References Flashcards
List of references (11)
Aljukhadar and Senecal, 2011 Bonoma and Shapiro, 1984 Cahill, 1997 Camilleri, 2017 Dibb, 1991 Reiss and Trout, 2001 Damra, 2017 Baines et al., 2008 Ao, 2018 Dibb and Simkin, 1991 Dibb and Simkin, 2001
Aljukhadar and Senecal, 2011 (Segmentation advantage)
Segmentation can be used to identify and better understand segment motives characteristics which helps develop strategic advantage
Aljukhadar and Senecal, 2011 (online)
Online consumers behave differently, with age, gender and income being the most influential factors
Bonoma and Shapiro, 1984 (product portfolio)
Segmentation allows the business to implement separate marketing strategies for their products/brands that deliver uniquely sought benefits to each market segment chosen as significant for serving
Cahill, 1997 (focus)
Targeting forces a strategic focus for the firm forcing to look towards a realistic approach to its customers which begins outside with the customers and the market to ensure their need are met
Cahill, 1997 (David and goliath)
Segmenting and building a segment into a true target, developing not market share but share of market in the segment, allows a firm to own a segment
Camilleri 2017 (lucrative)
Segmentation identifies the most lucrative segments for growth and profit who will then be targeted
Camilleri, 2017 (efficiency)
A main benefit of segmentation is that it leads to better exploitation of resources, resulting in the development of a more finely-tuned marketing programme
Dibb, 1991
It is impossible to satisfy all customers in a market with a single product or service
Dibb, 1991 (Positioning)
Product differentiation is widely viewed as the key to successful retail marketing; the brand must stand out and have a clearly defined position
Define Product Re-Positioning? (Baines et al., 2008)
Most marketers need to be alert and be prepared to reposition their brands as the relative position occupied by brands, in the minds of customers, will be challenged and shifted around on a frequent basis. (Baines et al., 2008)
Why is Re-Positioning Difficult? (Baines et al., 2008)
Repositioning is difficult to accomplish often because of the entrenched perceptions and attitudes held by buyers towards brands and the (vast) media resources required to make the changes (Baines et al., 2008)
Define Product Positioning? (Reiss and Trout, 2001)
The way the product is defined by customers on important attributes - the place the product occupies in consumers’ minds relative to competing products (Reiss and Trout, 2001)
Zune Example (Damra, 2017)
Microsoft’s marketing of the Zune was too narrowly focused. The marketing team targeted their campaigns toward a specific audience, perhaps those who are anti-mainstream and want to stand apart from the crowd. The only appeal to these folks seemed to have been that the Zune was not the iPod, since everyone else had the iPod. The marketing team ended up missing out on an opportunity to engage a broader audience of music listeners by aiming at this niche group.
Arch Deluxe Burger (Ao, 2018)
The goal of the Arch Deluxe was to market McDonald’s fine cuisine to the urban adult demographic. Unfortunately, adults weren’t interested in paying more for slightly different burgers. The fact that McDonald’s is a fast food chain limited its main target audience to those who takes cheap and convenience over sophistication and fine taste. In any case, people who want to eat refined food and don’t care about the price, would rather go to a formal dining restaurant instead of a fast food place
Another reason it failed was that the market campaign contradicted McDonald’s original brand of “Child-friendly” and “Family-friendly”. Designing a new burger that excludes children and emphasizing luxury consumer groups caused the lost of trust and broke the bond with former customers
