Segmenting by Benefits Sought • Focuses on the benefits people expect from using the product • Example: Starbucks customers want more than coffee; they want a pleasant experience that makes them feel appreciated
• Family life cycle — The process of family formation and dissolution • Life stage, not age, is primary concern of marketer Segmenting by Family Life Cycle Stages
What’s a potential problem with STP?
What if segments are very different from each other?
Questions What is a positioning strategy? and what are the reasons for positioning and repositioning products?
• Positioning provides the synergy among the 4Ps of the marketing plan • Good positioning reflects a competitive DIFFERENTIATION
Chapter Take Aways 1. Identify the essential components of a market. 2. Outline the role of market segmentation in developing a marketing strategy. 3. Describe the criteria necessary for effective segmentation. 4. Explain the geographic, demographic, and psychographic approaches to segmenting consumer markets. 5. Discuss the potential problems with STP, as well as solutions. 6. Explain the reasons for positioning and repositioning.
You've reached the end of your free preview.
Want to read all 29 pages?
- Spring '14
- Marketing, Effective Segmentation