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Market Segmentation, Positioning and the Value Proposition

Market Segmentation, Positioning and the Value Proposition. Chapter 6 with Duane Weaver. OUTLINE. Marketing Strategies Identifying Target Segments Prioritizing Target Segments - SWOTs Positioning Strategy Value Proposition Seminar Discussion. Marketing Strategies. Target Segment

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Market Segmentation, Positioning and the Value Proposition

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  1. Market Segmentation, Positioning and the Value Proposition Chapter 6 with Duane Weaver

  2. OUTLINE • Marketing Strategies • Identifying Target Segments • Prioritizing Target Segments- SWOTs • Positioning Strategy • Value Proposition • Seminar Discussion

  3. Marketing Strategies • Target Segment • subgroup chosen as focal point for the marketing program and advertising campaign • Positioning • Process of designing and representing one’s product or service so that it will occupy a distinct and valued place in the target consumer’s mind • Positioning Strategy • Selection of key themes or concepts the organization will feature when communicating distinctiveness to a particular target market segment. • STP marketing • Segmenting • Targeting • Positioning

  4. Identifying Target Segments • Market Segmentation • Usage Segmentation(Patterns and levels of commitment) • Heavy Users • Non-users • Brand-loyal users • Switchers/Variety Seekers • Emergent Consumers • Demographic Segmentation • Psychographic Segmentation – Lifestyle Segmentation • AIOs (activities, interests, opinions) E.g. p. 221-222 Benefit Segmentation B2B Segmentation vs. B2C

  5. Prioritizing Target Segments • Use a SWOT to position yourself amongst competitors based on your segmentations.

  6. Positioning Strategy • Committed to creating substantive value • Must be consistent internally and consistent over time • Simplicity and Distinctiveness • Ability must match message (promise) strategy • Positioning Schemes (which is best and why?) • Benefit positioning • User positioning • Competitive positioning • Repositioning

  7. Value Proposition “A brand’s value proposition is a statement of the functional, emotional, and self-expressive benefits delivered by the brand that provide value to customers in the target segment. A balanced value proposition is the basis for brand choice and customer loyalty, and is critical to the ongoing success of a firm.” (O’Guinn, Allen, Semenik 4E, p. 234)

  8. THANK YOU! • Discussion Questions: • P. 238 • Q1 – STP factors • Q2 – Persuasion of product vs. segment • Q3 – Emergent Consumers • Q6 – Smaller is better? Segments • Q7 – Positioning Strategy Elements

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