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Title: target marketing


1
Chapter 9
target marketingcompetition


2
Requirement of this chapter
Chapter 9
Target marketing competition
  • How does a company confirm subdividing the
    market?
  • How a company choose a competitive strategy ?

3
In this chapter, we focus on 3 parts.
Chapter 9
Target marketing competition
  • 1. Markets segmenting
  • 2. target marketing
  • 3. Marketing competitions

4
Chapter 9
Target marketing competition
1 Market segmentation
5
1.1 Definition
Chapter 9
Target marketing competition
  • Dividing a market into distinct groups of buyers
    on the basis of need, characteristic,or behavior
    who might require separate products or marketing
    mixes.
  • The cause that a market can be segmented is
    that customers have both similar and different
    demands.

6
Levels of Segment
Chapter 9
Target marketing competition
  • Mass marketing
  • Segment marketing
  • Niche marketing
  • Local marketing
  • Customization

7
1.2 Function
Chapter 9
Target marketing competition
  • A.The company can market more efficiently,targetin
    g its products or services,channels,and
    communications programs toward only consumers
    that it can serve best and most profitably.
  • B. The company can market more efficiently by
    fine-tuning its products, prices and programs to
    the need of carefully defined segments.
  • C. The company may face fewer competitors if
    fewer competitors are focusing on this market
    segment.

8
1.3 Segmentation variables for consumer markets
Chapter 9
Target marketing competition
  • (1) Demographic
  • Age
  • Sex
  • The number of people of the family
  • Family life cycle
  • Income
  • Education level

9
1.3 Segmentation variables for consumer markets
Chapter 9
Target marketing competition
  • (2) Psychological factor
  • Social class
  • Life style
  • Personality

10
1.3 Segmentation variables for consumer markets
Chapter 9
Target marketing competition
  • (3) Geographical factor
  • World region or country
  • City or metro-size
  • Density
  • Climate

11
1.3 Segmentation variables for consumer markets
Chapter 9
Target marketing competition
  • (4) Behavioral
  • Occasions
  • Benefits
  • User status
  • Usage rate
  • Loyalty
  • Readiness stage
  • Attitude to products ?

12
1.4 Requirements for effective segmentation
Chapter 9
Target marketing competition
  • ?Measurable The size,purchasing power,and profit
    of the segments can be measured.
  • ?Accessible The market segments can be
    effectively reached and served.

13
1.4 Requirements for effective segmentation
Chapter 9
Target marketing competition
  • (1) Measurable
  • The demand amount, purchasing power, and
    profiles of the segments can be measured.
  • (2) Accessible
  • The segments can be effectively reached and
    served. Effective programs can be designed and
    implemented.

14
1.4 Requirements for effective segmentation
Chapter 9
Target marketing competition
  • (3) Substantial
  • The market segments are large or profitable
    enough to serve.
  • (4) Differentiable
  • The segments are conceptually distinguishable
    and respond differently to different marketing
    mix elements and programs.
  • (5) stable
  • The segments must be stable in a given period.

15
1.5 The procedure of market segments
Chapter 9
Target marketing competition
  • Survey stage
  • Attributes their importance ratings
  • Brand awareness and brand ratings
  • Product-usage patterns
  • Attitudes toward the product category
  • Other variables.
  • Analysis stage
  • Subdivide stage

16
1.6 Way to segment the market of automobile ?
Chapter 9
Target marketing competition
  • 1. Production characteristic
  • 2. Different user
  • Private, government, State-owned enterprise,
    privately owned enterprise
  • 3. The capacity of market
  • The primary market,the secondary market

17
2 Target marketing
Chapter 9
Target marketing competition
  • Now marketing theories consider any company has
    lack of enough abilities to do marketing well in
    a whole market.
  • Segmenting, selecting segments, and doing market
    localization are three marketing steps at
    present.
  • Target marketing means that companies must
    carefully evaluate all segments, and select
    one/several segments as their goal markets, then
    do good marketing strategies as possible.

18
2 Target marketing
Chapter 9
Target marketing competition
  • 2.1 Evaluating market segment
  • 2.2 Selecting market segments
  • 2.3 Marketing positioning

19
2.1 Evaluating market segment
Chapter 9
Target marketing competition
  • Segment scale and growth, segment structural
    attractiveness, and company objectives and
    resources
  • Major structural factors that affect long-run
    segment attractiveness.
  • Company objectives and resources.

20
2.2 Selecting market segments
Chapter 9
Target marketing competition
  • Single-segment Concentration only one segment as
    target market.
  • Selective specialization several segments as
    target markets.
  • Product specialization a line of products
  • Market specialization a type of markets
  • Full market coverage all segments as target
    markets, differential marketing strategies for
    different segments.

21
Chapter 9
Target marketing competition
22
Chapter 9
Target marketing competition
23
Pay attention
Chapter 9
Target marketing competition
  • ?

Differentiated marketing A firm targets several
market segments or niches and designs separate
offers for each. Undifferentiated marketing A
firm might ignore market segment differences and
go after the whole market with one offer.
24
2.3 Marketing positioning
Chapter 9
Target marketing competition
  • The concept of marketing positioning a company
    should identify right product imagines and
    company imagines in order that consumers can have
    a clear and comprehensive impression in their
    minds.
  • Of course, marketing positioning is for target
    market segments.

25
2.3 Marketing positioning
Chapter 9
Target marketing competition
  • The procedures of positioning
  • Study on factors affecting market localization.
    For examples, ways how competitors localize,
    consumers evaluating criteria and approbation.
  • Selection and intensification of superiorities
    own by a company.
  • precise positioning spread and communication.

26
3 Marketing competitions
Chapter 9
Target marketing competition
  • 3.1 Analysis tools of competitions
  • 3.2 How to find competitors
  • 3.3 Competitive strategies

27
3.1 Marketing competitions
Chapter 9
Target marketing competition
  • 3.1.1 PEST-method
  • 3.1.2 Five forces model
  • 3.1.3 SWOT method

28
3.1.1 PEST-method
Chapter 9
Target marketing competition
  • this is an environmental analysis tool consisted
    of political, economic, societal, and
    technological factors.

29
3.1.2 Five forces model
Chapter 9
Target marketing competition
  • supplier's bargain ability, buyers bargain
    ability, threat of new competitors, threat of
    replacement product, and competitiveness come
    from existing competitors.

30
Chapter 9
Target marketing competition
3.1.2 Five forces model
31
3.1.3 SWOT method
Chapter 9
Target marketing competition
  • this is a analysis tool studying on internal
    abilities and environmental forces.
  • There are two cases in internal abilities of a
    company superior, weak. There are also two cases
    in environmental forces opportune and
    threatened. SWOT means strength, weakness,
    opportunity, threat.

32
Chapter 9
Target marketing competition
3.1.3 SWOT method
33
3.1.3 SWOT method
Chapter 9
Target marketing competition
34
3.1.3 SWOT method
Chapter 9
Target marketing competition
35
3.1.3 SWOT method
Chapter 9
Target marketing competition
36
3.1.3 SWOT method
Chapter 9
Target marketing competition
  • SO-strategy internal superiorities and good
    exterior opportunities.
  • WO-strategy internal weakness and good exterior
    opportunities.
  • ST-strategy internal superiorities and
    environmental threat.
  • WT-strategy internal weakness and environmental
    threat.

37
3.2 How to find competitors
Chapter 9
Target marketing competition
  • Usually, competitors we can be found by analyzing
    on a contesting fight power for customers
    demands and desires, and on corporations in the
    same industry. Attention sometimes it is
    especially difficult that potential competitors
    are found in time.
  • We can classify corporations as 4types on the
    basis of their competitiveness leaders,
    challengers, followers, niche-seekers.

38
3.2 How to find competitors
Chapter 9
Target marketing competition
  • Having analyzed who is or would be competitors, a
    company must recognize their competition
    strategies, evaluate their advantages and
    disadvantages, and make sure its competition
    strategies.
  • Types of competition strategies advanced
    strategy in cost, differential strategy in
    product/service, concentrated strategy in market
    or business. Once a kind of strategy is chosen,
    it must be continued and quite implemented.

39
3.3 Competitive strategies
Chapter 9
Target marketing competition
  • 3. 3.1 Market leader strategies
  • 3. 3.2 Market challenger strategies
  • 3. 3.3 Market follower strategies
  • 3. 3.4 Market nicher strategies

40
3. 3.1 Market leader strategies
Chapter 9
Target marketing competition
  • Market leader
  • The leader has the largest market share and
    usually leads the other firms in price
    changes,new-product introductions,distribution
    coverage,and promotion spending.

41
3. 3.1 Market leader strategies
Chapter 9
Target marketing competition
  • Expanding the total market
  • Protecting market share
  • Expanding market share

42
3. 3.1 Market leader strategies ?
Chapter 9
Target marketing competition
Expand the total market By developing new user,new or more usage of its products
Protect market share Keep cost down,avoid competitors jumping in with continuous innovation
Expanding market share
43
3.3.2 Market challenger strategies
Chapter 9
Target marketing competition
  • Market challenger
  • a company who can challenge leaders and other
    competitors.

44
3.3.2 Market challenger strategies
Chapter 9
Target marketing competition
  • A.Define which competitors to challenge and its
    strategic objective.
  • B.Choose a competitive strategy.
  • launch a full frontal attack,matching the
    competitors product,advertising and price.
  • make an indirect attack on the weakness.
  • diversify into unrelated products.

45
3.3.3 Market follower strategies
Chapter 9
Target marketing competition
  • Market follower
  • they have no enough competitiveness to challenge
    any competitor, and imitate the marketing of
    those stronger companies.

46
3.3.3 Market follower strategies
Chapter 9
Target marketing competition
Learn from the leaders experience and copy or
improve on their products with much less
investment
47
3.3.4 Market nicher strategies
Chapter 9
Target marketing competition
  • Market nicher
  • Know the target customer group so well that it
    can meet their needs better than other firms.

48
3.3.4 Market nicher strategies
Chapter 9
Target marketing competition
  • Know the target customer group so well that it
    can meet their need better than other firms.
  • Charge a substantial makeup over cost.
  • Specialize along of market customers, product,or
    marketing mix lines.
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