* Your assessment is very important for improving the workof artificial intelligence, which forms the content of this project
Download SEGMENTATION – TARGETING – POSITIONING
Marketing research wikipedia , lookup
Guerrilla marketing wikipedia , lookup
Price discrimination wikipedia , lookup
Service parts pricing wikipedia , lookup
Marketing mix modeling wikipedia , lookup
Marketing communications wikipedia , lookup
Dumping (pricing policy) wikipedia , lookup
Pricing strategies wikipedia , lookup
Viral marketing wikipedia , lookup
Grey market wikipedia , lookup
Food marketing wikipedia , lookup
Direct marketing wikipedia , lookup
Digital marketing wikipedia , lookup
First-mover advantage wikipedia , lookup
Marketing plan wikipedia , lookup
Targeted advertising wikipedia , lookup
Street marketing wikipedia , lookup
Perfect competition wikipedia , lookup
Youth marketing wikipedia , lookup
Integrated marketing communications wikipedia , lookup
Market penetration wikipedia , lookup
Darknet market wikipedia , lookup
Multicultural marketing wikipedia , lookup
Green marketing wikipedia , lookup
Market analysis wikipedia , lookup
Marketing channel wikipedia , lookup
Neuromarketing wikipedia , lookup
Sensory branding wikipedia , lookup
Target audience wikipedia , lookup
Product planning wikipedia , lookup
Global marketing wikipedia , lookup
Marketing strategy wikipedia , lookup
Advertising campaign wikipedia , lookup
Target market wikipedia , lookup
SEGMENTATION – TARGETING – POSITIONING Fragmentation of mass markets segments Consumers: variety of needs & preferences Marketers: offer variety of choices via multitude of marketing offerings Marketing segmentation: Needs Action Linking market needs to an org’s marketing program Market needs Segmentation/Targeting MM A market segment: Group of consumers with homogenous profile & common needs will similarly respond to a marketing program Segmentation – targeting – positioning 1 Using market-product grids: see how Reebok use different Reebok shoes to reach segments of customers with different needs Single product multiple market segments e.g. TIME magazine multiple geographical mkts multiple products multiple segments firm offers variations of the basic product to high-end and low-end users e.g. GAP with Old Navy, Banana Republic segments of one mass customization built to order Segmentation – targeting – positioning 2 How to segment and target markets: 1. Group potential buyers into segments 2. Group products into categories 3. Develop a Market-Product Grid and estimate size of the market 4. Select target markets 5. Take marketing actions to reach target markets Segmentation – targeting – positioning 3 Criteria used in defining segments: 1. profitability 2. similarity of needs of potential buyers within a segment 3. differences of needs and buyers across segments 4. potential of a marketing action to reach a segment 5. simplicity and cost of assigning potential to segments Segmentation – targeting – positioning 4 BASES OF SEGMENTATION 1. geography – regional differences Burger King: spicy offerings in the SW 2. demographics – household size 3. psychographics – lifestyle 4. benefits sought – product features 5. usage pattern/patronage – usage rate 80-20 rule Segmentation – targeting – positioning 5 Criteria for selecting target segments 1. market size – substantiability 2. expected growth – future potential 3. competitive position – attractiveness f(# C) 4. cost of reaching the segment – accessibility 5. compatibility with the organization’s objectives & resources Segmentation – targeting – positioning 6 POSITIONING ISSUES Product positioning: The place an offering occupies in the minds of consumers relative to competitive products Product repositioning: Changing the place an offering occupies in the minds of consumers relative to competitive offerings HOW IT WORKS 1. head-to-head – competing directly with other market offerings along similar attributes in the same target segment 2. differentiation positioning – less competitive, smaller market niche in which to locate a brand PERCEPTUAL MAPS 1. identify important attributes for a product class 2. judge existing brands re these impt attributes 3. ratings of an ‘ideal’ brands attributes Segmentation – targeting – positioning 7