Positioning Brands, Week One.
Positioning Brands, Week One. Marketing 101
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This 3 page Class Notes was uploaded by Lisa Notetaker on Saturday August 13, 2016. The Class Notes belongs to Marketing 101 at 1 MDSS-SGSLM-Langley AFB Advanced Education in General Dentistry 12 Months taught by Professor Kahn in Fall 2016. Since its upload, it has received 18 views. For similar materials see Introduction to Marketing in Business at 1 MDSS-SGSLM-Langley AFB Advanced Education in General Dentistry 12 Months.
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Date Created: 08/13/16
Strategic Marketing: Tuesday, July 26, 2016 5:56 PM Market-Driven Principles: 1. Know your markets. 2. Customers have final say. 3. Commit being first in markets you serve and be the best at it. 4. Deliver total quality to guarantee customer satisfaction. Strategies for leadership: Operational excellence. Product differentiation. Operational competence. Customer responsiveness. Customer intimacy. Performance superiority. Segmentation and Targeting. Tuesday, July 26, 2016 7:28 PM Segmentation: Identify variables that allow one to segment the market. Targeting: Evaluate the attractiveness of each segment & choose a target segment. Positioning: Identify positioning concepts for each target segment, select the best, and communicate it. Market Segmentation: Process where a market is divided into unique subsets, and each subset just might be selected to be a marketing target, to be reached with a distinct marketing mix. Methods of segmentation: Customer characteristics. Benefits sought. Systematic, product-related behaviors *purchasing behavior*. * By channel* Cohort Analysis: Depression Cohort: Born: 1912-1927. Coming of age: 1940-1945. Share of population 6%. Post War Cohort: Born: 1946-1963. Coming of age: 146-1963. Share of population: 21%. Boomers 2 Cohort: Born: 1955-1965. Coming of age: 1972-1983. Share of population: 25%. World War ii Cohort: Born: 1922-1927. Coming of age: 1940-1945. Share of population: 6%. Boomers 1 Cohort: Born: 1946-1954. Coming of age: 1963-1972. Share of population: 17%. Gen X Cohort: Born: 1966-1976. Coming of age: 1984-1994. Share of population: 21%. Generation Y: Born: 1977-2015. Coming of age: 1995-2015. Share of population: 30%. Generation "why", Millennial's. Big shoppers, co-purchase with parents, may live with parents or be supported by parents. All information is experienced electronically. Co-creators of content/product/media, connected, socially responsible. Likes: Free content. tele-commuting, everything social, wireless, the "right fit." Dislikes: Anonymous mass marketing, beaten paths, restricted access. Geographic segmentation: Regional segmentation. Zip clustering.: distinct marketing strategies designed for similar neighborhood types stretched across the nation. For example, PRIZM. Select a target segment: Balancing attractiveness of segment with capability. Constantly monitor whether the buyers match the target segment. Criteria for selecting the segment: Size of segment. Growth of segment. Value of segment ($) Stability. Current company position within segment. Ease of entry into segment. Number/strength of competitors. Market targeting: Develop measures of segment attractiveness. Select among the attractive segments based on capability.
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