CHAPTER 7: customer-driven marketing strategy: creating value for target customer

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CHAPTER 7: customer-driven marketing strategy: creating value for target customer par Mind Map: CHAPTER 7: customer-driven marketing strategy: creating  value for target customer

1. Differentiation and positioning

1.1. Product position

1.1.1. Perceptions

1.1.2. Impressions

1.1.3. Feelings

1.2. Positioning maps

1.2.1. price and orientation

1.3. Choosing strategy

1.3.1. Identifying a set of possible competitive advantages to build a position

1.3.1.1. Product differentiation

1.3.1.2. Service differentiation

1.3.1.3. Channels

1.3.1.4. People

1.3.1.5. Image

1.3.2. choosing the right competitive advantages

1.3.2.1. offering greater value either through lower prices

1.3.2.2. Providing more benefits that justify higher prices

1.3.2.3. Satisfies the following criteria

1.3.2.3.1. Important

1.3.2.3.2. Distinctive

1.3.2.3.3. Superior

1.3.2.3.4. Communicable

1.3.2.3.5. Preemptive

1.3.2.3.6. Affordable

1.3.3. selecting an overall positioning strategy

1.3.3.1. Value proposition

1.3.3.1.1. More for more

1.3.3.1.2. More for the same

1.3.3.1.3. Same for less

1.3.3.1.4. Less for much less

1.3.3.1.5. More for Less

2. Market segmentation

2.1. Segmenting consumer markets

2.1.1. Geographic

2.1.1.1. nations, regions, states, counties, or cities

2.1.2. Demographic

2.1.2.1. age, gender, family size, family life cycle, income, occupation, education, religion, race, generation, and nationality.

2.1.3. Psychographic

2.1.3.1. based on social class, lifestyle, or personality traits

2.1.4. Behavioral

2.1.4.1. Occasion

2.1.4.2. Benefits sought

2.1.4.3. Usage rate

2.1.4.4. Use status

2.1.4.5. Loyalty status

2.1.4.5.1. Completely loyal

2.1.4.5.2. somewhat loyal

2.1.4.5.3. Not loyal

2.2. Segmenting business markets

2.2.1. Customer-operating characteristics

2.2.2. Purchasing approaches

2.2.3. Situational factors

2.2.4. Personal characteristics

2.3. Segmenting international markets

2.3.1. Geographic location

2.3.2. Economic Factor

2.3.3. Political and legal factor

2.3.4. Cultural factors

2.4. Requirments for effective segmentation

2.4.1. Measurable

2.4.1.1. The size

2.4.1.2. Purchasing power

2.4.1.3. The profiles

2.4.2. Actionable

2.4.2.1. The markets can be effectively reached

2.4.2.2. The markets can be effectively served

2.4.2.3. Can be designed for attracting and serving the segments

2.4.3. Substantial

2.4.3.1. The markets are large

2.4.3.2. Profitable enough to serve

2.4.4. Differentiable

2.4.4.1. The markets are conceptually distinguishable

2.4.4.2. respond differently to marketing mix elements

2.4.4.3. Programs

3. Marketing Target

3.1. Evaluating market segments

3.1.1. Segment size and growth

3.1.1.1. Smaller versus larger segments

3.1.1.2. Growth potential

3.1.2. Segment structural attractiveness

3.1.2.1. competition

3.1.2.2. Substitute products

3.1.2.3. Power of buyers

3.1.2.4. Power of suppliers

3.1.3. Company objectives and resources

3.1.3.1. Competitive advantage

3.1.3.2. Availability of resources

3.1.3.3. Consistent with company Objectives

3.2. Selecting target market segments

3.2.1. Undifferentiated (mass) marketing

3.2.1.1. Focuses on common needs rather than what's different

3.2.2. Differentiated( segmented) marketing

3.2.2.1. Goal is achieve higher sales and stronger position

3.2.2.2. More expensive than undifferentiated marketing

3.2.3. Concentrated(niche) marketing

3.2.3.1. Limited company resources

3.2.3.2. Knowledge of the marke

3.2.3.3. More effective and efficient

3.2.4. Micromarketing(local or individual)marketing

3.2.4.1. The practice of tailoring product

3.2.4.2. Marketing programs to suit the tastes of specific

3.2.4.3. Local marketing

3.2.4.4. Individual marketing

3.2.4.4.1. One-to-one marketing

3.2.4.4.2. Mass customization

3.2.4.4.3. Markets-of-one marketing

3.3. Choosing a targeting strategy

3.3.1. Company resources

3.3.2. Product variability

3.3.3. Product life-cycle stage

3.3.4. Market variability

3.3.5. Competitor's marketing strategies

3.4. Socially responsible target marketing

3.4.1. benefits customers with specific need

3.4.2. Concern for vulnerable segments

4. Positioning for competitive advantage

4.1. Developing a positioning statement