session 8 segment, targeting and positioning...

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MarketingManagementSession8

QianXU,PhD.Spring,2017

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Today’sagenda•Teampresentations•MySTPforLongquan Temple•Branding

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Part1TeamPresentations:TheLongquan Temple

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Questions•Imaginethatyouaretheabbot(住持)

•S:Definesegments•T:Chooseyourtargetsegment•P:Developasloganbasedonyourtarget

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Requirements•3minperteam•NoQ&A

•Payattentiontootherteams’advantagesanddisadvantages

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Purposesofthispractice•FamiliarwiththebasicproceduresofSTP•UnderstandthelogicsbehindSegmentation

•Advancedskills(optional):•Questionnairedesign• Statisticalanalysis

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Part2MySTPforTheLongquan Temple

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Step0:Collectconsumerresponses•N=42,2weremissing

•Questionnaire:•Demographic•Geographic•Behavioral•Psychographic•Needs

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Behavioral

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Psychographic

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Needs

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Step1:Identifyneeddimensions•Method:factoranalysis

Component1 2 3

Scenery(自然风景) 0.667 0.211 -0.045Buddhadharma(佛法水平) 0.235 -0.069 0.854Efficiency(灵验程度) -0.138 0.297 0.748Entertainment(有趣程度) 0.268 0.606 0.023Popularity(流行程度) -0.118 0.88 0.058Architecture(建筑水平) 0.766 0.184 -0.15Transportation(交通便利) 0.272 0.589 0.119Humanity(人文风貌) 0.715 -0.017 0.314Culture(历史文化) 0.804 0.074 0.13

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Step1:Identifyneeddimensions•Method:namethefactors

ComponentSightseeing(观光)

Fun(游玩)

Faith(信仰)

Scenery(自然风景) 0.667 0.211 -0.045Buddhadharma(佛法水平) 0.235 -0.069 0.854Efficiency(灵验程度) -0.138 0.297 0.748Entertainment(有趣程度) 0.268 0.606 0.023Popularity(流行程度) -0.118 0.88 0.058Architecture(建筑水平) 0.766 0.184 -0.15Transportation(交通便利) 0.272 0.589 0.119Humanity(人文风貌) 0.715 -0.017 0.314Culture(历史文化) 0.804 0.074 0.13

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Step1:Identifyneeddimensions• Notes:

• Iftheneedsyoucollectedare verylimited,youcanskipthedimensionreducingstep.

• Butusually,I highly suggestyousurveyasmanyasneedspossibleintheexploration.

• Factornamingismajorlysubjective,butthestatisticscangiveyousomereferences.

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Step2:Groupsegments•Method:Hierarchicalclusteringanalysis

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Step2:Groupsegments• Nameeachgroupbasedontheirneeds

Segment

Sightseeing Fun Faith

Name(观光) (游玩) (信仰)

1 0.62 0.76 -0.24 Relaxer(逍遥游逸族)

2 -1.13 -0.70 -0.45 Others (其他)

3 -0.23 0.45 0.46 Peaceseeker (追求平和族)

4 1.33 -1.36 0.04 Visualizer (风景至上族)

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Step2:Groupsegments

25.0%

22.7%

34.1%

13.6%

Relaxer(逍遥游逸族)

Others(其他)

Peaceseeker(追求平和族)

Visualizer(风景至上族)

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Step2:GroupsegmentsFeedbacksforeachsegment

SegmentSightseeing Fun Faith

Members(e.g.,)(观光) (游玩) (信仰)Relaxer(逍遥游逸族) 0.62 0.76 -0.24 乔哲一伍辉斌何厚樾蔡硕璇Others(其他) -1.13 -0.70 -0.45 赵衍旭何慧琳朱佳颖万若馨Peaceseeker(追求平和族) -0.23 0.45 0.46 王晨雨乔悦李沁怡黄晓莉Visualizer(风景至上族) 1.33 -1.36 0.04 于晨曦施一鸣尉喆文唐泓宇

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Step2:Groupsegments• Notes:

• Thenumberofsegmentsisdeterminedsubjectively.• Gobacktoconsumerswhenyouarenotsurewhetheryoursegmentsareappropriate.

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Step3:Describesegments

Male Age CityElectronicpaymentusage

Moneybelief

Relaxer(逍遥游逸族) 36.4% 20.0 3.6 11.1 3.1

Others(其他) 10.0% 19.6 3.2 11.0 2.9

Peaceseeker(追求平和族) 13.3% 19.7 3.1 10.6 2.7

Visualizer(风景至上族) 50.0% 19.5 3.5 11.7 2.7

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Step4:Choosethetarget

Size/Growpotential Competition Business

capabilities

Corporateobjective

andmissionSustainability Defendability

Overallscore

Relaxer(逍遥游逸族) 4 1 3 3 4 3 18Others(其他) 4 3 3 3 5 3 21Peaceseeker(追求平和族) 5 5 4 5 5 5 29Visualizer(风景至上族) 2 4 3 3 5 4 21

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Step5:Designpositioningstrategy•Slogansforthosewhoseekinnerpeace

•Turnoffthesurvivalmode.•Stayfull,stayfoolish.

•Marketingstrategiesshouldbebasedontheir•Demographic•Geographic•Behavioral•Psychographic•Needs

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Take-aways• Todeterminethesegments,youneedto:

• Groupconsumersbasedontheirneeds:• Subjectivethinking• Dimension reduction analysis such as factor analysis (E-learning)• Clustering analysis such as hierarchical clustering(E-learning)

• Describethemusingtheirindividualcharacteristics• Tochooseatarget,youneedtoevaluateseveralaspecttogether.• Topositiontheproduct,gobacktocheckconsumercharacteristicsandneeds.

•Majorlysubjective,butdataanalysiscangiveyousupport.

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MarketingMix:4P

Product Price Promotion Place

STP

Segmentation Targeting Positioning

MarketingAnalysis:5C

Customer Company Competition Collaborator Context

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Part3Branding

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Today’saims•Toknow:brand/branding/brandequity/brandextensions…

•Tounderstand:Whyisbrandingimportant?•Toact:Howtobranding?

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3.1Brand•OldNorse(古北欧语):toburn

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Identifythesourceormaker.

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3.1.1Branding•Verb.•Theprocessofendowingproductsandserviceswiththepowerofabrand.

•Almosteverythingafirmdoes.

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3.1.2Brandequity

•Thevalueofabrand•Morethan13benefits

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3.2Whatbrandscando1. Improvedperceptionsofproductperformance2. Greaterloyalty3. Lessvulnerabilitytocompetitivemarketingactions4. Lessvulnerabilitytomarketingcrises5. Largermargins6. Moreinelasticconsumerresponsetopriceincreases7. Moreelasticconsumerresponsetopricedecreases8. Greatertradecooperationandsupport9. Increasedmarketingcommunicationseffectiveness10. Possiblelicensingopportunities11. Additionalbrandextensionopportunities12. Improvedemployeerecruitingandretention13. Greaterfinancialmarketreturns

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3.2.1Improvedperceptionsofproductperformance

Phiten (法藤)

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3.2.2LargermarginUS China %

Starbucks(tall) 12 22 183%

MeadJohnson(美赞臣)milkpowder 100 275 275%

BMW X5 GT 429,000 1,710,000 398%

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Brandworth/value

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3.3Brandextension

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3.3.1Threebrandextensions•Individualorseparate brandnames

•Diaopai &Nice•Corporateumbrella brands

•Zippo&Zippoperfume•Sub-brands

•Armani&ArmaniExchange

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1)Usenoparentbrand

2001

2005

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1) Usenoparentbrand

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2)Corporateumbrella brands

Zippoperfume:manperfumeandcolognes

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2)Corporateumbrella brands

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3)Sub-brands

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Corporatebrand

Productbrand

3.3.2Corporatevs.productbrands

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1)Corporatebrand≠productbrand

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2)Corporatebrand≈productbrand

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3)Mixed

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3.4Howtobranding

Brandelement

Brandelementchoices

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3.4.1Brandelement• Statement• Logo• Slogan• Color• Endorsement• Package• Sounds• Design…

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1)BrandPositioningStatementFor World Wide Web users who enjoy books, Amazon.com is a retail bookseller that provides instant access to over 1.1 million books. Unlike traditional book retailers, Amazon.com provides a combination of extraordinary convenience, low prices, and comprehensive selection. (Amazon, 2011)

TargetCustomer

MarketDefinition

BrandPromise

ReasontoBelieve

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2)Logo

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3)Slogan

•BMW:Theultimatedrivingmachine.•L’Oreal:Becauseyou’reworthit.•Volvo:Forlife.•Adidas:Impossible is nothing.•Li-Ning:Anythingispossible.

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4)Color

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5)Celebrityendorsement(代言人)

GeorgeClooney

Nespresso

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2)Meaningful• EMC:e=MC2• IBM:InternationalBusinessMachine• BMW:BavarianMotorWorks• TCL:

TelephoneCommunicationLimitedTheCreativeLife

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3.5.2Slogan•Heineken refreshesthepartsotherbeerscannotreach

•Howrefreshing!HowHeineken!•Abetterbeerdeservesabettercan.

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Teamassignment•Targetaunique/belovedbrand.•Defineitsbrandelements(logo,slogan…).•Collectitsproductandcompanymarketingactivitiesforbrandings(goodvs.bad).

•3-5minpresentationwithslidesnextweek.

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After-class•Read

•Chapters9-10(14ed.)•Heads-up:

•SubmittermprojectproposalbyApr.26(Optional,forthosewhowanttoconfirmtheirresearchplan).

•Quiz2(Chapters6-10)onMay.10th.

session 8 segment, targeting and positioning...

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