MARKETING CLASSSession II

Marketing Strategy I

Marketing Strategy

A good marketing strategy should be drawn from Market Research and focus on the right product mix in order to achieve the maximum

profit potential and sustain the business.

S TP D

Marketing Strategy

SegmentationMarket segmentation Dividing a market into smallersegments with distinct needs,characteristics, or behaviorthat might require separatemarketing strategies or mixes.

Segmentation

Geographic segmentatio

n

Demographic

segmentation

Psychographic

segmentation

Behavioral segmentatio

n

SegmentationGeographic Segmentation

Geographic segmentation divides the market into different geographical units such as nations, regions, states, counties, or cities

SegmentationDemographic Segmentation

Demographic 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

SegmentationPsycographic Segmentation

Psychographic segmentation divides buyers into different groups based on social class, lifestyle, or personality traits

SegmentationBehavioral Segmentation

Behavioral segmentation divides buyers into groups based on their knowledge, attitudes, uses, or responses to a productOccasionsBenefits soughtUser statusUsage rateLoyalty status

SegmentationTo be useful, market segments must be:

Measurable Accessible

Substantial

Differentiable

Actionable

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

Targeting

Targeting Undifferentiated Targeting

Undifferentiated marketing targets the whole market with one offer– Mass marketing– Focuses on common needs

rather than what’s different

Targeting Differentiated Targeting

Differentiated marketing targets several different market segments and designs separate offers for each

⁻ Goal is to achieve higher sales and stronger position

⁻ More expensive than undifferentiated marketing

Targeting Concentrated Targeting

Concentrated marketing strategy which only focused targeting their products to one or several segments only (Niche Market)

Targeting Micromarceting Targeting

Micromarketing is the practice of tailoringproducts

and marketing programs to suit the tastes of specific individuals and locations

• Local marketing• Individual marketing

PositioningProduct position is the way the product is defined by consumers on important attributes—the place the product occupies in consumers’ minds relative to competing products

Perceptions Impressions Feelings

PositioningExample

Differentiation

DifferentiationIs set of differences used to differentiate a product or brand by competitors

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