Define a Market Strategy Part 2 Flashcards
Wine firm strategic orientation positioning (3)
- Functional vs. symbolic
- customer vs. Product
- role of place
All Ten concepts to hit when marketing a product
- Product
- Price
- Place
- Packaging
- People
- Planning
- Promotion
- distribution
- Innovation
- Consumer
Market Planning Process (40
- Segmentation
- Target
- Positioning
- Marketing Mix
5 Marking types
- Mass
- Niche
- Local
- One-to-one
- by segments
Mass Marketing
Coca-cola, Model T
lower costs, more margins, but less diversity
Niche Marketing
Consumers will pay a premium price, low competition
Local marketing
single areas or shops, use of experience marketing, and cant use mass marketing
One-to-one Marketing
Clients are very involved
Segment marketing
The segment is a group of consumers with homogeneous characteristics and buying preferences. the market offer must be flexible.
The market is divided into segments, which allows for more focused marketing campaings
segmentation marketing
Segment is a group of clients with homogeneous characteristics and buying preferences. The marketing offer must be flexible.
This divides the market into segments, which allows for more focused marketing campaigns.
4 Advantages of segmentation marketing
- Identify preferences
- Identify best marketing mix
- Identify direct competitors
- Improve production creation
4 requirements of an attractive segment
- Good dimension
- Potential to produce profit
- Preference homogeneity within segment
- Growth Potential
9 segmentation variables
- Behavioral
- Consumption
- Cross-cultural
- Geographical
- Involvement
- Occasion based
- Quality
- Risk reduction
- Wine related Lifestyle
3 keys for segment success
- Measurable
- Relevant
- Accessible
4 Segmentation dimensions
- Geographic
- Demographic
- Physiographic (unobservable)
- Behavioral
