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Chapter 2 Marketing Plans

By Victor Cook,2014-01-20 21:27
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Chapter 2 Marketing Plans

Chapter 7: Market Segmentation, Targeting, and Positioning

    Company Profile: Procter & Gamble (How many P&G brands can you name?)

    Market Segmentation :

    ? Levels:

    ? Mass marketing- ? Logic:

    ?

    ?

    ?

    ? Problems with logic today:

    ?

    ?

    ?

? Segment marketing: Isolates broad segments and adapts mix to match those

    segments it is interested in

    ?

? Niche Marketing: Focussing on subsegments with distinctive traits

    ?

    ?

    ? Ex. Different types of Credit Cards

    ?

    ?

    ?

    ?

    ?

? Micromarketing: Customizing by individual customer or locale

    ? Local marketing

    ? Tailoring brands/promotions to needs/wants of local customer groups

    ?

    ? Disadvantages:

    ?

    ?

    ? Methods/Variables Of Segmenting Consumer markets

    ? Geographic Segmentation

    ?

    ?

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? Demographic Segmentation

    ? Age & Life-cycle stage or family size

    ?

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    ? Gender

    ? Long- used

    ?

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    ? Income

    ?

    ?

    ? Other: Occupation/Education/Religion/Race/Nationality

? Psychographic Segmentation

    ? Social Class

    ? Lifestyle (Activities/Interests/Opinions);

    ? Personality/ Self-Concept ? Behaviorial Segmentation:

    ? Occasions

    ? Benefits sought

    ? User status

    ? Usage rate

    ? Loyalty status

    ? Requirements/Criteria Of Segmenting Consumer markets)

? Measurable:

    ? Substantial:

    ? Accessible:

    ? Differential/responsiveness:

? Actionable

    Market Targeting :

    ? Evaluate Market Segments:

    ? Segment Size and Growth

    ? Segment Structural Attractiveness

    ? Company Objectives and Resources

? Goal: Only enter segments where company offers superior value & gains advantages

    over competitors.

    ? Select Market Segments:

    ? Undifferentiated marketing: Mass marketing strategy that focuses on

    commonalities rather than differences

    ?

    ?

    ? Differentiated marketing: Different Market Mix for Different Segments

    ?

    ?

    ? Concentrated marketing: Same Market Mix for Different Segments

    ?

    ?

    ? Considerations: Company resources, product variability, product life-cycle, market

    variability, competitors strategies and reactions ? Socially Responsible Target marketing:

    Positioning

    ? Identify Possible Competitive Advantages

    ? Product Differentiation

    ?

    ?

    ? Service Differentiation

    ?

    ? Channel Differentiation

    ? People Differentiation

    ? Image Differentiation:

    ? Choose Right Competitive Advantages

    ? 3 Don’ts:

    ? Underposition

    ? Overposition

    ? Confused positioning

    ? Which Differences to Promote: Criteria

    ? Important

    ? Distinctive

    ? Superior

    ? Communicable

    ? Preemptive

    ? Affordable

    ? Profitable

    Select Overall Positioning StrategyValue Proposition ? More for More

    ? More for the same

    ? Same for Less

    ? Less for Much less

    ? More for Less

    ?

    ?

    ? Same for the Same? ? Same for More, Less for Same, or Less for More???!!

    Perceptual Mapping--

Communicating and Delivering Chosen Position

? If you Claim it…

?

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