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Bmgt 205 chapter_9
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Transcript of Bmgt 205 chapter_9
BMGT 205: Principles of Marketing
Segmentation, Targeting, and Positioning
Review Segment Examples and Discuss
Learning Objectives
Segmentation, Targeting, Positioning Process
Step 1 ••Strategy or Objectives
Step 2 ••Segmentation Methods
Step 3 ••Evaluate Segment Attractiveness
Step 4 ••Select Target Market
Step 5 ••Identify and Develop Positioning Strategy
Segmentation
Targeting
Positioning
Step 1: Establish Overall Strategy or Objectives
SWOT Analysis Derived from mission and current state
http://youtu.be/YDCY56azew8
Step 2: Segmentation Methods
CHECK YOURSELF
1. What are the various segmentation methods?
Step 3: Evaluate Segment AttractivenessSEGMENT ATTRACTIVENESS
Substantial Reachable Responsive Profitable Identifiable
Identifiable
• Who is in their market?
• Are the segments unique?
• Does each segment require a unique marketing mix?
Substantial
• Too small and it is insignificant
• Too big and it might need it’s own store
Reachable
Know the product exists
Understand what it can do
Recognize how to buy
Responsive
React positively to firm’s offering
Move toward the firms products/services
Accept the firm’s value proposition
Customers must:
Profitable
Step 4: Selecting a Target Market
Target Segment
Segmentation StrategyTargeting Strategies
Differentiated ConcentratedMicromarketing
orone-to-one
Undifferentiated ormass marketing
Step 5: Develop Positioning Strategy
Positioning Methods • Value • Salient Attributes • Symbol • Competition
Positioning Steps
1. Determine consumers’
perceptions and evaluations in
relation to competitors’.
2. Identify the market’s ideal
points and size.
3. Identify competitors’
positions.
4. Determine consumer
preferences.
5. Select the position.
6. Monitor the positioning strategy.
Positioning Maps Example
CHECK YOURSELF
1. What is a perceptual map? 2. Identify the six positioning steps.
Key Terms
• Benefit segmentation groups consumers on the basis of the benefits they derive from products or services.
• Demographic segmentation groups consumers according to easily measured, objective characteristics such as age, gender, income, and education.
• Geodemographic segmentation uses a combination of geographic, demographic, and lifestyle characteristics to classify consumers.
• Geographic segmentation organizes customers into groups on the basis of where they live.
Key Terms
• Behavioral segmentation divides customers into groups based on how they use the product or service.
• Psychographic segmentation, or psychographics, allows people to describe themselves using characteristics that help them choose how they occupy their time (behavior) and what underlying psychological reasons determine these choices.
• The Value and Lifestyle Survey (VALS) is a psychographic tool that classifies consumers into eight categories based on their answers to a questionnaire.