Customer-Driven Marketing Strategy

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Concepts of market segmentation, targeting, differentiation, positioning are reviewed, based on a text by Armstrong and Kotler. This presentation will help you understand how to develop marketing strategies that are effective in identifying and winning customers.

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Customer-Driven Marketing Strategy

  1. 1. Adapted from Ch. 3 of Marketing, Armstrong and Kotler, 10th ed., 2011, Prentice Hall. ISBN: 978-0-13-610220-5. Customer-Driven Marketing Strategy Graham Garner • Wartburg College • Principles of Marketing, BA 353 • Fall 2013
  2. 2. WHAT’S THE DIFFERENCE BETWEEN THESE TWO? SHOTGUN VERSUS RIFLE
  3. 3. MARKET SEGMENTATION TARGETING DIFFERENTIATION POSITIONING CUSTOMER-DRIVEN MARKETING STRATEGIES THE FOUR MAJOR STEPS TO DESIGNING THEM
  4. 4. SELECTING CUSTOMERS TO SERVE THROUGH SEGMENTATION AND TARGETING
  5. 5. MARKET SEGMENTATION ALLOWS YOU TO REACH MARKETS MORE EFFICIENTLY AND EFFECTIVELY
  6. 6. GEOGRAPHIC DEMOGRAPHIC PSYCHOGRAPHIC BEHAVIORAL MAJOR SEGMENTATION VARIABLES FOR CONSUMER MARKETS
  7. 7. Measurable Size, purchasing power and profiles can be measured
  8. 8. Accessible Market can be reached and served
  9. 9. Substantial Large or profitable enough
  10. 10. Differentiable Conceptually distinguishable and respond differently
  11. 11. Actionable Able to take action tailored to the market segment
  12. 12. TARGETING INVOLVES CHOOSING HOW MANY AND WHICH MARKET SEGMENTS TO FOCUS ON
  13. 13. U N D I F F E R E N T I AT E D MASS D I F F E R E N T I AT E D SEGMENTED C O N C E N T R AT E D NICHE MICROMARKETING LOCAL OR INDIVIDUAL MARKET TARGETING STRATEGIES FROM BROAD TO NARROW
  14. 14. How can targeted marketing be used irresponsibly?
  15. 15. DECIDING ON A VALUE PROPOSITION THROUGH DIFFERENTIATION AND POSITIONING
  16. 16. DIFFERENTIATION ALLOWS AN ORGANIZATION TO PRESENT ITS OFFERING AS SUPERIOR IN VALUE
  17. 17. PROFITABLE DISTINCTIVE SUPERIOR COMMUNICABLE PREEMPTIVE AFFORDABLE DIFFERENCES TO PROMOTE HOW MANY DIFFERENCES SHOULD AN ORGANIZATION PROMOTE TO GAIN ADVANTAGE?
  18. 18. POSITIONING IS THE WAY CONSUMERS DEFINE A PRODUCT OR SERVICE IN RELATION TO COMPETITION
  19. 19. POSITIONING MAP SHOWS CONSUMER PERCEPTION OF A BRAND IN RELATION TO OTHERS
  20. 20. Develop a positioning map with 10 brands: •Cars •Shoes •Clothing stores •Cell phones •Restaurant franchises

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