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Chapter 8

STP
by

Clark Banach

on 17 September 2013

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Transcript of Chapter 8

Segmentation
Targeting
Positioning
strategy
or
objectives

describe
the
segments

evaluate
segments

select
target
market

CONCENTRATED
DIFFERENTIATED
MASS
MARKETING
MICRO
MARKETING
firms target
several
markets
different product
offerings for
each market
single
primary market
segmentation
specific
product to fit
market need
not a
differentiated
market
all persons
are potential
users
vision
mission
value proposition
(consistancy)
POSITION
STRATEGY

3
identify consumer
preferences
of target
2
identify
competitor
postitions
1
consumer
percetion of product or service in relation
to competition
PHSYCHOGRAPHIC
DEMOGRAPHIC
GEOGRAPHIC
BENEFIT
SEGMENTATION
country
region
(ASSISTED BY GIS)
state
city
village
age
education
gender
income
health
educational
hedonic
individuality
prestige
economy
convienence
GEODEMOGRAPHIC
exurban
established
rural
urbans
affluent
retiree
community
bohemians
sofisticated
townhouse
IDENTIFIABLE
RESPONSIVE
REACHABLE
SUBSTANTIAL
PROFITABLE
communication
distribution
postive
reaction to
firms offering
will accept the
firms value
proposition
size
matters
small
segments are
unprofitable
unique
attributes
who is in the
market can be
clearly
defined
the segment
requires a
unique
marketing
mix
segment size
x conversion %
x purchase #
x profit %
- fixed costs
PRICE | VALUE
RELATIONSHIP
SALIENT
ATTRIBUTE
SYMBOL
vehicle
COMPETITION
substitue
compliment
replacement
copy
safe
fast
spacious
sexy
college
reputation
close to
home
scholarship
party
scene
4
identify
desired postion
of brand based
on research
5
monitor and
measure result
of positioning
efforts
individual
customer want
or need
product is
specifically
tailored to
single user
LOYALTY
SEGMENT

somewhat
loyal
customers

loyal
customers

customers
without
loyalty
Full transcript