Chapter 7: Target Markets: Segmentation and Evaluation
... Caution 1: no one has yet been able to create a formula that guarantees accurate output Caution 2: correlation does NOT equal causation ...
... Caution 1: no one has yet been able to create a formula that guarantees accurate output Caution 2: correlation does NOT equal causation ...
marketinginsights
... SEGMENTATION – identifying meaningfully different groups of customers TARGET – selecting which segments to serve POSITIONING - implementing chosen image and appeal to chosen segment DISCUSS: What does it mean that “You can’t be all things to all people.” How might that relate to profit? ...
... SEGMENTATION – identifying meaningfully different groups of customers TARGET – selecting which segments to serve POSITIONING - implementing chosen image and appeal to chosen segment DISCUSS: What does it mean that “You can’t be all things to all people.” How might that relate to profit? ...
ib-intl-mkting
... • Longer production runs • Standardized advertising, promotional materials, and sales training ...
... • Longer production runs • Standardized advertising, promotional materials, and sales training ...
Unit 03 - Introductory presentation New
... The Marketing The Marketing Mix Mix Product Promotion Direct mail with samples and coupons, sponsorship ...
... The Marketing The Marketing Mix Mix Product Promotion Direct mail with samples and coupons, sponsorship ...
PowerPoint - Segmentation & Consumer Profiling
... decisions and behaviors these different people do • As a marketer, the more we know about our potential customers, the better we are able to anticipate or influence their buying decisions ...
... decisions and behaviors these different people do • As a marketer, the more we know about our potential customers, the better we are able to anticipate or influence their buying decisions ...
1 - JustAnswer
... Distributors are used for several reasons. Sometimes they offer small businesses a way to better sell their products throughout geographic regions that the business alone could not reach because the distributer has more extensive shipping or retail connections. Sometimes they make it easier for a se ...
... Distributors are used for several reasons. Sometimes they offer small businesses a way to better sell their products throughout geographic regions that the business alone could not reach because the distributer has more extensive shipping or retail connections. Sometimes they make it easier for a se ...
Elasticity of Demand (Ed)
... A subsidy is a grant of money made to a particular industry by the government. o This will cause the supply to increase in the amount of the subsidy. o It will benefit buyers with lower prices and sellers with extra revenue. o Tax dollars are used to pay for this. o Some see this as a barrier to tra ...
... A subsidy is a grant of money made to a particular industry by the government. o This will cause the supply to increase in the amount of the subsidy. o It will benefit buyers with lower prices and sellers with extra revenue. o Tax dollars are used to pay for this. o Some see this as a barrier to tra ...
Let Your Target Market Drive Your Marketing Plan
... o compete successfully in today’s competitive and volatile gaming industry, casinos need to grow their customer base. And there are only three ways to grow your business. One way is to optimize the value of your current customer, including growth and retention of high-end customers. Although gaming ...
... o compete successfully in today’s competitive and volatile gaming industry, casinos need to grow their customer base. And there are only three ways to grow your business. One way is to optimize the value of your current customer, including growth and retention of high-end customers. Although gaming ...
Identifying Market Segments
... customers who share a similar set of wants. Segment differ from sector The marketer’s task : Identify the segment and decide which one (s) to target. The benefits : Can create a more fine tuned product or ...
... customers who share a similar set of wants. Segment differ from sector The marketer’s task : Identify the segment and decide which one (s) to target. The benefits : Can create a more fine tuned product or ...
krugman ir micro module 30.indd
... also some examples of price discrimination that is illegal, but is not prosecuted. This can make dealing with student “But what about . . .” questions tricky and potentially entangling and time consuming. Try to harness student interest in the topic without becoming swamped by the complexity of the ...
... also some examples of price discrimination that is illegal, but is not prosecuted. This can make dealing with student “But what about . . .” questions tricky and potentially entangling and time consuming. Try to harness student interest in the topic without becoming swamped by the complexity of the ...
No Slide Title
... Selective Retention – consumers likely to remember good points of products they like and forget good points of competing products e.g. a user may remember that Pears soap is the only soap good for dry skin though in the market Dove and Mysore Sandal Gold is also good for dry skin ...
... Selective Retention – consumers likely to remember good points of products they like and forget good points of competing products e.g. a user may remember that Pears soap is the only soap good for dry skin though in the market Dove and Mysore Sandal Gold is also good for dry skin ...
Pricing Products
... establish a balance of price with product or service value based on consumer’s perceptions of that value. – The product or service to be cheap? – The product or service to be expensive? – The product or service to be too expensive, so expensive that you will not consider buying it? – The product or ...
... establish a balance of price with product or service value based on consumer’s perceptions of that value. – The product or service to be cheap? – The product or service to be expensive? – The product or service to be too expensive, so expensive that you will not consider buying it? – The product or ...
Core Concepts of Marketing
... individuals and groups obtain what they need and want through creating, offering and exchanging products of value with others. ...
... individuals and groups obtain what they need and want through creating, offering and exchanging products of value with others. ...
Chapter 18 Market Testing
... • Full record of 95 percent of all store sales of tested items from the check-out scanners • Immediate stocking/distribution in almost every store is assured by the research firm. Result: IRI knows almost every stimulus that hits each individual family, and it knows almost every change that takes pl ...
... • Full record of 95 percent of all store sales of tested items from the check-out scanners • Immediate stocking/distribution in almost every store is assured by the research firm. Result: IRI knows almost every stimulus that hits each individual family, and it knows almost every change that takes pl ...
Marketing & Sales - Stevens Institute of Technology
... chosen target customers? If not, what changes should they make? What are the positives-and-negatives of HubSpot’s software-as-a-service pricing strategy? What benefits would undertaking some outbound marketing have for HubSpot? What outcomes, if any, could outbound marketing deliver better than inbo ...
... chosen target customers? If not, what changes should they make? What are the positives-and-negatives of HubSpot’s software-as-a-service pricing strategy? What benefits would undertaking some outbound marketing have for HubSpot? What outcomes, if any, could outbound marketing deliver better than inbo ...
ch12.slides.4e.MEAPSA.ward
... • Often, the branded-drug maker sues the generic entrant for violating its patent • In the patent dispute settlement negotiations, the branded-drug maker offered to pay the generic entrant $10 million to stay out of the industry • Why would the branded drug offer to pay the generic drug to stay out ...
... • Often, the branded-drug maker sues the generic entrant for violating its patent • In the patent dispute settlement negotiations, the branded-drug maker offered to pay the generic entrant $10 million to stay out of the industry • Why would the branded drug offer to pay the generic drug to stay out ...
Developing a Grain Marketing Plan
... Most producers develop excellent crop production plans each year. They develop strategies for weed control, fertilization, and tillage, and match these with their financial resources. They modify the production plan as conditions change, such as an abnormally wet planting season or an unexpected pes ...
... Most producers develop excellent crop production plans each year. They develop strategies for weed control, fertilization, and tillage, and match these with their financial resources. They modify the production plan as conditions change, such as an abnormally wet planting season or an unexpected pes ...
Solomon_ch02 - Marketing, An American Perspective at Ewha
... firm is called a business portfolio • Portfolio analysis allows a firm to assess the potential of its products and ...
... firm is called a business portfolio • Portfolio analysis allows a firm to assess the potential of its products and ...
3.01 Outline Content
... o Should we offer a warranty, maintenance contract or other support services? Price – Marketers must find a good balance between customer value and satisfaction AND between company cost and profit. To achieve this balance, marketers identify their pricing objectives which may include one or more of ...
... o Should we offer a warranty, maintenance contract or other support services? Price – Marketers must find a good balance between customer value and satisfaction AND between company cost and profit. To achieve this balance, marketers identify their pricing objectives which may include one or more of ...
Service parts pricing
Service Parts Pricing refers to the aspect of Service Lifecycle Management that deals with setting prices for service parts in the after-sales market. Like other streams of Pricing, Service Parts Pricing is a scientific pursuit aimed at aligning service part prices internally to be logical and consistent, and at the same time aligning them externally with the market. This is done with the overarching aim of extracting the maximum possible price from service parts and thus maximize the profit margins. Pricing analysts have to be cognizant of possible repercussions of pricing their parts too high or too low in the after-sales market; they constantly have to strive to get the prices just right towards achieving maximum margins and maximum possible volumes.The after-sales market consists of service part and after-sales service. These areas often account for a low share in total sales, but for a relatively high share in total profits. It is important to understand that the after-sales supply chain is very different from the manufacturing supply chain, and hence rules that apply to pricing manufacturing parts do not hold good for pricing service parts. Service Parts Pricing requires a different outlook and approach.Service networks deal with a considerably higher number of SKUs and a heterogeneous product portfolio, are more complex, have a sporadic nature of demand AND have minimal response times and strict SLAs. Companies have traditionally been content with outsourcing the after-sales side of their business and have encouraged third-party parts and service providers in the market. The result has been a bevy of these operators in the market with strict price competition and low margins.Increasingly, however, companies are realizing the importance of the after-sales market and its impact on customer retention and loyalty. Increasingly, also, companies have realized that they can extract higher profit margins from the after-sales services market due to the intangible nature of services. Companies are investing in their after-sales service networks to deliver high levels of customer service and in return command higher prices for their parts and services. Customers are being sold the concept of total cost of ownership (TCO) and are being made to realize that buying from OEMs comes packaged with better distribution channels, shorter response times, better knowledge on products, and ultimately higher product uptime.The challenge for companies is to provide reliable service levels in an environment of uncertainty. Unlike factories, businesses can’t produce services in advance of demand. They can manufacture them only when an unpredictable event, such as a product failure, triggers a need. The challenge for Service Parts Pricing is to put a value to this customer need. Parts that are critical, for example, can command higher prices. So can parts that only the OEM provides in the market. Parts that are readily available in the market cannot, and must not, be priced to high. Another problem with after-sales market is that demand cannot be stimulated with price discounts, customers do not stock up service parts just because they are on discount. On the up-side, the fact that most service parts are inelastic means pricing analysts can raise prices without the adverse effects that manufacturing or retail networks witness.These and other characteristics of the after-sales market give Service Parts Pricing a life of its own. Companies are realizing that they can use the lever of service part pricing to increase profitability and don't have to take prices as market determined. Understanding customer needs and expectations, along with the company's internal strengths and weaknesses, goes a long way in designing an effective service part pricing strategy.