0
MG 220 Marketing Management
BBA 09 – Sec C
Fall 2010
Muhammad Talha Salam, Asst. Professor
talha.salam@nu.edu.pk
Access it...
Access it online: www.slideshare.net/talhasalam
Market Targeting
• Marketers job is to identify segments and select which ...
Access it online: www.slideshare.net/talhasalam
Market Targeting
Effective Segmentation Criteria
• Market segments must ra...
Access it online: www.slideshare.net/talhasalam
Market Targeting
Evaluating and Selecting the Market Segments
• Evaluation...
Access it online: www.slideshare.net/talhasalam
Market Targeting
Evaluating and Selecting the Market Segments
• Selecting ...
Access it online: www.slideshare.net/talhasalam
Market Targeting
Evaluating and Selecting the Market Segments
1. Single-se...
Access it online: www.slideshare.net/talhasalam
Market Targeting
Evaluating and Selecting the Market Segments
2. Selective...
Access it online: www.slideshare.net/talhasalam
Market Targeting
Evaluating and Selecting the Market Segments
3. Product S...
Access it online: www.slideshare.net/talhasalam
Market Targeting
Evaluating and Selecting the Market Segments
4. Market Sp...
Access it online: www.slideshare.net/talhasalam
Market Targeting
Evaluating and Selecting the Market Segments
5. Full Mark...
Access it online: www.slideshare.net/talhasalam
Market Targeting
Evaluating and Selecting the Market Segments
Managing Mul...
Access it online: www.slideshare.net/talhasalam
Market Targeting
Additional Considerations
Segment-by-Segment invasion pla...
Access it online: www.slideshare.net/talhasalam
Market Targeting
Additional Considerations
Updating Segmentation schemes
•...
MG 220 Marketing Management
BBA 09 – Sec C
Fall 2010
Muhammad Talha Salam, Asst. Professor
talha.salam@nu.edu.pk
Access it...
Access it online: www.slideshare.net/talhasalam
Part 4: Building Strong Brands
Chap 9: Creating Brand Equity
What is Brand...
Access it online: www.slideshare.net/talhasalam
Discussion on Term Project
Two Projects 10%
Individual Project 3%
Project ...
MG 220 Marketing Management
BBA 09 – Sec C
Fall 2010
Muhammad Talha Salam, Asst. Professor
talha.salam@nu.edu.pk
Access it...
Upcoming SlideShare
Loading in...5
×

Session 13 MG 220 BBA - 29 Sep 10

338

Published on

Session 13
MG 220 Marketing Management
BBA Section C

Published in: Business
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total Views
338
On Slideshare
0
From Embeds
0
Number of Embeds
0
Actions
Shares
0
Downloads
34
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

Transcript of "Session 13 MG 220 BBA - 29 Sep 10"

  1. 1. MG 220 Marketing Management BBA 09 – Sec C Fall 2010 Muhammad Talha Salam, Asst. Professor talha.salam@nu.edu.pk Access it online: www.slideshare.net/talhasalam Part 3: Connecting with Customers > Market Targeting Part 4: Building Strong Brands > Overall review of Part 4 > Discussion on Term Project Class Presentation | Session 13 | 29 Sep 2010
  2. 2. Access it online: www.slideshare.net/talhasalam Market Targeting • Marketers job is to identify segments and select which ones to target • Segments are identified => Now selecting which ones to target • More and more refinement helps identify smaller, more focused segments and Better target them MG 220 Marketing Management 2
  3. 3. Access it online: www.slideshare.net/talhasalam Market Targeting Effective Segmentation Criteria • Market segments must rate favorably on following criteria: – Measurable • Size, purchasing power, characteristics can be measured easily • It should not be vague – Substantial • Large & profitable enough to serve • Worth going after with a tailored marketing program/effort – Accessible • Can be effectively reached and served – Differentiable • Conceptually distinguishable • Respond differently to different marketing-mix elements – Actionable • Effective programs can be formulated for that particular segment MG 220 Marketing Management 3
  4. 4. Access it online: www.slideshare.net/talhasalam Market Targeting Evaluating and Selecting the Market Segments • Evaluation process – Based on five criteria (mentioned previously) – Vis-à-vis two factors: • Segment’s overall attractiveness • Company’s objectives and resources – A company must evaluate segments carefully by answering all criteria clearly and ensuring that it is favorable MG 220 Marketing Management 4
  5. 5. Access it online: www.slideshare.net/talhasalam Market Targeting Evaluating and Selecting the Market Segments • Selecting Market Segments – Selection is done based on evaluation of market segments – Five different patterns are used: 1. Single-segment concentration 2. Selective Specialization 3. Product Specialization 4. Market Specialization 5. Full Market coverage (illustrations ahead are in a grid pattern showing M-Market vs. P-Product) MG 220 Marketing Management 5
  6. 6. Access it online: www.slideshare.net/talhasalam Market Targeting Evaluating and Selecting the Market Segments 1. Single-segment concentration – Pick only one segment – Focus on it and achieve leadership and thus – Have high returns of investment Downside: – Too much dependency implies increased risk Generally: – Companies tend to operate in more than one segment – Helps diversify and absorb costs in a better way – Concept of Supersegments: Segments sharing exploitable similarities: Companies try to operate in supersegments too MG 220 Marketing Management 6
  7. 7. Access it online: www.slideshare.net/talhasalam Market Targeting Evaluating and Selecting the Market Segments 2. Selective Specialization – Pick different segments having no synergy – Each is objectively attractive and appropriate – Different approaches can be: • Different products in different markets (as in fig.) • Different segments (totally isolated from each other) picked for one product MG 220 Marketing Management 7
  8. 8. Access it online: www.slideshare.net/talhasalam Market Targeting Evaluating and Selecting the Market Segments 3. Product Specialization – Focus on one product – Offered across all markets (segments) – Too much focus on product alone – What if product is replaced by a better product or technology? – Example: Kodak’s camera films MG 220 Marketing Management 8
  9. 9. Access it online: www.slideshare.net/talhasalam Market Targeting Evaluating and Selecting the Market Segments 4. Market Specialization – Focus on one market – Focus is on serving as many needs of that market – Again, too much dependency on one area – What if this market is not able to grow? – Example: Institutes too much focused on accounting market (CA, ACCA, CAT etc.) Had to diversify into finance programs (CFA, CISA) MG 220 Marketing Management 9
  10. 10. Access it online: www.slideshare.net/talhasalam Market Targeting Evaluating and Selecting the Market Segments 5. Full Market Coverage – Serve all customer segments for all their needs – Very hard to do. Generally large firms can do it only • E.g. Microsoft (software market) – Two broad strategies/approaches: • Undifferentiated Marketing: Firm ignores segment differences and offers one product to all Coke’s 300 ml bottle example applies here • Differentiated Marketing: Different products for different segments – still covering all segments Microsoft targeting different segments in software market differently MG 220 Marketing Management 10
  11. 11. Access it online: www.slideshare.net/talhasalam Market Targeting Evaluating and Selecting the Market Segments Managing Multiple Segments • Using segment managers • Each is responsible for growth and profitability of own segments Differentiated Marketing Costs • In differentiated marketing (targeting different segments with different products), higher sales are possible than undifferentiated marketing but costs are also increased. – Product modification costs – Manufacturing costs – Administrative costs – Inventory costs – Promotion costs • Marketers need to understand the trade-off and be cautious of segmentation (particularly over-segmentation) MG 220 Marketing Management 11
  12. 12. Access it online: www.slideshare.net/talhasalam Market Targeting Additional Considerations Segment-by-Segment invasion plans • Recommended: enter one segment at a time • Add more with time • Segment-by-segment invasion plans should be kept as confidential as possible • Companies at times fail to develop these plans • How to enter blocked markets: Concept of megamarketing MG 220 Marketing Management 12
  13. 13. Access it online: www.slideshare.net/talhasalam Market Targeting Additional Considerations Updating Segmentation schemes • Market segmentation analysis should be done periodically because business environment change • How consumer attributes change and understanding of it helps update market segmentation Ethical choice of market targets • Ensuring that marketing efforts are not exploiting vulnerable groups in society • OR promoting harmful products MG 220 Marketing Management 13
  14. 14. MG 220 Marketing Management BBA 09 – Sec C Fall 2010 Muhammad Talha Salam, Asst. Professor talha.salam@nu.edu.pk Access it online: www.slideshare.net/talhasalam Part 4: Building Strong Brands > Overall review: Part 4 Class Presentation | Session 13 | 29 Sep 2010
  15. 15. Access it online: www.slideshare.net/talhasalam Part 4: Building Strong Brands Chap 9: Creating Brand Equity What is Brand Equity? Building Brand Equity Measuring Brand Equity Managing Brand Equity Devising a Branding Strategy Chap 10: Crafting the Brand Positioning Developing and Creating a Positioning Strategy Differentiation Strategies Product Life-cycle marketing strategies Market Evolution Chap 11: Dealing with Competition Competitive forces Identifying Competitors Analyzing Competitors Competitive Strategies for Market Leaders Other Competitive Strategies Balancing Customer and Competitor Orientations MG 220 Marketing Management 15
  16. 16. Access it online: www.slideshare.net/talhasalam Discussion on Term Project Two Projects 10% Individual Project 3% Project Report Individual Presentation (5 mins.) 2-weeks beginning Oct 5, 2010 1 x deliverable | 1 x presentation Team Project 7% Teams of 4 individuals each Project Report Team Presentation 4-weeks project beginning Oct 19,2010 3 x deliverables | 1 x presentation MG 220 Marketing Management 16
  17. 17. MG 220 Marketing Management BBA 09 – Sec C Fall 2010 Muhammad Talha Salam, Asst. Professor talha.salam@nu.edu.pk Access it online: www.slideshare.net/talhasalam Part 4: Building Strong Brands > What is Brand Equity? > Building Brand Equity > Measuring Brand Equity > Managing Brand Equity > Discussion on Mid-Term I Class Presentation | Session 14 | 5 Oct 2010
  1. A particular slide catching your eye?

    Clipping is a handy way to collect important slides you want to go back to later.

×