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Management+140+Lecture+2+2012

Course: MGT 140, Winter 2012
School: UC Davis
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Word Count: 2226

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140: Consumer Management Behavior Segmentation Target Market January 23, 2011 DougFindlay Winter Quarter 2012 Lecture 2 Graduate School of Management, UC Davis Todays Agenda Housekeeping 20 minutes Marketing Team Update Marketing Plan Overview Research Assignment Overview April 11 Homework Assignment Market Segmentation 60 minutes Consumer Behavior Segmentation Target Market BREAK 10 Minutes Segmentation / Positioning Exercise 60 Minutes Not By Jeans Alone In class assignment / discussion Summary Graduate School of Management, UC Davis 10 Minutes Mgmt 140 Course Syllabus: Updated January 9, 2012 Date Key Topics Required Reading Assignments Due Jan 9 - Course Overview - Marketing Overview - Research Overview -Case: Note on Market Research -Case: Note on Market Strategy - Winer: Read Ch 2 & 3 / Review PPT Notes - Consulting Teams Selected - Class Photos Jan 16 - Holiday Jan 23 - Consumer Behavior - Market Segmentation - Target Audience - Case: Segmentation, Target Market Selection - In Class Video: Not By Jeans Alone - Winer: Ch 4 - In Class Assignment Jan 30 - Competition / Differentiation - Customer Acquisition - Case: Top Box Rediscovering Customer Satisfaction - Winer: Ch 5,6 & 14 / Review PPT Notes - Team Proposals Due - In Class Assignment - Research Session (Feb 3) Feb 6 - Product / Customer Positioning - Channels of Distribution - Case: IKEA Invades America - In Class Video: The Persuaders - Winer: Ch 12 & 13 / PPT Notes - In Class Assignment - Case: The Three Faces Of Consumer Promotions - Case: BMW Films - Winer: Winer Ch 11 -Research Project Due Feb 13 - Promotions - Digital Marketing Feb 20 - Mid Term Mar 5 - Branding - Product Marketing - Price - Research Session (Feb 10) -Marketing Project (Feb 17) - Holiday Feb 27 - Research Session (Jan 27) - Marketing Project (Mar 2) -Case: How Snapple Got Its Juice Back - Winer Ch 7, 8 & 9 - In Class Assignment - Marketing Project (Mar 9) Mar 12 - Marketing Plan Presentations - Team Presentations Mar 19 - Marketing Plan Presentations - Team Presentations - Final Project Due / Evals Mar 22 Final Exam Graduate School of Management, UC Davis Mgmt 140 Project Teams Group Number Group Member Name 1 Erik Babb Samantha Leung Tony Tang Justin Nuckles 2 3 4 5 Count 1 2 3 4 Daniel Kim Felicia Lau Karthikram Rajadurai Kunal Patel Sunil Sundaresan 1 2 3 4 5 Phounsouk Phavongxai Heidi Kyaw Sovanna Pin Uyen Le Haley Zhao 1 2 3 4 5 Courtney Chason Anissa Liu Zhuoyao Cheng Aksar Gopal Clarence Ho Shun Yu 1 2 3 4 5 6 Hasan Ghadialy Michael Norton Meenal Tambe Anthony Bickett Kimberly Song Group Number Group Member Name 6 Eddi Mariscal Omar Mohammed Kristin Bourne Anugeet Aujla Will Nicolay Lynn Kwan 1 2 3 4 5 Graduate School of Management, UC Davis Count 1 2 3 4 5 6 7 Tyler Anderson Sara Gray Brandon Shing Norman Vuong Jonathan Shu 1 2 3 4 5 8 Matthew Yuen Laura Huang Nicole Ann Le Carlos Reyes Jonathan Oakden Theodore Tsang 1 2 3 4 5 6 9 Rachel Gutmann Brian Dincau Faranak Razavi Asha Miles Jeremy Mattas 1 2 3 4 5 Term Project - Marketing Plan Overview You are now marketing consultants You will select a client company / product / service Using the marketing concepts learned in this course, you will then develop a marketing plan for your client In-Class Presentation Deliver an 8-10 minute PowerPoint presentation of your marketing plan. Each team member MUST present a section of the plan Written Proposal The final plan should be 8 -10 pages, one side, 1 inch margins, and 12 point font. In addition, include an appendix that should include marketing research materials, promotional materials that you create, or financial information, provided you cite and use them in the text of the marketing plan. Grading Both your In-Class presentation and written proposal will be used to determine your final project grade Peer Groups will Force Order your presentation and that will be used in determining a percentage of your grade. Each student on the team will complete a final evaluation in which you will score the contributions of each of your team members. This will be determine a large percentage of your participation grade for the quarter. Graduate School of Management, UC Davis Term Project - Marketing Plan Key Elements of the Marketing Plan Overview Company background / size of company / size of market / market trends Customer Research Customer Segmentation Model Target Audience and key attributes Competition Competitive analysis SWOT Analysis Problem Statement (what problem are you trying to solve) In the context of the four Ps. Should be validated by your research Marketing Objectives The end state / objectives you are trying to accomplish Marketing Strategy The overarching, coordinated set of plans to achieve your objectives Marketing Tactics Identify and discuss the elements of your recommended Marketing Mix / 4 Ps Marketing Campaign Milestones / timelines Success metrics Graduate School of Management, UC Davis Previous Clients BMW Pizza Hut Plastic Logic E-Reader Google Phone Yogurt Shack LiveScribe Campus Cred Dairy Queen Apartment Housing Sony Symantec The Inconvenience Story Graduate School of Management, UC Davis Betty Crocker AMD Subway ASUS Heineken Kindle Vizio TV Google TV Grocery Smart App Microsoft Quiznos Samsung Market Research Project Purpose / Lesson Understand who your customers are (and are not) Understand why they buy and why they dont Identify key customer segments Identify a target segment Identify target segment characteristics / attributes Identify the overall marketing problem you will address with your marketing plan What Youll Need To Do Conduct an Informal Focus Group Conduct a small focus group with 8-10 customers that match your target audience Conduct a Formal Survey (more details during the discussion) Create, Test, Execute a survey with your target audience Research Report (due February 13th) 3-5 page analysis of key findings from your research Graduate School of Management, UC Davis Market Research Project Final Research Report Must Include: Minimum of five key demographic characteristics of your primary target audience Minimum of five key psychographic characteristics of your primary target audience A Customer Segmentation model including names and personas for each of the segments Clear articulation of your primary target audience and WHY they are the focus of your marketing plan The top marketing problems that youve identified from your research In the appendix Copy of your focus group questions and summary of results Copy of your survey questions and summary of results Graduate School of Management, UC Davis Homework Assignment: Marketing Proposal One Per Team Include Names of All Team Members Whats Due Name Of Company, Product Or Service Be specific. Cleary describe product / service One paragraph overview on company Assignment is Due at Beginning of Class on Jan 30th Graduate School of Management, UC Davis Learning Objectives Consumer Behavior How decisions are made What influences purchase decisions Segmentation What is it? How to do it? Target Market / Target Audience Mapping Graduate School of Management, UC Davis Conceptual View of the Marketing Process Marketing Analysis (The 5 Cs) Customers Company Market Segmentation Competitors Collaborators Target Market Selection Context Product and Service Positioning Create Value Marketing Mix The 4 Ps Product Place Promotion Pricing Customer Acquisition Customer Retention Profits Graduate School of Management, UC Davis Source: Note on Marketing Strategy Simple Segmentation Process 1. 2. 3. Consumers Segmentation Target Market Segment Consumers Into Groups Based on Segmentation Variables Market to The Most Win Desirable Market Segments Identifiable Purchase Behaviors Understand Why and How Consumers Make Decisions Identify Traits and Behaviors that Drive Different Purchase Behaviors Graduate School of Management, UC Davis Select Your Target Audience from Your Identified Segments 1. Consumers Identifiable Purchase Behaviors Understand Why and How Consumers Make Decisions Graduate School of Management, UC Davis Understanding Consumer Behavior Your Purchase There Are DNeeds And ecisions Are Impacted by There Are Basic Needs Wants Graduate School of Management, UC Davis Need Vs. Want Need Food Shelter Transport Graduate School of Management, UC Davis Want How Do You Decide What Products To Buy? Conscious / Logical Influence Price Features Subconscious Influence Associative Emotive Higher Investment / Permanency = Higher Cognitive Involvement Graduate School of Management, UC Davis Subconscious Influence Associative Trek Bikes Nordstrom Target Harley Davidson Associates Products With Personal Esteem / Self View Graduate School of Management, UC Davis Diamonds Subconscious Influence Emotive Corona Lynx Body Wash AT&T eTrade Carls Jr Placement Designed to Attach The Graduate School of Management, UC Davis Emotion to The Product Does This Stuff Really Work? Lets Give it a Try Graduate School of Management, UC Davis 2. Segmentation Segment Consumers Into Groups Based on Segmentation Variables Identify Traits and Behaviors that Drive Different Purchase Behaviors Graduate School of Management, UC Davis Segmentation Why Segment? Break mass markets into segments that have unique and identifiable buying habits Align marketing mix / strategy with right audience Helps focus messaging and campaigns on the key benefit for that segment / target audience Help create better marketing focus / specialization Emerging markets focus vs. mature market Small Biz users vs. Big Biz users First time buyers vs. repeat buyers Results in differentiated product / promotional offerings Diet Coke vs. Coke; Crest Tatar control / Whitening / Sensitive Teeth Buy-get / Try and Buy / Bring a Friend Graduate School of Management, UC Davis Market Segment Variables Demographic: Age, family size, family life cycle, gender, income, occupation, education, religion, race, generation, nationality, social class Psychographic: Attributes related to lifestyle, personality, attitudes, values Behavioral Variables: Benefits do I need it or want it? User status how does this make me feel? Usage rate gasoline at 35 mpg vs 10 mpg Loyalty status frequent flyer programs Buyer readiness - where are they in the purchase cycle Attitude toward product eco friendly? Healthy? Graduate School of Management, UC Davis 3. Target Market Market to Win the Most Desirable Market Segments Select Your Target Audience from Your Identified Segments Graduate School of Management, UC Davis Segmentation Examples HP Networking Marriot Hotels Graduate School of Management, UC Davis Indirect Distribution Model for HP Hewlett Packard Big Box Retailer Distributor Ingram Micro Reseller Reseller Reseller Graduate School of Management, UC Davis Customers B2B: Business to Business Customers Customers Customers Customers Customers Customers Customers Customers Customers Customers Customers Customers Customers B2C: Consumer Distributor Tech Data Reseller Segmentation Matrix Mobility Capability vs. Sales Activity Believers Selling NotCapable Loners Areexpertorhighlyskilledwith product,technicalfeatures, service,andsupportcapabilities. Arehighlyengagedinthesales ofPNBmobilitysolutions. Skeptics Not Selling Areexpertorhighlyskilledwith product,technical,service,and supportcapabilities.Areloyalto competitorandareeither unawareofPNBproductoffering orarenonbelievers. Lackformaltrainingontechnical features,supportandservice requirements.Sellingasaddon associatedwithotherproduct salesorsolutionfocusarea (FrenchFrysale). Laggards Lackformaltrainingontechnical features,supportandservice requirements.Notactively engagedinthesalesofmobility solutionsandmayormaynotbe interestedinsellingit. PartnerCapability Graduate School of Management, UC Davis SalesActivity Capable Reseller Segmentation Matrix Mobility Capability vs. Sales Activity Believers Selling NotCapable Loners PrimaryPartner Audience Skeptics Not Selling Secondary Partner Audience TertiaryPartner Audience Laggards TertiaryPartner Audience PartnerCapability Graduate School of Management, UC Davis SalesActivity Capable Marriott Hotels Graduate School of Management, UC Davis What Did Marriott Do Right? Extended Brand and Maintained or Improved Brand Value Successfully extended the Marriott brand into new segments Listened to Their Customers and Found New Market Segments Successfully identified previously untapped market segments Expanded Their Portfolio Offering Identified holes in their product mix and purchased where necessary Developed Specific and Deliberate Positioning Marketing messages that appeal to each segment (dont over promise) Leveraged Their Core Competencies Continued to promote & provide consistent, high quality service to customers Graduate School of Management, UC Davis Now What? We Understand Consumer / Buyer Behavior Weve Segmented Our Market / Customers Weve Identified Discreet Target Audiences We Now Need to Market to Our Target Audience In Other Words: We Need to Create and Capture Value Graduate School of Management, UC Davis How Do We Do That? Develop a Market Strategy Differentiation? Low cost leader? Copy cat? Develop a Segment Marketing Plan Pricing Strategy Product Strategy Promotional Strategy Place / Distribution Strategy Build Your Position / Messaging Understand the pain points for each target segment Understand the Value Proposition your product or service provides Develop positioning / messaging that maps your value prop to the target audiences pain points Graduate School of Management, UC Davis Summary 1. 2. 3. Consumers Segmentation Target Market Segment Consumers Into Groups Based on Segmentation Variables Market to Win The Most Desirable Market Segments Identifiable Purchase Behaviors Understand Why and How Consumers Make Decisions Identify Traits and Behaviors that Drive Different Purchase Behaviors Graduate School of Management, UC Davis Select Your Target Audience from Your Identified Segments Summary Consumer Behavior Understanding buying behavior is critical first step Segmentation Group customers into discreet segments Allows focused marketing effort Positioning The messages you use to reach your market segment Graduate School of Management, UC Davis Next Section Applying what weve learned Video: Not By Jeans Alone Target Audience Research Four Ps In Class Assignment Graduate School of Management, UC Davis Back Up Graduate School of Management, UC Davis Types of Differentiation Vertical (Quality) Differentiation is based on needs or product characteristics about which there is general agreement on desirability Gas mileage Power / acceleration Quality / durability Horizontal (Variety) Differentiation is based on needs or product characteristics about which there is no general agreement on desirability Color Style / Design Graduate School of Management, UC Davis Product Positioning Strategy A successful strategy can result from identifying and then claiming (owning) a key dimension that is important to a customer segment, but is not emphasized by competitors. By creating points of differentiation across those dimensions, businesses can reduce price competition and increases profitability. Successful positioning occurs when a brand is positioned to be very close to the ideal point /dimension of a segment. Graduate School of Management, UC Davis

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