W5-6 SPECIAL TOPICS - Sheet1 (1) Flashcards
• The _______________ section is one of the most important parts of a
marketing plan. It outlines your company goals, strengths and weaknesses;
describes your target customers; identifies your important partners and
distributors; and provides an analysis of the competitive environment.
SITUATIONAL ANALYSIS
The_________________ section is one of the most important parts of a
marketing plan. It outlines your company goals, strengths and weaknesses;
describes your target customers; identifies your important partners and
distributors; and provides an analysis of the competitive environment.
SITUATIONAL ANALYSIS
The__________________ is not an easy section to write and can take several months
of research and planning. If you take the time to do it correctly, however, it
can help differentiate your product or service in the marketplace.
SITUATIONAL ANALYSIS
The major component in ____ is identifying target market
segments that are predisposed to preferring your products over those of your
competitors.
CUSTOMER ANALYSIS
A ______________ is a sub-set of a market made up of people
or organizations with one or more characteristics that cause them to demand
similar product and/or services based on qualities of those products such as
price or function.
MARKET SEGMENT
A marketing program aimed at individual segments needs
to understand and capitalize on the group’s differences and use them
strategically in all advertising campaigns.
MARKET SEGEMENT
Gender, age, ethnicity, geography and income are all market-segmenting
criteria based on .
DEMOGRAPHICS
Typical questions to ask when determining the demographics of the target market
include:
• What is the ____ range of the customer who wants my product or service?
• Which ________ would be most interested in this product or service?
• What is the ______ level of my potential customers?
• What level of _______ do they have?
• What is their ______ or ________: Are they married, single, divorced? Do
they have kids, grandkids?
• What are the ______ of my target customers?
*AGE
*GENDER
*INCOME
*EDUCATION
*MARITAL/ FAMILY STATUS
*HOBBIES
WHAT ARE THE FOLLOWING FACTORS UNDER THE CONSUMER PROFILE (4)
1.MARKET SEGMENTATION
2.MARKET NEEDS BEING ADDRESSED
3.BUYING PATTERNS
4. USAGE HABITS
is a process companies use to break up their potential
customers into different groups or segments. This allows a company to allocate the
appropriate resources to each individual segment, resulting in more accurate targeting
across a variety of marketing campaigns.
MARKET SEGMENTATION
TYPES OF MARKET SEGMENTATION (7)
Demographic segmentation
Geographic segmentation
Psychographic segmentation
Behavioral segmentation
Firmographic segmentation
Journey stage segmentation
Transactional segmentation
is one of the most common approaches, dividing target markets into
segments based on statistical characteristics of a population. Key demographic variables include:
DEMOGRAPHIC SEGMENTATION.
Key demographic variables include: (7)
• Age
• Gender
• Income
• Education level
• Employment status
• Marital status
• Family status
as the name implies, _______ organizes markets
into different groups of people based on geographic location like:
• Countries
• States
• Regions
• Cities
• Rural areas
• Neighborhoods
GEOGRAPHIC SEGMENTATION
Geographic location like:
• Countries
• States
• Regions
• Cities
• Rural areas
• Neighborhoods
while demographic traits provide the straightforward facts about
a consumer, this seeks to go deeper into qualitative attributes like:
• Personal values and attitudes
• Interests and hobbies
• Opinions and political ideologies
• Personality types and lifestyles
PSYCHOGRAPHIC SEGMENTATION
psychographic segmentation seeks to go deeper into qualitative attributes like: (4)
• Personal values and attitudes
• Interests and hobbies
• Opinions and political ideologies
• Personality types and lifestyles
rather than looking at who consumers are, this segmentation
focuses on how different segments act. This groups customers based on things like:
• Observed actions
• Usage patterns
• Spending habits
• Brand loyalty
BEHAVIORAL SEGMENTATION
behavioral segmentation focuses on how different segments act. This groups customers based on things like: (4)
• Observed actions
• Usage patterns
• Spending habits
• Brand loyalty
while demographics and psychographics apply to individual
consumers, this segmentation is the B2B equivalent for organizations. It looks at attributes about
companies like:
• Industry/verticals
• Company size/employee count
• Annual revenue/sales
• Growth rate and future projections
• Technology stack and software used
FIRMOGRAPHIC SEGMENTATION
firmographic segmentation is the B2B equivalent for organizations. It looks at attributes about
companies like: (5)
• Industry/verticals
• Company size/employee count
• Annual revenue/sales
• Growth rate and future projections
• Technology stack and software used
while behavioral data reveals where prospective buyers currently are
in their purchasing journey, this segmentation is a strategic approach to mapping out audiences
based on their specific phase in the customer lifecycle, such as:
• Awareness/education stage
• Consideration/evaluation stage
• Purchase/decision stage
• Onboarding/adoption stage
• Retention stage
JOURNEY STAGE SEGMENTATION
- sometimes referred to as “interaction segmentation”, this lens zooms in
on the specific types of interactions, transactions, and micro-behaviors a consumer has with a brand across
their entire experienced journey. Segments are defined by tangible actions and transaction events like:
• Shopping/purchase behaviors (cart abandons, repeat purchases, etc.)
• Website/app activity trails (content consumption, feature usage, etc.)
• Communication and support interactions
TRANSACTIONAL SEGMENTATION
In transactional segmentation, Segments are defined by tangible actions and transaction events like: (3)
• Shopping/purchase behaviors (cart abandons, repeat purchases, etc.)
• Website/app activity trails (content consumption, feature usage, etc.)
• Communication and support interactions
