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Chapter 5 Customer Value Driven Marketing Strategy:Creating Value for…
Chapter 5
Customer Value Driven Marketing Strategy:Creating Value for Target Customers
MARKET SEGMENTATION
Marketing segmentation
psychographic segmentation
geographical segmentation
demographic segmentation
gender segmentation
age and life cycle segmentation
income segmentation
behavioral segmentation
occasion
benefit sought
user status
loyalty status
usage rate
International segmentation
geographical location
economic factors
political and legal factors
cultural factors
Requirement for effective segmentation
measurable
accessible
substatntial
differential
actionable
MARKET TARGETING
undifferentiated marketing
mass marketing
focus on common need rather than what's different
differentiated marketing
concentrated marketing
micromarketing
local marketing
individual marketing
local marketing
cities
neigbourhoods
stores
individual marketing
DIFFERENTIATION AND POSITIONING
Definition
Product position:
show consumer perceptions of marketer's brands vs competing products on important buying dimensions
Positioning maps:
the way the product is defined by consumers on important attributes
competitive advantages
important
distintive
superior
communicable
preemptive
affordable
profitable
choosing a differentiation and positioning strategy
positioning statement
value proposition
CUSTOMER-DRIVEN MARKETING STRATEGY
segmentation
differntiation
targeting
positioning