Session 3: segmentation and Targeting II Flashcards
Adoption process:
Need recognition gap Search gap Valuation gap Adoption gap Usage gap Retention gap
Describe the adoption process
Realize need Consider Prefer Adopt Use Continue to use
Retention curve illustrates what
How you retain a cohort over time. Usually there is an initial drop off and then a declining share of returning users til it gets to its terminal value
Retention wheel
Building habitual use out of a product
Segmentation
Dividing the marketplace into distinct sunsets of consumers w/similar needs and wants and then targeting them with a different marketing mix
What is Slide
Slide is used to segment
Stable Large Identifiable Distinctive Exhaustive
A priori vs benefit based segmentation
A priori - demographic or predicting categories
Benefits based - wants or needs of the customer
Targeting
Determine which segments to serve and which ones to ignore
Targeting selection criteria
Potential
Fit
Defensibility
Positioning
Establishing a value prop in consumers minds
Positioning statement, what goes into it:
For (target) Who (needs) (Product) is a (category) That (provides benefit) Unlike (primary competitor alternative) Our product (point of difference)
Positioning reflects ___
How people think about their wants and needs
Effective positioning considers ____
Competitors. You have to provide a frame of reference (parity) and set yourself apart (differentiation)
It is difficult or easy to steal someone’s positioning
Difficult. Also is difficult to change your own positioning
