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MODULE – 2 (HEALTHCARE MARKETING AND PATIENTS RELATIONS MANAGEMENT. S.No . - 2/4 LECTURE TITLE – MARKET SEGMENTATION & CONSUMER BEHAVIOUR. Target marketing. ICRI, Mumbai. We have already studied- Levels of market segmentation Segment marketing Niche marketing Local marketing - PowerPoint PPT Presentation
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S.No. - 2/4LECTURE TITLE – MARKET
SEGMENTATION & CONSUMER BEHAVIOUR
MODULE – 2 (HEALTHCARE MARKETING AND PATIENTS RELATIONS MANAGEMENT
1
Target marketingICRI, Mumbai
We have already studied-
Levels of market segmentation Segment marketing Niche marketing Local marketing Individual customer marketing
Target marketingA company cannot serve all the customers in
a broad market. Customers are numerous and diverse in their buying requirements.
So it needs to identify segments it can serve effectively.
Sellers distinguishes segments, and develop products and programs tailored to each.
Steps1) Need based segmentation
2) Segment identification
3) Segment attractiveness
4) Segment profitability
5) Segment Positioning
3) Marketing mix strategy - 5Ps etc
6) Segment acid test
Summary of steps• Segment Size and Growth– Analyze current segment sales, growth rates, and expected
profitability for various segments.
• Segment Structural Attractiveness– Consider effects of: competitors, availability of substitute
products, and the power of buyers & suppliers.
• Company Objectives and Resources– Examine company skills & resources needed to succeed in that
segment(s).– Offer superior value & gain advantages over competitors.
Step 2. Market TargetingEvaluating Market Segments
Segment Size and GrowthAnalyze current sales, growth rates and expected
profitability for various segments.Segment Structural Attractiveness
Consider effects of: competitors, availability of substitute products and, the power of buyers & suppliers.
Company Objectives and ResourcesCompany skills & resources needed to succeed in
that segment(s).Look for Competitive Advantages.
7
Target marketing
P1
P2
P3
M1 M2 M3• Single segment concentration- Porsche concentrates only on
sports car market. • In this form acquires strong
knowledge of needs and achieves strong market presence.
• It also enjoys operating economies through specialising its production, distribution and promotion.
• It becomes leader and enjoys high return on investment.
- Risks involved – a particular market can turn sour
Target marketing Selective specialisation-
P1
P2
P3
M1 M2 M3
• firm selects a number of segments , each objectively attractive and appropriate. There may be little or no synergy among segments but each promises to be a moneymaker.
Target marketing Product specialisation-
P1
P2
P3
M1 M2 M3firm makes a product that it sells to various segments. Like microscope manufacturer.
Target marketing Market specialization-
P1
P2
P3
M1 M2 M3
• The firm concentrates on serving many needs of a particular group. An example would be a firm that sells an assortment of products only to universities.
Target marketing -Full market coverage-
P1
P2
P3
M1 M2 M3
• the firm attempts to serve all the customer groups with all the products they might need.
only large firm can undertake full market coverage strategy like coca cola or IBM.
FULL COVERAGE• It can be done in 2 ways a) undifferentiated
ignores segment difference, and try to appeal whole market.
It relies on mass distribution and mass advertising. b) differentiated marketing-
The firm operates in several market segments and designs differentiated product for each segment. GM does it as it says it produces car for every- Purse, purpose and personality.
Concerns with targeting• Product modification costs- modifying a
product to meet different market segment requirements usually involves R&D, engineering .
• Manufacturing costs:- unless the product is sold in large volume it is expensive to produce different products in varying units.
• Inventory costs:- it is costly to manage inventories of many products
Concerns with targetingPromotion costs:- company has to reach
different market with different promotion programs
Admin costs:- the company has to develop separate marketing plan for each market segment. This requires extra research, analysis, planning , channel arrangement.
Process flow
Now we will move to positioning
PositioningIs the act of designing the company’s offering
and image to occupy a distinctive place in mind of target market.
Sporty drink
Bujhaye pyaas baki all bakwaas
Product positioning StrategiesBy attribute or benefit-
sugar freeBy use or application-
easy to use By price or quality-
Nirma super By user – Bikes segment.
Mileage or race By competitor-
coke and pepsiBy product or service class-Dalda alternative
to ghee. Cheaper and healthier.
Competitive advantage by positioning• Product’s Position - the way the product is defined by
consumers on important attributes.• Product is compared with competing products.• Simplifies the buying process by helping consumers
organize products into categories.• Marketers must:– Plan positions to give their products the greatest advantage
in selected target markets,– Design marketing mixes to create these planned positions.
Choosing a Positioning Strategy
20
Step 2. Choosing the Right Competitive Advantage
Step 3. Communicating and Delivering the Chosen
Position
Step 1. Identifying Possible Competitive
Advantages
Identifying Possible Competitive AdvantagesKey to winning and keeping customers is to
understand their needs and buying processes better than competitors do and deliver more value.
Competitive advantage is an advantage over competitors gained by offering consumers greater value, either through lower prices or by providing more benefits, that justify competitive advantage,
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Identifying Possible Competitive Advantages
22
ServicesDifferentiation
i.e. Delivery, Installation, Repair Services,
Customer Training Services
Product Differentiationi.e. Features,
Performance, Style & Design, Attributes
People Differentiation
i.e. Hiring, Training Better People Than
Competitors Do
ImageDifferentiationi.e. Symbols, Characters
ChannelDifferentiation
examplesReliance Mobile- 100 million customers &
counting - diverse segmentsTATA Photon + - positioned ‘speed” as its
USP – giant banner with device from an aircraft at Banglore stadium cricket match- grab maximum eyeballs
INQ cell phone – Dhoni riding on the back of a truck in a supposedly boring journey. Talks to all his friends – social networks. Positions INQ well among the youngs.
TATA ACE – chhota haathi – LAKME’ Fruit Blast- “Kare Aapke chehre ki gahri
safia aur lautaye nami lautaye
What 4 major positioning errors should a company strive to overcome? Under positioning- buyers have vague idea of
brand.Over positioning- buyers have a narrow image
of brand.Confused positioning- company making too
many claims or changing brand position frequently.
Doubtful positioning- buyers find it hard to believe the brand claims.
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ISSUES WITH POSITIONING
Choosing the Right CompetitiveAdvantages
25
CriteriaFor Determining
Which DifferencesTo Promote
AffordableAffordable SuperiorSuperior
ProfitableProfitable
PreemptivePreemptive
DistinctiveDistinctive
ImportantImportant
CommunicableCommunicable
Selecting an Overall Positioning Strategy
26
Communicating and Delivering the Chosen PositionCompany must take strong steps to deliver
and communicate the desired position to target consumers.
All the company’s marketing mix must support the positioning strategy.
Positioning strategy must be monitored and adapted over time to match changes in consumer needs and competitors’ strategies.
27
Reviewing the ConceptsThree steps of target marketing: market
segmentation, market targeting, and market positioning.
List and discuss the major levels of market segmentation for segmenting consumer.
28
Explain how companies identify attractive market segments and choose a market-coverage strategy.
Discuss how companies can position their products for maximum competitive advantage in the marketplace.