Intro marketing C6-7 - SEGMENTATION TARGETING AND...

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SEGMENTATION, TARGETING, AND POSITIONING
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Announcements BRING YOUR COMPUTER ON THURSDAY– we will start the simulation! Speaking of…everyone purchased it? Exam #1 is Thursday, 2/9 Marketing research still going okay?
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Dunkin Donuts v. Starbucks
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You can’t please everyone Strategies that build the right relationships with the right customers. Rather than appeal to the “mass” market, marketers can focus their efforts on specific groups of people. Good for more specific products Good strategy for tailoring the four Ps for more general products
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Segmentation (examining who is out there) Targeting (deciding which segments we will cater to) Differentiation (what’s special about how we create value) Positioning (clearly defining how we fit in the marketplace) Creating value for target customers in a targeted way
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Market segmentation Dividing a market into distinct groups of buyers who have different needs, interests, characteristics, or behaviors. Can segment: consumer markets, business markets, or international markets
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Segmenting consumer markets Geographic segmentation: dividing consumer markets into nations, regions, states, counties, cities…
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Segmenting consumer markets Demographic segmentation: dividing market based on age, gender, income, occupation, education, religion, ethnicity… Must be careful to avoid stereotyping
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Segmenting consumer markets Psychographic segmentation: based on lifestyle, social, or personality characteristics Urban Outfitters Anthropologie BHLDN
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Segmenting consumer markets Behavioral segmentation: based on knowledge of, uses for, or responses concerning a product Segments according to behavior as relevant to the product.
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