BUS 345 Lecture Notes - Lecture 7: Value Proposition, Psychographic, Liquid Oxygen

• School: Simon Fraser University
• Department: Business Administration
• Course: BUS 345
• Professor: Unknown

Document Summary

Positioning: lo-1: define the major steps in designing and consumer-driven market strategy: Segmentation: identifying small groups of buyers with distinct characteristics, need and/or behaviour and marketing to this segment. Targeting: evaluating the attractiveness of each defined market segment and selecting which of these segment(s) to enter. Differentiation: company produces a value proposition, in which it analyzes how it can provide value while differentiating itself from its competitors. Positioning: arranging for a market offering in a distinct, clear and desirable place relative to competing products: lo-2: list and discuss the major bases of segmenting consumer and business markets. Similar to the consumer business market, however there are more variables involved: customer operating characteristics, purchasing approaches, situational factors, and personal characteristics. Many companies set up many systems to deal with multiple-location customers . Buying behaviour and benefits provide the best basis for segmenting business market.