Date post: | 23-Feb-2018 |
Category: |
Documents |
Upload: | karim-kobeissi |
View: | 215 times |
Download: | 0 times |
7/24/2019 Marketing for Engineers Ch 7
http://slidepdf.com/reader/full/marketing-for-engineers-ch-7 1/54
Marketing for Engineers
Dr. Karim Kobeissi
7/24/2019 Marketing for Engineers Ch 7
http://slidepdf.com/reader/full/marketing-for-engineers-ch-7 2/54
Chapter 7: Customer-Driven Marketing Strategy
- Creating Value for arget Customers
7/24/2019 Marketing for Engineers Ch 7
http://slidepdf.com/reader/full/marketing-for-engineers-ch-7 3/54
Introduction
This chapter looks further into key !ustomer-
"riven marketing strategy decisions: dividing
up markets into meaningful customer groups
(segmentation), choosing which customer
groups to serve (targeting), creating market
oferings that best serve targeted customers(diferentiation), and positioning the ofer ings
in the minds of consumers ( positioning).
7/24/2019 Marketing for Engineers Ch 7
http://slidepdf.com/reader/full/marketing-for-engineers-ch-7 4/54
# #$ositioning % S$: he Essen!e of
Strategi! Marketing
7/24/2019 Marketing for Engineers Ch 7
http://slidepdf.com/reader/full/marketing-for-engineers-ch-7 5/54
Market segmentation is the process
that companies use to divide large
heterogeneous markets into small
markets that can be reached more
eciently and eectively with
products and services that match
their unique needs.
arket !egmentation
7/24/2019 Marketing for Engineers Ch 7
http://slidepdf.com/reader/full/marketing-for-engineers-ch-7 6/54
7/24/2019 Marketing for Engineers Ch 7
http://slidepdf.com/reader/full/marketing-for-engineers-ch-7 7/54
• !egmenting "onsumer arkets
• !egmenting International arkets
• !egmenting #usiness arkets
• $equirements for %ective !egmentation
Market Segmentation
7/24/2019 Marketing for Engineers Ch 7
http://slidepdf.com/reader/full/marketing-for-engineers-ch-7 8/54
Market Segmentation
&eographi!segmentati
on
Demographi!
segmentation
$sy!hographi!segmentatio
n
'ehavioralsegmentati
on
Segmenting Consumer Markets
7/24/2019 Marketing for Engineers Ch 7
http://slidepdf.com/reader/full/marketing-for-engineers-ch-7 9/54
Market Segmentation
&eographi! segmentation divides the
market into dierent geographical unitssuch as nations& regions& states& counties&
or cities.
Segmenting Consumer Markets
7/24/2019 Marketing for Engineers Ch 7
http://slidepdf.com/reader/full/marketing-for-engineers-ch-7 10/54
7/24/2019 Marketing for Engineers Ch 7
http://slidepdf.com/reader/full/marketing-for-engineers-ch-7 11/54
Market Segmentation
Demographi! segmentation divides the
market into groups based on variables such as
age& gender& family si'e& family life cycle&
income& occupation& education& religion& race&
generation& and nationality.
Segmenting Consumer Markets
7/24/2019 Marketing for Engineers Ch 7
http://slidepdf.com/reader/full/marketing-for-engineers-ch-7 12/54
M ar ke t S e g m e n t a t i o n
- (ge an" life-!y!le stage segmentation is
the process of oering dierent products or
using dierent marketing approaches fordierent age and lifecycle groups.
- &en"er segmentation divides the market
based on se) (male or female*.
- )n!ome segmentation divides the market into
a+uent or lowincome consumers.
Segmenting Consumer Markets
7/24/2019 Marketing for Engineers Ch 7
http://slidepdf.com/reader/full/marketing-for-engineers-ch-7 13/54
7/24/2019 Marketing for Engineers Ch 7
http://slidepdf.com/reader/full/marketing-for-engineers-ch-7 14/54
7/24/2019 Marketing for Engineers Ch 7
http://slidepdf.com/reader/full/marketing-for-engineers-ch-7 15/54
Market Segmentation
$sy!hographi!
segmentation divides
buyers into dierent
groups based on social
class& lifestyle& or
personality traits.
Segmenting Consumer Markets
7/24/2019 Marketing for Engineers Ch 7
http://slidepdf.com/reader/full/marketing-for-engineers-ch-7 16/54
Market Segmentation
'ehavioral segmentation
divides buyers into groups based on their knowledge&
attitudes& uses& or responses to a product
• ,ccasions
• #ene-ts sought
• ser status
• sage rate
• /oyalty status
Segmenting Consumer Markets
7/24/2019 Marketing for Engineers Ch 7
http://slidepdf.com/reader/full/marketing-for-engineers-ch-7 17/54
7/24/2019 Marketing for Engineers Ch 7
http://slidepdf.com/reader/full/marketing-for-engineers-ch-7 18/54
7/24/2019 Marketing for Engineers Ch 7
http://slidepdf.com/reader/full/marketing-for-engineers-ch-7 19/54
7/24/2019 Marketing for Engineers Ch 7
http://slidepdf.com/reader/full/marketing-for-engineers-ch-7 20/54
arket !egmenta t ion
Multiple segmentation is used to identifysmaller& betterde-ned target groups.
sing ultiple !egmentation #ases
•
7/24/2019 Marketing for Engineers Ch 7
http://slidepdf.com/reader/full/marketing-for-engineers-ch-7 21/54
Market Segmentation
$*)+M ,E classi-es every0merican household into 11unique segments organi'edinto 23 dierent socialgroups.
• These groups segmentpeople and locations into
marketable groups of likeminded consumers thate)hibit uniquecharacteristics and buying
behavior based on amultitude of demo ra hic
sing Multiple Segmentation 'ases
7/24/2019 Marketing for Engineers Ch 7
http://slidepdf.com/reader/full/marketing-for-engineers-ch-7 22/54
k i
7/24/2019 Marketing for Engineers Ch 7
http://slidepdf.com/reader/full/marketing-for-engineers-ch-7 23/54
arke t !egmenta t i on
7/24/2019 Marketing for Engineers Ch 7
http://slidepdf.com/reader/full/marketing-for-engineers-ch-7 24/54
arket !egmenta t ion
- )ntermarket segmentation divides
consumers into groups with similar
needs and buying behaviors even
though they are located in dierentcountries.
!egmenting International arkets
7/24/2019 Marketing for Engineers Ch 7
http://slidepdf.com/reader/full/marketing-for-engineers-ch-7 25/54
7/24/2019 Marketing for Engineers Ch 7
http://slidepdf.com/reader/full/marketing-for-engineers-ch-7 26/54
k t ! t t i
7/24/2019 Marketing for Engineers Ch 7
http://slidepdf.com/reader/full/marketing-for-engineers-ch-7 27/54
arke t !egmenta t i on
7/24/2019 Marketing for Engineers Ch 7
http://slidepdf.com/reader/full/marketing-for-engineers-ch-7 28/54
Market Segmentat ion
• To be useful& market segments mustbe:
*euirements for E/e!tive Segmentation
7/24/2019 Marketing for Engineers Ch 7
http://slidepdf.com/reader/full/marketing-for-engineers-ch-7 29/54
7/24/2019 Marketing for Engineers Ch 7
http://slidepdf.com/reader/full/marketing-for-engineers-ch-7 30/54
Market argeting
• Target market consists of a set of
buyers who share common needs or
characteristics that the company
decides to serve.
Sele!ting arget Market Segments
7/24/2019 Marketing for Engineers Ch 7
http://slidepdf.com/reader/full/marketing-for-engineers-ch-7 31/54
M k t t i
7/24/2019 Marketing for Engineers Ch 7
http://slidepdf.com/reader/full/marketing-for-engineers-ch-7 32/54
Mar ket ar get ing
• !egment si'e and growth
• !egment structural attractiveness
(!trong 4 5eak "ompetitors&
6igh4/ow Industry 7rowth $ate8*
• "ompany ob9ectives and resources
Evaluating Market Segments
.
M k t ti
7/24/2019 Marketing for Engineers Ch 7
http://slidepdf.com/reader/full/marketing-for-engineers-ch-7 33/54
Market argetingarget Marketing Strategies
%)ample of a "oncentrated arketing
7/24/2019 Marketing for Engineers Ch 7
http://slidepdf.com/reader/full/marketing-for-engineers-ch-7 34/54
%)ample of a "oncentrated arketing!trategy
%)ample of icro marketing (Individual
7/24/2019 Marketing for Engineers Ch 7
http://slidepdf.com/reader/full/marketing-for-engineers-ch-7 35/54
%)ample of icromarketing (Individualarketing*
7/24/2019 Marketing for Engineers Ch 7
http://slidepdf.com/reader/full/marketing-for-engineers-ch-7 36/54
Market argeting
n"i/erentiate" marketing targets the
whole market with one o/er.
– ass marketing
–ocuses on common needs rather than
what;s dierent
arget Marketing Strategies
7/24/2019 Marketing for Engineers Ch 7
http://slidepdf.com/reader/full/marketing-for-engineers-ch-7 37/54
7/24/2019 Marketing for Engineers Ch 7
http://slidepdf.com/reader/full/marketing-for-engineers-ch-7 38/54
Market argeting
Con!entrate" marketing targets a small share
of a large market
• /imited company resources
• <nowledge of the market
• ore eective and ecient
arget Market Strategies
7/24/2019 Marketing for Engineers Ch 7
http://slidepdf.com/reader/full/marketing-for-engineers-ch-7 39/54
Marketing argeting
Mi!romarketing is the practice of
tailoring products and marketingprograms to suit the tastes of speci-c
individuals and locations
• /ocal marketing
• Individual marketing
arget Market Strategies
7/24/2019 Marketing for Engineers Ch 7
http://slidepdf.com/reader/full/marketing-for-engineers-ch-7 40/54
Market argeting
0o!al marketing involves tailoringbrands and promotion to the needsand wants of local customergroups
• "ities
• =eighborhoods
• !tores
arget Market Strategies
7/24/2019 Marketing for Engineers Ch 7
http://slidepdf.com/reader/full/marketing-for-engineers-ch-7 41/54
Market argeting
)n"ivi"ual marketing involves tailoring
products and marketing programs to the
needs and preferences of individual customers
• 0lso known as: – ,netoone marketing
– ass customi'ation
– arketsofone marketing
arget Market Strategies
Market argeting
7/24/2019 Marketing for Engineers Ch 7
http://slidepdf.com/reader/full/marketing-for-engineers-ch-7 42/54
Market argeting
>epends on:
• "ompany resources
• ?roduct variability
• ?roduct lifecycle stage
• arket variability
•
"ompetitor;s marketing strategies
Choosing a arget Market
7/24/2019 Marketing for Engineers Ch 7
http://slidepdf.com/reader/full/marketing-for-engineers-ch-7 43/54
7/24/2019 Marketing for Engineers Ch 7
http://slidepdf.com/reader/full/marketing-for-engineers-ch-7 44/54
7/24/2019 Marketing for Engineers Ch 7
http://slidepdf.com/reader/full/marketing-for-engineers-ch-7 45/54
Di/erentiation an" $ositioning
$ositioning maps show consumer
perceptions of their brands versuscompeting products on important
buying dimensions
d i i i
7/24/2019 Marketing for Engineers Ch 7
http://slidepdf.com/reader/full/marketing-for-engineers-ch-7 46/54
?roducts ?ositioning ap
Di/ ti ti "
7/24/2019 Marketing for Engineers Ch 7
http://slidepdf.com/reader/full/marketing-for-engineers-ch-7 47/54
Di/erentiation an"$ositioning
• Identifying a set of possible
competitive advantages to build aposition
• "hoosing the right competitive
advantages• !electing an overall positioning
strategy
•
>eveloping a positioning
Choosing a Di/erentiation an" $ositioning Strategy
Di/ ti ti "
7/24/2019 Marketing for Engineers Ch 7
http://slidepdf.com/reader/full/marketing-for-engineers-ch-7 48/54
Di/erentiation an"$ositioning
Competitive a"vantage is an advantage
over competitors gained by oering
consumers greater value& either through
lower prices or by providing more
bene-ts that 9ustify higher prices.
)"entifying $ossible ValueDi/eren!es an" Competitive
("vantages
Di/ ti ti "
7/24/2019 Marketing for Engineers Ch 7
http://slidepdf.com/reader/full/marketing-for-engineers-ch-7 49/54
Di/erentiation an"$ositioning
Identifying a set of possiblecompetitive advantages to
build a position by providingsuperior value from:
Choosing a Di/erentiation an" $ositioning Strategy
7/24/2019 Marketing for Engineers Ch 7
http://slidepdf.com/reader/full/marketing-for-engineers-ch-7 50/54
Di/ ti ti "
7/24/2019 Marketing for Engineers Ch 7
http://slidepdf.com/reader/full/marketing-for-engineers-ch-7 51/54
Di/erentiation an"$ositioning
Value
$roposition
is the full mi)
of bene-ts
upon which a
brand is
Sele!ting an 1verall $ositioning Strategy
7/24/2019 Marketing for Engineers Ch 7
http://slidepdf.com/reader/full/marketing-for-engineers-ch-7 52/54
7/24/2019 Marketing for Engineers Ch 7
http://slidepdf.com/reader/full/marketing-for-engineers-ch-7 53/54
Examples o Positioning Statements Used by
7/24/2019 Marketing for Engineers Ch 7
http://slidepdf.com/reader/full/marketing-for-engineers-ch-7 54/54
Examples o Positioning Statements Used byma!on
"#or $orld $ide $eb users who en%oybooks, ma!on.com is a retail bookseller
that pro&ides instant access to o&er '.'
million books. Unlike traditional book
retailers, ma!on.com pro&ides a
combination o extraordinary
con&enience, low prices, and