ASSIGNMENT 8.1 – MARKET RESEARCH PART 3

HƯƠNG GIANG – HỒNG NGỌC

MARKETING PROCESSWhere segmentation and brand equity in Marketing process

STPSegmentation, targeting, positioning

Marketing Mix

Implementation CONTROL

Choosing where to focus on whole mass market.

Researching to have overview of market and customer, mapping and

structuring all customer into group for more precise

understanding and better satisfied customer needs.

Choosing where to focus on whole mass market.

SEGMENTATION TARGETING POSITIONING

•Define market•Create market segmentation•Evaluate on criteria for segmenting

•Develop positioning strategies (Insight, Positioning strategies)•Develop and implement marketing mix (6P, etc.)

•Evaluate sizing , effectiveness, potentials•Selecting focus segmentation

Brand Equity will be created after completing these steps.

Review performance and receive feedbacks

from consumers

Measure Brand Equity through index and

researches

BRAND TRACKING

• To see brand values and effectiveness of marketing process

SEGMENTATION

MARKET SEGMENTATION - the process of splitting customers, or potential customers, in a market into different groups, or segments, within which customers share a similar level of interest in the same, or

comparable, set of needs satisfied by a distinct marketing propositioning

What is market segmentation , how many levels of it, and criteria in a market segmentation

Segment of one.

Group of buyers who require very specialized products or services

Narrower groups withinsegments

Homogenous groups havingsimilar characteristics

One standardized product for all.Mass Market

Market Segments

Market Sub – segments

Niche Market

Customized Marke

t

LEVELS OF SEGMENTATION

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Ma

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Low

High

•Geography - your location and the location of your target customers

•Demographics - statistical characteristics of target market

•Psychographics - characterizes consumers by psychological or emotional traits

•Lifestyle - focusing on the activities your target participates in

•Life stage - demographic and psychographic characteristics that groups have in common to delineate where or when your targets are in their life cycle

CRITERIA IN A

SEGMENTATION

SEGMENTATIONHow a market segmentation is processed

DEVELOPING SEGMENTSPRIORITIZING AND SELECTING

SEGMENTS

STAGE 1 STAGE 2 STAGE 3

Defining the marketthe scope of Market

Market mappingstructure and decision -

makers

Who specifies whatdecision – makers and their

purchases

Whythe needs of decision –

makers

Forming segmentsCombining like-minded

decision-makers

STAGE 4

Segment attractiveness Measuring segment potential

Company competitiveness Company strength by segment

Measurements to success

Homogeneous Heterogeneous

Accessible Substantial

Actionable/practical

MeasurableSUCCESSFUL SEGMENTATION

SEGMENTATIONExample

•Consumer in same group shares similar traits/needs.

•Consumer in different groups is relatively different.

•Able to measure size of segmentation.

•Each segmentation is big enough for biz opportunities (not in size but in potential profit)

•Each segmentation is reachable (in geography, distribution, etc.)

•Can make distinctive decision of marketing on each segmentation

Emerging Adults (Uni/ 1st jobber) Newly Wedding Starting Family(Young Mom)

Growing Families(Kid > 5)

Mindset ME onlyI have high hope for the future, I control my life

TWO of USExcitement (wed Preparation)

My Baby ONLYMy baby is my life

FAMILY WellbeingIt’s time for me again

Tension I still figuring out my career, New social environment, love

Need to compromise Personal time/ Lifestyle

Overwhelmed by new experienceNo time at all

Family FinanceGet back her confident

Need I need to be well present in front of others

Need to look my bestNeed to start taking care of Household

I want to get back to my ‘Pre-Wedding/ Pre-natal lookNeed to handwash everything

I want to look younger than my age

I need to balance household spending

Category/Product

Hair: Conditioner, Treatment, styling

Hair: treatment, Premium Hair Hair: Hairfall control Hair: Family product Package (Hair-care that can use for whole family)

Consumer segmentation for hair-care and Feminine product (women) - Segmented by: Life-stage (Affecting factor to hair-care habit: Time, Attitude for personal image)

This is a good segment because

BRAND EQUITYDefinition and benefits of brand equity

BRAND EQUITY - Depict process of creating brand’s

value in consumer mind only

There are 2 schools of brand equity

KELLER AAKER

BRAND EQUITY - Depict process of creating brand’s values in consumer mind and how brand’s value to company

In conclusion, BRAND EQUITY - The tangible and intangible value that a brand provides positively or negatively effects to an

organization, its products, its services, and its bottom-line derived from consumer knowledge, perceptions, and experiences with the brand

Benefits of brand equity

FINANCIAL BENEFITINCREASING REVENUE

AND REDUCE COSTS

NAVIGATING THROUGH MACRO-

EVIRONMENTAL CHALLENGES

WHEN TO USE- when measure health check in

consumer’s mind

WHEN TO USE - when measure how effective company is running in operation to create relevant brand love within

consumer mind

BRAND EQUITYElements and how to measure brand equity

KELLER MEASUREMENTS

I know you’re good(Trial)

I know you(Awareness)

I love you and will choose you (Loyalty)

I like you after knowing you’re good(Liking)

Use the right channels or effective channels

CONSUMER BASED

Brand resonance

Consumer judgments

Consumer feelings

Brand performance

Brand imagery (Index: free

association, interview)

Brand salience(Index: TOM, spontaneous, Familiarity, Aided

Recall, Unaided recall)

Create right message and advantages

COMPANY BASED

AAKER MEASUREMEN

TS

Brand awareness (Index: Top of Mind, Aided

Value, Value perceived, Penetration)

Perceived quality (Index: price, product test)

Brand loyalty(Index: : re-purchases, BUMO)

Brand Association(Index: brand judgment, brand

feelings)

Other proprietary(competitive advantage)

Elements

BRAND EQUITYExample of brand equity model

Brand resonance: Affiliation, loyalty, engag

ed community

Consumer judgments:High quality,

competitive, satisfaction

Consumer feelings:Adventure, sexy, social

approval, exciting

Brand performancesweeter taste, less

fizzy, refreshing

Brand imagery :Teens, young, urban,

edgy, joker

Brand salience

Fun, community, main soda, fresh drink

PEPSI BRAND EQUITY PEPSI BRAND EQUITY MEASUREMENT IN 2000

Stakeholder Measure

Customer commitment

-Quality (product blind test)-Market share-Retailer and customer attitude (monthly)

Employee motivation Same questionnaire in every country, rolling monthly results

Resource provider Shareholder valuesFinancial P&L

BRAND EQUITYExample of brand equity measurements

A product test Consumer attitudes

Brand image Brand performance