Intro to Marketing_Herzenstein_Date_031710

Intro to Marketing_Herzenstein_Date_031710 - locations)...

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Go with Segmentation slides Value to target consumers State with customer then decide how to position our product Segmentation Why do we do it? - Because not all consumers have the same wants and needs and we want to sell to the group that is interested in your product - Heterogeneity in consumer preferences is the reason Majority Fallacy - Most people in the middle (more competition in the middle) - Companies think will have more profit in the middle but all companies think that so not really an advantage o Example: why should we use niche marketing Effective Segmentation - Just understand these, DON’T memorize! Newspaper article Super market in Austria—opened a store for the elderly but many also found it convenient and used it too Diet Coke Ad - Occasion Segmentation (morning) International Segmentation - Same picture but different writing - Do this because international market segmentation (very similar but in different
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Unformatted text preview: locations) Other International Segmentation-Calories are important in Israel but saving $ is more important in India so target these places based on what they find most important PC vs. Mac-Most important: demographic, income, psychographic Targeting Common Several Segments Majority of Smaller Segment Programs tailored to Individuals Positioning How you associate what people think of a product Positioning Maps (x) Orientation [luxury vs. performance] (y) Price (Other) Market Sharebubble size Mapping the Mind Dots- ideal points (where you would like to see it) Positioning Strategies None in red because less for less benefit or just no benefit Green has 5 strategies-More for More :Ritz-More for Same: Lexus-More for Less: Home Depot-Same for Less: Best Buy-Less for Less: Southwest...
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This note was uploaded on 08/30/2010 for the course BUAD 301 taught by Professor Mcnutt during the Spring '08 term at University of Delaware.

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Intro to Marketing_Herzenstein_Date_031710 - locations)...

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