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Week3: Customer-driven marketing strategies. (created value for targeted…
Week3: Customer-driven marketing strategies.
(created value for targeted customer)
DIFFERENTIATION
(differentiate market offering to create superior customer value)
Choosing the right competitive advantages
important
distinctive (competiors can not offer)
superior
pre-emptive (no easy to copy)
communicable and visible
affordable
profitable
Selecting an Overall Positioning Strategy
(value propositioning)
Identifying possible value differences and competitive advantages
product
channel
people
image
service
POSITIONING
(position the market offering in the minds of target customer)
perceptual positioning map
shows customer perception on their brand vs competitors on important dimensions
Help marketers to identify the gaps
TARGETING (select the segment or segment to enter)
differentiated (segmented) marketing (221)
capture more market share
increase the cost of doing business
Concentrated (niche) marketing (222)
efficiently
highly profitable but higher risk
Undifferentiated (mass) marketing(221)
focus on what is common
hard to compare with focused firms
Micro-marketing (local or individual marketing)
Focus on specific individual and location
Local marketing
drive up marketing and manufacturing costs
logistic problems (try to meet varied requirements of different locals
dulited image if product and message vary too much in different localties
to market effectively in the face of pronounced regional and local differences in demo and lifestyle
individual marketing
provide the way to stand out
tightening relationship with customers
VALUE PROPOSITION (Differentiation and positioning)
More B less P
Same B less P
Less B for much less P
More B same P
More B more P
1. SEGMENTATION (Divide the total market into smaller segmentation)
Demographic segmentation (209)
divides the market into groups based on variables such as age, gender, family size, family life cycle, income, occupation, education, religion, race, generation, and nationality.
Demographic characteristics (210)
Age and life-cycle stage (210)
Gender (Nike) (211)
should be careful with sterotype
Income(211)
The most popular bases for segmenting customer group.
Because:
Needs,wants and usage rates vary closely with demographic variables
Demographic variables are the easiet factor to measure
Psychographic segmentation (212)
Psychographic segmentation divides buyers into different groups based on social class, lifestyle, or personality characteristics.
behavourial segmentation
Behavioural segmentation divides buyers into groups based on their knowledge, attitudes, uses, or responses to a product.
Ocasion
when they buy or consume products
ex: Valentine, mother day,..
benefit sought
different customer seek for different benefits in the same item
user status
non-users, ex-users, potential users, first time users, etc.
have to convert non-user to new user
potential users: facing life-stage changes
usage rate
light, medium and heavy
loyalty status
3 levels of loyal customer.
Understand the completelyloyal customers' wants
Detect competitors from less loyal cus.
Learn abt marketing weekness.
Geographic segmentation(208)
Defination: a business divides its market on the basis of geography (208)
Requirements for effective segmentation
substantial (Lượng khách hàng đủ lớn)
accessible (có khả năng tiếp cận khách hàng)
differentiable (có sự khác biệt giữa các thị trường)
Measurable (đo lường được)
actionable (nguồn nhân lực đủ lớn)
CHOOSING TARGETING STRATEGY
(225)
company resouces
market variability
product variability
competitor's marketing strategy
product's life-cycle stage
example
By city, county, state, region, country, or international region.
By rural, suburban, and urban market segments.
By climate or total population in each area.
Evaluating market segment
(before targeting market)
Market size and growth
company objectives and sources
should offers superior and gain advantages over competitor
Segment structural attractiveness
competitors
power of buyers
Step2
step 3
Step 4
step 1