Kalan Lecture 12

Kalan Lecture 12 - Kalan Lecture 12 3/02/2011 Now that we...

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Kalan Lecture 12 3/02/2011 Now that we have segmented, we can begin targeting. A. 5 criteria for selecting a target market a. Differentiateable: Are the members of the segment similar to each other and different from the rest of the population. b. Measurable: Can we measure the size of it? Do we have the tools or ability to measure it? Is it worth is? c. Substantial: Once we measure it, is it large enough for our requirements? d. Accessible: Can marketing tools give us the ability to reach this group which we have identified? Can I deliver my marketing message to them cost effectively? e. Actionable: Can we as an organization actually satisfy the needs of that group? Do we have some competitive advantage over our competition that allows us to be reasonable in the market place. B. Segment profile: A description of a typical consumer. A typical consumer’s personality profile. a. Each individual consumer makes a purchase on person at a time. Marketing people can forget that sometimes. A persona helps you to focus back down. C. Targeting Strategy: a. 1: Undifferentiated: One strategy to a very broad spectrum of people i. Eg. Coke, McDonalds, full market coverage ii. A marketing program intended to give broad coverage, Wal-Mart is another example. b. 2. Differentiated: Developing one or more products for each of several customer groups and making sure these offerings are kept distinctly separate from the market place. i.
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This note was uploaded on 09/16/2011 for the course MARKETING 301 taught by Professor Yeniyurt during the Spring '08 term at Rutgers.

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Kalan Lecture 12 - Kalan Lecture 12 3/02/2011 Now that we...

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