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CHAPTER THREE

www.mhhe.com/fourps CHAPTER THREE Focusing Marketing Strategy with Segmentation and Positioning For use only with Perreault/Cannon/McCarthy or Perreault/McCarthy texts. © 2008 McGraw-Hill Companies, Inc. McGraw-Hill/Irwin Focusing Marketing Strategy with Segmentation and Positioning Target

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CHAPTER THREE

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  1. www.mhhe.com/fourps CHAPTER THREE Focusing Marketing Strategy with Segmentation and Positioning For use only withPerreault/Cannon/McCarthy or Perreault/McCarthy texts. © 2008 McGraw-Hill Companies, Inc. McGraw-Hill/Irwin

  2. Focusing Marketing Strategy with Segmentation and Positioning Target Market

  3. Focusing Marketing Strategy with Segmentation and Positioning (Exhibit 3-1) • Segmentation • Defining markets • Dimensions to use • Identifying segments • Identifying segments to target • Segmentation approaches • Positioning • Understanding customer’s view • Positioning techniques • Evaluating segment preferences • Differentiating the marketing mix • Relationship between • positioning & targeting

  4. Product Type Customer Needs Product-MarketDefinition Geographic Area Customer Type Naming Product Markets and Generic Markets Customer Needs Product Type Customer Type No Product Type in Generic Market Definition

  5. Selecting target marketing approach Single Segmenting target into possible Narrowing down to specific product-market market target markets approach Multiple One broad product- market Homogeneous (narrow) product- markets All customer needs Some generic market target market approach Combined target market approach Search for Opportunities Can Begin by Understanding Markets (Exhibit 3-3)

  6. In a product-market area A segmenter A combiner Using single target market approach – can aim at one submarket with one marketing mix Using multiple target market approach – can aim at two or more submarkets with different marketing mixes Using combined target market approach – can aim at two or more submarkets with the same marketing mix Target Marketers Aim at Specific Targets (Exhibit 3-6)

  7. Combiners Try to Satisfy “Pretty Well” Profit Is the Balancing Point Too Much Combining Is Risky Segment or Combine? Segmenters Try to Satisfy “Very Well” Segmenting May Produce Bigger Sales Segmenting vs. Combining Combiners Try to Satisfy “Pretty Well” Too Much Combining Is Risky Key Issues Segment or Combine? Segmenters Try to Satisfy “Very Well” Segmenting May Produce Bigger Sales

  8. Needs Information required Benefits sought Benefits sought Type of problem-solving Thoughts Type of problem-solving Thoughts Behavioral Segmenting Dimensions Rate of use Kind of shopping Rate of use Kind of shopping Brand familiarity Purchase relationship Purchase relationship Behavioral dimensions for segmenting consumer markets Needs Brand familiarity

  9. Income Income Sex or age Sex or age Family size or family life cycle stage Family size or family life cycle stage Occupation or education Occupation or education Ethnicity or social class Demographic dimensions for segmenting consumer markets Demographic Segmentation Dimensions

  10. Segmenting business markets Kind of relationship Kind of relationship Type of customer Type of customer Segmenting Dimensions for Business Markets Demographics Demographics Purchasing methods How customers will use the product How customers will use the product Type of buying situation Type of buying situation

  11. Qualifying Dimensions Determining Dimensions • Affect the customer’s purchase of a product or brand • Can be further segmented • Relevant to including a customer type in a product-market • Help identify “core benefits” What Dimensions Are Used to Segment Markets? OR

  12. Select (name) the broad product-market Select (name) the broad product-market Identify potential customer Needs Form homogeneous submarkets Identify determining dimensions Name possible product-markets Evaluate product-market segments Estimate size of each product-market segments Segmenting Product Markets Identify potential customer needs Best Practice Approach for Segmenting Product-Markets Form homogeneous submarkets Identify determining dimensions Name possible product-markets Evaluate product-market segment behaviors

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