kotcha07 - Chapter7 MarketSegmentation,Targeting,

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1      Chapter 7 Market Segmentation, Targeting,  and Positioning for Competitive  Advantage
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2 Steps in Market Segmentation,  Targeting, and Positioning (Fig. 7.1) Market Segmentation 1. Identify bases for      segmenting the market 2. Develop segment profiles Market Targeting 3. Develop measure of     segment attractiveness 4. Select target segments Market positioning 5. Develop positioning for      target segments 6. Develop a marketing     mix for each segment
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3 Step 1. Market Segmentation Levels of Market  Segmentation Through Market Segmentation, Companies Divide Large,  Heterogeneous Markets into Smaller Segments that Can be  Reached More Efficiently And Effectively With Products and  Services That Match Their Unique Needs. Mass Marketing Same product to all consumers  (no segmentation, i.e Coca-Cola) Segment Marketing Different products to one or more segments (some segmentation, i.e. Marriott)
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4 Niche Marketing Different products to subgroups within segments (more segmentation, i.e. Standard or Luxury SUV’s) Micromarketing Products to suit the tastes of individuals and locations   (complete segmentation) Step 1. Market Segmentation Levels of Market  Segmentation Local Marketing Tailoring brands/ promotions to  local customer groups, i.e Sears Individual Marketing Tailoring products and programs to  the needs of individual customers,  i.e. Dell
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5  Density or Climate City or Metro Size World Region or Country Step 1. Market Segmentation Geographic Segmentation
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6 Step 1. Market Segmentation Demographic Segmentation Dividing the market into groups  based on variables such as: Age Gender Family size or life cycle Income Occupation Education Religion Race Generation Nationality This video features an executive from Levi-Strauss speaking the necessity of segmentation to meet the needs of customers in all age groups. Click pic ture to play Click to retu
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7 Step 1. Market Segmentation Psychographic  Segmentation Divides Buyers Into Different Groups Based on: Lifestyle Segmentation Duck Head Targets a casual student lifestyle.
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This note was uploaded on 06/03/2011 for the course AED 402 taught by Professor Larson during the Spring '11 term at University of Florida.

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kotcha07 - Chapter7 MarketSegmentation,Targeting,

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