Mkt4007 10

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Information about Mkt4007 10

Published on December 14, 2007

Author: stephan

Source: slideshare.net

Segmenting, Targeting and Positioning

Market Segmentation The act of dividing a market into distinct groups of buyers who might require separate products and/or marketing mixes

Aims of Segmentation To achieve a better competitive position for an existing product/service To minimise cannibalisation To identify gaps in the market for new product and service opportunities To identify potential new buyers and users

To achieve a better competitive position for an existing product/service

To minimise cannibalisation

To identify gaps in the market for new product and service opportunities

To identify potential new buyers and users

Requirements for a segment Homogeneity within the segment Heterogeneity between segments S Substantial (more precisely: profitable) A Accessible (reachable by the tools) D Different (between seg. & in response to marketing tools) A Actionable (something to offer this segment) M Measurable (planning!)

Homogeneity within the segment

Heterogeneity between segments

S Substantial (more precisely: profitable)

A Accessible (reachable by the tools)

D Different (between seg. & in response to marketing tools)

A Actionable (something to offer this segment)

M Measurable (planning!)

Segmentation by Consumer Relationship to Product Benefit Segmentation Behavioural Segmentation Brand Usage Product Category Usage Level of Product Usage Shopping Behaviour Response Elasticity Price Elasticity

Benefit Segmentation

Behavioural Segmentation

Brand Usage

Product Category Usage

Level of Product Usage

Shopping Behaviour

Response Elasticity

Price Elasticity

Segmentation by Consumer Characteristics Geographic Demographic Age Income Socio-economic group Life cycle Psychographic Lifestyle Attitudes Personality

Geographic

Demographic

Age

Income

Socio-economic group

Life cycle

Psychographic

Lifestyle

Attitudes

Personality

Commercially Available Life stage Socio-Economic Class (Weberian, Warnerian, Fussell/National Readership Survey[UK]) ACORN (A Classification of Residential Neighborhoods - 56 classifications by CACI) Mosaic (61+ groups, Experian)

Life stage

Socio-Economic Class (Weberian, Warnerian, Fussell/National Readership Survey[UK])

ACORN (A Classification of Residential Neighborhoods - 56 classifications by CACI)

Mosaic (61+ groups, Experian)

NRS A upper middle class 3.4 % doctor, solicitor, barrister, accountant, director B middle class 21.6 % teacher, nurse, police officer C1 lower middle class 29.1 % low manager/ supervisors, student, office workers C2 skilled working class 21.0 % foreman, plumber, bricklayer D working class 16.2 % manual workers, shop worker E underclass 8.8 % casual laborers, pensioners, unemployed

A upper middle class 3.4 % doctor, solicitor, barrister, accountant, director

B middle class 21.6 % teacher, nurse, police officer

C1 lower middle class 29.1 % low manager/ supervisors, student, office workers

C2 skilled working class 21.0 % foreman, plumber, bricklayer

D working class 16.2 % manual workers, shop worker

E underclass 8.8 % casual laborers, pensioners, unemployed

A.I.O. Framework Male Lifestyle Self-made businessman 17% Devoted family man 17% Frustrated family worked 19% Successful professional 21% Retiring homebody 26%

Male Lifestyle

Self-made businessman 17%

Devoted family man 17%

Frustrated family worked 19%

Successful professional 21%

Retiring homebody 26%

Grouping women by attitude - Mueller-Heumann 1992 Self-aware ; concerned about fashion, appearance + exercise Fashion directed ; as above but not interested in exercise/sport Green Goddess : concerned about sport/exercise, not appearance Unconcerned ; neutral attitudes to all Conscience-striken ; too busy with family to be concerned with self-realisation issues Dowdies ; indifferent to fashion/ exercise and dress for comfort.

Self-aware ; concerned about fashion, appearance + exercise

Fashion directed ; as above but not interested in exercise/sport

Green Goddess : concerned about sport/exercise, not appearance

Unconcerned ; neutral attitudes to all

Conscience-striken ; too busy with family to be concerned with self-realisation issues

Dowdies ; indifferent to fashion/ exercise and dress for comfort.

Anything is possible really: Education Gender Race Sexual orientation Wealth / net-worth Political views Blue/White/Pink/Gold Collar

Education

Gender

Race

Sexual orientation

Wealth / net-worth

Political views

Blue/White/Pink/Gold Collar

More unusual segmentation techniques Left handed Order of Birth Birth sign more……?

Left handed

Order of Birth

Birth sign

more……?

Top-down vs Bottom-up Market Segments Total Market divided into segments segments derived from Single Consumer

Using a number of segmentation tools An airline is interested in attracting nonflyers (seg: relationship with product ). Nonflyers consist of those who fear flying, those who are indifferent, and those who are positive towards flying (seg: attitude ). Among those who feel positive are people with higher incomes who can afford to fly (seg: income ). The airline may decide to target higher-income people who have a positive attitude toward flying but simply have not flown .

An airline is interested in attracting nonflyers (seg: relationship with product ). Nonflyers consist of those who fear flying, those who are indifferent, and those who are positive towards flying (seg: attitude ). Among those who feel positive are people with higher incomes who can afford to fly (seg: income ). The airline may decide to target higher-income people who have a positive attitude toward flying but simply have not flown .

Targeting Product User

Porter Narrow Broad Uniqueness Cost Differentiation Strategy Cost Leadership Market Segmentation Core Competency Market Scope

Targeting Three Evaluation Factors Segment size and growth Segment structural attractiveness Organisational objectives and resources Definable Sizable Reachable Relevance

Three Evaluation Factors

Segment size and growth

Segment structural attractiveness

Organisational objectives and resources

Definable

Sizable

Reachable

Relevance

Positioning

Positioning Designing the company’s image and value offer so that the segment’s customers understand and appreciate what the company stands for in relation to its competitors

Designing the company’s image and value offer so that the segment’s customers understand and appreciate what the company stands for in relation to its competitors

Positioning Strategies Competitive Positioning Reference to competition Consumer Positioning Informational Image Message Use User Benefit Dissociation

Competitive Positioning

Reference to competition

Consumer Positioning

Informational

Image

Message

Use

User

Benefit

Dissociation

Map!

Map! Possible Area Impossible position New Position Competitor Area

Problems Underpositioning Overpositioning Confused positioning

Underpositioning

Overpositioning

Confused positioning

STP An art form to get it right Requires in-depth understanding of various consumer variables Time consuming but absolutely necessary MUST take account of future! Bad positioning will result in failure

An art form to get it right

Requires in-depth understanding of various consumer variables

Time consuming but absolutely necessary

MUST take account of future!

Bad positioning will result in failure

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