  • 17. 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 - 17Goal 3: Know how companies identify and target attractive segments
  • 18. PositioningPositioning: 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 brands unique benefits and differentiation in the customers mind. Positioning maps that plot perceptions of brands are commonly used. 7 - 18 Goal 4: Realize how companies position their products
  • 19. Choosing a Positioning Strategy Topics Differentiation can be based onIdentifying possible Products Servicescompetitive advantages