lesson 6: marketing composed, Organisational & Business Intelligence (business science) Flashcards
3.Successful customer oriented marketing implications:
- First, understand the customer in the best possible way by acquiring competences in human sciences,
- Then, manage these insights and convert them into a business plan
segmentation
classifying consumer data to quantitice and qualitive groups. Which have similat economic, demographic, psychographic, cultural, behavioral characteristics.
Big data (def)
an extremely large data sets that may be analyzed in machine learing etc. to reveal patterns, trends and associations
(mostly relating to consumer behavior)
Big data (issue)
overload of available data causes organizations to have no exuse for failures in segmenting the market.
Big data the 6 V’s
- Volume (amount)
- Variety (differents)
- Velocity (generating/ analysing speed)
- Veracity (degree can be trusted data)
- Value (insight to bussines)
- Variability (level of comparability)
why segmenting (the public)
Because not everyone:
- is searching for the same value
- want the same relationship or be approached the same way via the same chanels
differents kins of segmenting
- ‘clicks’: you know what you want
- ‘bricks’: you need some advise
6-verb segmentation
how do we segment?
hard criterea: (what is quantity observative)
- to be
- to have
- to think
soft criterea: (what demand qualitive research to segment population)
- to think
- to feel
- to want
all 6verbs: lifestyle typology
lifestyle
what customer sees as valueble resulting from the life choices they made
Typolog/ lifestyle models
result of segmentation it makes the visible in grouping
stereotype
is based on limited characteristics, prejudices
typology uses:
- data warehousing: process of collecting an managing
- data mining: process of extracting patterns of knowledge
mean approaches of data mining
- supervised techniques, are statistic
- unsupervised techniques, is to uncover the unknown
different lifestyle models
- Roper consumer stles
- VALS: values and lifestyles
the critical segment conditions
- externally heterogeneous (as little as possiple overlaps)
- internally heterogeneous (members have to share characteristics as much as posible)
- measurable (solid data warehousing, they have to be identical in size and revolution)
TARGETING
taking calculated risks to select one or more segments in line with the available resources, to reach them
why targeting?
because we…
- cannot reach everyone, limited resources
- do not wish to reach everyone, it isn’t attractive or doesn’t fit the companies image (= positive discrimination)
the 3 strategies of segmentation
we approach..;
- everyone, non- differential marketing
- some segments: differentiated marketing (multi sided/ segmented/ diversified)
- only one segment: concentrated marketing
differentiated marketing is selected in …
- multi sided: for multiple charecteristic users (eg. pet and non pet owners)
- diversified: for one characteristic user
(eg. only pet owners, doesn’t matter witch animal) - segmented: one specific charcteristic
(eg. only dog breeds)
Identified through ‘personas/e’, tailer made customer profiles that has dual purpose:
- internally, to gain customers empathy by creating a familiarity with the customer
- externally, they use a ‘mirror’ that provides the customer the feeling of understanding because they recognize themselfs
the crititcal target conditions
is it…
- external/ inetnal heterogeneous + measurable
- defensible, against competition
- substantial, large enough
- accessible, logistival accesibility
- editable, communicative accesibility
- stable, non volatile, lasting enough
Segment vs target
segment: is distiguishing with robot methodology
targeting: is about the competence of there enterperneurship
positioning
- getting a favorable place in the mind/ hearts of the target.
- the customer grands a brand/ organisation positioning
- it is a clear, distingtive and intended attidude obtained by company’s value proposition
- bt customers journey + touch points
positioned on an driver:
on what?
- functionality
- emotions
- symbolism
- costs
competitive strategy, attacking by..
- Market leader expanding
- Market challengers steal market share
- market follower possitioning (copies)
- Niche possitioning, intends to dominate specific segments of the market ( for small companies)
- motivation
market leader expands by…
- expand total market, recuits of new customers (by eg new uses of product)
- expand share, more usage of already existing customers
(by innovation, combining)
market challengers steal market share by…
- Frontal Attack: claims main value proposition
- Flank Attack: fills missing gaps in value of competitors
- Encirclement attack: frontal+ flank attack
- Bypass Attack: ‘Blue Ocean Strategy”, setting the standarts higher.
- Blitz attack: every attack in a flash, short period
- Guerrilla Attack: small attacks to harass competitor
market follower possitioning by…
- clone: legal counterfeiting
- imitate: copies some things but maintains indetification element
- adapt: slight change of competitors product to improce it and sell it predominanty
possitioning on human values of …
- Milton Rokearch Value system, RVS
- Shalom Schwartz, basic human values
possitioning on human values of …
- Milton Rokearch Value system, RVS
- Shalom Schwartz, basic human values
- Carl Yung, the archtypes, images and themes of poeple
milton rokeach RVS, two set values
terminal values: goals wanted to achieve in lifetime
instrumental values: means to achieve terminal values, models of behavior
the archtypes
- The Innocent: Exhibits happiness, goodness,
- The Everyman: Seeks connection belonging;
- The Hero: world a better place,
- The Rebel: breaks the rules;
- The Explorer: travel, risk, discovery,
- The Creator: driven to build things
- The Ruler: Creates order
- The Magician: make dreams reality,
- The Lover: intimate moments
- The Caregiver: Protects and cares
- The Jester: Brings joy, mischief.
- The Sage: insight, advisor.
