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Transcript of Marketing chapter 7[1]

Slide 1

Ch 7 -*Copyright 2011 Pearson Education

Principles of Marketing, Arab World Edition Philip Kotler, Gary Armstrong, Anwar Habib, Ahmed TolbaPresentation prepared by Annelie Moukaddem Baalbaki

CHAPTER SEVENCustomer-Driven Marketing Strategy: Segmentation, Targeting & PositioningLecturer: Insert your name hereCh 7 -*Copyright 2011 Pearson Education

Chapter Learning Outcomes

7.1 Customer-Driven Marketing Strategy7.2 Market Segmentation7.3 Market Targeting7.4 Differentiation and Positioning

Ch 7 -*Copyright 2011 Pearson EducationTopic Outline

Segmentation, Targeting and PositioningMarket segmentation is the process that companies use to divide large heterogeneous markets into small markets that can be reached more efficiently and effectively with products and services that match their unique needs.

Market targeting (targeting) is the process of evaluating each market segments attractiveness and selecting one or more segments to enter.

Segmentation and TargetingCh 7 -*Copyright 2011 Pearson Education

Segmentation, Targeting and PositioningDifferentiation involves actually differentiating the market offering to create superior customer value.

Positioning consists of arranging for a market offering to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers.

Market Differentiation and PositioningCh 7 -*Copyright 2011 Pearson Education

Market SegmentationCh 7 -*Copyright 2011 Pearson Education

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Market SegmentationSegmenting consumer marketsSegmenting business marketsSegmenting international marketsRequirements for effective segmentation

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Market SegmentationSegmenting Consumer Markets

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Market SegmentationGeographic segmentation divides the market into different geographical units such as nations, regions, provinces, parishes, cities, or even neighborhoods.

Segmenting Consumer Market

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Market SegmentationDemographic segmentation divides the market into groups based on variables such as age, gender, family size, family life cycle, income, occupation, education, religion, race, generation, and nationality.

Segmenting Consumer MarketsCh 7 -*Copyright 2011 Pearson Education

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Market SegmentationAge and life-cycle stage segmentation is the process of offering different products or using different marketing approaches for different age and life-cycle groups.

Gender segmentation divides the market based on sex (male or female).

Income segmentation divides the market into affluent or low-income consumers.

Demographic Segmentation

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Market SegmentationPsychographic segmentation divides buyers into different groups based on social class, lifestyle, or personality characteristics.

Psychographic Segmentation

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Market SegmentationBehavioral segmentation divides buyers into groups based on their knowledge, attitudes, uses, or responses to a product. Occasions Benefits sought User status Usage rate Loyalty status

Behavioral SegmentationCh 7 -*Copyright 2011 Pearson Education

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Market SegmentationMultiple segmentation is used to identify smaller, better-defined target groups.

Using Multiple Segmentation Bases

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Market SegmentationSegmenting Business MarketsCh 7 -*Copyright 2011 Pearson Education

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Market SegmentationSegmenting International marketsCh 7 -*Copyright 2011 Pearson Education

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Market SegmentationInter-market segmentation divides consumers into groups with similar needs and buying behaviors even though they are located in different countries.

Segmenting International Markets

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Market SegmentationTo be useful, market segments must be:

Requirements for Effective Segmentation

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Market Targeting Target market consists of a set of buyers who share common needs or characteristics that the company decides to serve.

Target Market Ch 7 -*Copyright 2011 Pearson Education

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Market TargetingSegment size and growthSegment structural attractivenessCompany objectives and resourcesEvaluating Market Segments

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Market TargetingCh 7 -*Copyright 2011 Pearson Education

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Market TargetingUndifferentiated marketing targets the whole market with one offerMass marketingFocuses on common needs rather than whats different

Selecting Target Marketing SegmentsCh 7 -*Copyright 2011 Pearson Education

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Market TargetingDifferentiated marketing targets several different market segments and designs separate offers for each. Goal is to achieve higher sales and a stronger position More expensive than undifferentiated marketing

Selecting Target Marketing Segments

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Market TargetingConcentrated marketing targets a large share of one or a few smaller segments or niches. Limited company resources Knowledge of the market More effective and efficient

Selecting Target Marketing Segments

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Market TargetingMicromarketing is the practice of tailoring products and marketing programs to suit the tastes of specific individuals and locations. Local marketing Individual marketing

Selecting Target Marketing Segments

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Market TargetingLocal marketing involves tailoring brands and promotion to the needs and wants of local customer groups Cities Neighborhoods Stores

Selecting Target Marketing Segments

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Market TargetingIndividual marketing involves tailoring products and marketing programs to the needs and preferences of individual customers.Also known as:One-to-one marketingCustomized marketing or mass customizationMarkets-of-one marketing

Target Market Strategies

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Market TargetingDepends on: Company resources Product variability Product life-cycle stage Market variability Competitors marketing strategies

Choosing a Targeting Strategy

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Market TargetingConcern for vulnerable segments (Children) with controversial or potentially harmful products.

Cigarettes Internet abuses

Socially Responsible Target Marketing

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Differentiation and PositioningProduct position is the way the product is defined by consumers on important attributesthe place the product occupies in consumers minds relative to competing products.PerceptionsImpressionsFeelings

PositioningCh 7 -*Copyright 2011 Pearson Education

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Differentiation and PositioningCh 7 -*Copyright 2011 Pearson Education

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Differentiation and PositioningIdentifying a set of possible competitive advantages to build a positionChoosing the right competitive advantagesSelecting an overall positioning strategy

Choosing a Differentiation and Positioning Strategy

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Differentiation and PositioningCompetitive advantage is an advantage over competitors gained by offering consumers greater value, either through lower prices or by providing more benefits that justify higher prices.

Choosing a Differentiation and Positioning Strategy

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Differentiation and PositioningIdentifying a set of possible competitive advantages to build a position by providing superior value from:

Identifying Possible Value Differences and Competitive AdvantagesCh 7 -*Copyright 2011 Pearson Education

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Differentiation and PositioningDifference to promote should be:

Choosing the Right Competitive Advantage

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Differentiation and PositioningCh 7 -*Copyright 2011 Pearson Education

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Differentiation and PositioningTo (target segment and need) our (brand) is (concept) that (point of difference).

Developing a Positioning Statement

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Communication and Delivering the Chosen PositionA company must take steps to deliver and communicate the desired position to target consumers.

Choosing the positioning is often easier than implementing the position.Delivering the chosen positionCh 7 -*Copyright 2011 Pearson Education

Pearson Education 2011