Wk4 - Week 4 Chapter 3 Learning Objectives Understand the...

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Week 4 Chapter 3
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Learning Objectives Understand the value of segmentation Know the types of segmentation basis or dimensions. Explain how marketers evaluate and select target market segments . Understand how a firm develops and implements a positioning strategy
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Two Basic Premises in Marketing Competition You are NOT the ONLY smart marketer! Let’s find a consumer benefit, on which we can do better than our competitors! Customer heterogeneity No two customers are exactly the same! Let’s find a niche! How about those baby boomers?
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If your product: is completely unique, you have no competition, people need it to survive then market segmentation is a waste of time. Otherwise: Customer heterogeneity provides opportunities for profit How? S-T-P Why? To effectively differentiate product from competitors in the minds of some customers…
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To create a difference between a company’s offering and those of its competitors on a benefit important to some customers. Differentiate to avoid the competition
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Different customers want different benefits… Focus on customers who you can serve them better than your competitors Customers of food products who don’t like to cook. ..
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SEGMENT: A few questions arise… What bases, or dimensions, should we use to segment our potential market?
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Wk4 - Week 4 Chapter 3 Learning Objectives Understand the...

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