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Chapter 7: Customer-Driven marketing strategy: Creating Value for Target…
Chapter 7: Customer-Driven marketing strategy: Creating Value for Target customers
Marketing Segmentation
Segmenting consumer markets
Geographic
Demographic
Psychographic
Behavioral
Occasion
Benefits sought
User status
Usage rate
Loyalty status
Age and life -cycle
Gender
Income
Segmenting business markets
Business can also be segmented
Customer- operating characteristics
Purchasing approaches
Situational factors
Personal characteristics
Segmenting international markets
Geographic location
Economic factors
Political and legal factors
Cultural factors
Segmenting international markets
Requirements for effective segmentation
Measurable
Accessible
Substantial
Differentiable
Actionable
Requirements for Effective Segmentation
Measurable
Accessible
Substantial
Differentiable
Actionable
Marketing Target
Evaluating market segments
Segment size and growth
Sement structural attractiveness
Company objectives and resources
Selecting target market segments
Undifferentiated marketing
mass marketing
Focuses on common needs
Differentiated marketing
Concentrated marketing
Limited company resources
Knowledge of the market
More effective and eficient
Micromarketing
local marketing
individual marketing
Local marketing
Cities
Neighborhoods
Stores
Individual marketing
One- to- one marketing
Mass customization
Markets of one marketing
Target marketing strategies
Undifferentiated marketing
Choosing a targeting strategy
company resources
Product variability
Product life- cycle stage
Market variability
Competitor's marketing strategies
Socially responsible target marketing
Benefits customers
Vulnerable segments
Children
Alcohol
Cigarettes
Differentiation and Positioning
Selecting an Overall strategy
Value proposition
Choosing a differentiation and positioning strategy
product differentiation
Service differentiation
Channels
People
Image
Identifying possible value differences and competitive advantage
competitive advantage
Selecting an Overall strategy
Value proposition
More for more
More for the same
Same for les
Less for much less
More forr less
Chossing the right competitive advantages
Important
Distinctive
Superior
Communicable
Preemptive
Affordable
Positioning for competitive advantage
Developing a positioning statement
Positioning statement