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Chapter 9: Segmentation, Targeting, and Positioning

by: Andrea Lopez

Chapter 9: Segmentation, Targeting, and Positioning MKT 301

Marketplace > University of Miami > MKT 301 > Chapter 9 Segmentation Targeting and Positioning
Andrea Lopez
GPA 3.8
Professor Kettle

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Chapter 9: Notes and Questionnaire. The notes are formatted nicely to make them clear and simple. The questions attached, are all answered in depth.
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This 5 page Bundle was uploaded by Andrea Lopez on Wednesday February 18, 2015. The Bundle belongs to MKT 301 at University of Miami taught by Professor Kettle in Spring2015. Since its upload, it has received 130 views.

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Date Created: 02/18/15
CHAPTER 9 Segmentation Targeting And Positioning THE SEGMENTATION TARGETING AND POSITIONING PROCESS STEP 1ESTABLISH OVERALL STRATEGY 0R OBJECTIVES Based on o Company s marketing strategy 0 SWOT Analysis STEP 2 SEGMENTATION Geographic Segmentation 0 Ex Ford F150 in North America vs Ford Fido in Europe 0 News channels Demographic Segmentation 0 Age income ethnicity marriage 0 Insurance Psychographic Segmentation o How consumers describe themselves Values Lifestyle SelfConcept Ex Dove Real Beauty Sketches women how unique you are beautiful you are 0 Ex Shaq and Dove men how equal you are Geodemographic Segmentation o Combines Geographic Demographic and Lifestyle Ex Region City Neighborhood Nissan Frontier Canada vs USA Bene t Segmentation o What bene t will the consumer derive Ex Business Communication vs Internet BehavioraISegmentation o Loyalty o Occasion Ex Business Travel vs Vacation vs Conference STEP 3 SEGMENTA7TRACTIVENESS Identi able Substantial how to measure substantiality Reachable can you communicate with them Responsive to our marketing efforts Pro table is it a segment that spends money on its product RES TA URAN T RE GULARS Part of behavioral segmentation Identi able o How Recognize their face same order Substantial o How to measure Reachable o How do we contact them Phone calls information system Responsive 0 Special table or seating area bring favorite drink etc Pro table 0 Tip more than other customers 0 Bring in other customers 0 Loyal customers respect them more not there on their laptops STEP 4 SELECT TARGET MARKET Undifferentiated Targeting Strategy 0 quotMass Marketingquot 0 Same product for everybody o Focused on similarities Differentiated Targeting Strategy 0 Target several segments 0 Different product for each segment 0 Different marketing mix for each segment 0 Ex basketball shoes some want to show off the Lebron shoes others just want to play basketball Concentrated Targeting Strategy 0 Single primary market 0 All efforts focused on that market Micromarketing o Oneonone marketing 0 Ex Professional services STEP 5 POSITIONING STRATEGY Value Proposition 0 Unique value offered by product service Ex Walmart Target Whole Foods Salient Attributes o What is important for the target market Price quality Symbols 0 Consistent with the positioning Ex McDonald s has cheap colors and low quality is equal to their produce their product Ex Starbucks brown and green colors suggest they have higher quality Ex Chevy and GMC truck same truck but different positioning back ground Competition 0 Who is it positioned against Ex Chipotle has competition with McDonald s Moes Taco Bell etc Perceptual Map 0 High Tesla Low High Focus Volt Prius Chevy I Low STARBUCKS Promoting ALCOHOL STRENGTHS WEAKNESSES Locations 0 Licensing 0 Brand equity 0 Expensive Loyal customers 0 Slow service 0 Atmosphere Crowded 0 Variety drinks and new staff 0 Quality OPPORTUNITIES THREATS 0 New market 0 Atmosphere 0 New Products 0 Liability Crowded in the 0 Doesn t match evening their company increase sales image 0 Drunk customers 0 New competition QUESTIONS FOR CASES What is segmentation Why do businesses segment Sustainable Competitive Advantage Why odes this matter Strengths vs Weaknesses Why do these matter How do these affect strategy Segment Attractiveness ldenti ably substantial reachable responsive pro table Marketing Study Guide Questions CHAPTER 9 Segmentation Targeting and Positioning 1 What are the various segmentation methods a b Geographic Segmentation organizes customers into groups on the basis of where they live Demographic Segmentation groups customers according to easily measured objective characteristics such as age gender income and education Psychographic Segmentation delves into how customers actually describe themselves i SelfValues goals in life not just goals a person wants to accomplish in a day ii Selfconcept the image people ideally have of themselves Lifestyles the way we live IV VALS Value and Lifestyle Survey most widely used tool to support such psychographic segmentation e o s Bene t Segmentation groups customers on the basis of the bene ts they derive from products or services Behavioral Segmentation divides customers into groups on the basis of how they use the product or service i Occasion based on when a product or service is purchased or consumed ii Loyalty strategy of investing in loyalty initiatives to retain the rm s most pro table customers Geodemographic Segmentation uses a combination of geographic demographic and lifestyle characteristics to classify consumers 2 What is a perceptual map a b Displays in two or more dimensions the position of products or brands in the consumer s mind Six steps to derive a perceptual map i Determine consumers perceptions and evaluations of the product or service in relation to competitors ii Identify the market s ideal points and size iii Identify competitors positions iv Determine consumer preferences v Select the position vi Monitor the positioning strategy


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