Ebook Marketing management - A relationship approach (2nd edition): Part 2
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Ebook Marketing management - A relationship approach (2nd edition): Part 2
CHAPTER 8Segmentation, targeting,positioning and competitive strategiesLEARNING OBJECTIVESAfter studying this chapter you should be able to:•understan Ebook Marketing management - A relationship approach (2nd edition): Part 2nd the importance and meaning of market segmentation•explain the principle of STP•identify and discuss the various bases for segmenting B2C markets and B2B markets•outline how firms select target segments•explain the differences between various strategic approaches to target marketing, undifferentia Ebook Marketing management - A relationship approach (2nd edition): Part 2ted, differentiated and concentrated marketing•comprehend what is involved in positioning a product or service against competitors•explain the differeEbook Marketing management - A relationship approach (2nd edition): Part 2
nce between positioning in the B2C market and B2B markets8.1 INTRODUCTION.Market segmentation has long been considered one of the most fundamental conCHAPTER 8Segmentation, targeting,positioning and competitive strategiesLEARNING OBJECTIVESAfter studying this chapter you should be able to:•understan Ebook Marketing management - A relationship approach (2nd edition): Part 2in marketing theory and in real-world applications. It not only provides one of the major ways of implementing the marketing concept but also directs a firm's marketing strategy and resource allocation among different markets and products..Market segmentation is the process of dividing a market into Ebook Marketing management - A relationship approach (2nd edition): Part 2 distinct groups of buyers with similar requirements. It has become increasingly important in the development of marketing strategies for at least thrEbook Marketing management - A relationship approach (2nd edition): Part 2
ee reasons.Find more at www.downloadslide.comBrand extension Using a successful brand name to launch a new or modified product in a new category.MicroCHAPTER 8Segmentation, targeting,positioning and competitive strategiesLEARNING OBJECTIVESAfter studying this chapter you should be able to:•understan Ebook Marketing management - A relationship approach (2nd edition): Part 2d organisational innovativenessSTP-approach Principle of segmentation, targeting and poor tiomng in order to select a d Stine t group of consumers ttho require a special marketing mix.CHAPTER 8 SEGMENTATION. TARGETING. POSITIONING AND COMPETITIVE STRATEGIES 2831Population growth has slowed, and more Ebook Marketing management - A relationship approach (2nd edition): Part 2 product markets are maturing. This, in turn, sparks more intense competition as firms seek growth via gains in market share as well as in an increaseEbook Marketing management - A relationship approach (2nd edition): Part 2
of brand extensions.2There is an important trend toward micro-segmentation (one-to-one marketing). This trend has been accelerated in some industriesCHAPTER 8Segmentation, targeting,positioning and competitive strategiesLEARNING OBJECTIVESAfter studying this chapter you should be able to:•understan Ebook Marketing management - A relationship approach (2nd edition): Part 2, many car companies are using a flexible production system that can produce different models on the same production line. This enables the company to make cars to order. More specialised media have also sprung up to appeal to narrow interest groups, e.g. special interest magazines, radio programmes Ebook Marketing management - A relationship approach (2nd edition): Part 2, cable TV, Internet (Schmid Ct ill., 2008).3Expanding disposable incomes, higher educational levels, and more awareness of the world have produced cuEbook Marketing management - A relationship approach (2nd edition): Part 2
stomers with more varied and sophisticated needs, tastes and lifestyles than ever before. This has led to an increase in goods and services that compeCHAPTER 8Segmentation, targeting,positioning and competitive strategiesLEARNING OBJECTIVESAfter studying this chapter you should be able to:•understan Ebook Marketing management - A relationship approach (2nd edition): Part 2proach to define unique customer groups, select those they wish to serve, and then integrate the marketing mix to establish a unified image of the product relative to the competition (Jonk et al., 2008).Pitfalls with segmentationDespite all the advantages with market segmentation there are also prob Ebook Marketing management - A relationship approach (2nd edition): Part 2lems involved (Gibson, 2001).Segmentation is desenptive not predictiveSegmentation and the research to implement it are designed to describe markets aEbook Marketing management - A relationship approach (2nd edition): Part 2
s they exist today. In contrast decisions are based on the expectation of a certain favourable future outcome, and the only information useful to the CHAPTER 8Segmentation, targeting,positioning and competitive strategiesLEARNING OBJECTIVESAfter studying this chapter you should be able to:•understan Ebook Marketing management - A relationship approach (2nd edition): Part 2cision is made, is irrelevant to making a decision about future events.Segmentation assumes homogeneitySegmentation asserts that customers are so different they cannot be averaged and therefore must be classified into segments. However, within defined segments, it assumes customers are not different Ebook Marketing management - A relationship approach (2nd edition): Part 2 and can be averaged.In fact, the fundamental assumption of customer heterogeneity is true, radically true. Customers are different not only at the maEbook Marketing management - A relationship approach (2nd edition): Part 2
rket level, but at the segment level. This heterogeneity is apparent to anyone looking at the individual respondents in any study. The fact that we seCHAPTER 8Segmentation, targeting,positioning and competitive strategiesLEARNING OBJECTIVESAfter studying this chapter you should be able to:•understan Ebook Marketing management - A relationship approach (2nd edition): Part 2e target segment, and segments with strong competitors are disqualified. However, once the target segment is selected, competitors are ignored.The consequences of ignoring competitors can be dangerous. For example, Coca-Cola found that cola drinkers preferred sweeter cola. Repeated paired product co Ebook Marketing management - A relationship approach (2nd edition): Part 2mparison tests showed the new sweeter Coca-Cola was preferred over regular Coke. Yet, the new sweeter Coca-Cola failed because the market already hadEbook Marketing management - A relationship approach (2nd edition): Part 2
a sweeter cola - Pepsi Cola.Segmentation may define the wrong segmentThe target segments finally selected in traditional segmentation research may excCHAPTER 8Segmentation, targeting,positioning and competitive strategiesLEARNING OBJECTIVESAfter studying this chapter you should be able to:•understanCHAPTER 8Segmentation, targeting,positioning and competitive strategiesLEARNING OBJECTIVESAfter studying this chapter you should be able to:•understanGọi ngay
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