Fichas
3.3.3: Making marketing decisions: segmentation, targeting, positioning
Fichas del conjunto (12)
- 1Segmenting The Market:-Niche: small part of an existing market
-Mass: a whole market - 2Demographic Segmentation:-Age
-Gender
-Occupation
-Socio-economic group
-Income
-Geographical region - 3Socio-economic Group:households that are characterised by the major earner's job
- 4Behavioural Segmentation:-lifestyle
-level of brand loyalty
-what they're looking for in a product
-purchase occasion (when do they buy it) - 5Benefits of Market Segmentation:-market research (more specific so its better and cheaper)
-learn more about specific market
-allows specific targeting of a product/service for advertising
-allows brand building
-allows the business to design the marketing mix more effectively - 6Drawbacks of Market Segmentation:-hard to identify target market
-miss out on other markets
-too specialised
-have to keep market research up to date constantly - 7Market Targeting:deciding the market segments the company will aim to sell their product/service to (target market)
- 8Market Positioning:where a firm's product/service lie within the market in relation to rivals
- 9Marketing Aim:*is to create a USP through...
segment->target->position - 10Niche Marketing: (Advantages/Disadvantages)Advantages:
-build customer loyalty
-may have lower level of competition
-may acquire large market share
-easier to set up
Disadvantages:
-other larger rivals could enter the market
-smaller scale may mean smaller profits
-might be maximum customer base (max sale level)
-changing tastes of customers might impact drastically - 11Mass Marketing: (Advantages/Disadvantages)Advantages:
-large scale production will have cost advantages (economies of scale)
Disadvantages:
-lots of competition
-products have to appeal to a wide range of tastes/people - 12Economies of Scale:when costs fall as output rises
Información
- Descripción
- market segmentation (types/advantages/disadvantages), market targeting, market positioning, market aim, economies of scale
- Creado por
- Ashleigh-Jade Jones
- Visitas
- 50
- Valoración