CB14 2 Mktg Sttgy

8/10/2019 CB14 2 Mktg Sttgy

http://slidepdf.com/reader/full/cb14-2-mktg-sttgy 1/15

IMT-N-V-14-CBConsumer Behavior

Session II

Wednesday, October 8 th 2014

Text Reference:Chapter 2, Segmentation, Targeting & Positioning

Consumer Behavior, Schiffman – Wisenblit -Ramesh Kumar, Pearson Pub.



Learning Objectives

Market Segmentation & Marketing Strategy

1. Value based Marketing2. Interrelationship between STP

3. Effective STP4. Base for Segmenting & Targeting5. Contemporary Marketing Strategies

2



2.1 Delivering Customer Value

Choose the Value

• Customer Segmentation• Focus on Target Market• Value Positioning

Provide the Value

• Develop Product & Service• Pricing• Sourcing & Making• Distribution & Servicing

Communicate theValue

• Sales Force• Sales Promotion• Advertising

Strategic Marketing Tactical Marketing

VALUE CHAIN



Strategic Planning & Marketing Strategy

CorporateLevel

• Defining the Company Mission• Setting Company Objectives & Goals• Designing the Business Portfolio

StrategicLevel

• Planning Marketing Strategies for Business Units/ Verticals• Strategic Marketing Plan

TacticalLevel

• Planning Functional Strategies for Products• Tactical Marketing Plan



Marketing Strategy

Level Time Period Nature Means Tools of Analysis

Corporate 10+ Years

StrategicPlanning STP

1) BCG Matrix

2) Michael Porter’s5 Forces Model

3) SWOT Analysis

4) Igor Ansoff’sGrowth VectorMatrix

Division 5-10 Years

SBU 2-5 Years

Product 0-2 Years TacticalPlanning

4P’s Marketing Plan



Marketing Plan

Marketing Plan 5 C’s STP 4 P’s

I. Executive SummaryII. Situation Analysis

CustomerCompanyCollaboratorsContext

Competitors

SegmentationTargetingPositioning

ProductPricePlacePromotion

III. Marketing StrategyIV. Goals & Projections

CustomerCompanyCollaboratorsContextCompetitors



V. Tactical Plans &Implementation Controls

CustomerCompanyCollaboratorsContextCompetitors



Pp 240. Marketing Plans, Marketing Management, Avinash Kapoor, Cengage Learning



2.2 STP & Inter-relationships

Segmenting:Who will be my customer?

○ Dividing market into subsets of consumers with common needs or characteristics

Targeting:How to approach them?

○ Selecting prospective customers & pursuing them○ One or more segments to pursue

Positioning:

How to entice these customers?○ Create distinct image; Choose a value proposition○ Differentiate- USP, Position & Communicate



Market Segmentation

Consumer needs differ

Heterogeneity prevails in market

Marketers find homogenousgroups in heterogeneous market

Then offer something different toeach segment

Differentiation helps productscompete

Segmentation helps identify mediaaccessed



Targeting Segments

Mass (Undifferentiated) MarketingServing whole market with one offering

Differentiated (Segmented) Marketing

Several segments with individual marketing mixes

Concentrated (Niche) MarketingOne segment, small product mix, high margins

9



Segment by Segment Invasion Plan



Positioning

Product Positioning = Product differentiation + CommunicationCustomer co-creation by customer centric organizationsProjecting image of product in consumer’s mind

Positioning more important than actual product, includes:Product features & benefitsQuality, price & packagingUse, user & applicationVersus competition

11

ConsumerPersonality

SelfImage

Product ProductPersonality

BrandPersonality



2.3 Criteria for Effective Segments/ Targeting

Identifiable Sizeable

Stable Accessible

Congruent with the company’sobjectives and resources



2.4 Bases for Segmentation

13



2.5 Contemporary Marketing Strategies

Behavioral targeting○ Personalized advertising messages

Tracking online navigationTracking Geographical locationTracking purchase behavior

Micro targeting○ Narrowcasting

Email, Mobile

Consumer generated marketing/ contentProduct placement

Celebrity endorsementsSegment/ Brand age cycle

14

Chapter 14, Contemporary Marketing Strategies, CB-Kardes,Cline.Cronley, 2008International edition, Cengage



Contemporary Marketing Strategies

WoMConsumers talking about brandsNaturally & organically occurring brand talk

Marketer involvement

Buzz Marketing○ Campaign designed to generate WoM○ Serves commercial interests for a marketer Viral Marketing○ Use of internet to spread WoM & Buzz○ Sharing & tagging over social mediaStealth Marketing○ Covert Buzz Campaign○ Consumer unaware of systematic buzz generation

Chapter 14, Contemporary Marketing Strategies, CB-Kardes,Cline.Cronley, 2008International edition Cengage

Documents

CB14 2 Mktg Sttgy