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Chapter 7: Customer Value-Driven Marketing Strategy: Creating Value for…
Chapter 7: Customer Value-Driven Marketing Strategy: Creating Value for Customers
Market Segmentation
Segmenting consumer markets
Geographic
states
counties
nations
regions
cities
Demographic
gender
nationality
age
family life cycle
Psychographic
social class
personality traits.
lifestyle
Behavioral
Benefits sought
Occasion
divides buyers into groups
make purchases
get the idea to buy
respond to a product
User status
ex-users
potential users
first-time users
regular users
Usage rate
Loyalty status
Segmenting business markets
same segmentation variables as consumers
Personal characteristics
Accessible
Substantial
Differentiable
Actionable
Segmenting international markets
Political and legal factors
Geographic location
Economic factors
Culture factors
Requirements for effective segmentation
Marketing Target
Evaluating Market Segments
company objectives and resources
segment size and growth
segment structural attractivenes
Selecting target market segments
niche marketing
mass marketing
segmented
micromarketing
Choosing a Targeting Strategy
product life cycle stage
market variability
competitor's marketing strategies
company resources
product variability
Socially Responsible Target Marketing
Positioning for Competitive Advantage
Positioning statement= states the product’s membership in caterory and show its point of difference from memebers of the category
Differentiation and Positioning
Product position
Impressions
Feelings
Perceptions
Positioning maps
Choosing a Differentiation and Positioning Strategy
Identifying a set of possible competitive advantages
to build a position
Service differentiation
Channels
People
Product differentiation
Product position
Perceptions
Impressions
Feelings
Selecting an overall positioning strategy
Value proposition=full mix of benefits
More for more
More for the same
Same for less
Less for much less
More for less
Choosing the right competitive advantages
Important
Distinctive
Superior
Communicable
Preemptive
Affordable
Chapter 11: Pricing Product
Pricing Strategies
New Product Pricing Stategies
Market skimming
HIgh price skim revenue
Market penetration
Low intitial price in order to penetrate market quickly and deedly
Product mix strategies
Product pricing
Optional product pricing
Captive product pricing
By product pricing
Product bundle pricing
Price adjustment strategies
Discount and allowance pricing
Reduces prices to customer responses
Discount
Allowance
Segmented pricing
Sell product at two or more pricing
Customer segment pricing
Product from segment pricing
Location pricing
Psychological Pricing
Occur when sellers consider the psycholoical of prices
Promotional Pricing
When prices are temporaily priced below list price
Geographical Pricing
FOB orign pricing
Uniform delivered pricing
Zone pricing
Basing point pricing
Freight absorption
Dynamic pricing
Adjust prices continually to meet the characteristics and needs of customers
International pricing
Price are set in specific country based on country specific factor
Public Policy and Pricing
Pricing within channel levels
Price fixing: set prices without talking to competitors
Predator pricing: selling below cost
Pricing across channel levels
Deceptive pricing
Retail price maintenance