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Segmentation, Targeting and the Marketing Mix

Introduces the people and groups who work in advertising. Segmentation, Targeting and the Marketing Mix. Chapter 4 Objectives. Describe the role of marketing in creating satisfying exchanges. Explain the role of advertising in communicating a product’s utility.

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Segmentation, Targeting and the Marketing Mix

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  1. Introduces the people and groups who work in advertising Segmentation, Targeting and the Marketing Mix

  2. Chapter 4 Objectives Describe the role ofmarketing in creating satisfying exchanges Explain the role of advertising in communicating aproduct’s utility Discuss how target marketing affects the firm’s advertising strategy Identify the various methods advertisers use to segment and aggregate consumer and business markets Explain the purpose and importance of branding Describe the elements of the marketing mix and the role of advertising in the mix

  3. The Larger MarketingContext of Advertising

  4. Utility Customer’s Seller’s Awareness Attitude Interest Context of Advertising:Marketing Key Concepts Utility Exchanges Perception Satisfaction

  5. The Market Segmentation Process 1. Identify people with shared needs and characteristics

  6. The Market Segmentation Process 1. Identify people with shared needs and characteristics 2. Aggregate these groups into market segments according to their mutual interest in the product’s utility

  7. Types of Markets Two Types Consumer Business

  8. Sole Users Semi-Sole Users Discount Users Aware Nontriers Trial/Rejectors Repertoire Users Volume Segmentation Benefit Segmentation Market Segmentation Behavioristic User-Status Variables Usage-Rate Variables Purchase-Occasion Variables Benefits-Sought Variables

  9. Market Segmentation This Crate and Barrel ad targets sole users and repertoire users

  10. Market Segmentation Heavy users: Hardee’s ad marketing the Thickburger

  11. User Status Variables User-Rate Variables Purchase-Occasion Variables Benefits-Sought Variables Market Segmentation Behavioristic User Status, User Rate, Purchase Occasion, & Benefits-Sought Variables Geographic Demographic

  12. Market Segmentation Demographic segmentation: Hispanic ad spending growth by medium

  13. Market Segmentation Demographic segmentation: Heavy usage patterns of various age groups

  14. Behavioristic User Status, User Rate, Purchase Occasion, & Benefits-Sought Variables Geographic Demographic Geodemographic Segmentation Market Segmentation Psychographic VALS MindBase BehaviorGraphics

  15. MarketSegmentation Psychographic segmentation: VALS

  16. Market Segmentation Psychographic segmentation: Adidas placed ads along the Boston Marathon route to target young people who define themselves by their athletic achievements Insert left panel of Adidas ad(p. 180) (ritual/shock/denial/isolation ad panel) Position = 2.9” horizontal, 1.5” vertical Size = 2.8”wide Resolution = 300 dpi Insert right panel of Adidas ad(p. 180) (affirmation/despair/renewalad panel) Position = 5.9” horizontal, 1.5” vertical Size = 2.8” wide Resolution = 300 dpi

  17. Fewer, more-concentratedbuyers Organizationalbuyingbehavior Complexity:Manufacturers, Resellers,Brand Partnerships Market Segmentation:Business, Government, & Industry Differencesfrom ConsumerMarkets

  18. Market Segmentation:Business, Government, & Industry The NAICS hierarchy and codes can be used to search for prospective clients

  19. Product Price Place Promotion The Target Marketing Process 1. Select a target market from the market segments identified 2. Use the 4Ps of the marketing mix to shape a product concept for the market

  20. Target Market Selection Land Rover ad appeals to customers who want both safety and function

  21. The Product Element Insert ex. 6.11, p. 188 Product life cycle curve Position = 2.66” horizontal, 1.26” vertical Size = 5.84” WIDE Resolution = 300 dpi

  22. The Product Element

  23. The Product Element

  24. The Product Element Jeep positions itself as the “only one” to go anywhere on the planet

  25. The Product Element

  26. The Product Element World’s most valuable brands

  27. The Product Element

  28. The Price Element Price Factors: Demand Corporate Goals & Strategies Production &Distribution Competition

  29. Network Buyer Club Intensive Selective Push/Pull Exclusive The Place (Distribution) Element Direct Indirect

  30. DirectMarketing Product Advertising Personal Selling Sales Promotion Public Relations The Promotion Element Marketing Communication Types

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