2535121 Branding Segmentation Tool

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2535121 Branding Segmentation Tool

  1. 1. Branding Process Segmentation Process Marketing Planning Tools
  2. 2. Branding Process What questions do I need to answer and what do I need to do? Where does this fit within the plan? What graphs or tables could help? STEP 1 Understanding Current Customer Perceptions STEP 2 Identify the customer value that will cause them to prescribe our brand STEP 4 STEP 3 Is there a gap between how customers perceive our brand and the values they seek STEP 5 Design each element of marketing mix to support strategy and positioning STEP 6 Implement the marketing mix Define current customer beliefs: Why do they prescribe a particular brand (ours vs. competitors)? What values do they assign to each brand? If there is a perception gap: If so develop optimal strategies and positioning to close this gap? What are the possible customer reactions to this positioning? What is the brand essence? What are the key messages and images we need to communicate? For each of the actions understand the expected benefit and how it can be measured Define the on-going brand support. Optimize the communication roll-out How can I track and measure brand equity? Situation Analysis (Section 3.3) Objectives and Strategies (Section 5.4 ) Action Plans (Section 6) Performance Management (Section 9) Perceptual mapping methodology and Figure 5.4 (b) Customer perceptions Table 3.3(a) Communications Strategy and Actions Plan Table 6.4 The top ten priority actions Table 6.8 Performance Review Table 9.1(b) STEP 7 Measuring & tracking results Defining our brand to match customer value drivers What are our customers perception of our brand? Where do we want our brand perception to be? What are their value drivers? What are their implicit needs that they are not able to describe very well?
  3. 3. Customer Segmentation Process STEP 1 Define the full potential of the market STEP 2 Assess the value of each customer STEP 4 Assess which group of customers to target based on potential size, potential revenue (Annual Time Value) and share of voice STEP 3 Stratify or group customers based on their potential mix of usage STEP 5 Assess per group of customers the unique attitude or behavioral variables of customers STEP 6 Create segments of customers with the same needs values and wants <ul><li>Assess the relative importance of each customer in terms of either the number of customers or usage </li></ul><ul><li>through sales rep visits / Market Data </li></ul><ul><li>What is the market we serve & who are all the customers who may benefit from our product? </li></ul><ul><li>Are we missing any </li></ul><ul><li>customers (I.e. those traditionally served by our competitors)? </li></ul><ul><li>From where are the new customers coming? (I.e. what is the referral pattern / who refers? Based on what? </li></ul><ul><li>Identify in each stratus the new Annual Time Value of the customer </li></ul><ul><li>Which competitors are targeting these same customers? </li></ul><ul><li>Define the characteristics of each segment (e.g. average size/potential, key </li></ul><ul><li>purchasing factors, ways </li></ul><ul><li>to influence decision making) </li></ul><ul><li>what is the size of each segment? </li></ul><ul><li>Is it homogenous? </li></ul><ul><li>How do salespeople interact with customers in the market and what are the key market drivers? </li></ul><ul><li>Ego driven, $ driven, convenience driven, service driven, scientific driven, etc... </li></ul><ul><li>Select the segmentation which most effectively groups customers with the same needs Your segmentation should offer each : </li></ul><ul><li>Measurability - the size & purchasing power of the segments must be measurable </li></ul><ul><li>Accessibility - it must be possible to reach & serve the segment </li></ul><ul><li>Substantiality - the segments must be large & profitable </li></ul>What questions do I need to answer and what do I need to do? How many customers are there in the defined market (validate source)
  4. 4. Customer Segmentation Process What questions do I need to answer and what do I need to do? STEP 11 Develop for each customer in targeted segments a plan with an objective , tactics and action plans. <ul><li>Consider supporting evidence for your segmentation </li></ul><ul><li>Does the market really work the way you have segmented? </li></ul><ul><li>Are the most successful competitors taking a different segmentation approach? </li></ul><ul><li>What market data do you need to confirm current segmentation? </li></ul>STEP 7 Validate the selected segmentation approach STEP 8 Target the most attractive segments based on potential size and potential revenue STEP 9 Which product / brand is being used by each customer in target segments (validate sources) STEP 10 Decide on product positioning for each of the targeted segments <ul><li>How easy will it be to convert customer in each segment segment to our products? </li></ul><ul><li>How responsive is the segment to marketing actions? </li></ul><ul><li>What would be the cost of serving the segment? </li></ul><ul><li>How are the competitors targeting these customers? </li></ul><ul><li>Evaluate attractiveness of each segment </li></ul><ul><li> C heck whether needs are being addressed </li></ul><ul><li>How to overcome the hurdles for using our products ? </li></ul><ul><li>Assess cost for each action plan and decide whether it is feasible, to target the segment </li></ul><ul><li>Review regularly whether the needs and wants are satisfied profitably </li></ul><ul><li>Review regularly the size of the segments, the needs and wants of each customer. </li></ul>

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