Ch. 8 Segmenting, Targeting, Positioning Student Version

Ch. 8 Segmenting, Targeting, Positioning Student Version -...

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© 2010 Robert H. Smith School of Business University of Maryland Chapter 8 Segmenting, Targeting, and Positioning Professor Whitney Fall 2010
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© 2010 Robert H. Smith School of Business University of Maryland The Marketing Process Situation Analysis Situation Analysis Customers, Company, Competitors, Collaborators, Context (PEST) Customers, Company, Competitors, Collaborators, Context (PEST) Situation Analysis Situation Analysis Customers, Company, Competitors, Collaborators, Context (PEST) Customers, Company, Competitors, Collaborators, Context (PEST) S S Segment the  Market T T Target Market Selection P P Position Product/Service Marketing Research Marketing Mix (4 P’s) Marketing Mix (4 P’s) Product/Service Product/Service Place/Channels Place/Channels Promotion Promotion Pricing Pricing Marketing Mix (4 P’s) Marketing Mix (4 P’s) Product/Service Product/Service Place/Channels Place/Channels Promotion Promotion Pricing Pricing Customer Acquisition & Retention (Satisfaction & Relationships) Profits
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© 2010 Robert H. Smith School of Business University of Maryland 3 The Concept of Market Segmentation Why is it important for marketers to segment?
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© 2010 Robert H. Smith School of Business University of Maryland Geography Demographics Psychographics Benefits Usage Rate Climate Geodemo- graphics Benefits sought Heavy • Region Market size Market density Age • Gender • Income Race/ethnicity Family life cycle • Personality Motives Lifestyle Former Potential • 1 st time • Light or irregular • Medium Bases for Segmenting Consumer Markets
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© 2010 Robert H. Smith School of Business University of Maryland Ethnic Segmentation Largest ethnic markets are: Hispanic Americans African Americans Asian Americans Will comprise 1/3 of U.S. population by 2010 with buying power of $1 trillion annually
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© 2010 Robert H. Smith School of Business University of Maryland Family Life Cycle Age Marital Status Children
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© 2010 Robert H. Smith School of Business University of Maryland 7 Family Life Cycle
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© 2010 Robert H. Smith School of Business University of Maryland Usage Segmentation Usage-Rate Segmentation Usage-Rate Segmentation Dividing a market by the amount of product bought or consumed.
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