Session6_STP_students

Session6_STP_students - Session 6 STP Ch 8. Segmentation,...

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1 Session 6 STP Ch 8. Segmentation, Targeting and Positioning: Building the Right Relationships with the Right Customers Jooseop Lim Assistant Professor Department of Marketing John Molson School of Business Concordia University Comm 224 Marketing Management / Mark 201 Introduction to Marketing
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2 Agenda Introduction to STP Segmentation Market Segmentation Process Targeting Different market coverage strategies Positioning
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3 Overview of STP Mass marketing vs. Segmented marketing Segmentation: Process of dividing a large market into smaller ‘pieces’, or customer groups with similar needs and/or desires Targeting: The process of evaluating each market segment’s attractiveness and selecting one or more segments to serve Positioning: Arranging for a product to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers
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4 Market Segmentation Process 1. Identify Bases for Segmenting the Market (Consumer markets) Demographic Variables Age Gender Family size Family life cycle Income Occupation Education Religion Ethnic origin Generation Geographic Variables World region or country Region City size Density Climate Psychographic Variables Social Class Personality Lifestyle Behavioral Variables Occasions Benefits User status Usage rate Loyalty status Readiness state Attitude toward product Multivariate segmentation
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Market Segmentation Process 1. Identify Bases for Segmenting the Market Requirements for Effective Segmentation Size, purchasing power, profiles of segments can be measured. Segments must be large or profitable enough to serve. Segments must respond differently to different marketing mix elements & actions. Effective programs can be designed for attracting and serving the segments. Segments must be effectively
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Session6_STP_students - Session 6 STP Ch 8. Segmentation,...

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