Pillars of Marketing chapter 05
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Transcript of Pillars of Marketing chapter 05
Pillars of Marketing : Market segmentation, Target marketing Positioning & Differentiation
AMEERUL HASAN | CHAPTER NUMBER 05
Chapter Objectives
We focus on the following questions:
How can a company identify the segments that make up a market?
What criteria can a company use to choose the most
attractive target markets?
Target Marketing
Target marketing requires marketers to take three major steps:
Identify and profile distinct groups of buyers
who differ in their needs and preferences
(market segmentation).
Select one or more market segments to enter
(market targeting).
For each target segment, establish and communicate the key distinctive benefit(s) of the company’s market offering (market
positioning).
Levels and Patterns ofMarket Segmentation
Levels of Market Segmentation
Mass marketing
Micromarketing
Segment marketing Market segment
Sector
Flexible market offering
Niche Marketing
Local Marketing
Individual Customer Marketing
1. Mass-customization
2. Choiceboard
3. Customerization
Segments
Individuals
Patterns for Market Segmentation Preference segments
Homogeneous preferences
Diffused preferences
Clustered preferences
1. Natural market segments
2. Concentrated marketing
Market Segmentation Procedure Needs-based market segmentation approach
Market partitioning
1. Brand-dominant hierarchy
2. Nation-dominant hierarchy
Gogrej Ezee
Himalaya
ICICI Bank has tied up with CardPix which lets one customize ICICI cards / Picture Cards. Here is one which we customized having Preity Zinta in the background. You can do it too, having member of your family or your ultimate vacation in Europe etc on your card so that you always have those moments with you to smile
ICICI BANK
ICICI Bank has tied up with CardPix which lets one customize ICICI cards / Picture Cards. Here is one which we customized having Preity Zinta in the background. You can do it too, having member of your family or your ultimate vacation in Europe etc on your card so that you always have those moments with you to smile
Saugata Gupta, CEO (Marico -Consumer Products),
POSITIONING
It is the act of designing the company offering and image to occupy a distinctive place in the mind of target market
STP
All marketing strategies is built on STP- Sgmentation ,Targeting ,Positioning
Microsoft
Delivered hot and fresh in less than 30 Minutes or free
Targeting
Intel
Health Care – Positioning
POINT OF DIFFERENCE
POD are attributes or benefits consumers strongly asscoaites with a brand ,positively evaluate and belive they could not find to the same extent with a competitive brand
POINT OF PARITY
POPs on the other hand are associatetion the are not necessarily unique o the brand but may in fact be shared with other brands
PODs
Apple (design) Nike ( performance )
POPs
Repositioning
MOOV
Repositioned the brand from joint pain reliving balm to BACKACHE SPECIALIST ……that address to housewife
PARAS PAHARMACEUTICAL
Establishing Category Membership
Straddle Positioning Category membership Announcing category benefits
Comparing to exemplars
Relying on Product descriptor
Establishing Category Membership
Raymond lakme
BMW Amazon.com
Differentiation Strategies
Competative advantage is a company's ability to perform in one or more ways that competitors cannot or will not match
1. Personnel Differentiation
2. Channel Differentiation
3. Image Differentiation
Personnel DifferentiationsChannel Differentiations-Direct to Home
Image Differentiation
Personnnel Differentiation
Jet Air India KingFisher
Product Life Cycle -Marketing Strategy
1. Intoduction
2. Growth
3. Maturity
4. Decline
Intoduction Stage Pioneer Advantage
Coca -Cola Fair & Handsome
Wikipedia
Long Range Product Market Expansion Strategy
Marketing Strategies: Introduction Stage
The Pioneer Advantage
Inventor
Product pioneer
Market Pioneer
Marketing Strategy : MaturityStage
This stage normally last longer then the perivoius stages
Most Products are normally in maturity stages
The maturity stage is sub divided into 3 phases
1. Growth
2. Stable
3. Decaying
Strategy Market Modification
Product Modification
Marketing Program Modification
Product ModificationQuality Improvement Feature ImprovementStyle Improvement
Bajaj Scooter Bajaj Avenger Pulsar
Parle G Parle Products
Market Program Modification
Price
Distribustion
Advertising
Sales Promotions
Personal Selling
Services
Marketing Strategies Decline Stage
Identify Weak product
Lower Exit Barriers
Industry Relative attractiveness and Company competitive strength
Force India
CCD Barista