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Click to edit Master title style,Click to edit Master text styles,Second Level,Third Level,Fourth Level,Fifth Level,Irwin/McGraw-Hill,The,McGraw-Hill Companies, Inc., 1998,Segmentation, Targeting, Positioning,Slide,8-9,Figure,Analyze CustomerProduct Relationship,Investigate Segmentation Bases,Develop ProductPositioning,Select Segmentation Strategy,Market Segmentation,process of dividing a market into groups of potential buyers who have similar needs and wants, value perceptions, or purchasing behaviors,Mass Marketing, Segment Marketing, Individual Marketing,Analyze-Customer Product Relationships,Identify prospects: people or organizations that are potential customers,Eliminate non-prospects,Investigate Segmentation Bases,Demographic Segmentation,Ethnic Background,Age,Gender,Income,Geographic Segmentation,include neighborhoods, towns, cities, counties, states or countries,people within various boundaries may share,common income levels,cultures,climates,values,Example: laundry detergent,Clusters neighborhoods into lifestyle categories,Combines geographic & demographic segmentation,PRIZM, Claritas,Geodemographic Segmentation,Activities,Interests,Opinions,Psychological:Psychographic Segmentation,Behavioral segmentation,how people use product,Heavy, medium, and light users,Potential, non-users, ex-users, regulars, first time users,brand loyalty,Benefits Segmentation:Toothpaste market,Develop Product Positioning,use of marketing to encourage people in the target market to form a particular mental image of a product relative to competing products,way the product is defined by consumers on important attributes,the place the product occupies in the consumers mind,Positioning Strategies: Position your product,by competitors,by attribute,by use or application,by user,by product class,Select Segmentation Strategy,Measurability of segment,size,growth,competition,cost of reaching segment,organizational objectives and strength,Additional Segmentation Criteria,Ethical Choice of Market Targets,Segment Interrelationships & Supersegments,Segment-by-Segment Invasion Plans,Intersegment Cooperation,Example of Segments in Pats Diner,Selected Segments,Target Marketing Strategies: Undifferentiated Marketing,Marketing,Mix,Market A,Market B,Market C,Advantages/Disadvantages Undifferentiated Targeting,Potential savings on production/marketing costs (Cost Economies),Unimaginative product offerings,Company more susceptible to competition,Target Marketing Strategies: Differentiated Marketing,Marketing,Mix A,Marketing,Mix B,Marketing,Mix C,Market A,Market B,Market C,Market D,Advantages/Disadvantages to Differentiated Marketing,Creates more Total Sales,Increases costs of doing business,Cannibalization,Target Marketing Strategies: Niche Marketing,Marketing,Mix A,Market A,Market B,Market C,Target Marketing Strategies:,Individual Marketing,Marketing,mix C,Irwin/McGraw-Hill,The,McGraw-Hill Companies, Inc., 1998,The Process of Market Segmentation,Slide,8-9,Figure,Analyze CustomerProduct Relationship,Investigate Segmentation Bases,Develop ProductPositioning,Select Segmentation Strategy,
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