Q5
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To choose the most attractive target markets, a company must evaluate different market segments based on their overall attractiveness and how they align with the company's objectives and resources. The ideal market segment will be large in size, growing, profitable, allow for economies of scale, and pose low risk. The company should also consider how well each potential segment meets effective segmentation criteria, makes strategic sense given long-term goals, and plays to the company's competencies. Additionally, ethical considerations around consumer backlash, controversy, and faulty products should guide the choice of target markets.
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Q5
The document discusses how companies should choose attractive target markets. A company must evaluate the overall attractiveness of different market segments based on factors like size, growth, profitability and risk, and how well the segment aligns with the company's objectives and resources. Some questions a company should answer include how well a potential segment scores on effective segmentation criteria, if investing in the segment makes sense for long-term goals, and if the company has the needed competencies. The choice of target markets should also avoid unethical options that could lead to backlash, controversy or faulty products.
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How should a company choose the most attractive target markets?
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The document discusses different levels of market segmentation including full market coverage, multiple segments, single segments, and individuals as segments. It then provides more details on each level: full market coverage can involve differentiated or undifferentiated marketing; multiple segments involves selective specialization across attractive segments; single segments focuses on one segment; and individual marketing targets segments of one. Requirements for effective segmentation include segments being measurable, substantial, accessible, differentiable, and actionable. Segment attractiveness should also be evaluated long-term using Porter's five forces.
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Q2
This document discusses various ways to segment consumer markets for companies. It describes four main types of segmentation: geographic segmentation which divides markets into geographical units; demographic segmentation which divides by factors like age, gender, income; psychographic segmentation which divides by psychological and lifestyle factors; and behavioral segmentation which divides by behaviors toward products like usage rate or loyalty status. For each type of segmentation, examples are given of companies targeting specific segments based on geographic, demographic, psychographic or behavioral factors.
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The document provides an overview of industry and competitor analysis. It discusses analyzing industries to understand environmental trends, business trends, and key questions to assess industry attractiveness. It also covers analyzing competitors to identify direct, indirect, and future competitors. Tools discussed include Porter's Five Forces model to evaluate competitive forces in an industry, and a competitive analysis grid to organize information about competitors. The goal of industry and competitor analysis is to help firms understand opportunities and position themselves strategically within their industry.
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The Brand Audit Toolkit: Organizing Data for Insights Spring 2019
The Brand Audit Toolkit: Organizing Data for Insights Spring 2019
Chapter 1 - The Nature of Strategic Management.pptx
Chapter 1 - The Nature of Strategic Management.pptx
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This document discusses a proposal to change the business strategy of Chateau de Vallois, a family-owned wine estate. There is disagreement among stakeholders on whether to enter the affordable luxury wine market. While Clare de Valhubert supports expanding into new markets, Gaspard de Sauveterre and Francois de Sauveterre worry this will damage the brand's reputation. Experts caution that the estate lacks experience in mass marketing and managing multiple brands could distract from their core business. The document recommends creating separate business units and boards to oversee traditional and new brands to minimize risks to the estate's reputation.
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This document provides an overview of key learnings from various marketing modules, including communication strategies for presentations, new product development processes, international market entry strategies, and brand management techniques. It discusses concepts like the innovation imperative, new product success and failure factors, global pricing approaches, and marketing mix adaptation across countries. Case studies of Dove's real beauty campaign and Mountain Man beer's market expansion are analyzed. The importance of customer relationship management and building brand value through innovative initiatives is also highlighted.
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it is based on case study of harvard business school.
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What are the important brand architecture decisions in developing a branding ...
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Q5
- 1. HOW SHOULD A COMPANY CHOOSE THE MOST ATTRACTIVE TARGET MARKETS?
- 2. EVALUATING DIFFERENT MARKET SEGMENTS The firm must look at 2 factors: Overall attractiveness of the segment Company’s objectives and resources Shivam Verma || IIT Delhi
- 3. THE MARKET MUST HAVE ATTRACTIVE CHARACTERISTICS Shivam Verma || IIT Delhi Size Growth Profitability Scale Economies Low Risk
- 4. SOME QUESTIONS THAT SHOULD BE ANSWERED Shivam Verma || IIT Delhi oHow well does a potential segment score on the effective segmentation five criteria? oDoes investing in the segment make sense given the company’s long run objectives? oDoes the company lack one or more necessary competencies to offer superior value? oWhich level of segmentation is required?
- 5. ETHICAL CHOICE OF MARKET TARGETS Shivam Verma || IIT Delhi oAvoid consumer backlash oPublic controversy due to unfair advantage of vulnerable groups oFaulty products
- 6. CREDITS All Photos are taken from google images Shivam Verma || IIT Delhi
- 7. THANK YOU