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Marketing – Session 4

Marketing – Session 4. Research Objectives. Who are my best customers? How do I find more like them? Where do they live?. Research Objectives. What is their lifestyle? What do they read, listen to, watch? How can I reach them effectively?. Target Market Analysis. Geographics

brent-barnett
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Marketing – Session 4

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  1. Marketing – Session 4

  2. Research Objectives • Who are my best customers? • How do I find more like them? • Where do they live?

  3. Research Objectives • What is their lifestyle? • What do they read, listen to, watch? • How can I reach them effectively?

  4. Target Market Analysis • Geographics • Demographics • Volume concentration • Product usage • Potential markets

  5. Potential Markets • Several distinct customer types, or one main • Define—focused profile • Users vs. Purchasers vs. Influences • Primary target large enough? Growing? • Distinct secondary targets?

  6. Business • Location • Number of employees • Interests • Spending patterns • SIC codes

  7. Health Care Specifics • Influence of physicians vs consumers • Influence of insurance • HSO image • Emergent, urgent, convenience

  8. Total population Within 10 miles Females 18-44 Females 18-44 Who want a baby Insured by our network Actual patients

  9. Total market demand • Total volume purchased • Defined consumer group • Defined geographic area • Defined time period • Defined marketing environment • Defined marketing program

  10. Estimating market demand • Define market precisely • Secondary data • Specific (e.g. births in Weber County) • General (e.g. national use rate) • Competitors/Associations • Primary research • Area analysis

  11. Estimate organization market share • Share of the total market • Share of the served market • Share relative to leading competitor(s)

  12. Forecasting future demand • Buyer intention surveys • Middleman estimates • Market tests • Time series analysis

  13. An example… • 9,000 visits this year … wants next July’s numbers • Long-term trend shows 5% growth • Business recession is expected next year = 90% of expected • July is a below-average month (80%)

  14. Statistical Demand Analysis • Q = f(X1, X2, .,Xn) • Q = 350 + 40 S1 – 75 S2 • S1 = education level • S2 = age of center • Q = 350 + 40 (13) – 75 (4) = 570

  15. Segmentation • What is a market segment? • Criteria of a good segment • Identifiable • Accessible • Inclined to buy • Able to buy

  16. Approaches to segmentation • Concentration or convergent • Multi-segment or divergent • User-oriented • Product-usage

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