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marketing 300. discussion section. announcements?. discussion question. group policy. Anyone still need to find a group?. micro-macro dilemma. personal benefits vs. social costs. personal benefits vs. social costs. personal benefits vs. social costs. personal benefits vs. social costs.

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marketing 300

marketing 300

discussion section

group policy
group policy

Anyone still need to find a group?

personal benefits vs social costs3
personal benefits vs. social costs

trash mass twice the size of TEXAS!

question
question

Why does Progressive insurance offer customers a price quote for Progressive and for its competitors?

question1
question

(hint: think about the purpose of the 4 Ps)

segmentation1
Segmentation
  • Different people have different needs and different uses for products within a category.
  • As a business, it’s important to know who might be interested in your product/service and why.
  • Why?
what is a segment
What is a segment?
  • Segments/Submarkets
      • A relatively homogeneous group of customers who will respond similarly to a marketing mix.
      • Segments are based around NEED.
discussion question1
discussion question

Consider the student market for off-campus apartments in your city. Identify some segments that have different needs and determining dimensions. Then evaluate how well the needs in these market segments are being met in your geographic area. Is there an obvious breakthrough opportunity waiting for someone?

discussion question2
discussion question
  • Need
  • Qualifying dimensions
    • minimum requirements; without these, a consumer is not interested (“I ABSOLUTELY NEED THIS!”)
    • ex. a roof. If a house doesn’t have a roof, you probably won’t consider living there.
  • Determining dimensions
    • qualities that consumers ultimately choose on once they have a qualifying set (“THIS WOULD BE NICE TO HAVE, BUT I DON’T NEED IT”)
    • ex. I choose this house from the ones I liked because it has off-street parking
discussion question3
discussion question

Consider the student market for off-campus apartments in your city. Identify some segments that have different needs and determining dimensions. Then evaluate how well the needs in these market segments are being met in your geographic area. Is there an obvious breakthrough opportunity waiting for someone?

discussion question4
discussion question

Talk with your group about your ideas for a few minutes. Come up with three distinct segments with qualifying dimensions and a “breakthrough opportunity.”

WARNING!Think about students in terms of all relevantsegmenting dimensions (NEEDS), not only in terms of their age or year. The latter will lead you down the wrong path.

what s wrong with this
what’s wrong with this?

Sophomores and Juniors

Seniors

Grad Students

MADISON HOUSING SEGMENTS

are all students the same
are all students the same?

we know that not everyone wants the same thing, even if they are in the same demographic

Seniors

People who want quiet

Budget conscious

People who want to party 24/7

what s wrong with this1
what’s wrong with this?
  • Some seniors might want quiet, others might be looking for proximity to bars, others might want pets. These groups do not necessarily overlap.
  • “Seniors” also leaves out non-seniors who might be looking for quiet, proximity to bars, etc.

People who want quiet

Budget conscious

People who want to party 24/7

are all students the same1
are all students the same?

by making “seniors” a segment, you are implying that all students want the same thing

Clones

Seniors

this is the right way
this is the right way

Overall Market

Quiet Seekers

Budget conscious

Partiers

this is better because it divides overall market by needs, not by demographics

discussion question9
discussion question

Hey wait a minute! How come you said that “seniors” isn’t a segment but “families” is?

discussion question10
discussion question
  • This isn’t an exact science. Use your intuition.
  • Probably most families are looking for similar things; students probably aren’t.
  • Homogeneous within (people within a segment very similar)
  • Heterogeneous between (people in different segments are not very similar)
discussion question11
discussion question
  • Warning: You will have the irrepressible urge to segment by demographics. Don’t do it!
  • It’s okay to use demographics (ex. age, gender, occupation) to help you segment, but don’t rely on them.
discussion question12
discussion question
  • Segment based on

NEED

discussion question13
discussion question
  • Are all the needs you mentioned being met here in Madison?
  • What is a market that you think is out there that is not currently being met?
slide40
quiz

Reminder:

  • The quizzes are timed. You have 4 minutes to submit them. After that, the system will not accept them!
  • You have 2 attempts to complete the quiz. The system will take the higher score.
slide41
quiz

Lipton has increased sales by developing ads that encourage its current customers to drink Lipton tea instead of coffee at morning "coffee breaks." This effort focuses on

A. Market development

B. Diversification

C. Product development

D. Market penetration

E. None of the above

slide42
quiz

What does “market” mean?

slide43
quiz
  • The president of a company that produces cardboard boxes is concerned about the large number of competitors with extra capacity. As he put it, "our best shot is in the hands of our sales manager--she makes all of our marketing decisions and is creative enough to figure out how to sell more boxes." It seems that this company is run as if it were in the:
  • Production era
  • Marketing company era
  • Simple trade era
  • Sales era
  • Marketing department era
slide44
quiz

A digital camera, a computer video-cam, and a computer scanner might compete in the same

  • Single target market
  • Generic market
  • Multiple target market
  • Combined target market
  • Product-market
slide45
quiz
  • Generic market
    • ex. things that transfer digital images to your computer
  • Product-market
    • ex. digital cameras

C. Single target market

    • ex. waterproof digital camera

D. Multiple target market

    • ex. one camera targeted at professionals and amateurs (with different marketing mixes)

E. Combined target market

    • ex. one camera targeted at professionals and amateurs (same marketing mixes)