Flashcards
4 Segmentation and Positioning
Cards in this deck (38)
- 1What are the benefits of segmentation?
- 2What market types are there?
- 3What is a disaggregated market?The characteristics of individual customers are understood
- 4What is a segmented marketcustomers are grouped into segments on the basis of having similar characteristics
- 5what is a target marketOne judged to be the most attractive and a marketing mix strategy is designed for that target market
- 6What is the typical process of segmentation?
- 7What are the features of 'behavioural' in the context of market segmentation processBenefits Sought
Purchase Occasion
Purchase Behaviour (early adopters etc)
Usage (heavy, light etc)
Perceptions, attitudes, beliefs and values - 8What are the features of 'Psychographics' in the context of the market segmentation processLifestyle (way of life, interests, opinions)
Personality (self expression)
Demographics (age, gender, lifecycle age) - 9What are the features of 'Profile' in the context of the market segmentation processSocio-economic variables (social class, education, income)
Geographic - 10What are the 'digital' influences on market segmentationOnline may be different to offline segments
New variables of interest
Difference in the importance of other segment features
May open up new segment opportunities (connecting geog. diverse niches) - 11What is organisational segmentation?The grouping of organisations, not individual consumers
- 12What is macrosegmentation?based on characteristics of the organisation, e.g. size, industry, location
- 13What is microsegmentation?characteristics of decision making in the organisation, e.g. buy class, choice criteria etc.
- 14What is the organisation segmentation process?
- 15What is organisation segmentation criteria?
- 16What is the purpose of segmentation?Choosing with segment/s to target!
Based on two factors:
Market Attractiveness
Capability to compete - 17What abilities does an organisation need to compete?Exploitable marketing assets
Cost advantages
Managerial capabilities and commitment
Technological edge - 18What are some key market factors?Segmentation size and growth rate
Potential profitability
Price sensitivity
Bargaining power of customers
Bargaining power of suppliers
Barriers to entry and exit - 19What are some key competitive factors?Nature of competition (aggression etc)
Likelihood of new entrants
Competitive differentiation potential - 20What are some key Political, Social and Environmental factors?Politics (regulations, instability)
Social trends (new market segments?)
Environmental Issues (anti-animal testing etc) - 21What is this?Directional Policy Matris (GE Matrix Plots)
Market Attractiveness vs Business strengths.
Used to assess target market
- 22How do you apply the DPM?Need more information.
- 23What are the caveats for using DPM?Subjectivity in selecting factors and rating/weighting factors
Focus on 'attractive' segments
Attractiveness vs positioning relationship not proven
Over-reliance on 'numbers' - dismissing or discarding small but strategically useful segment - 24List possible targeting strategiesTarget None
Undifferentiated (Mass)
Differentiated
Focus/Concentrated/Niche
Customised Marketing - 25List features of Undifferentiated MarketingUsed if no strong segments can be found
Can also be used to focus on low-cost
Lack of market orientation can mean segmentation opportunities not seen
Many markets 'start' here and become differentiated as time goes on - 26List features of Differentiated MarketingDeveloping separate marketing mixes for different segments
Can lose economies of scale - 27List features of Focused MarketingSometimes called niche marketing, focusing on one element
Works well for firms of limited resources - 28List features of customised marketingWhen individual requirements are unique, and it is feasible to develop a separate marketing mix for each
Most common when there are a small number of very high-value customers
Common in high-value services and organisational markets. - 29What is positioning?The position the company wants to occupy in each segment.
Products position is the way the product is defined by the consumers on important attributes. - 30What are the features of successful positioning?
- 31What is perceptual mapping and how is it used?Used to get a feel for a brand or products position in the marketplace.
Tasks - indentify competitor brands, important customer attributes, consumer ratings and plot on two dimensional matrix - 32What is this?Perceptual Map of Soft Drinks
- 33What is this?Perceptual Map of Soft Drinks
- 34What is this?Spidergram - added feature importance dimension against competitors
- 35What are the issues with using perceptual maps and spidergramsGIGO
Need useful criteria to collect data about
Get good data from consumers
Can easily mislead - 36What are positioning risks and errors?
- 37What is a positioning statement?A positioning statement is a statement that summarises company or brand positioning
To (target segment ad need) our (brand) is (concept) that (point of difference) - 38Describe the repositioning matrix
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- Marketing Flashcards on 4 Segmentation and Positioning, created by Jamie Keith` on 29/08/2018.
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- Jamie Keith`
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