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Session II
Marketing Strategy I
Marketing Strategy
A goodmarketing strategyshould
be drawn from MarketResearch and
focus on the right product mix in order
to achieve the maximum profit
potential and sustain the business.
Marketing Strategy
S T
P D
Segmentation
Market segmentation
Dividing a market into
smaller
segments with distinct
needs,
characteristics, or
behavior
Segmentation
Geographic segmentation
Segmentation
Geographic Segmentation
Geographic
segmentation divides
the market into
different geographical
units such as nations,
regions, states,
counties, or cities
Segmentation
Demographic Segmentation
Demographic
segmentation divides
the market into groups
based on variables such as
age, gender, family size,
family life cycle, income,
occupation, education,
religion, race, generation,
Segmentation
Psycographic Segmentation
Psychographic segmentation
divides buyers into different groups
based on social class, lifestyle, or
personality traits
Segmentation
Behavioral Segmentation
Behavioral
segmentation divides
buyers into groups based
on their knowledge,
attitudes, uses, or
responses
to a product
Occasions
Benefits sought
User status
Usage rate
Segmentation
To be useful, market segments must
be:
Actionable
Differentiable
Substantial
Accessible
Measurable
Targeting
Target market consists of a set of buyers
who share common needs or
characteristics that the company decides
to serve
Targeting
Targeting
Undifferentiated Targeting
Undifferentiated
marketing targets the
whole market with one
offer
Mass marketing
Focuses on common needs
rather than whats
different
Targeting
Differentiated Targeting
Differentiated marketing
targets several different
market segments and
designs separate offers for
each
Goal is to achieve higher
sales and stronger position
More expensive than
undifferentiated marketing
Targeting
Concentrated Targeting
Concentrated
marketing
strategy which only
focused targeting
their products to
one or several
segments only
Targeting
Micromarceting Targeting
Micromarketing
is the practice of
tailoringproducts and
marketing programs to suit the
tastes of specific individuals
and locations
Local marketing
Individual marketing
Positioning
Product position is the way the product
is defined by consumers on important
attributesthe place the product
occupies in consumers minds relative to
competing products
Perceptions
Impressions
Feelings
Positioning
Example
Differentiation
Differentiation
Is set of
differences used
to differentiate a
product or brand
by competitors
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