How should Business markets be segmented?Sameer Mathur
This presentation tells about how business markets should be segmented.
Based on Chapter 7 Kotler
Marketing Management : A South Asian Perspective 14th Edition (English) 14th Edition
How should Business markets be segmented?Sameer Mathur
This presentation tells about how business markets should be segmented.
Based on Chapter 7 Kotler
Marketing Management : A South Asian Perspective 14th Edition (English) 14th Edition
Learn more at www.wdcep.com/business-in-dc/marketing-your-business/
Doing Business 2.0 is an education seminar that features content from the WDCEP's Doing Business in DC publication.
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.
As the call for for skilled experts continues to develop, investing in quality education and education from a reputable https://www.safalta.com/online-digital-marketing/best-digital-marketing-institute-in-noida Digital advertising institute in Noida can lead to a a success career on this eve
Mastering Multi-Touchpoint Content Strategy: Navigate Fragmented User JourneysSearch Engine Journal
Digital platforms are constantly multiplying, and with that, user engagement is becoming more intricate and fragmented.
So how do you effectively navigate distributing and tailoring your content across these various touchpoints?
Watch this webinar as we dive into the evolving landscape of content strategy tailored for today's fragmented user journeys. Understanding how to deliver your content to your users is more crucial than ever, and we’ll provide actionable tips for navigating these intricate challenges.
You’ll learn:
- How today’s users engage with content across various channels and devices.
- The latest methodologies for identifying and addressing content gaps to keep your content strategy proactive and relevant.
- What digital shelf space is and how your content strategy needs to pivot.
With Wayne Cichanski, we’ll explore innovative strategies to map out and meet the diverse needs of your audience, ensuring every piece of content resonates and connects, regardless of where or how it is consumed.
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.
Key Takeaways:
1. Real content is king
2. Find ways to show EEAT
3. Repurpose across all platforms
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
It's another new era of digital and marketers are faced with making big bets on their digital strategy. If you are looking at modernizing your tech stack to support your digital evolution, there are a few can't miss (often overlooked) areas that should be part of every conversation. We'll cover setting your vision, avoiding siloes, adding a democratized approach to data strategy, localization, creating critical governance requirements and more. Attendees will walk away with actions they can take into initiatives they are running today and consider for the future.
10 Video Ideas Any Business Can Make RIGHT NOW!
You'll never draw a blank again on what kind of video to make for your business. Go beyond the basic categories and truly reimagine a brand new advanced way to brainstorm video content creation. During this masterclass you'll be challenged to think creatively and outside of the box and view your videos through lenses you may have never thought of previously. It's guaranteed that you'll leave with more than 10 video ideas, but I like to under-promise and over-deliver. Don't miss this session.
Key Takeaways:
How to use the Video Matrix
How to use additional "Lenses"
Where to source original video ideas
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.
SEO as the Backbone of Digital MarketingFelipe Bazon
In this talk Felipe Bazon will share how him and his team at Hedgehog Digital share our journey of making C-Levels alike, specially CMOS realize that SEO is the backbone of digital marketing by showing how SEO can contribute to brand awareness, reputation and authority and above all how to use SEO to create more robust global marketing strategies.
Is AI-Generated Content the Future of Content Creation?Cut-the-SaaS
Discover the transformative power of AI in content creation with our presentation, "Is AI-Generated Content the Future of Content Creation?" by Puran Parsani, CEO & Editor of Cut-The-SaaS. Learn how AI-generated content is revolutionizing marketing, publishing, education, healthcare, and finance by offering unprecedented efficiency, creativity, and scalability.
Understanding
AI-Generated Content:
AI-generated content includes text, images, videos, and audio produced by AI without direct human involvement. This technology leverages large datasets to create contextually relevant and coherent material, streamlining content production.
Key Benefits:
Content Creation: Rapidly generate high-quality content for blogs, articles, and social media.
Brainstorming: AI simulates conversations to inspire creative ideas.
Research Assistance: Efficiently summarize and research information.
Market Insights:
The content marketing industry is projected to grow to $17.6 billion by 2032, with AI-generated content expected to dominate over 55% of the market.
Case Study: CNET’s AI Content Controversy:
CNET’s use of AI for news articles led to public scrutiny due to factual inaccuracies, highlighting the need for transparency and human oversight.
Benefits Across Industries:
Marketing: Personalize content at scale and optimize engagement with predictive analytics.
Publishing: Automate content creation for faster publication cycles.
Education: Efficiently generate educational materials.
Healthcare: Create accurate content for patients and professionals.
Finance: Produce timely financial content for decision-making.
Challenges and Ethical Considerations:
Transparency: Disclose AI use to maintain trust.
Bias: Address potential AI biases with diverse datasets.
SEO: Ensure AI content meets SEO standards.
Quality: Maintain high standards to prevent misinformation.
Conclusion:
AI-generated content offers significant benefits in efficiency, personalization, and scalability. However, ethical considerations and quality assurance are crucial for responsible use. Explore the future of content creation with us and see how AI is transforming various industries.
Connect with Us:
Follow Cut-The-SaaS on LinkedIn, Instagram, YouTube, Twitter, and Medium. Visit cut-the-saas.com for more insights and resources.
Come learn how YOU can Animate and Illuminate the World with Generative AI's Explosive Power. Come sit in the driver's seat and learn to harness this great technology.
Financial curveballs sent many American families reeling in 2023. Household budgets were squeezed by rising interest rates, surging prices on everyday goods, and a stagnating housing market. Consumers were feeling strapped. That sentiment, however, appears to be waning. The question is, to what extent?
To take the pulse of consumers’ feelings about their financial well-being ahead of a highly anticipated election, ThinkNow conducted a nationally representative quantitative survey. The survey highlights consumers’ hopes and anxieties as we move into 2024. Let's unpack the key findings to gain insights about where we stand.
A.I. (artificial intelligence) platforms are popping up all the time, and many of them can and should be used to help grow your brand, increase your sales and decrease your marketing costs.In this presentation:We will review some of the best AI platforms that are available for you to use.We will interact with some of the platforms in real-time, so attendees can see how they work.We will also look at some current brands that are using AI to help them create marketing messages, saving them time and money in the process. Lastly, we will discuss the pros and cons of using AI in marketing & branding and have a lively conversation that includes comments from the audience.
Key Takeaways:
Attendees will learn about LLM platforms, like ChatGPT, and how they work, with preset examples and real time interactions with the platform. Attendees will learn about other AI platforms that are creating graphic design elements at the push of a button...pre-set examples and real-time interactions.Attendees will discuss the pros & cons of AI in marketing + branding and share their perspectives with one another. Attendees will learn about the cost savings and the time savings associated with using AI, should they choose to.
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.
The Secret to Engaging Modern Consumers: Journey Mapping and Personalization
In today's digital landscape, understanding the customer's journey and delivering personalized experiences are paramount. This masterclass delves into the art of consumer journey mapping, a powerful technique that visualizes the entire customer experience across touchpoints. Attendees will learn how to create detailed journey maps, identify pain points, and uncover opportunities for optimization. The presentation also explores personalization strategies that leverage data and technology to tailor content, products, and experiences to individual customers. From real-time personalization to predictive analytics, attendees will gain insights into cutting-edge approaches that drive engagement and loyalty.
Key Takeaways:
Current consumer landscape; Steps to mapping an effective consumer journey; Understanding the value of personalization; Integrating mapping and personalization for success; Brands that are getting It right!; Best Practices; Future Trends
Influencer marketing isn't just for big brands or consumer products anymore. In 2024, marketers face hurdles like escalating paid channel costs, diminishing organic reach, and building trust in their ideal customer accounts. This session offers practical ways to bring influencer marketing into your organization, to provide cost-effective access to niche audiences, countering budget constraints and rising CPMs. We'll discuss the impact of social algorithms on reach, the trust deficit in traditional advertising and how influencer partnerships offer genuine connections with audiences. Attendees will gain actionable insights to integrate influencer marketing into their strategies, leveraging influencers for impactful campaigns in both B2B and B2C environments. Join us to unlock the potential of influencers in navigating the evolving marketing landscape of 2024 and driving meaningful business growth.
Key Takeaways:
- Educate on the various types of influence we can use as marketers
- Establish the problems that make influencers a priority
- Walk through some practical tactics on HOW to run a program leveraging several of these influence channels
3. Market Segmentation
Market segmentation is the
subdividing of a market
into distinct subsets of
customers.
Segments
Members are different
between segments but
similar within.
4. WHAT IS A SEGMENTATION?WHAT IS A SEGMENTATION?
HETEROGENIC MARKET – different types of
products are needed by consumers or customers.
For instance: home, automobile, clothes and so
on…
SEGMENTATION – dividing heterogeneous
markets to homogeneous submarkets.
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6. Primary Characteristics
of Segments
Bases - characteristics that tell us why segments
differ (e.g. needs, preferences, decision processes).
Descriptors - characteristics that help us find and
reach segments.
(Business markets) (Consumer markets)
Industry Age/Income
Size Education
Location Profession
Organizational Life styles
structure Media habits
7. Segmentation in Action
We se g m e nt o ur custo m e rs by le tte r vo lum e , by
po stag e vo lum e , by the type o f e q uipm e nt the y
use . The n we se g m e nt o n whe the r the y buy o r
le ase e q uipm e nt.
Base d o n this kno wle dg e , we targ e t o ur m arke ting
m e ssag e s, fine tune o ur sale s tactics, le arn which
be ne fits appe alto which custo m e rs and z e ro in o n
ke y de cisio n m ake rs at a co m pany.
— Kathleen Synnot, VP, Worldwide Marketing
Mailing Systems Division, Pitney Bowes, Inc.
8. STP as Business Strategy
Segmentation
Identify segmentation bases and segment the market.
Develop profiles of resulting segments.
Targeting
Evaluate attractiveness of each segment.
Select target segments.
Positioning
Identify possible positioning concepts for each target segment.
Select, develop, and communicate the chosen concept.
… to create and claim value
9. Benefits of Segmentation
1. Consumer needs are effectively met
2. More profitable market segment are chosen
3. Different promotional activities are used for each
segment
4. Changes in the market are effectively tracked
5. Marketing activities are effectively implemented
6. All resources are used efficiency
Weaknesses of Segmentation
1. Segmentation requires a huge costs
2. Stock costs are increased due to needed different
stocks
3. Different ad is needed for each segment
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10. BASIC SEGMENTATION CRITERIABASIC SEGMENTATION CRITERIA
AND ITS TYPESAND ITS TYPES
CONSUMER MARKET SEGMENTATION
1. Geographical and regional based segmentation
2. Demographic segmentation
3. Psychological segmentation
4. Segmentation regarding to product factors
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11. Market Segmentation
Geographic Segmentation
Dividing the market into different geographical
units such as nations, states, regions,
countries, cities, or neighborhoods.
(Philip Kotler)
12. Market Segmentation
Demographic Segmentation
Dividing the market into groups based on
demographic variables such as age, gender,
family size, family life cycle, income,
occupation, education, religion, race, and
nationality.
(Philip Kotler)
13. Market Segmentation
Psychographic Segmentation
Dividing a market into different groups based
on social class, lifestyle, or personality
characteristics.
(Philip Kotler)
14. Market Segmentation
Behavioral Segmentation
Dividing a market into groups based on
consumer knowledge, attitude, use, or
response to a product.
(Philip Kotler)
15. BUSINESS MARKET SEGMENTATIONBUSINESS MARKET SEGMENTATION
Regional and Geographical based segmentation
Organization type
Customer type
Product using
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16. Market Targeting
Market Targeting:
The process of evaluating each market
segment’s attractiveness and selecting one or
more segment to enter.
17. Market Targeting
A target market is a set of buyers sharing
common needs or characteristics that the
company decides to serve.
18. Market Targeting
Evaluating and Selecting the Market Segments:
Company’s Objectives
And Resources
Attractiveness of the Market
•Size
•Growth
•Profitability
•Scale Economies
•Competition
•Risks
•Synergy
19. Market Targeting
Five Patterns of Target Market Selection
(by D.F. Abell)S1 S2 S3
P1
P2
P3
P = Products
S = Market Segment
Single Segment Concentration
20. Market Targeting
S1 S2 S3
P1
P2
P3
P = Products
S = Market Segment
Selective Specialization
Five Patterns of Target Market Selection
(by D.F. Abell)
21. Market Targeting
S1 S2 S3
P1
P2
P3
P = Products
S = Market Segment
Product Specialization
Five Patterns of Target Market Selection
(by D.F. Abell)
22. Market Targeting
S1 S2 S3
P1
P2
P3
P = Products
S = Market Segment
Market Specialization
Five Patterns of Target Market Selection
(by D.F. Abell)
23. Market Targeting
S1 S2 S3
P1
P2
P3
P = Products
S = Market Segment
Full Market Coverage
Five Patterns of Target Market Selection
(by D.F. Abell)
25. Market Targeting
Three Alternative Market Strategies
(by Philip Kotler)
Undifferentiated
Marketing Company
Marketing
Mix
The Market
26. UNDIFFERENTIATED MARKETINGUNDIFFERENTIATED MARKETING
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MARKET
COMPANY
One 4P
Everybody can be customer. It is
impossible to segment market for some
kind of products. For instance: bread,
salt, matches and etc… only one 4P is
used in such markets.
This strategy is used as soon as sales
income and profit expectations of a
company are met.
28. DIFFERENTIATED MARKETINGDIFFERENTIATED MARKETING
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Different 4P’s is used in
different identified
market segments.
This strategy is generally
used by HOLDINGS.
1st
4P
COMPANY
2nd
4P
3rd
4P
30. FOCUSED MARKETINGFOCUSED MARKETING
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Market is segmented and
only one segment is chosen
to work.
Produced goods and services
may belong to one segment.
To exemplify: Universities
are advertised for people
aged between 18-25.
one 4P
COMPANY
31. MARKET EVALUATION AD SALESMARKET EVALUATION AD SALES
FORECASTINGFORECASTING
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Potential Market, Sales Potential, Sales ForecastingPotential Market, Sales Potential, Sales Forecasting
Potential Market – the number of people can be
costumers for an industry.
Sales Potential – How many people can buy the
product.
Sales Forecast – the number of products can be sold.
32. Market Positioning
Market Positioning
Arranging for a product to occupy a clear,
distinctive, and desirable place relative to
competing products in the minds of target
consumers.
(Philip Kotler)
33. Market Positioning
“Positioning” according to Ries and Trout
“Positioning is what you do to the minds of the prospect. That is,
you position the product in the mind of of the prospect.
(Al Ries and Jack Trout: “Positioning: The Battle fo r Yo ur Mind”, NY Warner
Books, 1982)
Here!
34. Market Positioning
“Product Position”
The Way the product is defined by Consumers
on important attributes – the place the product
occupies in consumers minds relative to
competing products.
(Philip Kotler)
36. Market Positioning
USP defined
The concept of "USP" is credited to Rosser
Reeves, chairman of the Ted Bates & Co.
advertising agency in the 1950s. He was
one of the first to develop a technique for
communicating in an overcrowded
marketplace. His definition of what makes a
USP holds true today.
37. Market Positioning
USP defined
All advertising must make a proposition to
the customer:
Buy this, and you will receive a specified
benefit.
The proposition must be unique;
something competitors cannot claim, or
have not chosen to emphasize in their
promotions.
The proposition must be so compelling
that it motivates individuals to act.
38. Market Positioning
USP References:
Ref: Your USP: Use it or lose it
Practice: What is your USP?
In the class
When you apply for a Job
When you want to marry!