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Prepared by Anna Riana Putriya | | B UILDING THE RIGHT RELATIONSHIPS WITH THE RIGHT CUSTOMERS Week 3.

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Presentation on theme: "Prepared by Anna Riana Putriya | | B UILDING THE RIGHT RELATIONSHIPS WITH THE RIGHT CUSTOMERS Week 3."— Presentation transcript:

1 Prepared by Anna Riana Putriya | | B UILDING THE RIGHT RELATIONSHIPS WITH THE RIGHT CUSTOMERS Week 3

2 followed a mass market approach : "You can have any color you want, as long as it is black Ford’s Model T

3 STP (S egmentation, T argeting, P ositioning )

4 MARKET SEGMENTATION Division of total market into smaller, relatively homogeneous groups – kurtz, Boone – Dividing market into smaller groups with distinct needs, characteristics, or behaviors who might require separate products or marketing mixes – Philip Kotler – Clustering people with similar needs into a “market segment” (a relatively homogeneous group of customers who will respond to a marketing a similar way). – Perreault, Cannon, McCarthy – Segmentasi berarti melihat pasar secara kreatif. – Hermawan Kartajaya, Rethinking Marketing –

5 Segmentation Variables for Consumer Markets : Product-related market

6 Segmentation Variables for Consumer Markets

7 Nutrition bars are targeted to varying demographics including men, women and children (demographic variables) This fridge with a built in TV is targeted to the owner who watches television in the kitchen and has a design that faces the fridge (behavioral variables)

8 Segmentation based on Gender

9 Segmentation based on Psychographic

10 Segmentation based on Behavioral

11 Segmentation based on Loyalty Status

12 Segmentation for International Markets

13 Requirements for Effective Segmentation To be useful, market segments must be: 1. Measurable 2. Accessible 3. Substantial 4. Differentiable 5. Actionable

14 TARGET MARKET Target market consist of a set of buyers who share common needs or characteristics that the company decides to serve

15

16 TARGET MARKETING STRATEGIES

17 I NDIVIDUAL MARKETING

18 I NDIVIDUAL M ARKETING (C USTOMIZATION )

19 Source:

20 PATTERNS OF TARGET MARKET SELECTION

21 PATTERNS OF TARGET MARKET SELECTION

22 DIFFERENTIATION Identifying a set of possible competitive advantages to build a position by providing superior value from :  Product differentiation  Service differentiation  Channel differentiation  People differentiation  Image differentiation

23 POSITIONING The way the product is defined by consumers on important attributes — the place the product occupies in consumers’ minds relative to competing products  Perceptions  Impressions  Feelings

24 “ Many people believe that the basic issue in marketing is convincing customers you have a better product, that in the long run the best product will win. Not true… It's an illusion…there is no objective reality. The perception is the reality. Marketing is battle of perceptions, not products. All that exists in the world of marketing are perceptions in the mind of customers “ Source: the 22 immutable laws of marketing by Jack Trout, Al Ries PERCEPTION

25 Perceptions for Different Brands of Bar Soap

26 POSITIONING STATEMENT (PS) PS states the product’s membership in a category and then shows its point- of-difference from other members of the category. Examples :

27 VALUE PROPOSITIONS

28 Discuss It’s the time of the great coffee wars: D UNKIN VERSUS S TARBUCKS.  Discuss the target market for each company’s coffee.  Are these just consumer markets, or is there a business market for them as well?

29 thank you


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