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marketing chapter 35

marketing chapter 35 - Chapter 6 Segmentation Targeting and...

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Chapter 6 Segmentation, Targeting, and Positioning: Building the Right Relationships with the Right Customers Previewing the Concepts—Chapter Objectives 1. Define the three steps of target marketing: market segmentation, market targeting, and market positioning. 2. List and discuss the major bases for segmenting consumer and business markets. 3. Explain how companies identify attractive market segments and choose a target marketing strategy. 4. Discuss how companies position their products for maximum competitive advantage in the marketplace. J UST THE B ASICS Chapter Overview Market segmentation and target marketing are detailed in this chapter. An overview of consumer segmentation variables, including geographic, demographic, psychographic and behavioral characteristics is explained, as is the use of multiple segmentation bases. Business market segmentation and international market segmentation are also described. The importance and reasons for segmentation are portrayed through several examples of Segmentation outlines the company’s opportunities, but target marketing is where the marketing manager makes his or her money. Turning the segmentation opportunities into real markets is the focus of this part of the chapter. Methods of evaluating the market segments are discussed, as are the various levels of targeting: undifferentiated or mass marketing; differentiated marketing; concentrated marketing; and micromarketing. Choosing the target marketing strategy is described as dependent on many variables, such as company resources, how variable the product is, and the stage of the product life cycle. But while a company is targeting important segments, it must take care not to cause any controversy or concern. For instance, companies that have targeted their premium cereals primarily to children have been called to task for their practices, as have cigarette companies that seem to have targeted the youth market in their chosen advertising vehicles. Finally, a company has to figure out the best way to position itself for competitive advantage. Positioning involves implanting the brand’s unique benefits, and differentiation in customers’ minds. But how does the company do that effectively? This section of the chapter goes through the process of developing a positioning concept and 135
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statement, and describes the various ways to decide how to correctly position your product in the marketplace. Chapter Outline 1. Introduction a. Proctor & Gamble is one of the world’s premier consumer goods companies. They provide a good example of how smart marketers use segmentation, targeting, and positioning. b.
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marketing chapter 35 - Chapter 6 Segmentation Targeting and...

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