06. STP (post) - I will know when our businesses are doing...

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Click to edit Master subtitle style 2/2/11 MKTg 301: principles of marketing Segmenting-Targeting-Positioning “I will know when our businesses are doing a good job of market segmentation when they can articulate to whom we should not sell.” Chuck Lillis CEO, MediaOne Group
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2/2/11 Exam #1
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2/2/11 Review: The Market A market is an aggregate of people who, as individuals or organizations, have needs for products in a product class and who have the ability, willingness, and authority to purchase such products. Two Main Markets: Consumer (B2C) Why they buy? Intend to consume or benefit, but not to make a profit.
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2/2/11 Why STP? Effective l Focus a business’s resources on opportunities that match its capabilities. l Fine-tune product offerings to provide better value to a group of customers with common needs. l Enhance understanding of competitor actions. Efficient
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2/2/11 STP Process {5B11A2B3-B9DA-4EAA-9DAD-E3C5127E0B3E} Strategy or Objectives {B0B642A8-1C60-491A-A1CA-C1DCE2166DD2} Evaluate Segment Attract {A7FEF25A-6CDE-4FF8-86D0-04A9EB437E82} Select Target Market {6A61F444-BB3B-4548-94B2-81563914F65E} Describe Segments {1FFC87E6-75FE-46E6-A434-F70AF45B86C5} Identify and Develop Positioning Strategy segmentation targeting positioning
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2/2/11 1. Establish Overall Strategy 1. Undifferentiated (Mass Marketing) Strategy l One Large Market; One General Offering 1.
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