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Applied Mareking

Applied Mareking. What is a market segment?. A market segment consists of a group of customers who share a similar set of needs and wants. Segmenting consumer markets. 1. 2. 3. 4. Geographic. Demographic. Psychographic. Behavioural. Geographic segmentation. Region of the world

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Applied Mareking

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  1. Applied Mareking

  2. What is a market segment? A market segment consists of a group of customers who share a similar set of needs and wants.

  3. Segmenting consumer markets 1. 2. 3. 4. Geographic Demographic Psychographic Behavioural

  4. Geographic segmentation • Region of the world • Country • Region of a country • City

  5. Demographic segmentation Age and life cycle Life Stage Gender Income Generation Social class

  6. Psychographic segmentation Psychographic segmentation divides buyers into different groups on the basis of traits, lifestyles or values.

  7. Behavioral segmentation: decision roles Initiator Influencer Decider Buyer User

  8. Behavioural segmentation: behavioural variables • Occasions • Benefits • User status • Usage rate • Buyer-readiness • Loyalty status • Attitude

  9. Behavioral segmentation breakdown Figure 10.4Behavioural segmentation breakdown

  10. Figure 10.3Brand funnel

  11. Relationship Ladder

  12. The conversion model Convertible Shallow Average Entrenched Nonusers Users Strongly unavailable Weakly unavailable Ambivalent Available

  13. Purchase decision Process

  14. AIDA Model Desire Attention Interest Action

  15. Three Product Levels

  16. What is positioning? Positioning is the act of designing the company’s offering and image to occupy a distinctive place in the mind of the target market.

  17. Examples of Value propositions Table 10.8 Examples of value propositionsSource : M. R. V. Goodman, Durham University

  18. Defining associations Points-of-difference (PODs) • Attributes or benefits consumers strongly associate with a brand, positively evaluate and believe they could not find to the same extent with a competitive brand. Points-of-parity (POPs) • Associations that are not necessarily unique to the brand but may be shared with other brands. • Necessary but not sufficient

  19. Negatively correlated attributes and benefits Table 10.10 Examples of negatively correlated attributes and benefits

  20. Understanding competitive structure of a market • How do customers view the brand? • Which competitive brands do customers perceive to be their closest competitors? • What market offering and company attributes are most responsible for these perceived differences?

  21. What is perceptual mapping? Perceptual(or positioning) mappingis a marketing tool that enables marketers to plot the position of theiroffering against thoseof the competition? Figure 10.7 Example positioning map of the UK chocolate block sector marketSource : M. R. V. Goodman, Durham University

  22. Product differentiation • Product form • Features • Performance • Conformance • Durability • Reliability • Reparability • Style • Design • Ordering ease • Delivery • Installation • Customer training • Customer consulting • Maintenance

  23. Lessons from product life cycles Products (market offerings) have a limited life. Sales pass through distinct stages, each posing different challenges, opportunities and problemsto the seller. Profits rise and fall at different stages of the product life cycle. Products require different marketing, financial, manufacturing, purchasing and human resource strategies at each stage.

  24. Long-range product life cycle

  25. Introduction Growth Maturity Decline

  26. PLC Style, Fashion, Fad

  27. Where do these fall on the PLC • FAX • TABLET PC • DESKTOP PC • MOBILE PHONE • SMART PHONE • CALCULATOR • ULTRABOOK • E-READER

  28. What about these? • CRT TV • LCD TV • LED TV • PLASMA TV • 3-D TV • WINDOWS 98 • WINDOW XP • WINDOWS VISTA • WINDOWS 7 • WINDOWS 8

  29. Ansoff’s Matrix

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