Transcript Slide 1
Announcements • Bain & Co. coming on Tuesday • Patrick Widen on Thursday • Thursday’s topic: Promotion EC Project Update • Phase I grades posted • 9:35 class: Average of 83; median 84 • 11:00 class: Average of 86; median 85 • Phase II due on 11/4/10 • “What do you plan to do differently in Phase II?” Customer-Driven Marketing Strategy Key Concepts • Market Segmentation and Market Targeting • Major bases for segmenting markets • Geographic, Demographic, Psychographic, Behavioral • Choosing the right competitive advantage • Positioning Map 6-4 Customer-Driven Marketing Strategy Bases for Segmenting Consumer Markets 7-6 Geographic Segmentation PRYSM Zip Code Lookup http://www.claritas.com/My BestSegments/Default.jsp 6-7 Demographic Variables • Differences in age, gender, family size, family life cycle, income, occupation, education, race, and religion can be used to segment markets. • Frequently used in segmentation. • Easier to measure than most other types of variables. Copyright 2007, Prentice-Hall Inc. 6-8 Psychographic Segmentation • http://www.strategicbusinessinsights.com/vals/presurvey.shtml Behavioral Segmentation • Behavioral segmentation divides a market into segments based on consumer knowledge, attitudes, uses, or responses to a product. Occasions Benefits Sought User Status Usage Rate Loyalty Status Requirements for Effective Segmentation PepsiCo 10-23-06 Analyst Meeting Copyright 2007, Prentice-Hall Inc. 6-13 • What is Bud Light’s basis for segmenting markets? • A craft beer? • Geographic • Demographic • Psychographic • Behavioral Social Media Strategies? • http://www.narragansettbeer.com/home • http://www.newbelgium.com/home.aspx Market Targeting Strategies Customer-Driven Marketing Strategy Differentiation and Positioning Beer Attributes Perceptual Maps Using Attribute Ratings Example: Positioning of Beers • Select a set of beers of interest to the target group of customers • Identify a set of key attributes to evaluate the beers • Ensure that customers are familiar with the products • Have customers evaluate the products on the chosen set of attributes Perceptual Map of Beer Market (Products Only) Heavy • Old Milwaukee Budweiser • Meister Brau • Miller Beck’s • Heineken • • • Coors Stroh’s Budget • Premium • Michelob • Miller Lite • Old Milwaukee Light Light • Coors Light Perceptual Map of Beer Market (Attributes Only) Heavy Heavy Full Bodied Popular with Men Special Occasions Good Value Blue Collar Dining Out Premium Budget Premium Popular with Women Pale Color On a Budget Light Light Less Filling Perceptual Map of Beer Market Heavy Heavy Full Bodied Old Milwaukee • Budweiser • Meister Brau • Good Value Popular with Men Miller • Beck’s • Stroh’s Budget • Heineken Special Occasions • Coors Blue Collar • Dining Out Premium Premium • Michelob • On a Budget • Pale Color Old Milwaukee Light Light Coors Light Miller Lite • Light Less Filling Popular with Women Choosing a Strategy Competitive Advantage Choosing the Right Competitive Advantage Overall Positioning Strategy Positioning Statement (or Value Proposition)