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Segmenting, Targeting and positioning

Topic Six: Identifying customer values. Segmenting, Targeting and positioning. Objectives. Identifying Market Segments Choosing Target Markets Positioning for competitive advantages. Market Segmentation. Market Targeting. Market Positioning. 1. Identify segmentation variables and

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Segmenting, Targeting and positioning

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  1. Topic Six: Identifying customer values Segmenting, Targeting and positioning

  2. Objectives • Identifying Market Segments • Choosing Target Markets • Positioning for competitive advantages

  3. Market Segmentation Market Targeting Market Positioning 1. Identify segmentation variables and segment the market 2. Develop profiles of resulting segments 3. Evaluate attractiveness of each segment 4. Select the target segment(s) 5. Identify possible positioning concepts for each target segment 6. Select, develop, and communicate the chosen positioning concept Steps in Market Segmentation, Targeting,and Positioning

  4. (a) Homogeneous preferences (b) Diffused preferences (c) Clustered preferences Creaminess Creaminess Creaminess Sweetness Sweetness Sweetness Basic Market-Preference Patterns

  5. Market-Segmentation Procedure • Survey • Motivations • Attitudes • Behavior • Analysis • Factors • Clusters • Profiling

  6. Geographic Region, City or Metro Size, Density, Climate Psychographic Lifestyle or Personality Behavioral Occasions, Benefits, Uses, or Attitudes Bases for Segmenting Consumer Markets Demographic Age, Gender, Family size and Life cycle, Race, Occupation, or Income ...

  7. Bases for Segmenting Business Markets • Demographic • Operating Variables • Purchasing Approaches • Situational Factors • Personal Characteristics

  8. Measurable • Size, purchasing power, profiles of segments can be measured. • Segments can be effectively reached and served. • Segments must be large or profitable enough to serve. • Segments must respond differently to different marketing mix elements & actions. • Must be able to attract and serve the segments. Effective Segmentation Substantial Accessible Differential Actionable

  9. Additional Segmentation Criteria • Ethical Choice of Market Targets • Segment Interrelationships & Supersegments • Segment-by-Segment Invasion Plans • Intersegment Cooperation

  10. Single-segment concentration Product specialization Selective specialization M1 M2 M3 M1 M2 M3 M1 M2 M3 P1 P2 P3 P1 P2 P3 P1 P2 P3 Market specialization Full market coverage M1 M2 M3 M1 M2 M3 P1 P2 P3 P1 P2 P3 P = Product M = Market Five Patterns of Target Market Selection

  11. Customer Groups Airlines Railroads Truckers Large computers Product Varieties Mid-size computers Personal computers Company A Company B Company C Segment-by-SegmentInvasion Plan

  12. Product Differentiation Form Fea- tures Perfor- mance Quality Conform- ance Quality Dura- bility Relia- bility Repair- ability Style Design

  13. Miscellaneous Services Services Differentiation Ordering Ease Installation Customer Consulting Delivery Customer Training Maintenance & Repair

  14. Image Differentiation Media Symbols Atmosphere Events

  15. Important Profitable Distinctive Differences Worth Establishing Affordable Superior Preemptive

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

  17. Live shows 1.0 0.8 0.6 0.4 0.2 Easy to reach Little waiting Good food Fantasy Educational, animals Exercise Marineland of the Pacific Fun rides Knott’s Berry Farm Japanese Deer Park Disneyland -1.6 -1.4 -1.2 -1.0 -0.8 -0.6 -0.4 -0.2 0.2 0.4 0.6 0.8 1.0 1.2 1.4 1.6 -0.2 -0.4 -0.6 -0.8 Magic Mountain Lion Country Safari Busch Gardens Economical Perceptual Map

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