course_mm_curs limba engleza mk7
TRANSCRIPT
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Understand how target marketing depends upon the idea of
heterogeneous demand among different market segments.
Note the advantages and disadvantages to segmentation and
target markets.
Understand the process of target market segmentation.
Appreciate how segmenting business markets differs from
segmenting consumer markets.
Understand the issues that arise when segmenting globalmarkets.
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A deep understanding of a group of potential customers
and a marketing plan specifically tailored for that group
helps to ensure the success of a product.
Example:Energy drinks, although popular in Europe for
over 20 years, were virtually unknown in the US until 1997,
when Red Bull first appeared and created the energy drinks
market.
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Making the product available only at selected in places
where young adults like to party.
They also make use of consumer educators, who drive
around in a silver, Red Bull off-road vehicle, passing out free
samples who anyone who looks like they need a boost ofenergy.
They sponsor extreme sporting events: snowboarding,
skateboarding, mountain biking.
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Amarketis any individual, group of individuals or
organizations, willing, able and capable of purchasing a
firms product.
Example:you and your mother may both want a new car,
but your needs and wants may be totally different.
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Generally, different groups of customers have differing
needs from specific products, orheterogeneous
demand.
Forexample: teens may want stylish blue jeans; workers want
durable jeans, while older gray consumers want comfortable
jeans.
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Market segmentation consists of groups of consumers
who are alike based on some characteristics. Each of
the market segments that a company selects to reach
with its marketing efforts is a target market.
The process of matching a specialized marketing mix
with the needs of a specific market segment is critical
to the marketing success of a product, and is calledtarget marketing.
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Mass Market Niche Micromarkets
The
Individual
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For Mass Markets, the marketing mix is standardized toreach all customers in the same way. The smaller thesize of the segments targeted, the more customized orindividualized the marketing efforts toward the market
can be. Moving toward the middle of the continuum, firms may
define a smaller segment, the niche, through nichemarketing.
Niche marketing is the process of targeting a relativelysmall market segment with a specific, specializedmarketing mix.
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Old Navy is a specialty store targeted at teenagers.
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Foot Joy makes shoes for golfers.
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Estee makes sugar free foodproducts for diabetics.
The smaller segments of the market are known asmicro-markets (small market segments, such as zip
code areas or even neighborhoods), and marketingefforts aimed at this segment are calledmicromarketing.
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Micromarketing is the process of targeting this small,narrowly defined market segments.
For example: a large, upscale retail store may identify therich neighborhoods within a city, and send them by mail fliers,
advertisements, inviting them to purchase from the respective
store. Other examples of customized services are: wedding
planners, hairstylists, doctors, and even Burger King, which
invites customers to
have it your way.
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Advantages:
1. Identification of the market allows a company to knowwhom to analyze to better understand consumer potential.
2. A detailed analysis of the market allows a company to
develop and implement a marketing mix tailored to the
specific needs of the market. Example: in the USA, after a careful analysis, Honda was
able to reduce the price of the cars by reducing the number of
available options, making the total product better suited to the
needs of the cars
reliable target market.
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3. Identification of the market allows a company toassess potential demand for its products.
Example: the total market for a Marketing textbook can
be determined by looking at the number of college
students enrolled in business programs.
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4. Knowing the market allows firms to identifycompeting products in their specific market, and
develop responsive competitive positions.
Example: Burger King and McDonalds recognize that
they are direct competitors in the burger market, and
each responds to changes in the others marketing
efforts.
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6. Defining and analyzing a target market allows a firmto position its products to the market based on assessed
needs and preferences.
7. Defining a target market allows a firm to identify
opportunities.
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1. Targeting multiple markets generally increase marketingcosts.
2. Personalization and individualization of markets can lead
to proliferation of products that can be costly to manage.
3. Too small niches may be viewed cynically by the targetedindividual, and negatively affect consumer response to
marketing efforts.
4. Narrowly segmenting a market to target may actually
prevent a product from developing brand loyalty.
5. Target marketers have been widely criticized for unethical
or stereotypical activities.
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Monitor, Evaluate and Control
Develop and Implement Appropriate Marketing Mix
Select Positioning Strategy
Assess Potential Profitability of Each Segment and Select Segments for Targetin
Profile Each Selected Segment
Determine Bases for Segmentation
Determine Need for Segmentation
Identify the Total Market
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To determine if the total market needs to be dividedinto segments for the purpose of targeting with special
marketing programs.
Example: the market for sugar is huge. Most kitchens stock
sugar, but is there a need to segment markets when selling
sugar? Probably not, because of the products homogeneity of
demand and little perceived difference in brands.
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Criter ia for Successful Segmentation
Heterogeneous - there are always differences in
consumer preference, or heterogeneity of demand (e.g.:
brown sugar, white sugar, double-refined sugar,
artificial sweetener).
Measurabledifference preferences for a product must
be identifiable and capable of being related tomeasurable variables, such as age, gender, lifestyle,
product usage, etc.
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Actionablecompanies must be able to respond todifference preferences with an appropriate marketing
mix.
Accessiblethe proposed market segment must be
accessible and reachable with targeted programs.
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Segmentation means dividing markets into homo-geneous groups based on some related characteristics.
a) Demographic segmentationage, income, occupation,
level of education, race, gender, family life cycle,
family size, religion. Example: Family life cycle - singlesbuy canned vegetables in individual serving sizes, while
families with babies buy fresh vegetables.
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b) Geographic segmentationregions may be used tosegment markets for specialized marketing efforts.
Types of products vary and brands of products
purchased vary according to regions of the world,
country, state, city or neighborhood. Example: snow
sleds are common purchases in the northern part of the
US, while outdoor furniture is popular in the south.
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e) Situation segmentationthere are different situationswhich affect the buying decision: task definition (is it a
gift), temporal perspective (how much time do you
intend to spend shopping?), etc.
f) Behavior or usage segmentationloyalty toward a
product, the way the product is used, and usage patterns
can serve as a basis for segmenting markets.
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Forecast Demand
Once segments have been identified and distinguished, a
firm must determine the profitability of customizing
marketing efforts aimed at these segments. This involves
first forecasting demand for the product, within eachsegmented target market.
Example: at the beginning of 2008, McDonalds owned
43.1% market share and has a restaurant located within 4
minutes of most consumers. Competitors actions and otherenvironmental factors that may affect future sales must also
be carefully anticipated when forecasting potential demand.
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Positioning is the image that customers have about aproduct, especially in relation to the products
competitors. Example:Mountain Dew, a PepsiCo product, whose sales rose to 13% in
1997, placing the brand on the 4thposition in the carbonated drink market,ahead of Coca Colas Sprite, now ranked 5th. The success of Mountain
Dew is attributed to a strong image that links teenagers, the major market
segment, with outdoors, high-energy and thirst quenching properties of the
drink.Mountain Dew has retained its strong position over the last 25 years.
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Product Attr ibutes
the characteristics or attributes ofa product may serve as the basis for positioning the
product. Some Colgate-Palmolive toothpastes are
positioned by their attributes: Colgate Tartar Plus
Whitening has both an antitartar and whitening formula forclean, white teeth, while Colgate Total toothpaste helps
prevent cavities, gingivitis, plaque, and provides long-lasting
fresh breath protection.
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Product User
the typical user of a product can also beused to position a product.
Example: Marlboro cigarettes appealed for a long time tothe rugged individual with their Marlboro man. The latest
Samsung mobile phone is positioned to appeal to thesuccessful, individualistic business leader, so that they could
compete with the IPhone,
already famous by now.
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Product Usage
products can be positioned accordingto the ways in which they are typically used.
Product Classsome products are positioned against
another type of product class. The advertisement hints
that the nutritional, low-calorie energy barPria is an
alternative to a chocolate candy bar.
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Competition
comparing your product to its competition,either directly or indirectly, is another form of product
positioning. Burger King and McDonalds often compare
their products to each other. It also happened with kitchen
detergents, Coke and Pepsi, nowadays these techniquesbeing partly forbidden by law.
Symbolsometimes companies use a symbol or icon to
position their product in the minds of the consumers. Overtime, the symbol can become synonymous with the
company or product.
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Target marketing is extremely important because it
allows firms to identify and analyze their customers,
develop tailored market mixes to meet customer needs,
identify market demand, identify competition, increase
operating efficiencies, improve product positioning and
identify opportunities.
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Identifying the total market; Determining the need for segmentation based on criteria for
segmentation, strategic factors, and external factors; Determining the bases for segmentation using demographic,
geographic, psychographic, benefits sought. Situation and behaviordescriptors.
Profiling each selected segment; Assessing potential profitability of each segment and selecting
segments for targeting; Selecting the positioning strategy on the basis of price/quality,
product attributes, product user, product usage, product class,
competition, or symbols. Developing and implementing an appropriate marketing mix; Monitoring, evaluating and controlling the selection process.
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