Download - Ch7 Segmentation, Targeting, Positioning
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Segmentation, Targeting,
and Positioning
Building the Right Relationshipswith the Right Customers
Chapter 7
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Steps in market segmentation,
targeting and positioningMarket Segmentation
Identify bases for segmenting the market Develop segment profiles
Target Marketing Develop measure of segment
attractiveness Select target segments
Market Positioning Develop positioning for target segments Develop a marketing mix for each segment
Goal 1: Learn the three steps of target marketing
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DefinitionMarket Segmentation:
Dividing a market into distinct
groups with distinct needs,characteristics, or behavior whomight require separate products ormarketing mixes.
Goal 2: Understand the major bases for segmentation
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Segmenting Consumer
MarketsGeographical segmentation
Demographic segmentation Most popular segmentation
Psychographic segmentation Lifestyle, social class, and
personality-based segmentationBehavioral segmentation
Goal 2: Understand the major bases for segmentation
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World regionor country
U.S. region State
City
Neighborhood
City or
metro size Density
Climate
Geographic SegmentationVariables
Goal 2: Understand the major bases for segmentation
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Demographic SegmentationVariables
Age
Gender
Family size Family life cycle
Income
Occupation
Education
Religion Race
Generation
Nationality
Goal 2: Understand the major bases for segmentation
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Occasions
Benefits
User Status Attitude Toward
the Product
User Rates
Loyalty Status
Readiness Stage
Behavioral SegmentationVariables
Goal 2: Understand the major bases for segmentation
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Requirements for EffectiveSegmentation
Measurable Size, purchasing power, and profile of segment
Accessible
Can be reached and servedSubstantial
Large and profitable enough to serve
Differentiable Respond differently
Actionable Effective programs can be developed
Goal 2: Understand the major bases for segmentation
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Target Marketing
Target Market Consists of a set of buyers who share
common needs or characteristicsthat the company decides to serve
Goal 3: Know how companies identify and target attractive segments
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Target Marketing
Evaluating Market Segments Segment size and growth
Segment structural attractiveness Level of competition
Substitute products
Power of buyers
Powerful suppliers Company objectives and resources
Goal 3: Know how companies identify and target attractive segments
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Choosing a Target
Marketing StrategyConsiderations include:
Company resources
The degree of product variability Products life-cycle stage
Market variability
Competitors marketing strategies
Goal 3: Know how companies identify and target attractive segments
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Target Marketing
Socially Responsible Targeting Some segments, especially children,
are at special risk Many potential abuses on the
Internet, including fraud Internetshoppers
Controversy occurs when themethods used are questionable
Goal 3: Know how companies identify and target attractive segments
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Positioning
Positioning: The place the product occupies in
consumers minds relative to competing
products. Typically defined by consumers on the
basis of important attributes. Involves implanting the brands unique
benefits and differentiation in thecustomers mind.
Positioning maps that plot perceptions ofbrands are commonly used.
Goal 4: Realize how companies position their products
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Identifying possible
competitive advantagesChoosing the rightcompetitive advantage
Choosing a positioning
strategy
Differentiation can be basedon
Products Services Channels People Image
TopicsChoosing a Positioning
Strategy
Goal 4: Realize how companies position their products
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Market Segmentation
How many differences topromote?
Unique sellingproposition
Several benefits
Which differences topromote? Criteria include:
Important
Distinctive
Superior
Communicable
Preemptive
Affordable
Profitable
TopicsIdentifying possible
competitive advantagesChoosing the rightcompetitive advantage
Choosing a positioning
strategy
Goal 4: Realize how companies position their products
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Market Segmentation
Value propositionsrepresent the fullpositioning of the brand
Possible value propositions: More for More
More for the Same
More for Less
The Same for Less
Less for Much Less
TopicsIdentifying possible
competitive advantagesChoosing the rightcompetitive advantage
Choosing a positioning
strategy
Goal 4: Realize how companies position their products
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Developing a
Positioning StatementPositioning statements summarizethe company or brand positioning
EXAMPLE: To (target segment andneed) our (brand) is (concept) that(point-of-difference)
Goal 4: Realize how companies position their products
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Communicating the
PositioningCompanies must be certain toDELIVER their value propositions.
Positions must be monitored andadapted over time.
Goal 4: Realize how companies position their products