Positioning Services + TB Chapter 3 Flashcards
Customer analysis
Overall examination of market characteristics
Customer needs and related characteristics and behaviours
Competitor analysis
Current positioning
Strengths and weaknesses
Company analysis
Current brand positioning and image
Resources
Limitations
Segmentation
Dividing population of possible customers into groups with common service-related characteristics
Targeting
Choose one/more segments to focus on
Positioning
Unique place in the minds of customers
Differentiation forms first step to creating unique positioning
Segmenting service markets
Market segmentation such as demographic, psychographic, behavioural, need-based, etc
Important service attribute
May not always be the decider for a service
eg: safety on long distance flights
Determinant attribute
Less important service characteristics that are however still important to determine a buyers choice
eg: large leg room on long distance flights
Segmenting based on service levels
Easily quantifiable attributes are easier to understand and more generalized
Qualitative attributes are ambiguous and subject to individual interpretation
Four focus strategies to narrow down target segments
Fully focused
Market focused
Unfocused
Service focused
Fully focused strategy
Provides a limited range of services to a narrow and specific market segment
eg: PJ charter services focus on high-net-worth individuals or corporations
Market focused strategy
Offers a wide range of services to a narrowly defined target segment
eg: boxing, personal training, etc targeted to gym-goers
Service focused strategy
Offer a narrow range of services to a fairly broad market
eg: starbucks
Unfocused strategy
Serve broad markets and provide a wide range of services
Generally not a good idea for firms unless government ran