6 Market Segmentation and Positioning Positioning is not what you do to a product; it is what you do to the mind of a prospect. Ries and Trout (1972) Learning outcomes After reading this chapter‚ you will be able to: ✔ Describe the principles of market segmentation and the STP process. ✔ Explain the characteristics and differences between market segmentation and product differentiation. ✔ Explain how market segmentation can be undertaken in both consumer and business-to-business
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Describe segmentation • Explain demographics‚ Geographic’s‚ psychographics and why companies use these methods to segment the market effectively • Explain different methods used to segment markets e.g. ACORN‚ Mosaic • Explain the different target markets of McDonalds – identify 4 product ranges and describe in detail the target market for each product • Describe the different needs of each target segment • Use examples specific to McDonalds Segmentation Market segmentation is where
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Market Segmentation The purpose for segmenting a market is to allow your marketing/sales program to focus on the subset of prospects that are "most likely" to purchase your offering. If done properly this will help to insure the highest return for your marketing/sales expenditures. Depending on whether you are selling your offering to individual consumers or a business‚ there are definite differences in what you will consider when defining market segments. Market segmentation is a marketing
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released in 1989 by the six major studios. 5. Assume that a maximum of ten sequels can be made in any given year. Using the same decision-tree approach‚ what would you estimate to be the per-movie value of the sequel rights to the entire portfolio of 99 movies released in 1989 by the six major studios? 6. Using the Black-Scholes approach‚ calculate the per-movie value of the sequel rights to the entire portfolio of 99 movies released in 1989 by the six major studios. (Assume once again that
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IBS Bangalore Session Plan Semester : I Course : Marketing Management - I Course Code : SLMM 501 Credits : 3 Class : 2015 Section : A Instructor : Shailendra Dasari S.No Topic(s)/Activities Identified Cases Source Reference to PTB Additional Readings/Questions for Discussion Learning Outcomes 1 Introduction to Marketing Ch1 PPt 1 Understand 1.Marketing Concept 2.Evolution of Marketing 3.Marketing Mix Discuss 1.Marketing Challenges for the 21st
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BUSN 402 Market segmentation is a marketing strategy that involves dividing a board target market into subsets of consumers who have common needs‚ And then be designed and implemented to target these specific customer segments‚ addressing needs or desires that are believed to be common in this segment‚ using media that is used by the market segment. While there many theoretically ideal market segments‚ in reality every organization like Orkut engaged in a market will develop
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Hollywood Studio System Studios have less control over films‚ when released Multiplexes have their own “popcorn economy” model Studio System Three Conflicting Multiplex Businesses 1. Concessions 2. Movie Exhibition 3. Advertising What is Popcorn Economy? “The more people we move past the popcorn‚ the more money we make” (p.196). Conflicting interests of studios and multiplexes In 2001‚ average time a studio film remained in multiplexes was only three weeks. Word of mouth Advertising
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On April 8th‚ 2016‚ I attended the “IU South Bend Piano Studio” concert at IUSB. It was performed at Louise E. Addicott and Yatish Joshi Performance Hall in Northside Building. The concert music was picked from a selection of composers who composed during the Classical and Romantic period. There were music pieces (selected movements) by Ludwig Beethoven‚ Robert Schumann‚ Johannes Brahms‚ Sergei Prokofiev‚ and‚ Claude Debussy. Current students from the IUSB Music department were the ones playing the
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Market segmentation is the division of the total market into smaller‚ relatively homogeneous groups. It is necessary to segment or classify the various people or institutions in order to identify those with sufficient purchasing power‚ authority‚ and willingness to buy. Because no single marketing mix can satisfy all marketing segments‚ it is important to establish target markets and apply the appropriate marketing strategies in order to maximize market share. Since 1887‚ The Raleigh Bicycle
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content 1. Introduction: 4 2. Market Segmentation 5 3. The Concept of Market Segmentation 5 4. The Process of Market Segmentation 5 5. Demographic Segmentation 5 6. Geographic Segmentation 5 7. Psychographic segmentation 6 8. Behavioural Segmentation 6 9. Market targeting 7 10. Market Segmentation Limitations 8 11. The Positioning Concept 9 12. Positioning Strategies 10 13. References 11 Abstract This paper looks at the use of market segmentation as a tool for improving customer satisfaction
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