Crafting the Brand Positioning
Developing & Establishing a Brand Positioning
Points-of-difference
Points-of-parity
Brand Mantras
Communicating Category Membership
Consumer Desirability Criteria for PODs
Deliverability Criteria for PODs
Differentiation Strategies
Positioning and Branding a Small Business
Crafting the Brand Positioning
Developing & Establishing a Brand Positioning
Points-of-difference
Points-of-parity
Brand Mantras
Communicating Category Membership
Consumer Desirability Criteria for PODs
Deliverability Criteria for PODs
Differentiation Strategies
Positioning and Branding a Small Business
Analyzing Business Markets
What is Organizational Buying?
Top Business Marketing Challenges
Characteristics of Business Markets
Buying Situation
Participants in Business Buying ProcessThe Buying Center
Supplier SearchForms of Electronic Marketplaces
Methods for Researching Customer Value
Establishing Corporate Trust and Credibility
Factors Affecting Buyer-Supplier Relationships
What is Opportunism?
Product, Services, and Brands - Building Customer Value - MarketingFaHaD .H. NooR
What Is a Product?
Product and Services Decisions
Branding Strategy: Building Strong Brands
Services Marketing
A Product is anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a need or want
Experiences represent what buying the product or service will do for the customer
Identifying Market Segments and Targets
Effective Targeting Requires
Four levels of Micromarketing
What is a Market Segment?
Flexible Marketing Offerings
Preference Segments
Segmenting Consumer Markets
Behavioral Segmentation
The Brand Funnel Illustrates Variations in the Buyer-Readiness Stage
Loyalty Status
Segmenting for Business Markets
Steps in Segmentation Process
Effective Segmentation Criteria
Analyzing Business Markets
What is Organizational Buying?
Top Business Marketing Challenges
Characteristics of Business Markets
Buying Situation
Participants in Business Buying ProcessThe Buying Center
Supplier SearchForms of Electronic Marketplaces
Methods for Researching Customer Value
Establishing Corporate Trust and Credibility
Factors Affecting Buyer-Supplier Relationships
What is Opportunism?
Product, Services, and Brands - Building Customer Value - MarketingFaHaD .H. NooR
What Is a Product?
Product and Services Decisions
Branding Strategy: Building Strong Brands
Services Marketing
A Product is anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a need or want
Experiences represent what buying the product or service will do for the customer
Identifying Market Segments and Targets
Effective Targeting Requires
Four levels of Micromarketing
What is a Market Segment?
Flexible Marketing Offerings
Preference Segments
Segmenting Consumer Markets
Behavioral Segmentation
The Brand Funnel Illustrates Variations in the Buyer-Readiness Stage
Loyalty Status
Segmenting for Business Markets
Steps in Segmentation Process
Effective Segmentation Criteria
1. A Informative Slides On HERB + DRUG Interaction VANDANA JANGHEL Assistant Professor (M. Pharma, Pharmacognosy) (Siddhi Vinayaka Institute of Technology & Sciences, Bilaspur, C.G.) What comes from Nature + What we change in nature + What we don’t want
2. 1. What are Herb-drug interactions? 2. How herbs interact with other co administered drug ? 3. Whether they are diagnoised? 4. Are they neglected? 5. Any reports available ? 6. What is the significance of the study ? 7. Need for the study We will discuss on following points HERB + DRUG Interaction
3. Herb drugs + Allopathic drug = Some Reactions HERB + DRUG Interaction 1. When herbal medicinal products and western drugs administered together may interact each other in body leading to kinetic and dynamic alterations. 2. Herbs are often administered in combination with therapeutic drugs, raising the potential of herb-drug interactions. 3. Herbs or Herbal drugs often taken with the Allopathic drugs with belief that it will have some Beneficial effect. 4. Most of the herbal drugs are taken because of- Availability, Economic consideration and its safety
4. PharmacodynamicPharmacokinetics Herb may causes Additive Synergistic Antagonistic Unidentified Response activity in relation to conventional drug Change the Absorption Distribution Metabolism Protein binding Excretion of the drug thus changing blood level of drug HERB + DRUG Interaction
5. Diagnosis Evidence of Interaction Preclinical Trials Clinical Trials Case studies from pharmacovigilance 1 2 3
6. 1. Drug interaction is the 4th to 6th cause of death in the world. 2. About 70-80 herbs may increase the risk of bleeding. 3. Aristolochic acid from Kidamari (Aristolochia Bracteolata) is toxic. 4. Ephedra (Somlata) caused more than 54 deaths and 1600 cases of adverse reaction. Facts about Herbal Drug Interactions
7. 1. Clinician lack of adequate knowledge about Drug-herb Interaction 2. No quality control and assurance for the purity and safety. 3. No advance research in this field. 4. Blind believe or over believe in Ayurverdic medicine 5. Avoidance of patient history about drug sensitivity 6. Adulteration in herbal drug Reason for Herb-Drug Interaction Less Knowledge No Quality Control No Documentation Mythological Believe Herbal-Drug Interaction
8. PHARMACOKINETIC INTERACTION Parameter Increases Decreases Absorption Ginger Fibers Green tea Mucilage containing herb Black pepper Mucilage containing herb Metabolism Guggul Grape juice Elimination Laxative (Aloe) Liquorices Diuretics herbs
9. ALOE VERA Interferes with drug absorption through Laxative action (Aloe latex) Decrease transit time Decrease Intestinal Fluids GINGKO BILOBA Decrease effectiveness of Alprazolam by decreasing its absorption. Ginkgo decreases absorption of Alprazolam rather than inducing hepatic metabolism of alprazolam. GINGER Enhance the absorption of sulfaguanidine and decreases blood sugar PHARMACOKINETIC INTERACTION Herbal drugs which shows Interaction related to Absorption
1
Kseniya Leshchenko: Shared development support service model as the way to ma...Lviv Startup Club
Kseniya Leshchenko: Shared development support service model as the way to make small projects with small budgets profitable for the company (UA)
Kyiv PMDay 2024 Summer
Website – www.pmday.org
Youtube – https://www.youtube.com/startuplviv
FB – https://www.facebook.com/pmdayconference
VAT Registration Outlined In UAE: Benefits and Requirementsuae taxgpt
Vat Registration is a legal obligation for businesses meeting the threshold requirement, helping companies avoid fines and ramifications. Contact now!
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Improving profitability for small businessBen Wann
In this comprehensive presentation, we will explore strategies and practical tips for enhancing profitability in small businesses. Tailored to meet the unique challenges faced by small enterprises, this session covers various aspects that directly impact the bottom line. Attendees will learn how to optimize operational efficiency, manage expenses, and increase revenue through innovative marketing and customer engagement techniques.
RMD24 | Debunking the non-endemic revenue myth Marvin Vacquier Droop | First ...BBPMedia1
Marvin neemt je in deze presentatie mee in de voordelen van non-endemic advertising op retail media netwerken. Hij brengt ook de uitdagingen in beeld die de markt op dit moment heeft op het gebied van retail media voor niet-leveranciers.
Retail media wordt gezien als het nieuwe advertising-medium en ook mediabureaus richten massaal retail media-afdelingen op. Merken die niet in de betreffende winkel liggen staan ook nog niet in de rij om op de retail media netwerken te adverteren. Marvin belicht de uitdagingen die er zijn om echt aansluiting te vinden op die markt van non-endemic advertising.
What are the main advantages of using HR recruiter services.pdfHumanResourceDimensi1
HR recruiter services offer top talents to companies according to their specific needs. They handle all recruitment tasks from job posting to onboarding and help companies concentrate on their business growth. With their expertise and years of experience, they streamline the hiring process and save time and resources for the company.
Cracking the Workplace Discipline Code Main.pptxWorkforce Group
Cultivating and maintaining discipline within teams is a critical differentiator for successful organisations.
Forward-thinking leaders and business managers understand the impact that discipline has on organisational success. A disciplined workforce operates with clarity, focus, and a shared understanding of expectations, ultimately driving better results, optimising productivity, and facilitating seamless collaboration.
Although discipline is not a one-size-fits-all approach, it can help create a work environment that encourages personal growth and accountability rather than solely relying on punitive measures.
In this deck, you will learn the significance of workplace discipline for organisational success. You’ll also learn
• Four (4) workplace discipline methods you should consider
• The best and most practical approach to implementing workplace discipline.
• Three (3) key tips to maintain a disciplined workplace.
"𝑩𝑬𝑮𝑼𝑵 𝑾𝑰𝑻𝑯 𝑻𝑱 𝑰𝑺 𝑯𝑨𝑳𝑭 𝑫𝑶𝑵𝑬"
𝐓𝐉 𝐂𝐨𝐦𝐬 (𝐓𝐉 𝐂𝐨𝐦𝐦𝐮𝐧𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬) is a professional event agency that includes experts in the event-organizing market in Vietnam, Korea, and ASEAN countries. We provide unlimited types of events from Music concerts, Fan meetings, and Culture festivals to Corporate events, Internal company events, Golf tournaments, MICE events, and Exhibitions.
𝐓𝐉 𝐂𝐨𝐦𝐬 provides unlimited package services including such as Event organizing, Event planning, Event production, Manpower, PR marketing, Design 2D/3D, VIP protocols, Interpreter agency, etc.
Sports events - Golf competitions/billiards competitions/company sports events: dynamic and challenging
⭐ 𝐅𝐞𝐚𝐭𝐮𝐫𝐞𝐝 𝐩𝐫𝐨𝐣𝐞𝐜𝐭𝐬:
➢ 2024 BAEKHYUN [Lonsdaleite] IN HO CHI MINH
➢ SUPER JUNIOR-L.S.S. THE SHOW : Th3ee Guys in HO CHI MINH
➢FreenBecky 1st Fan Meeting in Vietnam
➢CHILDREN ART EXHIBITION 2024: BEYOND BARRIERS
➢ WOW K-Music Festival 2023
➢ Winner [CROSS] Tour in HCM
➢ Super Show 9 in HCM with Super Junior
➢ HCMC - Gyeongsangbuk-do Culture and Tourism Festival
➢ Korean Vietnam Partnership - Fair with LG
➢ Korean President visits Samsung Electronics R&D Center
➢ Vietnam Food Expo with Lotte Wellfood
"𝐄𝐯𝐞𝐫𝐲 𝐞𝐯𝐞𝐧𝐭 𝐢𝐬 𝐚 𝐬𝐭𝐨𝐫𝐲, 𝐚 𝐬𝐩𝐞𝐜𝐢𝐚𝐥 𝐣𝐨𝐮𝐫𝐧𝐞𝐲. 𝐖𝐞 𝐚𝐥𝐰𝐚𝐲𝐬 𝐛𝐞𝐥𝐢𝐞𝐯𝐞 𝐭𝐡𝐚𝐭 𝐬𝐡𝐨𝐫𝐭𝐥𝐲 𝐲𝐨𝐮 𝐰𝐢𝐥𝐥 𝐛𝐞 𝐚 𝐩𝐚𝐫𝐭 𝐨𝐟 𝐨𝐮𝐫 𝐬𝐭𝐨𝐫𝐢𝐞𝐬."
Putting the SPARK into Virtual Training.pptxCynthia Clay
This 60-minute webinar, sponsored by Adobe, was delivered for the Training Mag Network. It explored the five elements of SPARK: Storytelling, Purpose, Action, Relationships, and Kudos. Knowing how to tell a well-structured story is key to building long-term memory. Stating a clear purpose that doesn't take away from the discovery learning process is critical. Ensuring that people move from theory to practical application is imperative. Creating strong social learning is the key to commitment and engagement. Validating and affirming participants' comments is the way to create a positive learning environment.
Enterprise Excellence is Inclusive Excellence.pdfKaiNexus
Enterprise excellence and inclusive excellence are closely linked, and real-world challenges have shown that both are essential to the success of any organization. To achieve enterprise excellence, organizations must focus on improving their operations and processes while creating an inclusive environment that engages everyone. In this interactive session, the facilitator will highlight commonly established business practices and how they limit our ability to engage everyone every day. More importantly, though, participants will likely gain increased awareness of what we can do differently to maximize enterprise excellence through deliberate inclusion.
What is Enterprise Excellence?
Enterprise Excellence is a holistic approach that's aimed at achieving world-class performance across all aspects of the organization.
What might I learn?
A way to engage all in creating Inclusive Excellence. Lessons from the US military and their parallels to the story of Harry Potter. How belt systems and CI teams can destroy inclusive practices. How leadership language invites people to the party. There are three things leaders can do to engage everyone every day: maximizing psychological safety to create environments where folks learn, contribute, and challenge the status quo.
Who might benefit? Anyone and everyone leading folks from the shop floor to top floor.
Dr. William Harvey is a seasoned Operations Leader with extensive experience in chemical processing, manufacturing, and operations management. At Michelman, he currently oversees multiple sites, leading teams in strategic planning and coaching/practicing continuous improvement. William is set to start his eighth year of teaching at the University of Cincinnati where he teaches marketing, finance, and management. William holds various certifications in change management, quality, leadership, operational excellence, team building, and DiSC, among others.
Business Valuation Principles for EntrepreneursBen Wann
This insightful presentation is designed to equip entrepreneurs with the essential knowledge and tools needed to accurately value their businesses. Understanding business valuation is crucial for making informed decisions, whether you're seeking investment, planning to sell, or simply want to gauge your company's worth.
2. LO 1 Describe the characteristics of markets and market segments LO 2 Explain the importance of market segmentation LO 3 Discuss criteria for successful market segmentation LO 4 Describe the bases commonly used to segment consumer markets LO 5 Describe the bases for segmenting business markets Learning Outcomes
3. LO 6 List the steps involved in segmenting markets LO 7 Discuss alternative strategies for selecting target markets LO 8 Explain one-to-one marketing LO 9 Explain how and why firms implement positioning strategies and how product differentiation plays a role Learning Outcomes
6. Market Segmentation LO 1 Market Market Segment Market Segmentation People or organizations with needs or wants and the ability and willingness to buy. A subgroup of people or organizations sharing one or more characteristics that cause them to have similar product needs. The process of dividing a market into meaningful, relatively similar, identifiable segments or groups.
8. The Importance of Market Segmentation Explain the importance of market segmentation LO 2
9.
10. Criteria for Successful Segmentation Discuss criteria for successful market segmentation LO 3
11. Criteria for Segmentation LO 3 Substantiality Identifiability and Measurability Accessibility Responsiveness Segment must be large enough to warrant a special marketing mix. Segments must be identifiable and their size measurable. Members of targeted segments must be reachable with marketing mix. Unless segment responds to a marketing mix differently, no separate treatment is needed.
12. Bases for Segmenting Consumer Markets Describe the bases commonly used to segment consumer markets LO 4
13. Bases for Segmentation LO 4 Usage Rate Benefits Sought Psychographics Demographics Geography
20. Psychographic Segmentation Psychographic Segmentation LO 4 Market segmentation on the basis of personality, motives, lifestyles, and geodemographics.
21. Bases for Psychographic Segmentation LO 4 Personality Motives Lifestyles Geodemographics Online http://www.marthastewart.com http://www.goodhousekeeping.com
22.
23. Geodemographic Segmentation Segmenting potential customers into neighborhood lifestyle categories. Combines geographic, demographic, and lifestyle segmentation. Geodemographic Segmentation LO 4
24. Benefit Segmentation LO 4 The process of grouping customers into market segments according to the benefits they seek from the product. Benefit Segmentation
25. Usage-Rate Segmentation LO 4 Usage-Rate Segmentation Dividing a market by the amount of product bought or consumed. 80/20 Principle A principle holding that 20 percent of all customers generate 80 percent of the demand.
26.
27. Economic Crisis and Shifting Targets Beyond the Book In an economy with a depressed housing market and equity losses, many boomers now face an uncertain retirement income and must reprioritize their spending. A recent survey revealed that boomers are likely to cut spending on clothing, personal care, home furnishings, and travel, so companies in those sectors may need to shift their focus to a target demographic segment with better growth prospects. Source: David Court, The Downturn’s new rules for marketers,” mckinseyquarterly.com, December 2008. The high spending rates of the baby boom generation have made them a sought-after and profitable customer segment in the U.S., Japan, and Western Europe. But boomers were often borrowing against the “wealth effect” of real estate appreciation and the equity gains from retirement accounts. LO 4
28. Bases for Segmenting Business Markets Describe the bases for segmenting business markets LO 5
29. Bases for Segmenting Business Markets Company Characteristics Buying Processes LO 5 Producers Resellers Government Institutions
30.
31. Buyer Characteristics LO 5 Satisficers Business customers who place an order with the first familiar supplier to satisfy product and delivery requirements. Optimizers Business customers who consider numerous suppliers, both familiar and unfamiliar, solicit bids, and study all proposals carefully before selecting one.
32. Buyer Characteristics LO 5 Demographic characteristics Decision style Tolerance for risk Confidence level Job responsibilities
33. Steps in Segmenting a Market List the steps involved in segmenting markets LO 6
34. Steps in Segmenting Markets Select a market for study Choose bases for segmen-tation Select descriptors Profile and analyze segments Select target markets Design, implement, maintain marketing mix 1 2 3 4 5 6 Note that steps 5 and 6 are actually marketing activities that follow market segmentation (steps 1 through 4). LO 6
35. Strategies for Selecting Target Markets Discuss alternative strategies for selecting target markets LO 7
36. Strategies for Selecting Target Markets A group of people or organizations for which an organization designs, implements, and maintains a marketing mix intended to meet the needs of that group, resulting in mutually satisfying exchanges. LO 7 Target Market
37. Strategies for Selecting Target Markets LO 7 Concentrated Strategy Undifferentiated Strategy Multisegment Strategy
38. Undifferentiated Targeting Strategy Undifferentiated Targeting Strategy A marketing approach that views the market as one big market with no individual segments and thus requires a single marketing mix. LO 7
39.
40. Concentrated Targeting Strategy A strategy used to select one segment of a market for targeting marketing efforts. Niche One segment of a market. LO 7 Concentrated Targeting Strategy
41.
42. Multisegment Targeting Strategy A strategy that chooses two or more well-defined market segments and develops a distinct marketing mix for each. LO 7 Multisegment Targeting Strategy
47. One-to-One Marketing LO 8 Information-Intensive Long-Term One-to-One Marketing is... Individualized Cost Reduction Has a Goal of… Customer Loyalty Increased Revenue Personalized Customer Retention
48.
49. Positioning Explain how and why firms implement positioning strategies and how product differentiation plays a role LO 9
50. Positioning Developing a specific marketing mix to influence potential customers’ overall perception of a brand, product line, or organization in general. LO 9
51. LO 9 Positioning of Procter & Gamble Detergents Brand Positioning Tide Tough, powerful cleaning Cheer Tough cleaning, color protection Bold Detergent plus fabric softener Gain Sunshine scent and odor-removing formula Era Stan treatment and stain removal Dash Value brand Solo Detergent and fabric softener in liquid form Dreft Outstanding cleaning for baby clothes, safe Ivory Fabric and skin safety on baby clothes Ariel Tough cleaner, aimed at Hispanic market
52.
53. Product Differentiation A positioning strategy that some firms use to distinguish their products from those of competitors. Distinctions can be real or perceived. Eat Fresh! LO 9
54. Perceptual Mapping LO 9 A means of displaying or graphing, in two or more dimensions, the location of products, brands, or groups of products in customers’ minds.
55. Positioning Bases LO 9 Attribute Price and Quality Use or Application Product User Product Class Competitor Emotion
56. Repositioning LO 9 Changing consumers’ perceptions of a brand in relation to competing brands.
Chapter 8 Segmenting and Targeting Markets Marketing cannot be accomplished in isolation. Even though the marketing function resides with marketers, the concept of marketing must permeate the entire organization.
Chapter 8 Segmenting and Targeting Markets
Chapter 8 Segmenting and Targeting Markets
Chapter 8 Segmenting and Targeting Markets
Chapter 8 Segmenting and Targeting Markets Notes: The term market means different things to different people. Consider supermarket, stock market, labor market, fish market, and flea market. All these types of markets share several characteristics. Markets are composed of people or organizations with needs and wants that can be satisfied by particular product categories. They have the ability to buy the products they seek, and are willing to exchange their resources for the desired products.
Chapter 8 Segmenting and Targeting Markets Notes: Within a market, a market segment is a subgroup of people or organizations with one or more common characteristics that cause them to have similar product needs. Market segmentation is the division of a market into meaningful, identifiable segments or groups.
Chapter 8 Segmenting and Targeting Markets Notes: This graphic illustrates the concept of market segmentation, using age and gender as the bases. Discussion/Team Activity: Discuss other ways of segmenting the market in addition to age and gender.
Chapter 8 Segmenting and Targeting Markets
Chapter 8 Segmenting and Targeting Markets Notes: Until the 1960s, market segmentation was not used extensively. Consider Coca-Cola with its one product aimed at the entire soft drink market. Today over a dozen different products are marketed by the company to different market segments. Market segmentation plays a key role in the marketing strategy of organizations, leading to competitive advantage. The benefits are described on this slide. Discussion/Team Activity: Discuss how Coca-Cola’s product lines fit the needs of different market segments. Name different fashion retailers and identify their marketing segmentation strategies.
Chapter 8 Segmenting and Targeting Markets
Chapter 8 Segmenting and Targeting Markets Notes: Markets are segmented for three reasons: Segmentation enables the identification of groups of customers with similar needs, and the analysis of the buying behavior of these groups. Segmentation provides information for the specific matching of the design of marketing mixes with the characteristics of the segment. Segmentation helps marketers satisfy customers wants and needs while meeting the organization’s objectives. A segmentation scheme must produce segments that meet the four basic criteria as defined above.
Chapter 8 Segmenting and Targeting Markets
Chapter 8 Segmenting and Targeting Markets Notes: One or more of the characteristics listed above is used to segment markets and described on subsequent slides.
Chapter 8 Segmenting and Targeting Markets Notes: Geographic segmentation of markets is based on the region, market size, market density (number of people within a unit of land), or climate.
Chapter 8 Segmenting and Targeting Markets Notes: Consumer goods companies use a regional approach to marketing for the reasons shown on this slide. Discussion/Team Activity: Discuss the marketing of regional brands/products in various areas of the country.
Chapter 8 Segmenting and Targeting Markets Notes: Demographic information is widely available and often related to consumer behavior and buying. Some common bases are age, gender, income, ethnic background, and family life cycle. Consider age segmentation… There are about 20 million tweens (ages 9-12) in the U.S. This group spends over $20 billion per year. Retailers such as Limited Too and Abercrombie serve this market. Baby boomers (born between 1946 and 1964) represent more than $2 trillion in spending per year. There is marketing potential for products such as retirement properties, health and wellness products, automobiles with features for them, as well as other goods and services.
Chapter 8 Segmenting and Targeting Markets
Chapter 8 Segmenting and Targeting Markets Notes: Consumption patterns among people of the same age and gender differ because of differences in the family life cycle stage. The FLC is a series of stages determined by a combination of age, marital status, and the presence or absence of children.
Chapter 8 Segmenting and Targeting Markets Notes: Exhibit 7.1 demonstrates both traditional and contemporary FLC patterns and shows how families’ needs, incomes, etc. differ at each stage. Discussion/Team Activity: Find examples of advertisements that target different stages of the family life cycle.
Chapter 8 Segmenting and Targeting Markets
Chapter 8 Segmenting and Targeting Markets Online Martha Stewart Living Good Housekeeping Use psychographic segmentation to classify the kinds of consumers who would be interested in the products offered by Martha Stewart and Good Housekeeping online. Notes: Demographic segmentation provides the “skeleton,” but psychographic segmentation adds “meat to the bones.” Personality reflects a person’s traits, attitudes, and habits. Consider the personality types that describe segmented Porsche buyers. Motives: Carmakers appeal to customers with status-related motives, whereas baby products appeal to emotional motives. Lifestyles and geodemographics are described on subsequent slides.
Chapter 8 Segmenting and Targeting Markets Notes: Lifestyle segmentation divides people into groups according to how time is spent, the importance of things around them, beliefs, and socioeconomic characteristics such as income and education. For example, a recent study of the women’s market divides women into four categories based on lifestyle distinctions: Explorers Achievers Builders Masters
Chapter 8 Segmenting and Targeting Markets
Chapter 8 Segmenting and Targeting Markets Notes: Benefit segmentation is different from other segmentation bases because it groups potential customers on the basis of their needs and wants instead of some other characteristic.
Chapter 8 Segmenting and Targeting Markets Notes: Most segmentation is based on the assumption that the selected variable(s) and customers’ needs are related. On the other hand, benefit segmentation groups potential customers on the basis of their needs or wants only. Segmenting by usage rate enables marketers to focus efforts on heavy users or to develop multiple marketing mixes aimed at different segments. The focus of marketing is often on the heavy-user segment, based on the 80/20 principle. Discussion/Team Activity: What programs do companies use to develop customers into heavy users? The list should include airline frequent flyer programs and in-store coupon dispensing.
Chapter 8 Segmenting and Targeting Markets Slide Animation: Five bases are commonly used for segmenting consumer markets: Geographic segmentation is based on region, size, density, and climate characteristics. Demographic segmentation is based on age, gender, income level, ethnicity, and family life-cycle characteristics. Psychographic segmentation includes personality, motives, and lifestyle characteristics. “ Benefits sought” is a type of segmentation that identifies customers according to the benefits they seek in a product. Finally, usage segmentation divides a market by the amount of product purchased or consumed.
Chapter 8 Segmenting and Targeting Markets Notes: Most segmentation is based on the assumption that the selected variable(s) and customers’ needs are related. On the other hand, benefit segmentation groups potential customers on the basis of their needs or wants only. Segmenting by usage rate enables marketers to focus efforts on heavy users or to develop multiple marketing mixes aimed at different segments. The focus of marketing is often on the heavy-user segment, based on the 80/20 principle. Discussion/Team Activity: What programs do companies use to develop customers into heavy users? The list should include airline frequent flyer programs and in-store coupon dispensing.
Chapter 8 Segmenting and Targeting Markets Notes: The business market consists of four segments: Producers Resellers Institutions Government
Chapter 8 Segmenting and Targeting Markets Notes: Company characteristics include geographic location, type of company, company size, and product use. Marketers may also segment customers on the basis of how they buy. Take, for example, key purchasing criteria, such as price, quality, technical support, and service. Personal characteristics of the buyers influence their buying behavior.
Chapter 8 Segmenting and Targeting Markets
Chapter 8 Segmenting and Targeting Markets Notes: The purchasing strategies of buyers provide useful segments. Two purchasing profiles are satisficers and optimizers. Satisficers contact familiar suppliers and place the order with the first one to satisfy product and delivery requirements. Optimizers consider numerous suppliers, obtain bids, and study all proposals before selecting one.
Chapter 8 Segmenting and Targeting Markets Notes: The personal characteristics of the buyers influence their buying behavior and offer a viable basis for segmenting some business markets.
Chapter 8 Segmenting and Targeting Markets
Chapter 8 Segmenting and Targeting Markets Slide Animation: The purpose of market segment is to identify marketing opportunities. This slide traces the steps in segmenting a market. (1) selecting a market or product category for study; (2) choosing a basis or bases for segmenting the market; (3) selecting segmentation descriptors; (4) profiling and evaluating segments; (5) selecting target markets; and (6) designing, implementing, and maintaining appropriate marketing mixes. Note that steps 5 and 6 occur after the segmentation scheme is developed. Keep in mind that markets are dynamic and must be monitored proactively for changes in age, etc. Even though the segmentation classifications are static, the customers and prospects are changing.
Chapter 8 Segmenting and Targeting Markets
Chapter 8 Segmenting and Targeting Markets Notes: Market segmentation is the first step in determining whom to approach about buying a product. The next task is to choose one or more target markets. A target market is a group of people or organizations for which the organization creates a marketing mix to meet that group’s needs. Because most markets will include customers with different lifestyles, backgrounds, and income levels, it is unlikely that a single marketing mix will attract all segments of the market.
Chapter 8 Segmenting and Targeting Markets Notes: The three general strategies for selecting target markets are illustrated on this slide. A description of each follows.
Chapter 8 Segmenting and Targeting Markets Notes: An undifferentiated targeting strategy is essentially a mass-market philosophy—viewing the market as one big market and using one marketing mix.
Chapter 8 Segmenting and Targeting Markets Notes: The first firm in an industry sometimes uses an undifferentiated strategy. Consider Coca-Cola when it had a single product and a single size of its original soft drink. Marketers of commodity products, such as flour and sugar, are also likely to use this strategy. Additionally, small stores in small towns with no competition may offer one marketing mix and be successful. Even toilet tissue manufacturers have different segments—both industrial and consumer--and adopt different marketing mixes for different segments.
Chapter 8 Segmenting and Targeting Markets Notes: 1. With a concentrated targeting strategy, a firm selects a niche for targeting its efforts.
Chapter 8 Segmenting and Targeting Markets Notes: A concentrated strategy of focusing on a narrow market is sometimes more profitable than spreading resources over several different segments. A concentrated strategy often enables small firms to compete effectively with much larger firms. However, a concentrated strategy can also be disastrous for a firm that is not successful in its narrowly defined target market. Discussion/Team Activity: Identify firms that have adopted a niche strategy. Examples: watchmakers Patek Philippe, Rolex, and Breguet. Porsche, OshKosh B’Gosh, Orvis, Starbucks, AOL, and Enterprise Rent-A-Car.
Chapter 8 Segmenting and Targeting Markets
Chapter 8 Segmenting and Targeting Markets
Chapter 8 Segmenting and Targeting Markets Notes: Examples of multisegment targeting strategy include Best Buy, Gap, Wal-Mart. Discussion/Team Activity: Wal-Mart recently opened a pilot store in Plano, Texas, that stocks plasma TVs, fine jewelry, expensive wine, etc. Discuss ways that Wal-Mart can attract upper-end customers. What marketing mix would you suggest?
Chapter 8 Segmenting and Targeting Markets Notes: Multisegment targeting does come with a price, including those costs shown on this slide. Before deciding on this strategy, firms should compare the benefits and costs of multisegment targeting to those of undifferentiated and concentrated targeting.
Chapter 8 Segmenting and Targeting Markets
Chapter 8 Segmenting and Targeting Markets
Chapter 8 Segmenting and Targeting Markets Notes: Even though one-to-one marketing represents a huge commitment and a different way of thinking for marketers, it will grow. The trends shown on this slide illustrate why. Although mass marketing will continue to be used to create brand awareness or remind consumers of a product, the advantages of one-to-one marketing are strong.
Chapter 8 Segmenting and Targeting Markets
Chapter 8 Segmenting and Targeting Markets Notes: Position is the place a product, brand, or group of products occupies in consumers’ minds relative to competing offerings. Positioning assumes that consumers compare products on the basis of important features. Effective positioning requires assessing the positions occupied by competing products, determining the important dimensions underlying these positions, and choosing a position in the market where the marketing efforts will have the greatest impact.
Chapter 8 Segmenting and Targeting Markets Notes: This slide compares the unique positions for Procter & Gamble’s laundry detergents. Discussion/Team Activity: Discuss specific advertisements for these detergents and how these ads illustrate the unique positions listed on this slide. Examine the positioning message of other product advertisements.
Chapter 8 Segmenting and Targeting Markets
Chapter 8 Segmenting and Targeting Markets
Chapter 8 Segmenting and Targeting Markets Notes: Exhibit 7.3 shows Levi’s brands and subbrands, based on price and fashion style. For permissions reasons, we are not able to display the visual electronically, but below is an activity you can do with your students as they work from their book. Discussion/Team Activity: What is the target market and marketplace perception of some of Levi’s brands? What are Levi’s strengths in the marketplace? What are Levi’s weaknesses? How can Levi’s use perceptual mapping to enhance its product strategy?
Chapter 8 Segmenting and Targeting Markets Notes: The following bases for positioning are used: Attribute: Association of a product with a product feature, an attribute, or customer benefit. Price and quality: High price as a symbol of quality, or low price as an indicator of value may be used to position a product. Use or application: Stressing use or applications. Product user: Positioning base focuses on a personality or type of user. Product class: Product is positioned as associated with a particular category of products. Competitor: Positioning against competitors is a part of any positioning strategy. Emotion: Positioning using emotion focuses on how the product makes customers feel. One or more positioning bases is often used.
Chapter 8 Segmenting and Targeting Markets Notes: Products are repositioned to sustain growth in slow markets or to correct positioning mistakes A good example of repositioning was the National Pork Board’s campaign of “the other white meat.” Also, consider the expansion of Wal-Mart into the supermarket industry. A consultant predicts that two supermarkets will go out of business for every Wal-Mart superstore that opens in the U.S. Discussion/Team Activity: As giant Wal-Mart expands into the supermarket industry, what repositioning strategies should its competitors consider? How do you compete with the low-price position of Wal-Mart?
Chapter 8 Segmenting and Targeting Markets Notes: In this perceptual map for Cadillac, see how Cadillac is repositioning itself as a car for younger drivers.