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MKT STRATEGY - Coggle Diagram
MKT STRATEGY
SEGMENTATION
Definition
Segmentation is the act of dividing the market into different from by using segment bases.
Segment bases
Geographical base
Psychological base
Behavior base
Demographical base
0-5: totally depend on parents
6-12: start to spend on toys, snacks -> influence parent's buying decision
13-18: edu, games, accessories,..
19-22: dating, hobbies, .. -> on a budget
22-30: married, first child, -> saving
30- 36:
37-42
occupation: white-collar, blue-collar
educational level:
race
TARGETING
definition
is choosing the right segment
is deciding how to serve the chosen segment
CHOOSE:
criteria for a good segment
differentiable: customer in one segment must share certain similarities and segment different from each other
measurable: company can estimate
the number of customers in target segment
spending limit
growth
substantial: segment big enough to generate benefit
accessible: company can approach target segment
DECIDING ( 3 STRATEGIES )
Undifferentiated
same MKT mix to all segments
Focus targeting strategy
1 niche market
Differentiated targeting strategy
company offers # MKT mix to # segments
POSITIONING
Definition
is to create and maintain an image of the brand inside customer's mind
IMAGE
service differentiation
people differentiation
1 outstanding employee
product differentiation
Sth better than about your product
price differentiation