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tanner-ppt-ch05 - Chapter5 Chapter5...

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by Jeff Tanner and Mary Anne Raymond by Jeff Tanner and Mary Anne Raymond Principles of Marketing
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Chapter 5 Chapter 5 Market Segmenting, Targeting,  Market Segmenting, Targeting,  and Positioning and Positioning   © 2010 Flat World Knowledge, Inc.
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© 2010 Flat World Knowledge, Inc. 3
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Learning Objectives Learning Objectives © 2010 Flat World Knowledge, Inc. 4 1. Distinguish between targeted marketing and mass  marketing and explain what led to the rise of each. 2. Describe how targeted marketing can benefit  firms. 3. Explain why companies differentiate among their  customers.
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© 2010 Flat World Knowledge, Inc. 5 Targeted marketing —selecting a group(s) of consumers for marketing 1.A relatively new phenomena 2.A rifle approach vs. Mass marketing —selling the same product to all consumers 1.Came first 2.Evolved with mass production 3.A shotgun approach Mass vs. Targeted Marketing Mass vs. Targeted Marketing
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Benefits in Segmenting and Targeting Benefits in Segmenting and Targeting © 2010 Flat World Knowledge, Inc. 6
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© 2010 Flat World Knowledge, Inc. 7 Targeting Markets Targeting Markets
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© 2010 Flat World Knowledge, Inc. 8 Targeting Markets Targeting Markets
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Segment and Target Existing Customers Segment and Target Existing Customers © 2010 Flat World Knowledge, Inc. 9 Finding new customers is more expensive than keeping existing ones!  Changing vendors can be a hassle for customers, too.  Both parties can benefit by a continued relationship . Economic downturns make it hard to find new customers.  Focusing on current customers is required.  Social networking sites are being followed by providers of products. Not all customers are equal.  Often it is found that 20% of the customers account for 80% of sales or profits.
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