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Core Concepts in Marketing

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composed of individuals who share key characteristics, ... Geriatrics. Approaches to. Positioning Strategy. Approaches to Positioning Strategy. Distribution ... – PowerPoint PPT presentation

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Title: Core Concepts in Marketing


1
Core Concepts in Marketing
  • Market Segmentation
  • Market Targeting
  • Positioning

2
Steps in Market Segmentation, Targeting,and
Positioning
3
Basic Market-Preference Patterns
4
Market Segmentation
  • Identify segmentation variables and segment the
    market.
  • What is a segmentation variable?
  • m
  • o
  • m

5
Bases for Segmenting Consumer Markets
6
Market segments are
  • Produced by applying at least one segmentation
    variable to the market
  • composed of individuals who share key
    characteristics, giving them similar product
    needs or desires

b
a
a
b
a
b
b
a
a
a
b
b
b
a
a
b
a
b
a
c
b
c
c
c
c
c
c
c
c
7
Market Segmentation
  • Develop a profile of each segment
  • segment members should
  • segments should

8
M
Effective Segmentation
S
  • Size, purchasing power, profiles of segments can
    be measured.

A
A
9
Market Targeting
  • Select segment(s) to target
  • able to meet or exceed expectations
  • compatible segments

10
Positioning Agenda
  • Introduction
  • How many differences to promote?
  • Positioning errors
  • Perceptual mapping
  • Approaches to Positioning strategy
  • How to get started
  • Playing the positioning game

11
Positioning
  • Competition thrives under product and market
    differentiation.
  • Product position is the way the product is
    defined by
  • Positioning is the place the product occupies in
    customers minds

12
Positioning
  • In business to business marketing, it is critical
    to position not only your products but also your
  • The product should be matched with the segment
  • The strategy must reflect the businesss unique
    combination of marketing variables that

13
How many differences to promote?
  • USP (Unique Selling Proposition)
  • e.g., Crest
  • Mercedes
  • BMW
  • best quality, best service, lowest breakdown
    rates, largest regional bank,

14
How many differences to promote?
  • Double benefit positioning
  • V
  • D
  • C
  • C

15
Three Positioning Errors
  • Underpositioning
  • C
  • Overpositioning
  • T
  • Doubtful positioning
  • C

16
Perceptual Mapping
  • Accomplished using Multi-Dimensional Scaling
    (MDS) statistical technique.
  • Business buyers rate sellers products or
    services on specified attributes, thereby
    evaluating the firms position relative to the
    competition.
  • The business could find the ideal spot or the
    vacant space through MDS.

17
Two-Dimensional Perceptual Map of Vendor
Attributes of Credit Card transaction processors.
Fast Response Speed
  • Company B
  • Company C

Strong Customer Service Programs
Weak Customer Service Programs
  • Company A
  • Company D

Slow Response Speed
18
Joint-space Configuration of Medical Journals and
Criterion Vectors
Specialized
Human Sexuality
8
7
Geriatrics
6
M. D.
5
Medical Economics
9
Emergency Medicine
Non Technical
Technical
New England Journal of Medicine
Medical Tribune
10
4
Information useful for daily practice
2
Medical World News
1
Modern Medicine
3
JAMA
General overall preference
General reading preference
Greatest Breadth of Appeal
Best when in a hurry
Most likely to include new developments
General
19
Approaches to Positioning Strategy
Price
Technology
Approaches to Positioning Strategy
Distribution
Service
Image
20
Approaches to Consumer Positioning Strategy
Price
Attribute
Approaches to Consumer Positioning Strategy
Benefit
User
Image
21
How to get started?
  • What position does the firm
  • What position does the firm
  • Whom must
  • Does the
  • Can the firm
  • Does the firm

22
Playing the Positioning game
  • You must understand the role of words.
  • V
  • You must know how words affect people.
  • M

23
Playing the Positioning game
  • You need vision
  • Be
  • J
  • You need courage
  • Pour
  • H

24
Playing the Positioning game
  • You need objectivity
  • Be
  • Eliminate
  • How
  • Bounce
  • You need simplicity
  • R
  • J
  • T

25
Playing the Positioning game
  • What you dont need
  • Reputation
  • I
  • Bristol-Myers
  • F
  • R
  • D

26
First Rule of Positioning
  • To win the battle for the mind, you cant
    compete head-on against a company that has a
    strong, established position.
  • In our overcommunicated society,
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