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Module 3 Segmentation Targeting Positioning FINAL PDF
Module 3 Segmentation Targeting Positioning FINAL PDF
MM555
Module 3 Segmentation, Targeting & Positioning
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Source: http://www.forbes.com/sites/sap/2012/12/03/6-stepsto-executing-a-content-strategy/
Session Outline
Welcome Review of Module 2 Internal Classes - Activity Digging Deeper Module 3: Segmenting, Targeting and Positioning Break Learning Activity Next Steps Marketing plan group time
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1. Define the main steps in designing a customer-driven marketing strategy: market segmentation, market targeting, differentiation, and positioning. 2. List and discuss the main bases for segmenting consumer and business markets. 3. Explain how companies identify attractive market segments and choose a market-targeting strategy. 4. Discuss how companies differentiate and position their products for maximum competitive advantage.
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Curtin University is a trademark of Curtin University of Technology CRICOS Provider Code 00301J
Review of Module 2
Strategic Planning relating to Marketing and delivering value. Analysis of Internal and External Environmental Forces SMART Objectives Marketing Information Systems and Market Research Process
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Locate at least 1 report that relates to that country. More if you can. Bring along next week. We will be exploring questions such as:
o What are the opportunities? o Where should organisations focus? Which industries? Markets? o What is required for an organisation to succeed in that market?
This is an in-class activity. Just make sure you have something to work with!
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Sample Resources
Report| McKinsey Global Institute Manufacturing the future: The next era of global growth and innovation
o http://www.mckinsey.com/insights/mgi/research/productivity_competitiveness_and _growth/the_future_of_manufacturing
Report| It's a MAD world: How Mobile, Agile, Digital employees and consumers are reforming Australia
o http://www.accenture.com/Microsites/futurebusinesstrends/Pages/trend-onevideo.aspx
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Your Task
Work out a system to review the material provided Identify and synthesise the key issues, risks & opportunities that the class will need to know about. In doing this, you may wish to use one or more of the frameworks discussed regarding preparing a Situation Analysis Identify where organisations should focus their attention and summarise the key success factors. Put together a 5 minute presentation that would serve as the equivalent of an executive summary (but via a presentation) to the class
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Presentation
Take no more than 5 minutes You can present in a manner you feel comfortable (e.g. PowerPoint, material on a whiteboard, stand-up delivery; a musical) Focus on what the strategic marketing implications are for your chosen business rather than merely repeating issues you have come across Ensure that you cover the key success factors. Are there any regional implications?
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In each Module we encourage you to hunt out the latest news; explore the research and scan social media for whats new, whats important and what has piqued your interest on the topic of marketing
DIGGING DEEPER
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Curtin University is a trademark of Curtin University of Technology CRICOS Provider Code 00301J
Source: http://thisweekin.com
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Refer to OConnell 2008 article? What insights have you found relating to what YOU buy and who YOU are
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Curtin University is a trademark of Curtin University of Technology CRICOS Provider Code 00301J
Company
Or organisation. What is our Strategic Purpose? Capabilities? Weaknesses?
Context
Whats going on in the macro environment?
Competitors Collaborators
Who do we work with? Who are our partners? Who are our current and potential competitors? Where are they placed in the market?
Targeting
Consider strategic fit; potential and defensibility against competition
Differentiation
Differentiating the market offering to create superior customer value
Your place in the market space Core benefit proposition Unique selling proposition Positioning Statement
Capture Value
Communicate Value
Integrated Marketing Communications (including Promotion)
Deliver Value
Price
Placement Logistics
The MM555 Marketing Management Framework draws on a number of sources including Iacobucci Curtin University is a trademark of Curtin University(2013), of Technology CRICOS Codeand 00301J Armstrong et Provider al (2012) Gibbs (2009) and includes the key factors which need to be taken into account when developing a comprehensive marketing strategy.
Chpt 15 & 16
Customer
Consider factors such as decision making, values, needs & wants
Company
Or organisation. What is our Strategic Purpose? Capabilities? Weaknesses?
Context
Whats going on in the macro environment?
Competitors
Who are our current and potential competitors? Where are they placed in the market?
Collaborators
Who do we work with? Who are our partners?
Marketing Objectives
Chpt 3
Chpt 16 Chpt 16
Segmentation
Based on geographic, demographic, psychographic and/or behavioural factors
Chpt 14
Targeting
Consider strategic fit; potential and defensibility against competition
Chpt 5
Differentiation
Differentiating the market offering to create superior customer value
Your place in the market space Core benefit proposition Unique selling proposition Positioning Statement
Capture Value
Chpt 9
Communicate Value
Chpt 11,12 & 13 Integrated Marketing Communications (including Promotion)
Deliver Value
Chpt 10
Price
Placement Logistics
The MM555 Marketing Management Framework draws on a number of sources including Iacobucci Curtin University is a trademark of Curtin University(2013), of Technology CRICOS Codeand 00301J Armstrong et Provider al (2012) Gibbs (2009) and includes the key factors which need to be taken into account when developing a comprehensive marketing strategy.
Chpt 16
Market Analysis
SEGMENTATION
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Curtin University is a trademark of Curtin University of Technology CRICOS Provider Code 00301J
Curtin University is a trademark of Curtin University of Technology CRICOS Provider Code 00301J
Textbook Resource: Kotler, Keller, Burton: Marketing Management 2009 Pearson Education Australia
Curtin University is a trademark of Curtin University of Technology CRICOS Provider Code 00301J
Textbook Resource: Kotler, Keller, Burton: Marketing Management 2009 Pearson Education Australia
Segmentation
Segmentation is about identifying groups that are similar to one another in BEHAVIOUR (=homogenous within)
But identified Segments may differ from one another (=heterogeneous between)
Marketers look at the entire set of potential customers and classify them in similar groups or segments
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Textbook Resource: Kotler, Keller, Burton: Marketing Management 2009 Pearson Education Australia
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Mass Marketing
All customers are treated the same Is usually more efficient but not effective in meeting customer needs Long live Mass Marketing! Largest potential market ->Lower cost ->Lower prices or higher margins
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Textbook Resource: Kotler, Keller, Burton: Marketing Management 2009 Pearson Education Australia
Toyotas Segmentation
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Descriptive characteristics
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Textbook Resource: Kotler, Keller, Burton: Marketing Management 2009 Pearson Education Australia
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VALS
Primary distinction between B2B & B2C is the sources of data are different
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TARGETING
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3. Profitability?
5. Actionable?
Footer text - slideshow title
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Segmentation Strategies
Breadth strategy Serve more than one segment Depth strategy Serve one segment well Tailored strategy Different products for different segments
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Textbook Resource: Kotler, Keller, Burton: Marketing Management 2009 Pearson Education Australia
Source: http://acornbbs.com/wp-content/uploads/2011/09/Rebel-Brown-Quote-Positioning.jpg
POSITIONING STRATEGIES
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30.07.2010
Less Nutritious
Nutritious
Special K Cornflakes
All 4 Ps Matrix
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Optimal Matches
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Textbook Resource: Kotler, Keller, Burton: Marketing Management 2009 Pearson Education Australia
Market Research
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15 min Break
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Next Steps
Review the Material for Module 4: Consumer Behaviour Complete the required reading:
o Kumar, V., Rajkumar Venkatesan and Werner Reinartz. 2006. "Knowing what to sell, when, and to whom." Harvard Business Review 84 (3): 131137. o Piskorski, Mikolaj Jan. 2011. "Social strategies that work." Harvard Business Review 89 (1): 116-122. o Thomas, Jacquelyn S. 2004. "Getting the most out of all your customers." Harvard Business Review 82 (7/8): 116-123.
Work on Situation Analysis for Applied Project Watch for Announcements Dont forget to Dig Deeper!
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Curtin University is a trademark of Curtin University of Technology CRICOS Provider Code 00301J
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