Target Marketing for International Markets
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Target Marketing for International Markets
- 1. target markets for International Marketing presented by Lindsey Fair
- 2. how does “everyone” (MASS) become a smaller piece of the pie ?
- 5. disaggregating … then segment
- 6. Target Market Segment: BEHAVIOUR
- 7. Target Market Segment: URGENCY
- 8. Target Market Segment: GEOGRAPHIC
- 9. 1. Homogeneous (similar) 2. Heterogeneous (different) 3. Substantial 4. Operational why?
- 10. what are the characteristics of a 24 yr old female?
Editor's Notes
- Have everyone take a cup and paper clips
- Tie back to pen game Tell the grass cutting story
- all used for cleaning, but each is likely to appeal to a different market segment with different needs.
- Work in groups and disaggregate a bike tries to narrow down the marketing focus to product-market areas where the firm is more likely to have a competitive advantage step involves “brainstorming” about very different solutions to various generic needs and selecting some broad areasÑbroad product-marketsÑwhere the firm has some resources and experience. One submarket might focus on people who want basic transportation, another on people who want exercise, and so on.
- Behavioral needs, attitudes and how present and potential goods and services fit into customers’ consumption patterns. Affects Product (features, packaging, product line assortment, branding) and Promotion (what potential customers need and want to know about the firm’s offering, and what appeals should be used). Needs Benefits sought Thoughts Rate of use Purchase relationship Brand familiarity Kind of shopping Type of problem-solving Information required PRISZM handout
- Urgency to get need satisfied and desire and willingness to seek information, compare, and shop. Affects Place (how directly products are distributed from producer to customer, how extensively they are made available, and the level of service needed) and Price (how much potential customers are willing to pay).
- Geographic location and other demographic characteristics of potential customers. Affects size of Target Markets (economic potential), Place (where products should be made available), and Promotion (where and to whom to target advertising and personal selling).
- Sticky notes in groups come up to board
- Youtube video What’s the difference? Why? – segmentation, values, expectations and behaviours – who does the shopping