Principlesof marketing 07 [compatibility mode]
-
date post
17-Oct-2014 -
Category
Marketing
-
view
131 -
download
5
description
Transcript of Principlesof marketing 07 [compatibility mode]
![Page 1: Principlesof marketing 07 [compatibility mode]](https://reader033.fdocuments.us/reader033/viewer/2022051608/5441ea2fafaf9f56208b47de/html5/thumbnails/1.jpg)
Chapter Seven
Chapter 7- slide 1
Chapter Seven
Customer-Driven Marketing Strategy:
Creating Value for Target Customers
![Page 2: Principlesof marketing 07 [compatibility mode]](https://reader033.fdocuments.us/reader033/viewer/2022051608/5441ea2fafaf9f56208b47de/html5/thumbnails/2.jpg)
Customer-Driven Marketing Strategy:Creating Value for Target Customers
• Market Segmentation
• Market Targeting
Topic Outline
Chapter 7- slide 2Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
• Market Targeting
• Differentiation and Positioning
![Page 3: Principlesof marketing 07 [compatibility mode]](https://reader033.fdocuments.us/reader033/viewer/2022051608/5441ea2fafaf9f56208b47de/html5/thumbnails/3.jpg)
Market segmentation is the process that companies use to divide large heterogeneous markets into small markets
Market Segmentation
Chapter 7- slide 3Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
heterogeneous markets into small markets that can be reached more efficiently and effectively with products and services that match their unique needs
![Page 4: Principlesof marketing 07 [compatibility mode]](https://reader033.fdocuments.us/reader033/viewer/2022051608/5441ea2fafaf9f56208b47de/html5/thumbnails/4.jpg)
Market Segmentation
Chapter 7- slide 4Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
![Page 5: Principlesof marketing 07 [compatibility mode]](https://reader033.fdocuments.us/reader033/viewer/2022051608/5441ea2fafaf9f56208b47de/html5/thumbnails/5.jpg)
• Segmenting consumer markets
• Segmenting business markets
• Segmenting international markets
Market Segmentation
Chapter 7- slide 5Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
• Segmenting international markets
• Requirements for effective segmentation
![Page 6: Principlesof marketing 07 [compatibility mode]](https://reader033.fdocuments.us/reader033/viewer/2022051608/5441ea2fafaf9f56208b47de/html5/thumbnails/6.jpg)
Market Segmentation
Geographic segmentation
Demographic segmentation
Segmenting Consumer Markets
Chapter 7- slide 6Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
Psychographic segmentation
Behavioral segmentation
![Page 7: Principlesof marketing 07 [compatibility mode]](https://reader033.fdocuments.us/reader033/viewer/2022051608/5441ea2fafaf9f56208b47de/html5/thumbnails/7.jpg)
Market Segmentation
• Geographic segmentation divides the market into different geographical units such as nations, regions, states, counties,
Segmenting Consumer Markets
Chapter 7- slide 7Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
such as nations, regions, states, counties, or cities
![Page 8: Principlesof marketing 07 [compatibility mode]](https://reader033.fdocuments.us/reader033/viewer/2022051608/5441ea2fafaf9f56208b47de/html5/thumbnails/8.jpg)
Market Segmentation
Demographic segmentation divides the market into groups based on variables such as age, gender, family size, family life cycle, income,
Segmenting Consumer Markets
Chapter 7- slide 8Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
gender, family size, family life cycle, income, occupation, education, religion, race, generation, and nationality
![Page 9: Principlesof marketing 07 [compatibility mode]](https://reader033.fdocuments.us/reader033/viewer/2022051608/5441ea2fafaf9f56208b47de/html5/thumbnails/9.jpg)
Market Segmentation
Age and life-cycle stage segmentation is the process of offering different products or using different marketing approaches for
Chapter 7- slide 9Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
using different marketing approaches for different age and life-cycle groups
Gender segmentation divides the market based on sex (male or female)
![Page 10: Principlesof marketing 07 [compatibility mode]](https://reader033.fdocuments.us/reader033/viewer/2022051608/5441ea2fafaf9f56208b47de/html5/thumbnails/10.jpg)
Market Segmentation
Income segmentation divides the market into affluent or low-income consumers
Psychographic segmentation divides buyers into different groups based on
Segmenting Consumer Markets
Chapter 7- slide 10Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
buyers into different groups based on social class, lifestyle, or personality traits
![Page 11: Principlesof marketing 07 [compatibility mode]](https://reader033.fdocuments.us/reader033/viewer/2022051608/5441ea2fafaf9f56208b47de/html5/thumbnails/11.jpg)
Market Segmentation
Behavioral segmentation divides buyers into groups based on their knowledge, attitudes, uses, or responses to a product
Segmenting Consumer Markets
Chapter 7- slide 11Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
responses to a product• Occasions• Benefits sought• User status• Usage rate• Loyalty status
![Page 12: Principlesof marketing 07 [compatibility mode]](https://reader033.fdocuments.us/reader033/viewer/2022051608/5441ea2fafaf9f56208b47de/html5/thumbnails/12.jpg)
Market Segmentation
Multiple segmentation is used to identify smaller, better-defined target groups
Using Multiple Segmentation Bases
Chapter 7- slide 12Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
Geodemographic segmentation is an example of multivariable segmentation that divides groups into consumer lifestyle patterns
![Page 13: Principlesof marketing 07 [compatibility mode]](https://reader033.fdocuments.us/reader033/viewer/2022051608/5441ea2fafaf9f56208b47de/html5/thumbnails/13.jpg)
Market Segmentation
Geographic location
Economic factors
Segmenting International markets
Chapter 7- slide 13Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
Political-legal factors
Cultural factors
![Page 14: Principlesof marketing 07 [compatibility mode]](https://reader033.fdocuments.us/reader033/viewer/2022051608/5441ea2fafaf9f56208b47de/html5/thumbnails/14.jpg)
Market Segmentation
Intermarket segmentation divides consumers into groups with similar needs and buying behaviors even though they are
Segmenting Business Markets
Chapter 7- slide 14Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
and buying behaviors even though they are located in different countries
![Page 15: Principlesof marketing 07 [compatibility mode]](https://reader033.fdocuments.us/reader033/viewer/2022051608/5441ea2fafaf9f56208b47de/html5/thumbnails/15.jpg)
Market Segmentation
• To be useful, market segments must be:
Requirements for Effective Segmentation
Measurable Accessible
Chapter 7- slide 15Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
Substantial Differentiable
Actionable
![Page 16: Principlesof marketing 07 [compatibility mode]](https://reader033.fdocuments.us/reader033/viewer/2022051608/5441ea2fafaf9f56208b47de/html5/thumbnails/16.jpg)
Market Targeting
• Target market consists of a set of buyers who share common needs or characteristics that the company decides to
Selecting Target Market Segments
Chapter 7- slide 16Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
characteristics that the company decides to serve
![Page 17: Principlesof marketing 07 [compatibility mode]](https://reader033.fdocuments.us/reader033/viewer/2022051608/5441ea2fafaf9f56208b47de/html5/thumbnails/17.jpg)
Market Targeting
• Segment size and growth
• Segment structural attractiveness
• Company objectives and resources
Evaluating Market Segments
.
Chapter 7- slide 17Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
• Company objectives and resources
![Page 18: Principlesof marketing 07 [compatibility mode]](https://reader033.fdocuments.us/reader033/viewer/2022051608/5441ea2fafaf9f56208b47de/html5/thumbnails/18.jpg)
Market TargetingTarget Marketing Strategies
Chapter 7- slide 18Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
![Page 19: Principlesof marketing 07 [compatibility mode]](https://reader033.fdocuments.us/reader033/viewer/2022051608/5441ea2fafaf9f56208b47de/html5/thumbnails/19.jpg)
Market Targeting
Undifferentiated marketing targets the whole market with one offer
Target Marketing Strategies
Chapter 7- slide 19Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
– Mass marketing
– Focuses on common needs rather than what’s different
![Page 20: Principlesof marketing 07 [compatibility mode]](https://reader033.fdocuments.us/reader033/viewer/2022051608/5441ea2fafaf9f56208b47de/html5/thumbnails/20.jpg)
Market Targeting
Differentiated marketing targets several different market segments and designs separate offers for each
Target Marketing Strategies
Chapter 7- slide 20Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
separate offers for each
• Goal is to achieve higher sales and stronger position
• More expensive than undifferentiated marketing
![Page 21: Principlesof marketing 07 [compatibility mode]](https://reader033.fdocuments.us/reader033/viewer/2022051608/5441ea2fafaf9f56208b47de/html5/thumbnails/21.jpg)
Market Targeting
• Concentrated marketing targets a small share of a large market
• Limited company resources
Target Market Strategies
Chapter 7- slide 21Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
• Knowledge of the market
• More effective and efficient
![Page 22: Principlesof marketing 07 [compatibility mode]](https://reader033.fdocuments.us/reader033/viewer/2022051608/5441ea2fafaf9f56208b47de/html5/thumbnails/22.jpg)
Market Targeting
Micromarketing is the practice of tailoring products and marketing programs to suit the tastes of specific individuals and
Target Market Strategies
Chapter 7- slide 22Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
the tastes of specific individuals and locations
• Local marketing
• Individual marketing
![Page 23: Principlesof marketing 07 [compatibility mode]](https://reader033.fdocuments.us/reader033/viewer/2022051608/5441ea2fafaf9f56208b47de/html5/thumbnails/23.jpg)
Market Targeting
Local marketing involves tailoring brands and promotion to the needs and wants of local customer groups
Target Market Strategies
Chapter 7- slide 23Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
local customer groups
• Cities
• Neighborhoods
• Stores
![Page 24: Principlesof marketing 07 [compatibility mode]](https://reader033.fdocuments.us/reader033/viewer/2022051608/5441ea2fafaf9f56208b47de/html5/thumbnails/24.jpg)
Market Targeting
Individual marketing involves tailoring products and marketing programs to the needs and preferences of individual customers
Target Market Strategies
Chapter 7- slide 24Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
and preferences of individual customers
• Also known as:
– One-to-one marketing
– Mass customization
– Markets-of-one marketing
![Page 25: Principlesof marketing 07 [compatibility mode]](https://reader033.fdocuments.us/reader033/viewer/2022051608/5441ea2fafaf9f56208b47de/html5/thumbnails/25.jpg)
Market Targeting
Depends on:
• Company resources
• Product variability
Choosing a Target Market
Chapter 7- slide 25Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
• Product variability
• Product life-cycle stage
• Market variability
• Competitor’s marketing strategies
![Page 26: Principlesof marketing 07 [compatibility mode]](https://reader033.fdocuments.us/reader033/viewer/2022051608/5441ea2fafaf9f56208b47de/html5/thumbnails/26.jpg)
Market Targeting
• Benefits customers with specific needs
• Concern for vulnerable segments
Socially Responsible Target Marketing
Chapter 7- slide 26Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
• Concern for vulnerable segments
• Children
– Alcohol
– Cigarettes
– Internet abuses
![Page 27: Principlesof marketing 07 [compatibility mode]](https://reader033.fdocuments.us/reader033/viewer/2022051608/5441ea2fafaf9f56208b47de/html5/thumbnails/27.jpg)
Differentiation and Positioning
Product position is the way the product is defined by consumers on important attributes—the place the product occupies in consumers’ minds relative to competing products
Chapter 7- slide 27Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
relative to competing products– Perceptions
– Impressions
– Feelings
![Page 28: Principlesof marketing 07 [compatibility mode]](https://reader033.fdocuments.us/reader033/viewer/2022051608/5441ea2fafaf9f56208b47de/html5/thumbnails/28.jpg)
Differentiation and Positioning
Positioning maps show consumer perceptions of their brands versus competing
Chapter 7- slide 28Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
versus competing products on important buying dimensions
![Page 29: Principlesof marketing 07 [compatibility mode]](https://reader033.fdocuments.us/reader033/viewer/2022051608/5441ea2fafaf9f56208b47de/html5/thumbnails/29.jpg)
Differentiation and Positioning
• Identifying a set of possible competitive advantages to build a position
Choosing a Differentiation and Positioning Strategy
Chapter 7- slide 29Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
advantages to build a position
• Choosing the right competitive advantages
• Selecting an overall positioning strategy
• Developing a positioning statement
![Page 30: Principlesof marketing 07 [compatibility mode]](https://reader033.fdocuments.us/reader033/viewer/2022051608/5441ea2fafaf9f56208b47de/html5/thumbnails/30.jpg)
Differentiation and Positioning
Competitive advantage is an advantage over competitors gained by offering consumers greater value, either through lower prices or
Identifying Possible Value Differences and Competitive Advantages
Chapter 7- slide 30Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
greater value, either through lower prices or by providing more benefits that justify higher prices
![Page 31: Principlesof marketing 07 [compatibility mode]](https://reader033.fdocuments.us/reader033/viewer/2022051608/5441ea2fafaf9f56208b47de/html5/thumbnails/31.jpg)
Differentiation and Positioning
Identifying a set of possible competitive advantages to build a position by providing superior value from:
Choosing a Differentiation and Positioning Strategy
Chapter 7- slide 31Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
Product differentiation
Service differentiation
Channel differentiation
People differentiation
Image differentiation
![Page 32: Principlesof marketing 07 [compatibility mode]](https://reader033.fdocuments.us/reader033/viewer/2022051608/5441ea2fafaf9f56208b47de/html5/thumbnails/32.jpg)
Differentiation and Positioning
Difference to promote should be:
Choosing the Right Competitive Advantage
Important Distinctive Superior
Chapter 7- slide 32Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
Communicable Preemptive Affordable
Profitable
![Page 33: Principlesof marketing 07 [compatibility mode]](https://reader033.fdocuments.us/reader033/viewer/2022051608/5441ea2fafaf9f56208b47de/html5/thumbnails/33.jpg)
Differentiation and Positioning
Value proposition is the full mix of
Selecting an Overall Positioning Strategy
Chapter 7- slide 33Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
is the full mix of benefits upon which a brand is positioned
![Page 34: Principlesof marketing 07 [compatibility mode]](https://reader033.fdocuments.us/reader033/viewer/2022051608/5441ea2fafaf9f56208b47de/html5/thumbnails/34.jpg)
Communication and Delivering the Chosen Position
Choosing the positioning is often easier than implementing the position.
Chapter 7- slide 34Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall