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Chapter 4: UNDERSTANDING the MARKET ENVIRONMENT: SEGMENTING, TARGETING and POSITIONING 4.1

Chapter 4: UNDERSTANDING the MARKET ENVIRONMENT: SEGMENTING, TARGETING and POSITIONING 4.1. STP Marketing & Evolution of Marketing Strategy. Segmentation Target Segment Brand Positioning STP Marketing 4.2. The Value of STP Marketing. Precise Specification of Marketing Objectives

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Chapter 4: UNDERSTANDING the MARKET ENVIRONMENT: SEGMENTING, TARGETING and POSITIONING 4.1

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  1. Chapter 4: UNDERSTANDING the MARKET ENVIRONMENT: SEGMENTING, TARGETING and POSITIONING 4.1

  2. STP Marketing & Evolution of Marketing Strategy • Segmentation • Target Segment • Brand Positioning STP Marketing 4.2

  3. The Value of STP Marketing • Precise Specification of Marketing Objectives • Better Understanding of Needs and Motives of Target Market • Better Understanding of Customers and Noncustomers • More Efficient Allocation of Resources • Ability to Assess Strengths and Weaknesses • Ability to Identify Messages to be Used Across All Promotional Tools • Better IMC Management of Promotional Effort • Ability to Respond More Quickly to Changes in the Environment 4.3

  4. Beyond STP Marketing • STP Decisions are Continuously Evolving Due to the Dynamic Nature of Markets • To Maintain the Profitability of Brands, Segmentation Decisions Must be Reassessed Regularly • Product Differentiation Infuses STP Decisions with Vitality 4.4

  5. Demographic Segmentation • Segmentation Based on Physical Descriptors of Individuals • Age • Gender • Ethnic Background • Education • Marital Status • Occupation 4.5

  6. Brands in Common Product Categories Can Be Targeted to Audiences Based on Ethnic Background 4.6

  7. What is the Basis for Segmentation in this Message? 4.7

  8. Identifying Target Segments • Geographic Segmentation • Climate & Topographical Features • Food Preferences & Preparation Habits • Entertainment Preferences • Recreational Activities • Geodemographic Segmentation • PRIZM 4.8

  9. Identifying Target Segments (con’t) • Usage Patterns & Commitment Levels • Heavy Users • Nonusers • Brand Loyal Users • Switchers or Variety Seekers • Emergent Customers • Psychographic & Lifestyle Segmentation • AIO’s • Benefit Segmentation 4.9

  10. A Classic Example of Benefit Segmentation 4.10

  11. Segmenting Business-to-Business Markets TYPES OF ORGANIZATION SEGMENTATION STANDARD INDUSTRIAL CLASSIFICATION (SIC) SEGMENTATION SIZE OF ORGANIZATION SEGMENTATION GEOGRAPHIC LOCATION SEGMENTATION END USE OF SEGMENTATION HORIZONTAL & VERTICAL MARKET SEGMENTATION 4.11

  12. Prioritizing Target Segments CAPABILITIES OF THE ORGANIZATION SIZE AND GROWTH POTENTIAL OF THE SEGMENT COMPETITIVE FIELD 4.12

  13. Formulating a Positioning Strategyfor a Brand ESSENTIALS OF EFFECTIVE BRAND POSITIONING STRATEGIES • Substantive Value • Consistency • Simplicity & Distinctiveness FUNDAMENTAL BRAND POSITIONING THEMES • Benefit Positioning • User Positioning • Competitive Positioning REPOSITIONING BRANDS 4.13

  14. Would You Say That Being “Cool” Offers Substantive Value as a Basis Positioning Strategy? 4.14

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