strat comm final review notes

strat comm final review notes - Audience Analysis...

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Audience Analysis 20/12/2007 12:17:00 Segmenting  – grouping customers or prospects according to common characteristics,  needs, wants, or desires Segmenting based on profitability: o Analyze size – is each segment large enough to generate enough revenue to  cost-justify a customized marketing effort? o Classify by spending patterns Unprofitable-Marginally Profitable Low-Volume/High Volume Profitable Low-Volume/High Volume Analyze prospects’ potential for growth Maintain good relationship w/ High-Volume customers by awarding  them for brand loyalty RFM segmenting o Recency, Frequency, Monetary o For current and prospective customers o Analysis is based on prospect’s total product category purchases Similar people respond to similar messages Profiling o 1. Behavior (usage/benefits) Behavioral Segmenting      -  segmenting based on product usage and  product-related behavior Heavy users, Medium users, Light users, nonusers Cross-selling  –  using the sale of one product to promote the  sale of related products
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Up-selling  –  encouraging customers to buy a more expensive  product than they had in mind Benefit Segmenting      –  segmenting a market according to the benefits  customers seek as the result of using a brand o 2. Demographics  –  definable statistical measures such as   age, gender, ethnicity, education, income, occupation, geography,  family size, family life stage, residence, religion, nationality o 3. Psychographics –  measures that classify customers in terms of their  attitudes, interests, and opinions as well as their lifestyle activities o 4. Level of brand relationship Targeting  – analyzing, evaluating, and prioritizing the market segments deemed most  profitable to pursue Allows companies to focus their mark. comm.  efforts on segments that promise the  greatest potential return on investment (ROI) Niche Markets  – defined by a distinct commonality shared by those making up a  segment Smaller than mass markets, but still include millions of customers Fishing   deep sea fishing=subsegment (niche) Mass Customization of products  – manufacturing process that is programmed to  choose ingredients/parts to produce custom-designed goods. Accomplished through CAD/CAM Primary audiences  Include key decision-makers and others whose support you need to carry out your  project Secondary audiences
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Include those who will be affected by your project and who, over the long term, may  have some influence on the decision-makers Hidden audiences Include those who may not be in the group you’re addressing or on the receiving end 
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strat comm final review notes - Audience Analysis...

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