Market Targeting or targeting evaluating each market segments attractiveness

Market targeting or targeting evaluating each market

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Market Targeting (or targeting) evaluating each market segment’s attractiveness and selecting one or more segments to enter. Market Positioning arranging for a product to occupy a clear, distinctive and desirable place relative to competing products in the minds of target consumers. Differentiation differentiating the market offering to create superior customer value Adopted from: Kotler P, Burton, S, Deans, K, Brown, L, Armstrong, G 2013, Marketing 9 th Edition, Chapter 9 Market Segmentation, Targeting and Positioning, pp244 274, Pearson Australia
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Designing a customer-driven marketing strategy Adopted from: Kotler P, Burton, S, Deans, K, Brown, L, Armstrong, G 2013, Marketing 9 th Edition, Chapter 9 Market Segmentation, Targeting and Positioning, pp244 274, Pearson Australia
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Market Segmentation Variables for Consumer Markets Geographic - Region - County Size - Density - Climate Demographic - Age - Gender - Family Size & FLC - Income - Occupation - Religion - Nationality Psychographic - Purchase occasion - Benefits sought - User Status & Usage Rate - Buyer Readiness stage - Loyalty Status - Online Behaviour - Attitudes towards product Behavioural - Socio-economic status - Values - Attitudes - Lifestyle Groups - Personality Adopted from: Kotler P, Burton, S, Deans, K, Brown, L, Armstrong, G 2012, Marketing 9 th Edition, Chapter 9 Market Segmentation, Targeting and Positioning, pp244 274, Pearson Australia
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Requirements for Effective Segmentation Measurable Accessible Substantial Differentiable Actionable Adopted from: Kotler P, Burton, S, Deans, K, Brown, L, Armstrong, G 2012, Marketing 9 th Edition, Chapter 9 Market Segmentation, Targeting and Positioning, pp244 274, Pearson Australia
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Older Consumer Segmentation Example Adopted from: Maison, D 2014, Values and Lifestyles Segmentation of Poles 55+ and its implications for consumer’s attitudes and behaviour , Management & Business Administration. Central Europe, Vol 22 issue 4, pp78-94, viewed 23rd of February 2016 from Ebscho Business Source Corporate Database
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Workshop Activity Let’s put our marketing thinking hats on! In this workshop activity, your group must investigate and analyse a product basis for segmentation. Form pairs or small groups and refer to the student handout. Your task is to: Select one product from the table provided in the handout. Using the table with examples per each of the variables, construct a table for the chosen product. Choose one person to share the progress of your investigation with the rest of the class. Please ensure that you do provide a brief overview of the product to your classmates.
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Roy Morgan Value Segment Adopted from: Chitty, W, Hughes, A, D’Alessandro, S 2012, Services Marketing, Oxford University Press
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