Opportunity Search Asia-Pacific Marketing Federation Certified Professional Marketer Copyright...
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Transcript of Opportunity Search Asia-Pacific Marketing Federation Certified Professional Marketer Copyright...
Opportunity SearchOpportunity Search
Asia-Pacific Marketing Asia-Pacific Marketing FederationFederation
Certified Professional MarketerCertified Professional MarketerCopyrightCopyright
Marketing Institute of SingaporeMarketing Institute of Singapore
OutlineOutline IntroductionIntroduction Analyzing Consumer TrendsAnalyzing Consumer Trends Marketing Intelligence SystemMarketing Intelligence System Segmenting, Targeting & Segmenting, Targeting &
PositioningPositioning
IntroductionIntroduction
Scanning the environmentScanning the environment is the first is the first step in the search for opportunitiesstep in the search for opportunities
Next, identify and determine relevance Next, identify and determine relevance of the trends from the environmental of the trends from the environmental scanscan
Then forecast the direction and impact Then forecast the direction and impact of each trendof each trend
Finally,Finally, evaluate the opportunity evaluate the opportunityWhat can we do?What can we do?What do we do best?What do we do best?Success Requirements—What must we do?Success Requirements—What must we do?
Gathering External InformationGathering External Information Structural changes Structural changes
e.g. Increase online purchasese.g. Increase online purchases
Mergers, acquisition, JVMergers, acquisition, JVe.g. Hong Kong i-Cable in talks to acquire e.g. Hong Kong i-Cable in talks to acquire
NetEase.com (Channel News Asia NetEase.com (Channel News Asia Interactive; 11 June 2001)Interactive; 11 June 2001)
AOL, the world's biggest Internet service AOL, the world's biggest Internet service provider, joint venture with Legend, provider, joint venture with Legend, China's largest PC manufacturerChina's largest PC manufacturer
Gathering External Information Gathering External Information (cont’d)(cont’d)
Technical trends Technical trends e.g. Convergence of consumer and e.g. Convergence of consumer and
computer electronicscomputer electronics
Broad government actions & policiesBroad government actions & policiese.g. Increasingly strong link between e.g. Increasingly strong link between
governance and social issues in East Asiagovernance and social issues in East Asia Imminent entry of China into WTOImminent entry of China into WTO
Others Others e.g. Suppliers & raw materials changese.g. Suppliers & raw materials changes
Examples of Consumer Trends in Examples of Consumer Trends in ASPACASPAC
ConvenienceConvenience Leading to the establishment of round-the-clock Leading to the establishment of round-the-clock
mini-supermarkets “Woolworths at Gulf” in New mini-supermarkets “Woolworths at Gulf” in New Zealand (Source: Retail Asia, May 2001)Zealand (Source: Retail Asia, May 2001)
Proliferation of convenience products such as 3-Proliferation of convenience products such as 3-in-1 beveragesin-1 beverages
AssessabilityAssessability Preference for one-stop stores resulting in the Preference for one-stop stores resulting in the
growth of supermarkets, hypermarkets and growth of supermarkets, hypermarkets and mass merchandisers in Asia Pacific countriesmass merchandisers in Asia Pacific countries
Examples of Consumer Trends in ASPAC Examples of Consumer Trends in ASPAC (cont’d)(cont’d)
Face Face Individuals upgrading of their condominiums; Individuals upgrading of their condominiums;
educational level; autormobile; private clubseducational level; autormobile; private clubs Proliferation of counterfeit or look-alike Proliferation of counterfeit or look-alike
consumer products of well-known brandsconsumer products of well-known brands
Health ConsciousnessHealth Consciousness Business people in Hong Kong, Korea, Taiwan, Business people in Hong Kong, Korea, Taiwan,
Malaysia, Singapore are taking less alcohol Malaysia, Singapore are taking less alcohol when entertaining clientswhen entertaining clients
Growing consumption of organic foodstuffGrowing consumption of organic foodstuff
Marketing IntelligenceMarketing Intelligence
The Intelligence ProcessThe Intelligence Process Intelligence SystemsIntelligence SystemsGathering marketing intelligenceGathering marketing intelligence
Core Requirement of Intelligence Core Requirement of Intelligence ProcessProcess
Know what to do with the information Know what to do with the information What is important?What is important? What can be discarded or preserved?What can be discarded or preserved? How to ensure accessibility?How to ensure accessibility?
TimelinessTimeliness Deciding, gathering and understanding is time Deciding, gathering and understanding is time
consumingconsuming ““Knowledge a week too late is the same as ignorance”Knowledge a week too late is the same as ignorance”11
(Source: George Friedman et al.; “The Intelligence Edge: How to Profit in the Information (Source: George Friedman et al.; “The Intelligence Edge: How to Profit in the Information Age”; 1997 ed.)Age”; 1997 ed.)
Intelligence SystemsIntelligence Systems
Informal (intuitive) versus formal Informal (intuitive) versus formal intelligence systemsintelligence systemsAsian executives are more incline towards Asian executives are more incline towards
informal gathering of intelligence through informal gathering of intelligence through close relationship and networkingclose relationship and networking
Passive versus active intelligencePassive versus active intelligence Intelligence techniques and technologyIntelligence techniques and technology
Managing the public domain e.g. Lexis, NexisManaging the public domain e.g. Lexis, Nexis
Gathering Marketing IntelligenceGathering Marketing Intelligence
SpaceSpaceWhere can information be found?Where can information be found?
TimeTimeHow long will it take to find it?How long will it take to find it?
MoneyMoneyWhat is the value of the information?What is the value of the information?
It depends on how much information is enough
Market SegmentationMarket Segmentation
““Market Segmentation is the Market Segmentation is the subdividing of a market into subdividing of a market into distinct distinct subsets of customerssubsets of customers, where any , where any subset may conceivably be selected subset may conceivably be selected as as a market target a market target to be reached to be reached with a with a distinct marketing mixdistinct marketing mix.”.”
-- Philip Kotler-- Philip Kotler
GeographicGeographic DemographicDemographic PsychographicsPsychographics BehavioristBehaviorist
Major Segmentation VariablesMajor Segmentation Variables
Geographic SegmentationGeographic Segmentation
RegionRegion County sizeCounty size CityCity DensityDensity ClimateClimate
Demographic SegmentationDemographic Segmentation
Most popular because consumer wants, Most popular because consumer wants, preferences, and usage rates are preferences, and usage rates are usually associated with demographic usually associated with demographic variables that are easily measuredvariables that are easily measured
AgeAge SexSex Family sizeFamily size Family life cycle Family life cycle IncomeIncome OccupationOccupation EducationEducation RaceRace NationalityNationality Social classSocial class
PsychographicsPsychographics
Social ClassSocial Class From six American Social Classes to >40 classes From six American Social Classes to >40 classes
now in the Westnow in the West In more developed ASPAC countries, generally 3 In more developed ASPAC countries, generally 3
classes—Upper, middle and lowerclasses—Upper, middle and lower In less developed ASPAC countries, only 2 classesIn less developed ASPAC countries, only 2 classes
—the Haves and the Have-nots—the Haves and the Have-nots
Life styleLife style Expressed through goods consumed e.g. RolexExpressed through goods consumed e.g. Rolex
PersonalityPersonality Give products brand personalities to correspond to Give products brand personalities to correspond to
consumer personalitiesconsumer personalities
Behavior SegmentationBehavior Segmentation
Purchase occasionPurchase occasion Benefits soughtBenefits sought User statusUser status Usage rateUsage rate Loyalty statusLoyalty status Readiness stageReadiness stage AttitudeAttitude
MeasurabilityMeasurability How well can we measure the size & How well can we measure the size &
purchasing power of the segment?purchasing power of the segment?
AccessibilityAccessibility How well can the segment be reached & How well can the segment be reached &
served?served?
SubstantialitySubstantiality Is segment large or profitable enough?Is segment large or profitable enough?
ActionabilityActionability Can we formulate an effective program?Can we formulate an effective program?
Requirements for effective Requirements for effective SegmentationSegmentation
Market TargetingMarket Targeting
How many segments to cover ?How many segments to cover ? Undifferentiated MarketingUndifferentiated Marketing Differentiated MarketingDifferentiated Marketing Concentrated MarketingConcentrated Marketing
How to identify the best segment ?How to identify the best segment ? Product - Market MatrixProduct - Market Matrix
Mkg Mix 1
Mkg Mix 2
Mkg Mix 3
Segment 1
Segment 2
Segment 3
CompanyMarketing Mix
MarketCompanyMarketing Mix
Market Targeting (Pictorial Market Targeting (Pictorial Presentation)Presentation)
Market PositioningMarket Positioning
A product’s position is the A product’s position is the placeplace the position occupies the position occupies in consumers’ in consumers’ minds minds relativerelative to competing to competing productsproducts
-- Philip Kotler-- Philip Kotler
““Positioning is the first body of Positioning is the first body of thought to come to grips with the thought to come to grips with the problems of communicating in an problems of communicating in an over-communicated society”over-communicated society”
-- Al Ries & Jack Trout-- Al Ries & Jack Trout
Getting Into the Consumer MindGetting Into the Consumer Mind
The easy way to get into a The easy way to get into a person’s mind is to be firstperson’s mind is to be first
In communication, less is moreIn communication, less is more The product ladderThe product ladder The F.W.M.T.S. (Forget What The F.W.M.T.S. (Forget What
Makes Them Successful) TrapMakes Them Successful) Trap
(Source: Al Ries & Jack Trout; “Positioning: (Source: Al Ries & Jack Trout; “Positioning: The Battle for your Mind”)The Battle for your Mind”)
Positioning StrategiesPositioning Strategies
Product Attributes PositionProduct Attributes Position Needs or Benefits PositionNeeds or Benefits Position Usage OccasionsUsage Occasions Against-the-Competitor PositionAgainst-the-Competitor Position Away-from-Competitor PositionAway-from-Competitor Position Product Class PositionProduct Class Position Combination PositionCombination Position