Ch.7 S, T & P

Question 0

Segmentation

Answer 0

Divide market into groups with different needs or behaviours who need dif. Marketing mixes (4ps)
Each segment should respond similarly to mark strategies
Can be geographic
Demographic
Psychographic
Behavioural ( usage)

Question 1

S, T & P purpose

Answer 1

Designing customer driven marketing strategy

Question 2

Targeting

Answer 2

Evaluate attractiveness of segments to enter

Question 3

Differentiating

Answer 3

Create customer value by offering a unique quality or feature

Question 4

Positioning

Answer 4

Create clear and desirable place (relative to competitors) for a product in the mind of the consumers

Question 5

Geographic segmentation

Answer 5

By region, urban vs rural classification, climate, pop density

Question 6

Demographic segmentation

Answer 6

Age, gender, family size and life cycle, income, occupation, education, religion, race, generation
Most popular one

Question 7

Geodemographic segmentation

Answer 7

Clusters based on social values and neighbourhoods

Example of multiple segmentation bases

Question 8

Psychographic

Answer 8

Lifestyle
Social class
Personality
Attitudes
Vals= 8 PG segments ( thinkers, believers, survivors, makers, strivers...)
Hard to get

Question 9

Behavioural segmentation

Answer 9

Knowledge
Usage behaviour
Response to product
( purchase occasion, benefits seeked (tide vs gain), user status (ex vs potential user), user rates (heavy vs light), loyalty (accept substitutes?))

Question 10

Segmentation criteria

Answer 10

Measurable size, purchasing power
Accesible effectively reach the segment
Substantial big enough to be profitable
Differentiable same 4 same segment, dif. Across segments
Actionable # of segments match capacity of the firm

Question 11

Segmentation process

Answer 11

Segment profile
Evaluation of seg ( size, growth rate, attractiveness (competitors & substitutes), compatibility with company resources, value proposition)
Select/target specific segs

Question 12

Selecting targets

Answer 12

Undifferentiated mass mark common needs like Kleenex max. Market reach at low cost not to use if competitors do dif mark
Dif. Mark (shoes)gives stronger position in a segment but you need to spend
Concentrated niche mark zappos gives large share of a few segments possible with few ressources if products are differentiable
Micro mark allows customization WM con soup ordering better only if you have lots of ressources, you can go as far as you want

Question 13

Perceptual maps

Answer 13

Move closer to ideal
Introduce a new product cti
Shift ideal point by changing importance of attributes or introducing new ones
Reposition change perception