BUAD307_L5_STP(1)

BUAD307_L5_STP(1) - Segmentation, Targeting &...

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Unformatted text preview: Segmentation, Targeting & Positioning (I) Yi Zhu BUAD 307 06/06/2011 1 The Story so Far What is Marketing and why we do we want to study it? Marketing Environment Consumer Behavior Understand (Evaluate Situation) Plan (Determine a Strategy) Segmentation Targeting Positioning 2 Consumer Decision-Making Process Postpurchase Behavior Purchase Evaluation of Alternatives Information Search Need Recognition Cultural, Social, Individual and Psychological Factors affect all steps 3 Marketing Planning Process Identify Problem Analyze Environment Analyze Consumer Segment Market Choose Target Develop Strategy Product Price Place Promo PESTN Competition Position Product Identify Objective Analyze Environment Analyze Consumer Segment Market Choose Target Product Price Place Promo SWOT Competition Position Product 4 A Market Is... 1) people or organizations with 2) needs or wants, and with 3) the ability and 4) the willingness to buy. A group of people that lacks any one of these characteristics is not a market. 5 An easy way to remember S egmentation is about identifying T argeting is about selecting P ositioning is about differentiating and communicating Aggregating prospective buyers into groups that: 1) have common needs and 2) respond similarly to marketing actions Selecting the segment(s) to serve The placement within a segment the product /service occupies What is the benefit of STP? 6 Market Segmentation 7 Market Segmentation Agenda What is segmentation? Why is segmentation important for marketing? How is segmentation done in practice? What tools do marketers use to identify segments? 8 Market Segmentation Market Market Segment Market Segmentation People or organizations with needs or wants and the ability and willingness to buy. A subgroup of people or organizations sharing one or more characteristics that cause them to have similar product needs. The process of dividing a market into meaningful, relatively similar, identifiable segments or groups. 9 Market Segment Consumers who share similar characteristics that cause them to have similar needs....
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This note was uploaded on 11/01/2011 for the course BUAD 307 taught by Professor Morristowns during the Summer '07 term at USC.

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BUAD307_L5_STP(1) - Segmentation, Targeting &...

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