Chapter 9.class.discussion.notes

Chapter 9.class.discussion.notes - Chapter 9: Segmentation,...

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Chapter 9: Segmentation, Targeting & Positioning Objectives: To Learn - What ‘segmentation’ is and why it is so important? More about the various ‘bases and factors’ that can be used by marketing firms to execute market segmentation. How marketing firms should determine whether they have identified useful and practical ‘market segments.’ What ‘target marketing’ is, how the target marketing process is executed, and the various ‘target marketing strategies’ that are available. What ‘positioning’ is, the various ‘positioning tactics’ that are available How segmentation, target marketing and positioning processes ought to fit together in a logical and strategically sound fashion. Imagine, if you will, that you are at a dessert bar in big Casino restaurant. So many choices … The age of shotgun marketing is has ended. Comparing the Democratic and Republican parties – Their respective Segmentation, targeting and positioning strategies. o Which segments do democrats/republicans target? o How does each party ‘position/attempt to differentiate’ its message/value proposition to its respective ‘targeted markets’? Topic I: Market Segmentation: Definition – Entails a process of division, from … Larger groupings of potential customers to smaller groupings of potential customers, More heterogonous to more homogenous groupings of potential customers, Huge masses of consumers who are less alike to smaller collections of consumers who are more alike. 1) Why Should Firms Engage in Market Segmentation? Firms: Should realize that they cannot successfully appeal to all consumers or all segments at the same time. The smart ones at least, should be rather choosey about those whom they seek to create lasting relationships with … o Some markets aren’t worth the cost o Some customers aren’t worth the hassle. 1
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Because there is no such thing as a “mass market” anymore? o Why not? 2) Please understand that there is no one single best way or one single base (or basis) from which larger markets can be segmented into smaller, more similar, more actionable segments. What’s a market? Marketers thus should try different segmentation variables, alone and in combination, to learn the best way to understand a given market’s structure and then segment that market. 3) Examples of variables/factors (that it to say, the bases) on which markets can and should be segmented include: a. Geography – nations, states, cities or even neighborhoods. A firm may elect to focus on only one geographic area, or emphasize one or two areas more than others. i. How and why does Geography influence consumer behavior/attitudes/lifestyles/preferences/etc? b.
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This note was uploaded on 03/12/2011 for the course MKTG 3650 taught by Professor Thompson during the Spring '08 term at North Texas.

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Chapter 9.class.discussion.notes - Chapter 9: Segmentation,...

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