Marketing 300 discussion section. announcements?
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marketing 300marketing 300discussion section
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announcements?
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discussion question
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group policy
Anyone still need to find a group?
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micro-macro dilemma
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personal benefits vs. social costs
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personal benefits vs. social costs
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personal benefits vs. social costs
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personal benefits vs. social costs
trash mass twice the size of TEXAS!
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personal benefits vs. social costs
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personal benefits vs. social costs
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personal benefits vs. social costs
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personal benefits vs. social costs
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question
Why does Progressive insurance offer customers a price quote for Progressive and for its competitors?
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question
(hint: think about the purpose of the 4 Ps)
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Segmentation
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question
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question
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question
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Segmentation• Different people have different needs and different
uses for products within a category.• As a business, it’s important to know who might be
interested in your product/service and why.• Why?
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What is a segment?• Segments/Submarkets
A relatively homogeneous group of customers who will respond similarly to a marketing mix.
Segments are based around NEED.
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discussion questionConsider the student market for off-campus apartments in your
city. Identify some segments that have different needs and determining dimensions. Then evaluate how well the needs in these market segments are being met in your geographic area. Is there an obvious breakthrough opportunity waiting for someone?
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discussion question• Need• Qualifying dimensions– minimum requirements; without these, a consumer is not
interested (“I ABSOLUTELY NEED THIS!”)– ex. a roof. If a house doesn’t have a roof, you probably won’t
consider living there.• Determining dimensions– qualities that consumers ultimately choose on once they have a
qualifying set (“THIS WOULD BE NICE TO HAVE, BUT I DON’T NEED IT”)
– ex. I choose this house from the ones I liked because it has off-street parking
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discussion questionConsider the student market for off-campus apartments in your
city. Identify some segments that have different needs and determining dimensions. Then evaluate how well the needs in these market segments are being met in your geographic area. Is there an obvious breakthrough opportunity waiting for someone?
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discussion questionTalk with your group about your ideas for a few
minutes. Come up with three distinct segments with qualifying dimensions and a “breakthrough opportunity.”
WARNING!Think about students in terms of all relevant segmenting dimensions (NEEDS), not only in terms of their age or year. The latter will lead you down the wrong path.
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discussion questionSegment Need Qualifying
DimensionsDetermining Dimensions
Luxury-seekers Comfort, view, status
Amenities, nice view, cleaning service
Gym, heated parking lot
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discussion questionReady?
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discussion questionSegment Need Qualifying
DimensionsDetermining Dimensions
Luxury-seekers Comfort, view, status
Amenities, nice view, cleaning service
Gym, heated parking lot
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discussion questionSegment Need Qualifying
DimensionsDetermining Dimensions
Luxury-seekers Comfort, view, status
Amenities, nice view, cleaning service
Gym, heated parking lot
Budget-conscious
Low cost housing
Cheap rent, paid utilities
Close to campus
Socialites Proximity to bars, ability to be loud
Cool neighborhood, near bars
Paid utilities
Families Quiet, safety, good school district
Suburban, good schools, low crime area
Washer/Dryer in unit
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what’s wrong with this?
Grad Students
Grad Students
Sophomores and Juniors
Sophomores and Juniors SeniorsSeniors
MADISON HOUSING SEGMENTS
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are all students the same?
People who want quiet
People who want quiet Budget consciousBudget conscious People who want
to party 24/7People who want
to party 24/7
Seniors
we know that not everyone wants the same thing, even if they are in the same demographic
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what’s wrong with this?• Some seniors might want quiet, others might be looking for proximity to bars, others might want pets. These groups do not necessarily overlap.
•“Seniors” also leaves out non-seniors who might be looking for quiet, proximity to bars, etc.
People who want quiet
People who want quiet Budget consciousBudget conscious People who want
to party 24/7People who want
to party 24/7
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are all students the same?
Seniors
by making “seniors” a segment, you are implying that all students want the same thing
Clones
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this is the right way
Quiet SeekersQuiet Seekers Budget consciousBudget conscious PartiersPartiers
Overall Market
this is better because it divides overall market by needs, not by demographics
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discussion questionHey wait a minute! How come you said that
“seniors” isn’t a segment but “families” is?
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discussion question• This isn’t an exact science. Use your intuition.• Probably most families are looking for similar
things; students probably aren’t.• Homogeneous within (people within a
segment very similar)• Heterogeneous between (people in different
segments are not very similar)
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discussion question• Warning: You will have the irrepressible urge
to segment by demographics. Don’t do it! • It’s okay to use demographics (ex. age,
gender, occupation) to help you segment, but don’t rely on them.
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discussion question• Segment based on
NEED
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discussion question• Are all the needs you mentioned being met here
in Madison? • What is a market that you think is out there that
is not currently being met?
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quizReminder: • The quizzes are timed. You have 4
minutes to submit them. After that, the system will not accept them!
• You have 2 attempts to complete the quiz. The system will take the higher score.
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quizLipton has increased sales by developing ads that encourage its
current customers to drink Lipton tea instead of coffee at morning "coffee breaks." This effort focuses on
A. Market developmentB. DiversificationC. Product developmentD. Market penetration E. None of the above
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quiz
What does “market” mean?
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quiz• The president of a company that produces cardboard boxes
is concerned about the large number of competitors with extra capacity. As he put it, "our best shot is in the hands of our sales manager--she makes all of our marketing decisions and is creative enough to figure out how to sell more boxes." It seems that this company is run as if it were in the:
a) Production erab) Marketing company erac) Simple trade erad) Sales erae) Marketing department era
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quizA digital camera, a computer video-cam, and a computer
scanner might compete in the sameA. Single target marketB. Generic marketC. Multiple target marketD. Combined target marketE. Product-market
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quizA. Generic market ex. things that transfer digital images to your computer
B. Product-market ex. digital cameras
C. Single target market ex. waterproof digital camera
D. Multiple target market ex. one camera targeted at professionals and amateurs (with
different marketing mixes)
E. Combined target market ex. one camera targeted at professionals and amateurs (same
marketing mixes)
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other questions?
?
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Have a great weekend