This document discusses various marketing strategies including market segmentation, mass marketing, micro marketing, and levels of micro marketing such as segment marketing, niche marketing, local marketing, and individual marketing. It provides details on criteria for good market segmentation, bases for segmentation including demographic, geographic, psychographic, and behavioral factors. Benefits and limitations of segmentation are also summarized. Overall, the document is an overview of key concepts in marketing management with a focus on market segmentation strategies.
Emerging trends in consumer behavior: Consumer behavior in online space. Use of Information technology and AI in consumer profiling and engagement, concept of materialistic vs spiritualistic consumption.
Consumer Decision Making Process and models -Howard Sheth, Nicosia Model, Engel Blackwell and Kollat, pavlovian lerning model, sociological model, Psychoanalytic(Sigmund Freud), Andreason
Emerging trends in consumer behavior: Consumer behavior in online space. Use of Information technology and AI in consumer profiling and engagement, concept of materialistic vs spiritualistic consumption.
Consumer Decision Making Process and models -Howard Sheth, Nicosia Model, Engel Blackwell and Kollat, pavlovian lerning model, sociological model, Psychoanalytic(Sigmund Freud), Andreason
Meaning and nature of buyer behavior, differences between consumer buying and organizational buying in terms of characteristics and process, Strategic use of consumer behavior knowledge in marketing and public policy decisions. Modern Consumerism and the global consumer movement
Nature of Consumers' information search , types of information sought by consumers, sources of consumer information, marketing strategy in the information search process, consumers evaluative criteria and its measurement, consumer decision rules, Marketing strategy in the evaluation process.
The concept of marketing starts with customer needs and ends with consumer behavior by meeting the needs of the customers. • The marketers are specifically interested in understanding what a consumer looks at while choosing a specific brand. • CB tries to understand the consumer as a whole.
Meaning and nature of buyer behavior, differences between consumer buying and organizational buying in terms of characteristics and process, Strategic use of consumer behavior knowledge in marketing and public policy decisions. Modern Consumerism and the global consumer movement
Nature of Consumers' information search , types of information sought by consumers, sources of consumer information, marketing strategy in the information search process, consumers evaluative criteria and its measurement, consumer decision rules, Marketing strategy in the evaluation process.
The concept of marketing starts with customer needs and ends with consumer behavior by meeting the needs of the customers. • The marketers are specifically interested in understanding what a consumer looks at while choosing a specific brand. • CB tries to understand the consumer as a whole.
UNIT - II: MARKET SEGMENTATION AND CONSUMER BEHAVIOR: Market
Segmentation, Targeting and Positioning, Segmenting Markets - Bases and Process, Market
Segmentation and Product Differentiation, Target Market Selection, Positioning —
Importance and Process of Marketing Research. Consumer Behavior; Consumer Markets and
Industrial Markets; Market measurement and forecasting. Marketing information system
(MkIS), Marketing research process.
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Mastering Local SEO for Service Businesses in the AI Era is tailored specifically for local service providers like plumbers, dentists, and others seeking to dominate their local search landscape. This session delves into leveraging AI advancements to enhance your online visibility and search rankings through the Content Factory model, designed for creating high-impact, SEO-driven content. Discover the Dollar-a-Day advertising strategy, a cost-effective approach to boost your local SEO efforts and attract more customers with minimal investment. Gain practical insights on optimizing your online presence to meet the specific needs of local service seekers, ensuring your business not only appears but stands out in local searches. This concise, action-oriented workshop is your roadmap to navigating the complexities of digital marketing in the AI age, driving more leads, conversions, and ultimately, success for your local service business.
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Embrace AI for Local SEO: Learn to harness the power of AI technologies to optimize your website and content for local search. Understand the pivotal role AI plays in analyzing search trends and consumer behavior, enabling you to tailor your SEO strategies to meet the specific demands of your target local audience. Leverage the Content Factory Model: Discover the step-by-step process of creating SEO-optimized content at scale. This approach ensures a steady stream of high-quality content that engages local customers and boosts your search rankings. Get an action guide on implementing this model, complete with templates and scheduling strategies to maintain a consistent online presence. Maximize ROI with Dollar-a-Day Advertising: Dive into the cost-effective Dollar-a-Day advertising strategy that amplifies your visibility in local searches without breaking the bank. Learn how to strategically allocate your budget across platforms to target potential local customers effectively. The session includes an action guide on setting up, monitoring, and optimizing your ad campaigns to ensure maximum impact with minimal investment.
Core Web Vitals SEO Workshop - improve your performance [pdf]Peter Mead
Core Web Vitals to improve your website performance for better SEO results with CWV.
CWV Topics include:
- Understanding the latest Core Web Vitals including the significance of LCP, INP and CLS + their impact on SEO
- Optimisation techniques from our experts on how to improve your CWV on platforms like WordPress and WP Engine
- The impact of user experience and SEO
Mastering Local SEO for Service Businesses in the AI Era is tailored specifically for local service providers like plumbers, dentists, and others seeking to dominate their local search landscape. This session delves into leveraging AI advancements to enhance your online visibility and search rankings through the Content Factory model, designed for creating high-impact, SEO-driven content. Discover the Dollar-a-Day advertising strategy, a cost-effective approach to boost your local SEO efforts and attract more customers with minimal investment. Gain practical insights on optimizing your online presence to meet the specific needs of local service seekers, ensuring your business not only appears but stands out in local searches. This concise, action-oriented workshop is your roadmap to navigating the complexities of digital marketing in the AI age, driving more leads, conversions, and ultimately, success for your local service business.
Key Takeaways:
Embrace AI for Local SEO: Learn to harness the power of AI technologies to optimize your website and content for local search. Understand the pivotal role AI plays in analyzing search trends and consumer behavior, enabling you to tailor your SEO strategies to meet the specific demands of your target local audience. Leverage the Content Factory Model: Discover the step-by-step process of creating SEO-optimized content at scale. This approach ensures a steady stream of high-quality content that engages local customers and boosts your search rankings. Get an action guide on implementing this model, complete with templates and scheduling strategies to maintain a consistent online presence. Maximize ROI with Dollar-a-Day Advertising: Dive into the cost-effective Dollar-a-Day advertising strategy that amplifies your visibility in local searches without breaking the bank. Learn how to strategically allocate your budget across platforms to target potential local customers effectively. The session includes an action guide on setting up, monitoring, and optimizing your ad campaigns to ensure maximum impact with minimal investment.
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Videos are more engaging, more memorable, and more popular than any other type of content out there. That’s why it’s estimated that 82% of consumer traffic will come from videos by 2025.
And with videos evolving from landscape to portrait and experts promoting shorter clips, one thing remains constant – our brains LOVE videos.
So is there science behind what makes people absolutely irresistible on camera?
The answer: definitely yes.
In this jam-packed session with Stephanie Garcia, you’ll get your hands on a steal-worthy guide that uncovers the art and science to being irresistible on camera. From body language to words that convert, she’ll show you how to captivate on command so that viewers are excited and ready to take action.
Most small businesses struggle to see marketing results. In this session, we will eliminate any confusion about what to do next, solving your marketing problems so your business can thrive. You’ll learn how to create a foundational marketing OS (operating system) based on neuroscience and backed by real-world results. You’ll be taught how to develop deep customer connections, and how to have your CRM dynamically segment and sell at any stage in the customer’s journey. By the end of the session, you’ll remove confusion and chaos and replace it with clarity and confidence for long-term marketing success.
Key Takeaways:
• Uncover the power of a foundational marketing system that dynamically communicates with prospects and customers on autopilot.
• Harness neuroscience and Tribal Alignment to transform your communication strategies, turning potential clients into fans and those fans into loyal customers.
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• Streamline your business with a content production plan that eliminates guesswork, wasted time, and money.
How to Run Landing Page Tests On and Off Paid Social PlatformsVWO
Join us for an exclusive webinar featuring Mariate, Alexandra and Nima where we will unveil a comprehensive blueprint for crafting a successful paid media strategy focused on landing page testing.With escalating costs in paid advertising, understanding how to maximize each visitor’s experience is crucial for retention and conversion.
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In the second part of the webinar, Pearmill will explore the use of A/B testing platforms. Discover common pitfalls to avoid in A/B testing and gain insights into analyzing A/B tests results effectively.
Most small businesses struggle to see marketing results. In this session, we will eliminate any confusion about what to do next, solving your marketing problems so your business can thrive. You’ll learn how to create a foundational marketing OS (operating system) based on neuroscience and backed by real-world results. You’ll be taught how to develop deep customer connections, and how to have your CRM dynamically segment and sell at any stage in the customer’s journey. By the end of the session, you’ll remove confusion and chaos and replace it with clarity and confidence for long-term marketing success.
Key Takeaways:
• Uncover the power of a foundational marketing system that dynamically communicates with prospects and customers on autopilot.
• Harness neuroscience and Tribal Alignment to transform your communication strategies, turning potential clients into fans and those fans into loyal customers.
• Discover the art of automated segmentation, pinpointing your most lucrative customers and identifying the optimal moments for successful conversions.
• Streamline your business with a content production plan that eliminates guesswork, wasted time, and money.
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
2) ‘Alternative’ Lead Gen - Advocacy
3) The Beautiful Basics - Conversion Rate Optimization
4) Land that Bottom Line - Profitability
5) Roll the Dice - New Business Models
For too many years marketing and sales have operated in silos...while in some forward thinking companies, the two organizations work together to drive new opportunity development and revenue. This session will explore the lessons learned in that beautiful dance that can occur when marketing and sales work together...to drive new opportunity development, account expansion and customer satisfaction.
No, this is not a conversation about MQLs and SQLs. Instead we will focus on a framework that allows the two organizations to drive company success together.
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.
https://nidmindia.com/
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.
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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.
The e-commerce sector is evolving rapidly, and businesses that effectively manage operational challenges and implement innovative strategies are best positioned for long-term success.
Monthly Social Media News Update May 2024Andy Lambert
TL;DR. These are the three themes that stood out to us over the course of last month.
1️⃣ Social media is becoming increasingly significant for brand discovery. Marketers are now understanding the impact of social and budgets are shifting accordingly.
2️⃣ Instagram’s new algorithm and latest guidance will help us maintain organic growth. Instagram continues to evolve, but Reels remains the most crucial tool for growth.
3️⃣ Collaboration will help us unlock growth. Who we work with will define how fast we grow. Meta continues to evolve their Creator Marketplace and now TikTok are beginning to push ‘collabs’ more too.
2. Overview
• Market segmentation
• Pattern of preference segments
• Criteria for good market segment
• Basis for segmentation
• Need based segmentation process
• Benefits and limits of segmentation
3. Mass marketing and Micro marketing
• Mass marketing
An attempt to appeal to an entire market with one basic
marketing strategy utilizing mass distribution and mass
media. Also called undifferentiated marketing.
Read more: http://www.businessdictionary.com/definition/mass-marketing.html#ixzz3JgC14ZaY
• Micro marketing
The activity of marketing products or service directly to
particular groups of people based on information that has
been collected about them
Read more at Cambridge dictionary online
4. Level of micro marketing
1. Segment marketing
Group of customers who share
similar wants.
E.G : a car company decide to
target young middle-income
buyers
2. Niche marketing
Concentrating all marketing efforts on a
small but specific and well
defined segment of the population i.e.
segment is divided into sub segment
E.G: car company decide to target young
middle- income buyers who have small
family .
3. Local marketing
Targets the community around
a physical store or restaurant
i.e. target local customers. It
also referred to neighborhood
marketing.
E.G hotels target market is near
customers or city
4. Individual marketing
Customized marketing or one-
to-one marketing refers to
target particular customer
with their customized needs
and wants.
E.G. hair stylist to customer, cobbler
to customer.
5.
6. Market segmentation
“ Market segmentation is sub-dividing a market into
distinct and homogeneous subgroups of customers,
where any group can conceivably be selected as a
target market to be met with distinct marketing
mix.” Philip kottler.
“A marketing term referring to the aggregating of
prospective buyers into groups (segments) that
have common needs and will respond similarly to a
marketing action.” Investopedia definition
7. Three patterns of preference segments
• 1. Homogeneous Preferences: shows a market where all the
consumers have roughly the same preferences. The market
shows no natural segments. We would predict that existing
brands would be similar and cluster around the middle of the
scale in both sweetness & saltiness.
• 2. Diffused Preferences: At the other extreme, consumer
preferences maybe scattered throughout the space, indicating
that customers vary greatly in their preferences. The first
brand to enter the market is likely to position in the center to
appeal to the most people
• 3. Clustered Preferences: The market might reveal distinct
preference clusters, called natural market segments. The first
firm in this market has three options. It might position in the
center, hoping to appeal to all groups. It might position in the
largest market segment (concentrated marketing).It might
develop several brands, each positioned in a different
segment. If the first firm developed only one brand,
competitors would enter and introduce brands in the other
segments.
•
9. 2.Substnatial
Segment should be large enough in term of sale and
profitable to serve there would be no point in wasting
marketing budget on a market segment that is
insufficiently large.
1. Measurable
Size ,purchasing power and other characteristics
should be measurable with approximate accuracy so
that strategists can then decide whether, how, and to
what extent they should focus their efforts on
marketing to this segment.
10. 3. Accessible
• The market segment should be reachable effectively,
particularly in terms of distribution and communication.
Different segments might respond better to outdoor
advertising, social media campaigns, television infomercials,
or any number of other approaches.
4.Differentiable
An ideal market segment should be internally homogeneous
(i.e. all customers within the segment have similar
preferences and characteristics), but externally
heterogeneous. Differences between market segments should
be clearly defined, so that the campaigns, products and
marketing tools applied to them can be implemented without
overlap.
11. 5 .Actionable
The firm needs to be able to implement a
distinctive marketing mix for each market
segment. The market segment must have
practical value in term of resources and their
utilization .
13. 1.Demographic segmentation
Age
Children, teen age, young, old age
Occupation
Low level job, middle level, high level
Income
Low income, middle income , high
income
Religion
Muslim , Christian , Hindus
Race
Syed,Malik,Mughal ,Rajpoot,Sawati
Nationality
American, African, Pakistani , britishers
Gender
Male, female
Generation
Old generation , new generation
Family size
Small family , large family
Family cycle
Marital status
Education
Uneducated, higher educated
16. 2. Geographic segmentation
Country
Pakistan, Australia, Iran
State or region
South India, Texas , Kashmir
Climate
According to weather pattern common to
certain geographic area
Density
Size of population
City or metro size
Islamabad, Karachi , new York
20. Life styles on basis of AIO
• Succeeder
Strong goal orientation, confidence, work ethic, organization ...
support status quo, stability. Brand choice based on reward,
prestige - the very best . Also attracted to 'caring' and protective
brands ... stress relief. (Top management)
• Aspirer
Materialistic, acquisitive, affiliative, oriented to extrinsic ... image,
appearance, charisma, persona and fashion. Attractive packaging
more important than quality of contents
• Striver
They are fun loving people who are resources constrained . They
favor stylish products that emulate the purchase of those with
greater material wealth
• Explorer
Energy - autonomy, experience, challenge, new frontiers. Brand
choice highlights difference, sensation, adventure, indulgence and
instant effect - the first to try new brands.
22. 2. Social class
• Different consumers fall in different social classes. This
depends mainly on their buying power. The buying power is
affected by the background of the customer, his income as
well as his spending habits. The customer will always buy to
maintain his social class. Thus premium brands like gucci,
longiness or others always target the Sec A segments because
they know that these would be the classes capable of buying
their products. These brands have to keep in mind both –
Lifestyle as well as social class.
24. 3. Personality
• Personality in psychographic segmentation is dependent on
both – lifestyle as well as social class. A person will have a rich
personality only if he has high buying power as well as the
taste in clothes to maintain such a lifestyle. Thus the term
“Brand personality” came into effect. The reason for that is
that different brands target different personalities. A simple
example would be if i ask you what comes in mind if i talk
about a “Harley davidson biker” more commonly known as
Hogs. They would be people unshaven, tall, manly who like to
live a rough lifestyle. That’s the personality built for harley
over time. Thus brands target their customers even based on
their personality.
25. 4. Behavioral segmentation
• Occasions
Groups individuals according to the occasions when they
purchase, use or think of buying a product.
• Benefits
Groups individuals according to the benefits they seek from
the product.
• Loyalty status
• Groups individuals according to their level of loyalty to the
product. 'Hard core loyals' always purchase the product /
brand in question. Whilst 'Soft core loyals' will sometimes
purchase another brand, and 'Switchers' will not specifically
seek out a particular brand, but rather purchase the brand
available to them at time of need, or that which was on sale.
26. User status
Every product has its nonusers, ex-users, potential users, first
time user ad regular users. A company has not to rely only on
regular users, it has to attract the other type as well.
• Usage
Customers can be segmented on the basis of usage status-
heavy users, light users, and on users of a product category.
The profiling of heavy users allows this group to receive most
marketing attention (particularly promotion efforts) on
assumption that brand loyalty among these people ill pay
heavy divides.
• Buyer readiness
Groups individuals according to their readiness to purchase
the product. This segmentation model is particularly useful in
formulating and monitoring the marketing communication
strategies employed to move consumers towards purchase of
a product or brand.
30. Need Based segmentation process
• Needs-based segmentation
• Segment identification
• Segment attractiveness
• Segment profitability
• Segment positioning
• Segment “acid test”
31. Need based segmentation
Group customers on basis of similar needs and wants
Segment identification
Determine characteristics and demographic of each segment.
Segment attractiveness
Use criteria such as growth and access to determine segment attractiveness.
Segment profitability
Determine if segment is acceptably profitable
Segment positioning
Create a value- proposition and product and price positioning strategy
Segment acid test
Story board to test segment attractiveness with positioning strategy
Marketing mix strategy
Expand positioning strategy for complete marketing mix.
32. Benefits of segmentation
• With the help of knowledge about different segments, the marketer
can better allocate the total marketing budget. Differences in
customer response to different marketing tools serve as the basis for
deciding on the allocation of market funds to different customer
groups.
• Facilitate proper choice of target market
• Management can identify new profitable segments which deserve
special attention.
• It is possible to deal with competition more effectively by using
resources more effectively.
• Appropriate service packages can be developed for each market
segment.
• Improve communication with customer .
• Allow marketing campaigns to be more cost and time efficient.
33. Limitations of segmentation
• Segmentation increases costs. When a firm attempts to
serve several market segments, there is a proliferation of
products. Cost of production rises due to shorter production
runs and product variations.
• Promotion and distribution expenditures increase when
separate programme are used for different market
segments.
• When characteristics of a market segment change,
investment made already might become useless.
• Along with segmentation, you also need to check out the
competition offered in the same segment from other
products. Getting into a segment already saturated will
mean higher costs and lesser profit margins