Week5 - Segmentation,Targeting,Positioning Week5&6...

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Segmentation, Targeting, Positioning Week 5 & 6 Professor Weon Sang YOO School of Business
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Segmentation, Targeting, Positioning Principles of Marketing Prof. Weon Sang YOO 2 - Segmentation - Bases (Criteria) - Methods - Targeting - Positioning Week 5 & 6: STP Strategy
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Segmentation, Targeting, Positioning Principles of Marketing Prof. Weon Sang YOO SEGMENTATION, TARGETING, POSITIONING ARE … Needed because of increasing customer sophistication tougher competition e.g., Soap, Shampoo, Breakfast Cereal (2% market share is significant) Facilitated by customer data capture and management technology data mining tools mass customization technology which reduces the cost of tailoring media which allow individual addressability
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Segmentation, Targeting, Positioning Principles of Marketing Prof. Weon Sang YOO 4 Steps in Segmentation, Targeting, and Positioning 1. Identify segmentation variables 2. Develop profiles of resulting Segments 3. Evaluate attractiveness of each Segment 4. Select the target segment(s) 5. Identify possible positioning concepts for each target Segment 6. Select, develop, and communicate the chosen positioning Concept SEGMENTATION Targeting Positioning
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Segmentation, Targeting, Positioning Principles of Marketing Prof. Weon Sang YOO 5 Segmentation Examples Citi ® Platinum Select ® AAdvantage ® World MasterCard ® 7,500 bonus miles* $85 annual fee* One AAdvantage mile for every dollar spent on purchases (up to 100,000 miles every year)* No blackout dates on American Airlines ® and American Eagle ® award travel* No pre-set spending limit* Redeem AAdvantage miles with over 100 airlines, hotel and car rental partners 24-hour personal Concierge service with Internet access Citi ® Diamond Preferred Card 0% APR on balance transfers for 12 months with no balance transfer fee.* No annual fee No fee rewards program* $0 liability for unauthorized purchases Citi ® Gold AAdvantage ® World MasterCard ® 5,000 bonus miles* $50 annual fee* One AAdvantage ® mile for every dollar spent on purchases (up to 60,000 miles every year)* No blackout dates on American Airlines ® and American Eagle ® award travel* No pre-set spending limit* Redeem AAdvantage miles with over 100 airlines, hotel and car rental partners Citi ® Dividend Platinum Select ® Card 0% APR on balance transfers for 12 months with no balance transfer fee.* No annual fee Earn cash back on all eligible purchases* $0 liability for unauthorized purchases
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Segmentation, Targeting, Positioning Principles of Marketing Prof. Weon Sang YOO 6 Market segmentation A useful segmentation process must meet five conditions: Measurable ( ¸ 4 ¼ ª * ) · The characteristics used to categorize customers must be measurable and the data obtainable.
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This note was uploaded on 09/18/2010 for the course BUSS 205 taught by Professor Yooweonsang during the Fall '10 term at Korea University.

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Week5 - Segmentation,Targeting,Positioning Week5&6...

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