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Fundamentals of Marketing

Chris Banman Fall 2010 471.21 Providence College. Fundamentals of Marketing. chapter 3. Segmenting & Positioning. product - market. narrow market. product- market. narrow market. Finding Market Opportunities. “needs” all customers have. mobility. similar needs

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Fundamentals of Marketing

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  1. Chris Banman Fall 2010 471.21 Providence College Fundamentals of Marketing

  2. chapter 3 Segmenting & Positioning

  3. product- market narrow market product- market narrow market Finding Market Opportunities “needs” all customers have mobility similar needs dissimilar products human transport generic markets product- market product- market similar needs similar products bikes | cars | trucks increasingly- homogeneous “needs” job | recreation

  4. exercisers transportation riders socializers off-road adventurers product- market product- market environmentalists Finding Market Opportunities disaggregating “needs” all customers have generic markets narrow market narrow market

  5. Finding Market Opportunities disaggregating re-aggregating status dependability

  6. How To Segment “desires” dimensions • qualifying • determining • product • brand customer “features” “benefits” product “features” “benefits” brand “features” specific unpredictable changeable

  7. Case Discussion McDonalds Seniors • topics • key issues • root causes • alternatives • recommendation • how implemented

  8. Ethical Issues exploitation “desires” • needs • wants • cravings harm • emotional • financial • other?

  9. Reading Assessment The Age of Persuasion http://www.cbc.ca/ageofpersuasion/

  10. income age sex family size family life cycle occupation education ethnicity geography community size Segmenting Dimensions just a few

  11. “needs” economic functional physiological psychological social judgments attitudes interests opinions beliefs rates of use heavy | med | light information required low | med | hi brand familiarity insistence preference recognition non-recognition rejection Segmenting Dimensions a few more

  12. strength of relationship place in value chain retailer wholesaler manufacturer industrial sector government military school business big small buying decision single-person? single-influence? single decision decentralized? po? sample first? Segmenting Dimensions and a few more

  13. High moisturizing 7 4 2 5 8 nondeodorant deodorant 3 1 6 low moisturizing Positioning Jergens Zest Olay Dove Safeguard Coast Lux Dial Lifebuoy Ivory

  14. Newer Techniques • data mining • http://www.anderson.ucla.edu/faculty/jason.frand/teacher/technologies/palace/datamining.htm • CRM (Customer Relationship Management) • http://www.maximizer.com/ • shopping behaviour analysis • http://www.sbxl.com/

  15. market generic market product market market segmentation segmenting market segment single target market multiple target market combined target market combiners segmenters qualifying dimensions determining dimensions clustering techniques Customer Relationship Management (CRM) positioning selling proposition Key Terms

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