Chapter 7: Segmentation & Positioning Flashcards
What are the two steps of Marketing Segmentation?
Naming broad product-markets
&
Segmenting markets to selecting target markets and develop marketing mixes
Why does the Market segmentation process fail often?
Beginners start with the whole mass market to try and find one or two demographic characteristics to divide up (segment) the market
What are the Behavioral Dimensions for Segmenting consumer markets?
- Information required
- Needs
- Benefits sought
- Thoughts
- Rate of use
- Purchase relationship
- Brand familiarity
- What kind of shopping
- Type of problem-solving
What are the Demographic Segmentation Dimensions
- Income
- Sex or age
- Family size or family life cycle
- Occupation or education
- Ethnicity or social Class
What are all potential dimensions to reasons why the target segment chooses to buy a particular brand of the product
Qualifying Dimensions
Determining Dimensions (product type)
Determining Dimensions (brand specific)
Several factors affect the specificity and use of determining and qualifying dimensions in segmenting markets.
What does the positioning statement do
It provides marketing managers with strategic direction.
What’s a good template and example positioning statement?
For (our target market), (our brand) of all (product type) delivers (key benefits or point of differentiation) because (our brand) is (reasons to believe)
Mountain Dew
What is Positioning?
Refers to the process of creating a distinct image or perception of a product or brand in the minds of consumers relative to competitors.
Marketers can differentiate the marketing mix in order to meet customer needs better than competitors and build a competitive advantage.
What is market segmentation
The process of naming broad product-markets and then segmenting these broad product-markets in order to select target markets and develop suitable marketing mixes
