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Chapter 7- Segmentation, Targeting, and Positioning

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Jillian Arsenault

on 14 February 2014

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Transcript of Chapter 7- Segmentation, Targeting, and Positioning

Learning Outcome
#1
Define the major steps in designing a costumer-driven marketing strategy: market segmentation, targeting, differentiation, and positioning.
Learning Outcome #3
Explain how companies identify attractive market segments and choose a market-targeting strategy.
Learning Outcome #4
Discuss how companies differentiate and position their products for maximum competitive advantage.
Chapter 7- Segmentation, Targeting, and Positioning
Learning outcomes
LO1: Define the major steps in designing a costumer-driven market strategy: market segmentation, targeting, differentiation, and positioning.

LO2: List and discuss the major bases for segmenting consumer and business markets.

LO3: Explain how companies identify attractive market segments and choose a market-targeting strategy.

LO4: Discuss how companies differentiate and position their products for maximum competitive advantage.

Learning Outcome
#2
List and discuss the major bases for segmenting consumer and business markets.
Evaluating Segment Markets
Segment size and growth
Segment structural attractiveness
Company objectives and resources

Target Market
A target market consists of a set of buyers who share common needs or characteristics that the company decides to serve.
Undifferentiated Marketing
Differentiated Marketing
Concentrated Marketing
Micromarketing
Local Marketing
Individual Marketing

Socially Responsible Target
Marketing
Helps companies to be efficient and effective
Benefits consumers
Generates controversy and concern
Selecting a target Market Strategy
Companies realize that they cannot appeal to all of the buyers in the martketplace, or at least not to all of them in the same way.
Product Position
The way the product is defined by consumers on important attributes- the place a product occupies in consumers minds relative to competing products
Positioning Map
Shows how consumers perception of their brands versus competing products on important buying dimensions
Companies must identify the parts of the market that it can serve best and most profitably. Companies must design customer-driven marketing strategies so that they can build the right relationships with the right customers.
Major steps of designing a customer driven marketing strategy
Segmentation

Targeting

Differentiation

Positioning
Customer-driven strategies
Create value for targeted customers
Divide the total market into smaller segments
Segmentation
Differentiation
Differentiate the market offering to create superior customer value
Targeting
Select the segment or segments to enter
Positioning
Position the market offering in the minds of target customers
Select customer to serve
Decide on a value proposition
Choosing a Competitive Advantage
A company must decide how many differences to promote and which ones.

Important
Distinctive
Superior
Communicable
Preemptive
Affordable
Profitable

Positioning Strategy
More for more
More for the same
The same for less
Less for much less
More for less
Developing a Positioning Statement
A statement that summarizes company or brand positioning- it takes this form: To (target segment and need), our (brand) is (concept) that (point of difference.)
Segmenting consumer markets
The four variables used are:

Geographic segmentation

Demographic segmentation

Psychographic segmentation

Behavioural segmentation
Geographic Segmentation
Demographic Segmentation
The market is divided into different geographical units, such as nations, regions, states, countries, cities or neighborhoods.
The market is divided into groups based on demographic variables, including age, gender, family size, family life cycle, income, occupation, education, religion, race, generation, and nationality.
Psychographic Segmentation
The market is divided into different groups based on social class, lifestyle, or personality characteristics
Behavioural Segmentation
The market is divided into groups based on consumer's knowledge, attitudes, uses, or responses to a product.
Segmenting Business Markets
Demographics -industry, company size

Customer operating characteristics

Purchasing approaches

Situational factors

Personal characteristics
Full transcript