Presentation is loading. Please wait.

Presentation is loading. Please wait.

Copyright © 2012 Pearson Canada Inc.7 - 1 Chapter 7 Segmentation, Targeting and Positioning.

Similar presentations


Presentation on theme: "Copyright © 2012 Pearson Canada Inc.7 - 1 Chapter 7 Segmentation, Targeting and Positioning."— Presentation transcript:

1 Copyright © 2012 Pearson Canada Inc Chapter 7 Segmentation, Targeting and Positioning

2 Copyright © 2012 Pearson Canada Inc Getting it right?

3 Copyright © 2012 Pearson Canada Inc Designing a Customer-Driven Marketing Strategy

4 Copyright © 2012 Pearson Canada Inc Finding Market Opportunities “needs” all customers have similar needs dissimilar products mobility generic markets similar needs similar products product- market product- market human transport bikes | cars | trucks narrow market narrow market product- market product- market increasingly- homogeneous “needs” job | recreation

5 Copyright © 2012 Pearson Canada Inc product- market product- market Finding Market Opportunities “needs” all customers have generic markets narrow market narrow market transportation riders exercisers off-road adventurers environmentalists socializers disaggregating

6 Copyright © 2012 Pearson Canada Inc dependability status disaggregating re-aggregating Finding Market Opportunities

7 Copyright © 2012 Pearson Canada Inc Newer Techniques –data mining acher/technologies/palace/datamining.htm –CRM (Customer Relationship Management) –shopping behaviour analysis

8 Copyright © 2012 Pearson Canada Inc Market Segmentation –Dividing a market into groups with distinct needs, characteristics, or behaviors that might require separate marketing strategies or mixes Key consumer variables: –Geographic –Demographic –Psychographic –Behavioral

9 Copyright © 2012 Pearson Canada Inc Market Segmentation Behavioral segmentation Use multiple segmentation bases to identify smaller, better-defined target groups –Start with a single base and then expand to other bases –Multivariable segmentation systems such as PRIZM NE (New Evolution) are becoming more common

10 Copyright © 2012 Pearson Canada Inc Segmenting International Markets Factors used: –Geographic location –Economic factors –Political and legal factors –Cultural factors Intermarket segmentation: –Segmenting consumers who have similar needs and buying behavior even though they are located in different countries

11 Copyright © 2012 Pearson Canada Inc Effective Segmentation –Measurable –Accessible –Substantial –Differentiable –Actionable

12 Copyright © 2012 Pearson Canada Inc Market Targeting Market targeting involves: –Evaluating marketing segments Consider segment size and growth, segment structural attractiveness, and company objectives and resources –Selecting target market segments Alternatives range from undifferentiated marketing to micromarketing –Being socially responsible

13 Copyright © 2012 Pearson Canada Inc Selecting Target Market Segments Targeting strategies include: –Undifferentiated (mass) marketing –Differentiated (segmented) marketing –Concentrated (niche) marketing –Micromarketing (local or individual marketing)

14 Copyright © 2012 Pearson Canada Inc Choosing a Targeting Strategy Factors to consider: –Company resources –Product variability –Product’s life-cycle stage –Market variability –Competitors’ marketing strategies

15 Copyright © 2012 Pearson Canada Inc Ethical Issues in Targeting exploitation “desires” –needs –wants –cravings harm –emotional –financial –other?

16 Copyright © 2012 Pearson Canada Inc Differentiation and Positioning Product’s position: –Important attributes defined by consumers –The place the product occupies in consumers’ minds relative to competing products “Product are created in a factory, but brands are created in the mind”

17 Copyright © 2012 Pearson Canada Inc Positioning High moisturizing low moisturizing nondeodorant deodorant Zest Olay Safeguard Dial Lifebuoy Jergens Dove Lux Coast Ivory

18 Copyright © 2012 Pearson Canada Inc Differentiation and Positioning Competitive advantage: –gained by offering greater customer value, either through lower prices or by providing more benefits that justify higher prices

19 Copyright © 2012 Pearson Canada Inc Differentiation and Positioning Identifying possible value differences and competitive advantages: –Key to winning - understand their needs better than competitors do and to deliver more value –Examine the entire customer experience

20 Copyright © 2012 Pearson Canada Inc Differentiation and Positioning Types of differentiation: –Product: Features, performance, style, design –Services: Speedy, convenient or careful delivery –Channels: Coverage, expertise, performance –People: Training staff better than the competitors –Image: Convey distinctive benefits and positioning

21 Copyright © 2012 Pearson Canada Inc Differentiation and Positioning Worthwhile differences to promote: –Important –Distinctive –Superior –Communicable –Preemptive –Affordable –Profitable

22 Copyright © 2012 Pearson Canada Inc Differentiation and Positioning

23 Copyright © 2012 Pearson Canada Inc Differentiation and Positioning Developing a positioning statement: –Format: “To (target segment and need) our (brand) is (a concept) that (point of difference).” –Example: “To busy, mobile professionals who need to always be in the loop, BlackBerry is a wireless connectivity solution that gives you an easier, more reliable way to stay connected to data, people, and resources while on the go.”

24 Copyright © 2012 Pearson Canada Inc Communicating and Delivering the Position All marketing-mix efforts must support the positioning strategy Companies must monitor and adapt the position over time –Required to match changes in consumer needs and competitors’ strategies


Download ppt "Copyright © 2012 Pearson Canada Inc.7 - 1 Chapter 7 Segmentation, Targeting and Positioning."

Similar presentations


Ads by Google