Strategic Marketing Strategic Marketing Product Strategy Session II.
MARKETING CLASS Session II Marketing Strategy I Session II Marketing Strategy I.
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Transcript of MARKETING CLASS Session II Marketing Strategy I Session II Marketing Strategy I.
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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