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What We Will Discuss Today

What We Will Discuss Today. Recap of Previous Session Video Segmentation Review and Background Impact on Gift Giving Bases of Segmentation Criteria For Segmentation Targeting Evaluating Market Segments Patterns of Selection and Strategies Positioning Quiz. Background on STP.

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What We Will Discuss Today

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  1. What We Will Discuss Today • Recap of Previous Session • Video • Segmentation • Review and Background • Impact on Gift Giving • Bases of Segmentation • Criteria For Segmentation • Targeting • Evaluating Market Segments • Patterns of Selection and Strategies • Positioning • Quiz

  2. Background on STP • Mass Marketing • Product Variety Marketing • Target Marketing • Relationship Marketing

  3. STEP 2: Targeting • Market Targeting: Process of evaluating each market segment’s attractiveness and selecting one or more of the market segments to enter.

  4. STEP 3: Positioning • Market Positioning: Process of formulating a competitive positioning for a product and a detailed marketing mix. • Goal of Positioning: The product should occupy a clear, distinctive and desirable place relative to competing products in the minds of consumers. Reputation • CSUN Quality • OTHER CSUs

  5. The Gift Giving Market 1A Benefits Segmentation • 4 Stages of a Relationship:

  6. The Gift Giving Market 2A Benefits Segmentation • Characteristics:

  7. The Gift Giving Market 3A Benefits Segmentation • Product Differentiation:

  8. Bases for Segmentation • Geographic • Demographic • Psychographic • Social class • Lifestyle • Personality • Behavioral • Occasions • Benefits sought • Loyalty

  9. Criteria for Segmentation • Measurability - degree to which the size and purchasing power of a segment can be measured • Accessibility - degree to which markets can be effectively reached and served. • Substantiality -degree to which segments are large and profitable enough. • Actionability -degree to which effective programs can be formulated for attracting and serving segments • Collectively Exhaustive and Mutually Exclusive

  10. Market Targeting (1): Evaluating Segments 3 Cs: • Consumers • Size • Growth potential • Competitive situation • Nature of competition • Substitutes • Power of suppliers and buyers • Company • objectives • resources

  11. Market Targeting (2): Selecting Segments • Undifferentiated • Focus on what is common among consumers • Mass marketing • Differentiated • Target several market segments • Develop separate offers for each • Concentrated • Focus on large share of some market

  12. Factors Affecting Targeting Strategy • Resources • Variability (Product and Market) • Competitors’ Strategies

  13. Patterns of Target Market Selection 1 • Single-Segment Concentration - niche (VW) • Product Specialization - 1 product, different markets • Market Specialization - 1 market, different products • Selective Specialization - different segments each matching the firm’s competitive advantages • Full Coverage - all products, all markets

  14. Patterns of Target Market Selection 2 M1 M2 M3 M1 M2 M3 M1 M2 M3 P1 P2 P3 P1 P2 P3 P1 P2 P3 M1 M2 M3 M1 M2 M3 P = Product M = Market P1 P2 P3 P1 P2 P3

  15. A Marketing Strategy Plan Airlines Railroads Truckers B Large Computers Workstations PCs B B A A A C

  16. Positioning: 4 Ps • Product • Price • Place • Promotion

  17. What We Discussed Today I wish he’d let us take the quiz. • Recap of Previous Session • Video • Segmentation • Review and Background • Impact on Gift Giving • Bases of Segmentation • Criteria For Segmentation • Targeting • Evaluating Market Segments • Patterns of Selection and Strategies • Positioning • Quiz

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