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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

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module 2 healthcare marketing and patients relations management
MODULE – 2 (HEALTHCARE MARKETING AND PATIENTS  RELATIONS MANAGEMENT
  • S.No. - 2/4
  • LECTURE TITLE – MARKET SEGMENTATION & CONSUMER BEHAVIOUR
target marketing

Target marketing

ICRI, Mumbai

slide3

We have already studied-

Levels of market segmentation

      • Segment marketing
      • Niche marketing
      • Local marketing
      • Individual customer marketing
target marketing1
Target marketing
  • A 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.
steps
Steps

1) Need based segmentation

2) Segment identification

3) Segment attractiveness

4) Segment profitability

5) Segment Positioning

6) Segment acid test

3) Marketing mix strategy - 5Ps etc

summary of steps
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 targeting evaluating market segments
Step 2. Market TargetingEvaluating Market Segments
  • Segment Size and Growth
    • Analyze 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 Resources
    • Company skills & resources needed to succeed in that segment(s).
    • Look for Competitive Advantages.
target marketing2
Target marketing

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

P1

P2

P3

target marketing selective specialisation
Target marketingSelective specialisation-

M1 M2 M3

P1

P2

P3

  • 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
Target marketingProduct specialisation-

firm makes a product that it sells to various segments. Like microscope manufacturer.

M1 M2 M3

P1

P2

P3

target marketing market specialization
Target marketingMarket specialization-

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.

P1

P2

P3

target marketing full market coverage
Target marketing -Full market coverage-

M1 M2 M3

P1

P2

P3

  • 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
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
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 targeting1
Concerns with targeting
  • Promotion 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
Process flow

Now we will move to positioning

positioning
Positioning

Is 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 strategies
Product positioning Strategies
  • By attribute or benefit-
    • sugar free
  • By use or application-
    • easy to use
  • By price or quality-
    • Nirma super
  • By user – Bikes segment.
    • Mileage or race
  • By competitor-
    • coke and pepsi
  • By product or service class-Dalda alternative to ghee. Cheaper and healthier.
competitive advantage by positioning
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

Step 1. Identifying Possible Competitive Advantages

Step 2. Choosing the Right Competitive Advantage

Step 3. Communicating and Delivering the Chosen Position

Choosing a Positioning Strategy
identifying possible competitive advantages
Identifying Possible Competitive Advantages
  • Key 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,
identifying possible competitive advantages1

Product

Differentiation

i.e. Features, Performance, Style & Design, Attributes

Services

Differentiation

i.e. Delivery, Installation,

Repair Services, Customer

Training Services

Channel

Differentiation

People

Differentiation

i.e. Hiring, Training Better People Than Competitors Do

Image

Differentiation

i.e. Symbols, Characters

Identifying Possible Competitive Advantages
examples
examples
  • Reliance Mobile- 100 million customers & counting - diverse segments
  • TATA 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 – chhotahaathi –
  • LAKME’ Fruit Blast- “KareAapkechehrekigahrisafiaaurlautayenamilautaye
slide24

ISSUES WITH POSITIONING

  • 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.
choosing the right competitive advantages
Choosing the Right CompetitiveAdvantages

Important

Profitable

Distinctive

Criteria

For Determining

Which Differences

To Promote

Superior

Affordable

Communicable

Unique Selling Proposition

Preemptive

communicating and delivering the chosen position
Communicating and Delivering the Chosen Position
  • Company 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.
reviewing the concepts
Reviewing the Concepts
  • Three steps of target marketing: market segmentation, market targeting, and market positioning.
  • List and discuss the major levels of market segmentation for segmenting consumer.
slide29

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.