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mkt 3401 noteswap2 - Segmentation Marketing and Position...

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Unformatted text preview: Segmentation , Marketing , and Position • Marketing Analysis o Segmentation Criteria for segmentation • Identification o being able to locate a distinctive population that you can focus on • Substantialibility o Is it substantial enough to produce profits • Accessibility o Can the product get from production to the shelves? o Can you promote the product through some kind of communication? • Responsiveness Wal-mart example (targeting people) • Carry good brand names • Price sensitive o People with money who like deals • Value-priced shoppers o People with low incomes o Targeting 3 strategies • Undifferentiated o Mass marketing • Multi-segmented o Appeal to multiple groups • Niche marketing o Very concentrated scope o Positioning How a company places a product for consumers Mountain Dew • Started like every other soda, but then it became associated with extreme sports 3 factors of positioning (ABC’s) • Attributes • Benefits o Volvo Relied on safety to sell cars, then they emphasized sportiness and sales fell • Communication of value to the customers • Marketing Mix o Marketers use and manipulate these ideas 4 P’s • Product/service o Product life cycle Introduction • Initial entry of product into the market • Must consider pricing • Must also consider the type of promotion to run Growth • Formed a loyal customer base and word begins to spread about your product • As you gain popularity, does your pricing/promotion change? Maturity • The peak of popularity and the beginning of decline Decline • Product has become outdated or unnecessary • Some people continue to buy because it’s cheap • The life of the product can be extended o Technological improvements • Price o Must make it attractive to the consumer o Easiest to control o Change in price=change in target audience o The price change may affect the outlook of the product’s quality More expensive = better quality o Pricing objective Is your objective to have good market share?...
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This note was uploaded on 10/19/2011 for the course MKT 3401 taught by Professor Jaber during the Spring '08 term at LSU.

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mkt 3401 noteswap2 - Segmentation Marketing and Position...

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