BADM 3401 Lecture Notes - Lecture 2: Lunchables, Target Market, The Home Depot
Document Summary
7-1 steps in designing customer-value-driven marketing strategy: market segmentation, targeting, differentiation, positioning, market segmentation. Dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors and who might require separate marketing strategies or mixes: market targeting: Evaluating each market segment"s attractiveness and selecting one or more market segments to offer: differentiation: Differentiating the firm"s market offering to create superior customer value: positioning. Arranging for a market offering to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers. 7-2 segmenting consumer and business markets: what customer to serve, variables of segmentation: geographic, demographic, psychographic, behavior. Today"s trend: localizing products, services, ads, promotion and. Limited amount of goods to meet needs of urban residents. Consumer needs, wants and usage rates vary closely with demo variables. Based on factors: age, life-cycle stage, gender, income, occupation, education, religion, ethnicity and generation. Lunchables for children; lunchables uploaded for teenagers, protein pack for adults.
