This document discusses market segmentation, targeting, and positioning. It defines market segmentation as dividing the total market into homogeneous groups. There are several bases for segmenting markets, including geographic, demographic, psychographic, and behavioral variables. The advantages of segmentation include designing tailored marketing mixes for each segment. Effective segmentation requires segments to be measurable, substantial, accessible, differential, and actionable. Targeting involves evaluating segment attractiveness and selecting segments to target. Positioning is designing a company's offering and image to occupy a distinctive place in consumers' minds relative to competitors.
Business and marketing ethics on consumer behaviorSeta Wicaksana
Ethics is a complex concept to define, and there is an attempt made by contemporary theorists to highlight ethical behavior in a marketing context. Issues surrounding marketing ethics and social responsibility are inherently controversial. An area that causes particular dispute is the question of the effect of ethical and unethical marketing activity in regards to the purchasing behavior of consumers.
Business and marketing ethics on consumer behaviorSeta Wicaksana
Ethics is a complex concept to define, and there is an attempt made by contemporary theorists to highlight ethical behavior in a marketing context. Issues surrounding marketing ethics and social responsibility are inherently controversial. An area that causes particular dispute is the question of the effect of ethical and unethical marketing activity in regards to the purchasing behavior of consumers.
pricing methods, perceived value pricing, competition based pricing, total cost based pricing or floor pricing, mark up pricing, target return pricing.
What do you mean by Market research, Concept of Market Research, Application of Market Research, Advantages of Market Research, Process of Market Research, Market Information.
slide share on promotion strategy how the promotion strategy works in selling out the products and how promotion activities are necessary to sell the more products and to increase the sale as well as profit of the company
pricing methods, perceived value pricing, competition based pricing, total cost based pricing or floor pricing, mark up pricing, target return pricing.
What do you mean by Market research, Concept of Market Research, Application of Market Research, Advantages of Market Research, Process of Market Research, Market Information.
slide share on promotion strategy how the promotion strategy works in selling out the products and how promotion activities are necessary to sell the more products and to increase the sale as well as profit of the company
5 big bets to drive growth in 2024 without one additional marketing dollar AND how to adapt to the biggest shifting eCommerce trend- AI.
1) Romance Your Customers - Retention
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The What, Why & How of 3D and AR in Digital CommercePushON Ltd
Vladimir Mulhem has over 20 years of experience in commercialising cutting edge creative technology across construction, marketing and retail.
Previously the founder and Tech and Innovation Director of Creative Content Works working with the likes of Next, John Lewis and JD Sport, he now helps retailers, brands and agencies solve challenges of applying the emerging technologies 3D, AR, VR and Gen AI to real-world problems.
In this webinar, Vladimir will be covering the following topics:
Applications of 3D and AR in Digital Commerce,
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Digital platforms are constantly multiplying, and with that, user engagement is becoming more intricate and fragmented.
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In this presentation, Danny Leibrandt explains the impact of AI on SEO and what Google has been doing about it. Learn how to take your SEO game to the next level and win over Google with his new strategy anyone can use. Get actionable steps to rank your name, your business, and your clients on Google - the right way.
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The digital marketing industry is changing faster than ever and those who don’t adapt with the times are losing market share. Where should marketers be focusing their efforts? What strategies are the experts seeing get the best results? Get up-to-speed with the latest industry insights, trends and predictions for the future in this panel discussion with some leading digital marketing experts.
Digital Commerce Lecture for Advanced Digital & Social Media Strategy at UCLA...Valters Lauzums
E-commerce in 2024 is characterized by a dynamic blend of opportunities and significant challenges. Supply chain disruptions and inventory shortages are critical issues, leading to increased shipping delays and rising costs, which impact timely delivery and squeeze profit margins. Efficient logistics management is essential, yet it is often hampered by these external factors. Payment processing, while needing to ensure security and user convenience, grapples with preventing fraud and integrating diverse payment methods, adding another layer of complexity. Furthermore, fulfillment operations require a streamlined approach to handle volume spikes and maintain accuracy in order picking, packing, and shipping, all while meeting customers' heightened expectations for faster delivery times.
Amid these operational challenges, customer data has emerged as an important strategy. By focusing on personalization and enhancing customer experience from historical behavior, businesses can deliver improved website and brand experienced, better product recommendations, optimal promotions, and content to meet individual preferences. Better data analytics can also help in effectively creating marketing campaigns, improving customer retention, and driving product development and inventory management.
Innovative formats such as social commerce and live shopping are beginning to impact the digital commerce landscape, offering new ways to engage with customers and drive sales, and may provide opportunity for brands that have been priced out or seen a downturn with post-pandemic shopping behavior. Social commerce integrates shopping experiences directly into social media platforms, tapping into the massive user bases of these networks to increase reach and engagement. Live shopping, on the other hand, combines entertainment and real-time interaction, providing a dynamic platform for showcasing products and encouraging immediate purchases. These innovations not only enhance customer engagement but also provide valuable data for businesses to refine their strategies and deliver superior shopping experiences.
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When most people in the industry talk about online or digital reputation management, what they're really saying is Google search and PPC. And it's usually reactive, left dealing with the aftermath of negative information published somewhere online. That's outdated. It leaves executives, organizations and other high-profile individuals at a high risk of a digital reputation attack that spans channels and tactics. But the tools needed to safeguard against an attack are more cybersecurity-oriented than most marketing and communications professionals can manage. Business leaders Leaders grasp the importance; 83% of executives place reputation in their top five areas of risk, yet only 23% are confident in their ability to address it. To succeed in 2024 and beyond, you need to turn online reputation on its axis and think like an attacker.\
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Digital marketing is the art and science of promoting products or services using digital channels to reach and engage with potential customers. It encompasses a wide range of online tactics and strategies aimed at increasing brand visibility, driving website traffic, generating leads, and ultimately, converting those leads into customers.
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When most people in the industry talk about online or digital reputation management, what they're really saying is Google search and PPC. And it's usually reactive, left dealing with the aftermath of negative information published somewhere online. That's outdated. It leaves executives, organizations and other high-profile individuals at a high risk of a digital reputation attack that spans channels and tactics. But the tools needed to safeguard against an attack are more cybersecurity-oriented than most marketing and communications professionals can manage. Business leaders Leaders grasp the importance; 83% of executives place reputation in their top five areas of risk, yet only 23% are confident in their ability to address it. To succeed in 2024 and beyond, you need to turn online reputation on its axis and think like an attacker.
Key Takeaways:
- New framework for examining and safeguarding an online reputation
- Tools and techniques to keep you a step ahead
- Practical examples that demonstrate when to act, how to act and how to recover
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The digital marketing industry is changing faster than ever and those who don’t adapt with the times are losing market share. Where should marketers be focusing their efforts? What strategies are the experts seeing get the best results? Get up-to-speed with the latest industry insights, trends and predictions for the future in this panel discussion with some leading digital marketing experts.
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3. Objective
• Summarize the relationship between market segmentation, targeting
and positioning
• The advantage of segmenting a market
• Requirement for effective segmentation
• Identify and describe the major variables for consumer segmentation
• Outline how companies select target markets and implement
segmentation strategies
• Frequently used market segment targeting approaches
5. Market Segmentation
• Process of dividing the total market into several
homogeneous groups
• A market segment is a portion of a larger market in which
the individuals, groups or organizations share one or more
characteristics that cause them to have relatively similar
product needs
6. Market Segmentation
Bases for Segmenting Consumer Markets
Geographic
Demographic
Age, gender, family size
and life cycle, or
income
Psychographic
Social class, lifestyle,
or personality
Behavioural
Occasions, benefits
sought, user status,
usage rate, loyalty
Nations, states,
regions or cities
7. Geographic Segmentation
• Divide overall market by location
• Divide markets into different
geographic units.
• Examples:
– World Region or Country: North
America, Western Europe, European
Union, Pacific Rim, Mexico, etc.
– Country Region: Pacific, Mountain,
East Coast, etc.
– City or Metro Size: Bangalore,
NewDelhi
– Population Density: rural, suburban,
urban
– Climate: northern, southern, tropical,
semi-tropical
Geoclustering
combines geographic data with
demographic data
8. Demographic Segmentation
– Divide overall market by
• Age and Life-cycle Stage
• Life Stage
• Gender
• Income
• Generation
• Race and Culture
• Use Differences in:
• Most frequently used segmentation variable
– Ease of measurement and high availability.
• Usually the worst variable to use.
9. Age and Life-Cycle Stage
Wants and abilities change with age.
Life stage defines a person’s major concern
10. Gender
Women:
Influence 80% of consumer purchases
Make 75% of new home decisions
Purchase 60% of cars
Men and women have different
attitudes and behaviors due in part
to genetics and socialization
12. Generation
Silent Generation (1925-1945) Baby
Boomers (1946-1964)
Gen X (1964-1978)
Millennial’s (Gen Y) – (1979-1994)
- 78 Million people
- > 25000 Rs annual spending
power
Develop products and services that uniquely meet the particular
interests or needs of a generational target.
14. Psychographic Segmentation
Personality traits
Lifestyle
Values
Divides population into groups that have similar psychological
character, values, and lifestyles
People in the same demographic classification often have very
different lifestyles and personalities
15. Behavioral Segmentation
User and Usage
Needs and Benefits
Decision Roles
Initiator
Influencer
DeciderBuyer
User
Usage occasions
User status
Usage rate
Buyer-readiness
Loyalty status
16. Behavioral Segmentation
• Occasion
– Special promotions &
labels for holidays.
– Special products for
special occasions.
• Benefits Sought
– Different segments
desire different benefits
from the same products.
• Loyalty Status
– Hard-core
– Split loyals
– Shifting loyals
– Switchers
• Usage Rate
– Light, medium,
heavy.
21. • Size, purchasing power, profiles
of segments can be measured.
• Segments can be effectively
reached and served.
• Segments are large or profitable
enough to serve.
Measurable
Accessible
Substantial
Differential
Actionable
• Segments must respond
differently to different marketing
mix elements & programs.
• Effective programs can be
designed to attract and serve
the segments.
Requirements for
Effective Segmentation
22. Bases for Segmenting B2B Markets
Demographic
Operating Variables
Purchasing Approach
Situational Factors
Personal Characteristics
Industry, company size, location
Technology, user status, customer capabilities
Power structure, nature of existing relationship
Urgency, specific application, size of order
Buyer-seller similarity, loyalty, risk attitude
26. • Segment Size and Growth Potential
– Sales, profitability and growth rates
• Segment Structural Attractiveness
– Competition, substitute products,
– buyers & supplier power, new entrants
(Porter’s Five Forces)
• Company Objectives and Resources
– Core competencies
– “What business do we want to be in?”
Evaluating Market Segments
27. Market Targeting
Porter’s Five Force
Rivals
New
Entrants
Substitute
Products
Buyer
Power
Supplier
Power
Rivals
New
Entrants
Substitute
Products
Buyer
Power
Supplier
Power
28. Evaluating and Selecting Segments
Individual marketing
Full market coverage
Multiple segment
specialization
Single-segment
concentration
31. – Ignores segmentation opportunities
– firms that produce only 1 product or 1 product
line AND market it to all customers
– Offers one product or service to the entire market
– Salt, sugar, steel etc.,
Undifferentiated (Mass) Marketing
32. Differentiated (Segmented)
Marketing
– Targets several segments
and designs separate offers
for each.
– firms that produce
numerous products w/ dif
marketing mixes designed
to satisfy smaller segments
– Coca-Cola (Coke, Sprite, Diet Coke,
etc.)
– Procter & Gamble (Tide, Cheer,
Gain, Dreft, etc.)
– Toyota (Camry, Corolla, Prius, Scion,
etc.)
33. Niche Marketing
– firm may choose to focus on satisfying a
smaller target market rather than attempting
to market its product offerings to an entire
market
– Targets one or a couple small segments
– Niches have very specialized interests
34. • targeting potential customers at a very basic level (i.e.: by zip codes,
specific occupations, lifestyles or individual households)
• Tailoring products and marketing programs to suit the tastes of
specific individuals and/or locations.
Micromarketing
35. Positioning
• Positioning is arranging for a product to occupy a clear, distinctive and desirable
place relative to competing products in the mind of the consumer
• The act of designing a company’s offering and image to occupy a distinctive
place in the minds of the target market.
• EXAMPLE: To (target segment and need) our (brand) is (concept) that
(point-of-difference)
38. Brand Positioning
• Customer wants and needs
• Company capabilities
• Competitive actions
Quality
Price
Brand A
B
C
D
E
F
G
39. Points of Parity / Difference
Points of Parity
POP
Points of Difference
PODattribute or benefit associations that are
not necessarily unique to the brand
attributes or benefits that consumers
strongly associate with a brand
40. Positioning errors
• Under positioning
– Me too a brand in crowd
• Over positioning
– Projecting high attributes - apple
• Confused Positioning
– Frequent reposition makes consumer confuse
• Doubtful positioning
– Brand name & manufacturer problems
42. In-class Activity, Part 2
• Choose one of the companies/brands and…
– Identify relevant direct competitors
– Choose the two dimensions that are most
important to consumers
– Develop a perceptual positioning map
– Are there any opportunities in this category?
