Chapter 9

Chapter 9 - CHAPTER 9...

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CHAPTER 9 Marketing Segmentation, Targeting, and Positioning Principles of Marketing 1 Minneapolis Community and Technical College Instructor: Dave Skogstrom Office: Management Education Center, Room 1050 Phone: 612-659-6422 Email: www.dave.skogstrom@minneapolis.edu .
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Chapter Objectives Marketing Segmentation, Targeting, and Positioning CHAPTER    9 1 2 4 7 8 Identify the essential  components of a  market. Outline the role of  market segmentation in  developing a marketing  strategy. Describe the criteria  necessary for effective  segmentation. Explain the geographic,  domestic, and  psychographic  approaches to  segmenting consumer  markets. Describe product- related segmentation. Identify the steps in the  market segmentation  process. Discuss the four basic  strategies for reaching  target markets. Summarize the types of  positioning strategies,  and explain the  reasons for positioning  and repositioning  products. 5 3 6
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CHAPTER 9 Marketing Segmentation, Targeting, and Positioning You are the Marketing Manager (these are the same 7 questions that you’ll see on Exam 2 and 3) 1. What is your responsibility? 2. What are the steps in the marketing strategy? 3. What are the elements of the mix? 4. What do you control? 5. What don’t you control? 6. What are the elements of the marketing environment? 7. When something changes in the mktg environment, as the marketing manager, what do you do or how do you react?
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CHAPTER 9 Marketing Segmentation, Targeting, and Positioning Development of a successful marketing strategy begins with an understanding of your market. Market - Group of people with sufficient purchasing power, authority, and willingness to buy. • An individual’s lifestyle, income, geographic location, age, and other factors all contribute to the likelihood that person will buy certain products. Before a marketing mix strategy can be implemented, the marketer must identify, evaluate, and select a target market. Target market - Group of people to whom a firm decides to direct its marketing efforts and ultimately its goods and services. • Allows firms to develop more efficient and effective marketing strategies. • Marketers must study a market to segment and communicate with it effectively.
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Marketing Segmentation, Targeting, and Positioning TYPES OF MARKETS Consumer products Products bought by ultimate consumers for personal use. Business products Goods and services purchased for use either directly or indirectly in the production of other goods and services for resale. • A product can be either, depending on its use. • Example: Tires, which can be be purchased by consumers for the family car or by General Motors for its production line. • Example: Line of professional cookware for restaurants may be
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Chapter 9 - CHAPTER 9...

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