Target Marketing Positioning for Competitive Advantage

STEPS IN SEGMENTING, TARGETING, POSITIONING Target Marketing  Evaluating Market Segments Segment size and growth Segment structural attractiveness Level of competition Substitute products Power of buyers Powerful suppliers Company objectives and resources Target Marketing: Selecting Target Market Segments TARGET MARKETINGTarget Marketing: Selecting Target Market Segments Undifferentiated marketing - targets the whole market with one offer.Mass marketing Focuses on common needs rather than what’s different Differentiated marketing - targets several different market segments and designs separate offers for each. Goal is to achieve higher...

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Marketing Segmentation

Creating Value for Targeted Customers 4 major steps Market Segmentation Market segmentation is the process that companies use to divide large heterogeneous markets into small markets that can be reached more efficiently and effectively with products and services that match their unique needs. Market Segmentation 4 Major Bases Geographical segmentation Marketing mixes are customized geographically Demographic segmentation Most popular segmentation Demographics are closely related to needs, wants and usage rates Psychographic segmentation Lifestyle, social class, and personality-based segmentation Behavioral segmentation Typically done first Consumer...

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MicroEnvironment

The MicroEnvironment consists of the actors close to the company that affect its ability to serve its customers, the company, suppliers, marketing intermediaries, customer markets, competitors, and publics. Microenvironment: The Company (adsbygoogle = window.adsbygoogle || []).push({}); Internal environment includes:Top managementFinanceR&DPurchasingOperationsAccounting  Microenvironment: Suppliers Provide the resources to produce goods and servicesTreated as partners to provide customer value  Microenvironment: Intermediaries Help the company to promote, sell, and distribute its products to final buyers. Include: Resellers Physical...

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MacroEnvironment

The macroenvironment consists of the larger societal forces that affect the microenvironment. Demographic Economic Natural Technological Political Cultural  Demographic Environment Demography is the study of human populations in terms of size, density, location, age, gender, race, occupation, and other statistics. Demographic environment is important because it involves people, and people make up markets. Demographic Environment: Changing Age Structure of the Population Generational marketing is important in segmenting people by lifestyle of life state instead of age. Baby boomers (1946 – 1964): Includes most affluent Asians Generation...

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Product/Market Expansion Grid

Product/Market Expansion Grid The product/market expansion grid is a tool for identifying company growth opportunities through market penetration, market development, product development, or diversification. Starbucks (adsbygoogle = window.adsbygoogle || []).push({}); Starbucks is an international coffee and coffeehouse chain based in Seattle, Washington, USA. Starbucks is the largest coffeehouse company in the world, with 16,120 stores in 49 countries, including around 11,000 in the United States, followed by nearly 1,000 in Canada and more than 800 in Japan. Starbucks sells drip brewed coffee, espresso-based hot drinks, other...

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