Pillars of Marketing chapter 05

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Pillars of Marketing : Market segmentation, Target marketing Positioning & Differentiation AMEERUL HASAN | CHAPTER NUMBER 05

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Transcript of Pillars of Marketing chapter 05

Page 1: Pillars of Marketing chapter 05

Pillars of Marketing : Market segmentation, Target marketing Positioning & Differentiation

AMEERUL HASAN | CHAPTER NUMBER 05

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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?

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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).

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Levels and Patterns ofMarket Segmentation

Levels of Market Segmentation

Mass marketing

Micromarketing

Segment marketing Market segment

Sector

Flexible market offering

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Niche Marketing

Local Marketing

Individual Customer Marketing

1. Mass-customization

2. Choiceboard

3. Customerization

Segments

Individuals

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Patterns for Market Segmentation Preference segments

Homogeneous preferences

Diffused preferences

Clustered preferences

1. Natural market segments

2. Concentrated marketing

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Market Segmentation Procedure Needs-based market segmentation approach

Market partitioning

1. Brand-dominant hierarchy

2. Nation-dominant hierarchy

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Gogrej Ezee

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Himalaya

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ICICI BANK

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Saugata Gupta, CEO (Marico -Consumer Products),

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POSITIONING

It is the act of designing the company offering and image to occupy a distinctive place in the mind of target market

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STP

All marketing strategies is built on STP- Sgmentation ,Targeting ,Positioning

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Microsoft

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Delivered hot and fresh in less than 30 Minutes or free

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Targeting

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Intel

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Health Care – Positioning

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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

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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

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PODs

Apple (design) Nike ( performance )

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POPs

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Repositioning

MOOV

Repositioned the brand from joint pain reliving balm to BACKACHE SPECIALIST ……that address to housewife

PARAS PAHARMACEUTICAL

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Establishing Category Membership

Straddle Positioning Category membership Announcing category benefits

Comparing to exemplars

Relying on Product descriptor

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Establishing Category Membership

Raymond lakme

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BMW Amazon.com

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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

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Personnel DifferentiationsChannel Differentiations-Direct to Home

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Image Differentiation

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Personnnel Differentiation

Jet Air India KingFisher

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Product Life Cycle -Marketing Strategy

1. Intoduction

2. Growth

3. Maturity

4. Decline

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Intoduction Stage Pioneer Advantage

Coca -Cola Fair & Handsome

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Wikipedia

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Long Range Product Market Expansion Strategy

Marketing Strategies: Introduction Stage

The Pioneer Advantage

Inventor

Product pioneer

Market Pioneer

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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

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Product ModificationQuality Improvement Feature ImprovementStyle Improvement

Bajaj Scooter Bajaj Avenger Pulsar

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Parle G Parle Products

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Market Program Modification

Price

Distribustion

Advertising

Sales Promotions

Personal Selling

Services

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Marketing Strategies Decline Stage

Identify Weak product

Lower Exit Barriers

Industry Relative attractiveness and Company competitive strength

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Force India

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CCD Barista