Advertising Class Baruch College Week 4 presentation
-
Upload
ethan-chazin-mba -
Category
Business
-
view
145 -
download
0
description
Transcript of Advertising Class Baruch College Week 4 presentation
![Page 1: Advertising Class Baruch College Week 4 presentation](https://reader036.fdocuments.us/reader036/viewer/2022081602/555297bdb4c9051f108b4f37/html5/thumbnails/1.jpg)
AdvertisingAdvertisingMKTMKT00350035
![Page 2: Advertising Class Baruch College Week 4 presentation](https://reader036.fdocuments.us/reader036/viewer/2022081602/555297bdb4c9051f108b4f37/html5/thumbnails/2.jpg)
Chapter 4:Chapter 4:Segmentation, Segmentation,
Targeting & Targeting & Marketing MixMarketing Mix
![Page 3: Advertising Class Baruch College Week 4 presentation](https://reader036.fdocuments.us/reader036/viewer/2022081602/555297bdb4c9051f108b4f37/html5/thumbnails/3.jpg)
Determine yourTarget SegmentsTarget Segments:
Who are you gonna sell your stuff to?
![Page 5: Advertising Class Baruch College Week 4 presentation](https://reader036.fdocuments.us/reader036/viewer/2022081602/555297bdb4c9051f108b4f37/html5/thumbnails/5.jpg)
“A market segment consists of a group of consumers who share a similar set
of needs and wants.”
Kotler & LaneKotler & Lane
![Page 7: Advertising Class Baruch College Week 4 presentation](https://reader036.fdocuments.us/reader036/viewer/2022081602/555297bdb4c9051f108b4f37/html5/thumbnails/7.jpg)
• A marketmarket is the set of all actual and potential buyers who have sufficient interest in, income for, and access to your products/services.
• Market segmentation Market segmentation divides your market into distinct groups of homogenous consumers who all have similar needs and consumer behavior, and thus require similar marketing mixes.
Target Markets
![Page 8: Advertising Class Baruch College Week 4 presentation](https://reader036.fdocuments.us/reader036/viewer/2022081602/555297bdb4c9051f108b4f37/html5/thumbnails/8.jpg)
• Segmentation bases for B2C & B2B markets (Page 95):– Behavioral– Demographic– Psychographic– Geographic– Occasion– Benefits
Target Markets
![Page 10: Advertising Class Baruch College Week 4 presentation](https://reader036.fdocuments.us/reader036/viewer/2022081602/555297bdb4c9051f108b4f37/html5/thumbnails/10.jpg)
Psychographic Segmentation
![Page 11: Advertising Class Baruch College Week 4 presentation](https://reader036.fdocuments.us/reader036/viewer/2022081602/555297bdb4c9051f108b4f37/html5/thumbnails/11.jpg)
• Activities of the target segment• Interests…• Opinions…• Attitudes…• Values…
Psychographic Segmentation
![Page 12: Advertising Class Baruch College Week 4 presentation](https://reader036.fdocuments.us/reader036/viewer/2022081602/555297bdb4c9051f108b4f37/html5/thumbnails/12.jpg)
• Segmentation bases for B2C & B2B markets:– Nature of good or service– Buying condition of the consumer– Demographic details
• DescriptiveDescriptive or consumer-basedconsumer-based are related to what kind of person or organization the customer is.
• BehavioralBehavioral or product-orientedproduct-oriented are related to how the customer thinks of or uses the brand, product, or service. Behavioral segmentation bases are often most valuable in understanding branding issues, because they have clearer strategic implications.
Target Markets
![Page 13: Advertising Class Baruch College Week 4 presentation](https://reader036.fdocuments.us/reader036/viewer/2022081602/555297bdb4c9051f108b4f37/html5/thumbnails/13.jpg)
![Page 14: Advertising Class Baruch College Week 4 presentation](https://reader036.fdocuments.us/reader036/viewer/2022081602/555297bdb4c9051f108b4f37/html5/thumbnails/14.jpg)
• Blanket targetingBlanket targeting: occurs when the firm’s advertising reaches the entire segment.
• Beachhead targetingBeachhead targeting: The initial segment you go after is smaller than the larger segment you go after later.
• Bleed-over targetingBleed-over targeting: The desired target includes others you don’t really wish to target.
Types of TargetingTypes of Targeting
![Page 15: Advertising Class Baruch College Week 4 presentation](https://reader036.fdocuments.us/reader036/viewer/2022081602/555297bdb4c9051f108b4f37/html5/thumbnails/15.jpg)
• New opportunity targetingNew opportunity targeting: the firm targets an entirely new segment online. Online targets have different needs and preferences from the firms’ offline segment(s). Typically it involves a new brand name and position.
• Companies that changed their marketing strategy when they went online:– Hush Puppies– Ethan Allen – Midas– Avon
Types of TargetingTypes of Targeting
![Page 16: Advertising Class Baruch College Week 4 presentation](https://reader036.fdocuments.us/reader036/viewer/2022081602/555297bdb4c9051f108b4f37/html5/thumbnails/16.jpg)
For behavioral or product-oriented
target segments think “INSURANCEINSURANCE”
![Page 17: Advertising Class Baruch College Week 4 presentation](https://reader036.fdocuments.us/reader036/viewer/2022081602/555297bdb4c9051f108b4f37/html5/thumbnails/17.jpg)
Think InsuranceThink Insurance
![Page 18: Advertising Class Baruch College Week 4 presentation](https://reader036.fdocuments.us/reader036/viewer/2022081602/555297bdb4c9051f108b4f37/html5/thumbnails/18.jpg)
• Identify who you want to sell your products to and offer your services to.
• Actionable Actionable segmentation:– The segments are easy to identify.– Segments can be easily reached.– Segments can be defined in terms of their growth,
size, profile and attractiveness.
• MeaningfulMeaningful segmentation explains why customers act the way they do:– Customers in a segment behave in similar ways.– Sheds light into customer motivations.– Correlates to differences in profitability or cost to
serve
Find Your Target MarketsFind Your Target Markets
![Page 19: Advertising Class Baruch College Week 4 presentation](https://reader036.fdocuments.us/reader036/viewer/2022081602/555297bdb4c9051f108b4f37/html5/thumbnails/19.jpg)
Think CarsThink Cars
![Page 20: Advertising Class Baruch College Week 4 presentation](https://reader036.fdocuments.us/reader036/viewer/2022081602/555297bdb4c9051f108b4f37/html5/thumbnails/20.jpg)
A Class Concept< $30k
![Page 21: Advertising Class Baruch College Week 4 presentation](https://reader036.fdocuments.us/reader036/viewer/2022081602/555297bdb4c9051f108b4f37/html5/thumbnails/21.jpg)
Chrysler 300> $40k
![Page 22: Advertising Class Baruch College Week 4 presentation](https://reader036.fdocuments.us/reader036/viewer/2022081602/555297bdb4c9051f108b4f37/html5/thumbnails/22.jpg)
The Male The Male 18-25 18-25 Segment…Segment…
![Page 23: Advertising Class Baruch College Week 4 presentation](https://reader036.fdocuments.us/reader036/viewer/2022081602/555297bdb4c9051f108b4f37/html5/thumbnails/23.jpg)
![Page 24: Advertising Class Baruch College Week 4 presentation](https://reader036.fdocuments.us/reader036/viewer/2022081602/555297bdb4c9051f108b4f37/html5/thumbnails/24.jpg)
![Page 25: Advertising Class Baruch College Week 4 presentation](https://reader036.fdocuments.us/reader036/viewer/2022081602/555297bdb4c9051f108b4f37/html5/thumbnails/25.jpg)
![Page 26: Advertising Class Baruch College Week 4 presentation](https://reader036.fdocuments.us/reader036/viewer/2022081602/555297bdb4c9051f108b4f37/html5/thumbnails/26.jpg)
…and the Male 18-25 Demographic?
![Page 27: Advertising Class Baruch College Week 4 presentation](https://reader036.fdocuments.us/reader036/viewer/2022081602/555297bdb4c9051f108b4f37/html5/thumbnails/27.jpg)
![Page 28: Advertising Class Baruch College Week 4 presentation](https://reader036.fdocuments.us/reader036/viewer/2022081602/555297bdb4c9051f108b4f37/html5/thumbnails/28.jpg)
![Page 29: Advertising Class Baruch College Week 4 presentation](https://reader036.fdocuments.us/reader036/viewer/2022081602/555297bdb4c9051f108b4f37/html5/thumbnails/29.jpg)
• STEP 1 STEP 1 - Identify groups of people with similar shared needs and characteristics.
• STEP 2 STEP 2 - Aggregate the these groups into larger market segments according to their interest in your product’s utility.
2 Steps to Segmentation
![Page 30: Advertising Class Baruch College Week 4 presentation](https://reader036.fdocuments.us/reader036/viewer/2022081602/555297bdb4c9051f108b4f37/html5/thumbnails/30.jpg)
Satisfying NeedsSatisfying Needs
![Page 31: Advertising Class Baruch College Week 4 presentation](https://reader036.fdocuments.us/reader036/viewer/2022081602/555297bdb4c9051f108b4f37/html5/thumbnails/31.jpg)
The ultimate purpose The ultimate purpose of marketing (thus of marketing (thus advertising) is to advertising) is to
create exchanges create exchanges that that satisfy the perceived satisfy the perceived needsneeds and wants and wants of of
individuals and individuals and organizations.organizations.
![Page 32: Advertising Class Baruch College Week 4 presentation](https://reader036.fdocuments.us/reader036/viewer/2022081602/555297bdb4c9051f108b4f37/html5/thumbnails/32.jpg)
Satisfying Needs
The ability to satisfy customer needs is called UTILITY.
There are five types of customer utility:• Form: Produce the physical product.• Task: Do something for the customer.• Possession: How do they get it?• Time: Provide it when they want it.• Place: Have it where they can get it.
![Page 33: Advertising Class Baruch College Week 4 presentation](https://reader036.fdocuments.us/reader036/viewer/2022081602/555297bdb4c9051f108b4f37/html5/thumbnails/33.jpg)
Exchange Exchange = =
SatisfactioSatisfaction?n?
![Page 34: Advertising Class Baruch College Week 4 presentation](https://reader036.fdocuments.us/reader036/viewer/2022081602/555297bdb4c9051f108b4f37/html5/thumbnails/34.jpg)
![Page 35: Advertising Class Baruch College Week 4 presentation](https://reader036.fdocuments.us/reader036/viewer/2022081602/555297bdb4c9051f108b4f37/html5/thumbnails/35.jpg)
It’s JUST Tap Water…It’s JUST Tap Water…
![Page 36: Advertising Class Baruch College Week 4 presentation](https://reader036.fdocuments.us/reader036/viewer/2022081602/555297bdb4c9051f108b4f37/html5/thumbnails/36.jpg)
• Stated needs (inexpensive car)• Real needs (car with LOW operating cost)• Unstated needs (good service)• Delight needs (include a cool nav system)• Secret needs (your friends see you as a cool &
savy consumer)
FIVE Kinds of Needs
![Page 37: Advertising Class Baruch College Week 4 presentation](https://reader036.fdocuments.us/reader036/viewer/2022081602/555297bdb4c9051f108b4f37/html5/thumbnails/37.jpg)
• Specify the benefits you will deliver to specific target segments:– Volvo (safety)– Nordstrom’s (customer care)– Southwest Airlines (convenience)
Focus on Customer BenefitsFocus on Customer Benefits
![Page 38: Advertising Class Baruch College Week 4 presentation](https://reader036.fdocuments.us/reader036/viewer/2022081602/555297bdb4c9051f108b4f37/html5/thumbnails/38.jpg)
![Page 39: Advertising Class Baruch College Week 4 presentation](https://reader036.fdocuments.us/reader036/viewer/2022081602/555297bdb4c9051f108b4f37/html5/thumbnails/39.jpg)
Sample Ad Sample Ad CampaignCampaign
![Page 40: Advertising Class Baruch College Week 4 presentation](https://reader036.fdocuments.us/reader036/viewer/2022081602/555297bdb4c9051f108b4f37/html5/thumbnails/40.jpg)
You’re Not YOUYou’re Not YOUWhen You’re HungryWhen You’re Hungry
![Page 41: Advertising Class Baruch College Week 4 presentation](https://reader036.fdocuments.us/reader036/viewer/2022081602/555297bdb4c9051f108b4f37/html5/thumbnails/41.jpg)
![Page 42: Advertising Class Baruch College Week 4 presentation](https://reader036.fdocuments.us/reader036/viewer/2022081602/555297bdb4c9051f108b4f37/html5/thumbnails/42.jpg)
![Page 43: Advertising Class Baruch College Week 4 presentation](https://reader036.fdocuments.us/reader036/viewer/2022081602/555297bdb4c9051f108b4f37/html5/thumbnails/43.jpg)
![Page 44: Advertising Class Baruch College Week 4 presentation](https://reader036.fdocuments.us/reader036/viewer/2022081602/555297bdb4c9051f108b4f37/html5/thumbnails/44.jpg)
![Page 45: Advertising Class Baruch College Week 4 presentation](https://reader036.fdocuments.us/reader036/viewer/2022081602/555297bdb4c9051f108b4f37/html5/thumbnails/45.jpg)
Resources
![Page 46: Advertising Class Baruch College Week 4 presentation](https://reader036.fdocuments.us/reader036/viewer/2022081602/555297bdb4c9051f108b4f37/html5/thumbnails/46.jpg)
![Page 47: Advertising Class Baruch College Week 4 presentation](https://reader036.fdocuments.us/reader036/viewer/2022081602/555297bdb4c9051f108b4f37/html5/thumbnails/47.jpg)
![Page 48: Advertising Class Baruch College Week 4 presentation](https://reader036.fdocuments.us/reader036/viewer/2022081602/555297bdb4c9051f108b4f37/html5/thumbnails/48.jpg)