Transcript What We Will Discuss Today

What We Will Discuss Today

Recap of Previous Session
– Video
– Segmentation
 Review and Background
 Impact on Gift Giving

Bases of Segmentation
– Criteria For Segmentation

Targeting
– Evaluating Market Segments
– Patterns of Selection and Strategies


Positioning
Quiz
Background on STP
 Mass
Marketing
 Product Variety
 Target
Marketing
Marketing
 Relationship
Marketing
STEP 2: Targeting
 Market
Targeting: Process of evaluating
each market segment’s attractiveness
and selecting one or more of the market
segments to enter.
STEP 3: Positioning
Market Positioning: Process of formulating a
competitive positioning for a product and a detailed
marketing mix.
 Goal of Positioning: The product should occupy
a clear, distinctive and desirable place relative
to competing products in the minds of consumers.

Reputation
OTHER
CSUs
CSUN
Quality
The Gift Giving Market 1
A Benefits Segmentation
4 Stages of a Relationship:
The Gift Giving Market 2
A Benefits Segmentation
Characteristics:
The Gift Giving Market 3
A Benefits Segmentation
Product Differentiation:
Bases for Segmentation
 Geographic
 Demographic
 Psychographic
– Social class
– Lifestyle
– Personality
 Behavioral
– Occasions
– Benefits sought
– Loyalty
Criteria for Segmentation
 Measurability
 Accessibility
 Substantiality
 Actionability
 Collectively
Exclusive
- degree to which the size and purchasing
power of a segment can be measured
- degree to which markets can be
effectively reached and served.
-degree to which segments are large and
profitable enough.
-degree to which effective programs can be
formulated for attracting and serving
segments
Exhaustive and Mutually
Market Targeting (1): Evaluating
3 Cs:
 Consumers
– Size
– Growth potential
 Competitive
situation
– Nature of competition
– Substitutes
– Power of suppliers and buyers
 Company
– objectives
– resources
Segments
Market Targeting (2): Selecting
Segments
 Undifferentiated
– Focus on what is common among consumers
– Mass marketing
 Differentiated
– Target several market segments
– Develop separate offers for each
 Concentrated
– Focus on large share of some market
Factors Affecting Targeting
Strategy
 Resources
 Variability
(Product and Market)
 Competitors’ Strategies
Patterns of Target Market
Selection 1
 Single-Segment
Concentration - niche (VW)
 Product Specialization - 1 product, different markets
 Market Specialization - 1 market, different products
 Selective Specialization - different segments each
matching the firm’s competitive
advantages
 Full
Coverage - all products, all markets
Patterns of Target Market
Selection 2
M1
M2 M3
M1
M1
M2 M3
P1
P1
P1
P2
P2
P2
P3
P3
P3
M1
M2 M3
M1
P = Product
P1
P1
M = Market
P2
P2
P3
P3
M2 M3
M2 M3
A Marketing Strategy Plan
Airlines
Large
Computers
B
Railroads Truckers
B
B
A
Workstations
A
PCs
A
C
Positioning: 4 Ps
 Product
 Price
 Place
 Promotion
What We Discussed Today
Recap
of Previous Session
–Video
–Segmentation
Review and Background
Impact on Gift Giving
Bases
of Segmentation
–Criteria For Segmentation
Targeting
–Evaluating Market Segments
–Patterns of Selection and Strategies
Positioning
Quiz
I wish he’d
let us take
the quiz.