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BASIC MARKETING STRATEGY

Marketing Strategy Process Market/ customer analysis Market segmentation Market targeting Marketing Mix Market positioning

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Page 1: Marketing Strategy Process Market/ customer analysis Market segmentation Market targeting Marketing Mix Market positioning

BASIC MARKETING STRATEGY

Page 2: Marketing Strategy Process Market/ customer analysis Market segmentation Market targeting Marketing Mix Market positioning

Marketing Strategy Process

Market/ customer analysis

Market segmentati

on

Market targeting

Marketing Mix

Market positioning

Page 3: Marketing Strategy Process Market/ customer analysis Market segmentation Market targeting Marketing Mix Market positioning

Model of buyer behavior in consumer markets

Marketing stimuli

• Product• Price• Place• Promotion

Other stimuli

• Economic• Technological

• Political• Cultural

Buyer’s Characteristi

cs• Cultural• Social• Personal• Psychological

Buyer’s decision process

• Problem recognition

• Information search

• Evolution• Decision• Post-purchase behavior

Buyer’s decisions

• Product choice

• Brand choice

• Retailer choice

• Purchase timing

• Purchase amount

Page 4: Marketing Strategy Process Market/ customer analysis Market segmentation Market targeting Marketing Mix Market positioning

Segmentation Methods

Geographic segmentation: geo-marketing databases. Type of household in particular post-codes. Other variables (income, ethnicity, household size, etc).

Demographic segmentation: life-stage analysis, age, gender, income and social class.

Psychographic segmentation: lifestyle, personal values and attitudes.

Behavioral segmentation: customer’s knowledge of the product, point of purchase, purchase pattern and frequency, intensity of use, benefits, loyalty, etc.

Page 5: Marketing Strategy Process Market/ customer analysis Market segmentation Market targeting Marketing Mix Market positioning

Multivariate segmentation

Multivariate analysis uses more than one variable in the development of market segmentation and examines several elements simultaneously, for example gender and age. Once these groupings are established, it becomes possible to give meaningful labels to the clusters, such as “young aspirational urbanite”.

Page 6: Marketing Strategy Process Market/ customer analysis Market segmentation Market targeting Marketing Mix Market positioning

Developing the marketing mix

Product

• Design• Features• Quality• Quantity• Variations• Packaging• Brand• Service

Price

• List Price• Discounts• Credit

terms• Repeat

purchase• Payment

terms

Promotion

• Advertising• Direct

marketing• Sales

promotion• Coupons• Bundling• Joint

promotion• Loyalty

programs• Public

relations

Place

• Geography• Channels• Retailers• Opening

times• Order

taking• Fulfillment• Delivery

Page 7: Marketing Strategy Process Market/ customer analysis Market segmentation Market targeting Marketing Mix Market positioning

Position and positioning

A product’s position ultimately depends on the attitudes of people in the target market.

Firms will seek to position their products to increase sales.

Either marketers accept customer attitudes as they are and tailor the product to fit these attitudes OR they seek to change attitudes.

Positioning indicates how a company wishes to compete in the market place.

Page 8: Marketing Strategy Process Market/ customer analysis Market segmentation Market targeting Marketing Mix Market positioning

Positioning

The process of creating an image for the product in the minds of customers.

The activity directed towards creating and maintaining an intended product concept and image in the minds of targeted customers.

Arranging for a brand or product to occupy a clear and distinctive place in the minds of target customers relative to competing products and brands.

Page 9: Marketing Strategy Process Market/ customer analysis Market segmentation Market targeting Marketing Mix Market positioning

Car model position map

Page 10: Marketing Strategy Process Market/ customer analysis Market segmentation Market targeting Marketing Mix Market positioning

Internal item position map

Page 11: Marketing Strategy Process Market/ customer analysis Market segmentation Market targeting Marketing Mix Market positioning

The role of positioning

To strengthen the power of messages directed at customers.

To target a particular segment. To ensure that the product is

differentiated in the minds of customers.

To decide on the ground on which to compete.

To analyze re-positioning possibilities.

Page 12: Marketing Strategy Process Market/ customer analysis Market segmentation Market targeting Marketing Mix Market positioning

Position in the market

The location of a product or service alongside key competitors in the mind of consumers.

The way customers perceive a product relative to competing products.

Refers to the place the product occupies in the customer’s perceptual map of the market.

Page 13: Marketing Strategy Process Market/ customer analysis Market segmentation Market targeting Marketing Mix Market positioning

Brand perception map

Inno

vatio

n

Expe

nsive

Relia

ble

Appe

als to

you

ng p

eopl

e

Easy

to u

se

Valu

e fo

r mon

ey

Good

for f

amilies

0

1

2

3

4

5

6

Brand ABrand BBrand CImportance