Lecture ch07

Lecture ch07 - Lecture Chapter 7 1 3/3/08 Lecture Notes...

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Lecture Chapter 7 3/3/08 Lecture Notes Textbook Chapter 7 (be able to draw “the means-end chain” [lecture chapter 8, slide 18] ) Segmentation , Targeting, and Positioning Segmentation Product positioning strategy Bases for segmentation Positioning Targeting Repositioning Segmentation – “Aggregating prospective buyers into groups that (1) have common needs and (2) will respond similarly to a marketing action.” Or “The process of dividing a market into meaningful, relatively similar, and identifiable segments or groups.” (Text, p. 97) Although not all these consumers are completely alike, they share relatively similar needs and wants. Marketing action involves: efforts, resources, and decisions--product, distribution, promotion, and price. Approaches to Marketing Undifferentiated Strategy (no intended difference from competitors; no specific consumer group sought out) Concentrated Strategy – differentiation; one consumer segment sought. (Southwest Airlines) Differentiated Strategy – same firm makes different versions for different segments. (Auto makers) Segments – Examples (1) Air Travel 1
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Lecture Chapter 7 Business/Executive : Inflexible; relatively price insensitive (Small number of people, but travel often) Leisure Traveler/Student : Relatively flexible; very price sensitive (other methods of travel--e.g., bus, car, train--are feasible; travel may not be essential) (Very large segment) Comfort Travelers : Comfort (e.g., space, food) important; willing to pay (Small segment) Segments – Examples (2) Combining Variables Soft drink preferences—some segmentation variables Preferred taste: Cola, lime, no taste, natural juice, ice tea
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Lecture ch07 - Lecture Chapter 7 1 3/3/08 Lecture Notes...

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