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(1)

i t ’s good and good for you

Chapter Seven

Customer-Driven Marketing Strategy:

(2)

Customer-Driven Marketing Strategy: Creating Value for Target Customers

Customer-Driven Marketing StrategyMarket Segmentation

Market Targeting

(3)

Market segmentation

Dividing a market into smaller segments with distinct needs, characteristics, or behavior that might require separate marketing strategies or mixes.

(4)
(5)

Segmenting consumer markets

Segmenting business markets

Segmenting international markets

Requirements for effective segmentation

(6)

Market Segmentation

Geographic segmentatio n Demographic segmentatio n Psychographi c segmentation Behavioral segmentatio n

(7)

Market Segmentation

Geographic segmentation divides the

market into different geographical units

such as nations, regions, states, counties, or cities

(8)

Market Segmentation

Demographic segmentation

divides the market into groups based on variables such as age, gender, family size, family life cycle, income, occupation, education,

religion, race, generation, and nationality

(9)

Market Segmentation

Age and life-cycle stage segmentation is the

process of offering different products or using different marketing approaches for different age and life-cycle groups

Gender segmentation divides the market

(10)

Market Segmentation

Income segmentation divides the market into affluent,

middle-income or low-income consumers

Psychographic segmentation

divides buyers into different groups based on social class, lifestyle, or personality traits

(11)

Market Segmentation

Behavioral segmentation

divides buyers into groups based on their knowledge, attitudes, uses, or responses to a product

Occasions

Benefits soughtUser status

Usage rate

Loyalty status

(12)

Market Segmentation

Multiple segmentation is used to identify smaller, better-defined target groups

(13)

Market Segmentation

Geographic

location Economic factors

Political-legal factors Cultural factors

(14)

Market Segmentation

Intermarket segmentation divides consumers

into groups with similar needs and buying behaviors even though they are located in different countries

(15)

Market Segmentation

To be useful, market segments must be:

Requirements for Effective Segmentation

Measurable

Measurable AccessibleAccessible

Substantial

Substantial DifferentiableDifferentiable

(16)

Market Targeting

Target market consists of a set of buyers who share common needs or characteristics that the company decides to serve

(17)

Market Targeting

Segment size and growth

Segment structural attractivenessCompany objectives and resources

Evaluating Market Segments

(18)

Selecting Target Market Segments

Undifferentiated

(mass) marketing Differentiated(segment) marketing

Concentrated (niche) marketing

Micromarketing (local or indivi-dual

marketing)

Targeting

broadly Targetingnarrowly

A market-coverage strategy in which a

firm decides to ignore market

segment differences and go

after the whole market with one

A market-coverage strategy in which a firm decides to

target several market segments and designs separate offers for each. A market-coverage strategy in which

a firm goes after a large share of

one or a few segments or

niches.

The practice of tailoring products

and marketing programs to the needs and wants

(19)

Market Targeting

Depends on:

Company resourcesProduct variability

Product life-cycle stageMarket variability

(20)

Differentiation and Positioning

Product position is the way the product is defined by consumers on important attributes—the place the product occupies in

consumers’ minds

relative to competing products

Perceptions

(21)

Differentiation and Positioning

Identifying a set of possible competitive

advantages to build a position

Choosing the right competitive advantagesSelecting an overall positioning strategy

Communicating and delivering the chosen

position to the market

(22)

Differentiation and Positioning

Competitive advantage is an advantage over

competitors gained by offering consumers greater value, either through lower prices or by providing more benefits that justify higher prices

(23)

Differentiation and Positioning

Identifying a set of possible

competitive advantages to build a position by providing superior value from:

Choosing a Differentiation and Positioning Strategy

Product differentiation Service differentiation

(24)

Differentiation and Positioning

To (target segment and need) our (brand) is

(concept) that (point of difference)

(25)

Communication and Delivering the

Chosen Position

(26)

Questions?

SH Vision Wawe

Price ?

What do you think about the group of owner?

Where do they popular sell? Why do they buy it?

Air Blade

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