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Segmentation, Targeting and the Marketing Mix

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Presentation on theme: "Segmentation, Targeting and the Marketing Mix"— Presentation transcript:

1

2 Segmentation, Targeting and the Marketing Mix
Introduces the people and groups who work in advertising Chapter Title

3 Chapter 4 Objectives Describe the role of marketing in creating satisfying exchanges Explain the role of advertising in communicating a product’s utility Identify the various methods advertisers use to segment and aggregate consumer and business markets Discuss how target marketing affects the firm’s advertising strategy Explain the purpose and importance of branding Describe the elements of the marketing mix and the role of advertising in the mix

4 The Larger Marketing Context of Advertising

5 Context of Advertising: Marketing Key Concepts
Utility Utility Awareness Attitude Interest Exchanges Perception Satisfaction Customer’s Seller’s

6 The Market Segmentation Process
1. Identify people with shared needs and characteristics

7 The Market Segmentation Process
1. Identify people with shared needs and characteristics 2. Aggregate these groups into market segments according to their mutual interest in the product’s utility

8 Types of Markets Two Types Consumer Business

9 Market Segmentation Behavioristic User-Status Variables Sole Users
Semi-Sole Users Discount Users Aware Nontriers Trial/Rejectors Repertoire Users Usage-Rate Variables Volume Segmentation Purchase-Occasion Variables Benefits-Sought Variables Benefit Segmentation

10 Market Segmentation This Crate and Barrel ad targets sole users and repertoire users

11 Market Segmentation Heavy users: Hardee’s ad marketing the Thickburger

12 Market Segmentation Behavioristic Geographic Demographic
User Status Variables Purchase-Occasion Variables Benefits-Sought Variables User-Rate Variables User Status, User Rate, Purchase Occasion, & Benefits-Sought Variables Geographic Demographic

13 Market Segmentation Demographic segmentation: Hispanic ad spending growth by medium

14 Market Segmentation Demographic segmentation: Heavy usage patterns of various age groups

15 Market Segmentation Behavioristic Geographic Demographic Psychographic
User Status, User Rate, Purchase Occasion, & Benefits-Sought Variables Behavioristic Geographic Demographic Geodemographic Segmentation Psychographic VALS MindBase BehaviorGraphics

16 Market Segmentation Psychographic segmentation: VALS

17 Market Segmentation Psychographic segmentation: Adidas placed ads along the Boston Marathon route to target young people who define themselves by their athletic achievements Insert left panel of Adidas ad (p. 180) (ritual/shock/denial/isolation ad panel) Position = 2.9” horizontal, 1.5” vertical Size = 2.8”wide Resolution = 300 dpi Insert right panel of Adidas ad (p. 180) (affirmation/despair/renewal ad panel) Position = 5.9” horizontal, 1.5” vertical Size = 2.8” wide Resolution = 300 dpi

18 Market Segmentation: Business, Government, & Industry
Fewer, more- concentrated buyers Differences from Consumer Markets Complexity: Manufacturers, Resellers, Brand Partnerships Organizational buying behavior

19 Market Segmentation: Business, Government, & Industry
The NAICS hierarchy and codes can be used to search for prospective clients

20 The Target Marketing Process
1. Select a target market from the market segments identified 2. Use the 4Ps of the marketing mix to shape a product concept for the market Product Price Place Promotion

21 Target Market Selection
Land Rover ad appeals to customers who want both safety and function

22 Positioning & Differentiation
The Product Element Life Cycle Classification Positioning & Differentiation Branding Packaging Introduction Growth Maturity Decline Tangible Goods Equipment- based services People- based services Perceptible Hidden Induced Individual Family National Private Label Licensed Identification Containment Protection Convenience Consumer appeal Packaging can pay for itself Insert ex. 6.11, p. 188 Product life cycle curve Position = 2.66” horizontal, 1.26” vertical Size = 5.84” WIDE Resolution = 300 dpi

23 Positioning & Differentiation
The Product Element Life Cycle Classification Positioning & Differentiation Branding Packaging Introduction Growth Maturity Decline By market By rate of consumption By tangibility By buying habits By physical description Perceptible Hidden Induced Individual Family National Private Label Licensed Identification Containment Protection Convenience Consumer appeal Packaging can pay for itself

24 Positioning & Differentiation
The Product Element Life Cycle Classification Positioning & Differentiation Branding Packaging Introduction Growth Maturity Decline By market By rate of consumption By tangibility By buying habits By physical description Perceptible Hidden Induced Individual Family National Private Label Licensed Identification Containment Protection Convenience Consumer appeal Packaging can pay for itself

25 The Product Element Jeep positions itself as the “only one” to go anywhere on the planet

26 Positioning & Differentiation
The Product Element Life Cycle Classification Positioning & Differentiation Branding Packaging Introduction Growth Maturity Decline By market By rate of consumption By tangibility By buying habits By physical description Perceptible Hidden Induced Individual Family National Private Label Licensed Identification Containment Protection Convenience Consumer appeal Packaging can pay for itself

27 The Product Element World’s most valuable brands

28 Positioning & Differentiation
The Product Element Life Cycle Classification Positioning & Differentiation Branding Packaging Introduction Growth Maturity Decline By market By rate of consumption By tangibility By buying habits By physical description Perceptible Hidden Induced Individual Family National Private Label Licensed Identification Containment Protection Convenience Consumer appeal Packaging can pay for itself

29 The Price Element Price Factors: Demand Corporate Goals & Strategies
Production & Distribution Competition

30 The Place (Distribution) Element
Direct Network Buyer Club Indirect Intensive Selective Push/Pull Exclusive

31 The Promotion Element Marketing Communication Types Direct Marketing
Sales Promotion Product Advertising Personal Selling Public Relations

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