Bmgt 205 chapter_9

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Bmgt 205 chapter_9

  1. 1. BMGT 205: Principles of Marketing Segmentation, Targeting, and Positioning
  2. 2. Review Segment Examples and Discuss
  3. 3. Learning Objectives
  4. 4. Segmentation, Targeting, 
 Positioning Process Step 1 ••Strategy or Objectives Segmentation Step 2 ••Segmentation Methods Step 3 ••Evaluate Segment Attractiveness Targeting Step 4 ••Select Target Market Step 5 ••Identify and Develop Positioning Strategy Positioning
  5. 5. Step 1: Establish Overall 
 Strategy or Objectives SWOT Analysis Derived from mission and current state http://youtu.be/YDCY56azew8
  6. 6. Step 2: Segmentation Methods
  7. 7. CHECK YOURSELF 1. What are the various segmentation methods?
  8. 8. Step 3: Evaluate Segment Attractiveness SEGMENT ATTRACTIVENESS Substantial Reachable Responsive Profitable Identifiable
  9. 9. Identifiable • Who is in their market? • Are the segments unique? • Does each segment require a unique marketing mix?
  10. 10. Substantial • Too small and it is insignificant • Too big and it might need it’s own store
  11. 11. Reachable Know the product exists Understand what it can do Recognize how to buy
  12. 12. Responsive Customers must: React positively to firm’s offering Move toward the firms products/ services Accept the firm’s value proposition
  13. 13. Profitable
  14. 14. Step 4: Selecting a Target Market Target Segment
  15. 15. Segmentation Strategy Targeting Strategies Differentiated Concentrated Micromarketing
 or
 one-to-one Undifferentiated or
 mass marketing
  16. 16. Step 5: Develop Positioning Strategy Positioning Methods • Value • Salient Attributes • Symbol • Competition
  17. 17. Positioning Steps 1. Determine consumers’ perceptions and evaluations in relation to competitors’. 2. Identify the market’s ideal points and size. 3. Identify competitors’ positions. 4. Determine consumer preferences. 5. Select the position. 6. Monitor the positioning strategy.
  18. 18. Positioning Maps Example
  19. 19. CHECK YOURSELF 1. What is a perceptual map? 2. Identify the six positioning steps.
  20. 20. Key Terms • Benefit segmentation groups consumers on the basis of the benefits they derive from products or services. • Demographic segmentation groups consumers according to easily measured, objective characteristics such as age, gender, income, and education. • Geodemographic segmentation uses a combination of geographic, demographic, and lifestyle characteristics to classify consumers. • Geographic segmentation organizes customers into groups on the basis of where they live.
  21. 21. Key Terms • Behavioral segmentation divides customers into groups based on how they use the product or service. • Psychographic segmentation, or psychographics, allows people to describe themselves using characteristics that help them choose how they occupy their time (behavior) and what underlying psychological reasons determine these choices. • The Value and Lifestyle Survey (VALS) is a psychographic tool that classifies consumers into eight categories based on their answers to a questionnaire.

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