...Segmentation, Targeting and Positioning LEARNING OBJECTIVES After reading, studying and analyzing this chapter, students should be able to understand: 2.1 The interrelationship among market segmentation, targeting, and positioning, and how to select the best target markets. 2.2 The bases used to segment consumers, including demographics, psychographics, product benefits sought and product usage-related factors. 2.3 Behavioral targeting and its key role in today’s marketing. 2.4 How to position, differentiate and reposition products. CHAPTER SUMMARY Learning Objective 2.1: To understand the interrelationship among market segmentation, targeting and positioning and how to select the best target markets. Segmentation is defined as the process of dividing a potential market into distinct subsets of consumers with a common need or characteristic and selecting one or more segments to target with a specially designed marketing mix. Besides aiding in the development of new products, segmentation studies assist in the redesign and repositioning of existing products, in the creation of promotional appeals, and the selection of advertising media. In order to be a viable target market, a segment must be identifiable (by some criteria such as demographics, lifestyles, or others), sizeable (i.e., large enough to be profitable), stable or growing, accessible (i.e., can be reached economically), and congruent with the marketer’s objectives and resources...
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...CHAP TER Market Segmenting, Targeting, and Positioning C O M P E T E N C Y O B J E C T I V E S F O R M A S T E R Y 1. Identify the role of market segmentation in developing a marketing strategy. 2. Identify criteria for market segmentation. 3. Identify common types of positioning strategies. 5 Suppose you’ve created a great new offering you hope will become a hot seller. Before you quit your day job to market it, you’ll need to ask yourself, “Who’s going to buy my product?” and “Will there be enough of these people to make it worth my while?” Certain people will be more interested in what you have to offer than others. Not everyone needs homeowners’ insurance, not everyone needs physical therapy services, and not every organization needs to purchase vertical lathes or CT scanners. Among those that do, some will buy a few, and a few will buy many. In other words, in terms of your potential buyers, not all of them are “created equal.” Some customers are more equal than others, however. A number of people might be interested in your product if it’s priced right. Other people might be interested if they simply are aware of the fact that your product exists. Your goal is to figure out who these people and organizations are. To do this you will need to divide them up into different categories. The process of breaking down all consumers into groups of potential buyers with similar characteristics is called market segmentation. The key question you have to ask yourself when segmenting...
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...CHAPTER 8 Market Segmentation, Targeting, and Positioning CHAPTER OVERVIEW Chapter 8 shows different approaches that companies can take to a market in order to best serve customer and company needs. It begins with a brief overview of three marketing approaches that companies can take: mass marketing, product-variety marketing, and target marketing. A fuller discussion details the three steps of target marketing, beginning with market segmentation: dividing a market into groups that is measurable, accessible, substantial, and actionable. This can be done in different ways by using geographic, demographic, psychographic, behavioral, or other variables. Next, the process of market targeting and the different approaches a company can take are discussed. These include undifferentiated, differentiated, and concentrated marketing. The chapter concludes by covering market positioning strategy and how companies can position their products for the best competitive advantage. CHAPTER OBJECTIVES Students should be able to: 1. Explain market segmentation, and identify several possible bases for segmenting consumer markets, business markets, and international markets. 2. List and distinguish among the requirements for effective segmentation: measurability, accessibility, substantiality, and actionability. 3. Outline the process of evaluating market segments, and suggests some methods for selecting market segments. 4. Illustrate the concept of...
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...CHAPTER 8 Market Segmentation, Targeting, and Positioning CHAPTER OVERVIEW Chapter 8 shows different approaches that companies can take to a market in order to best serve customer and company needs. It begins with a brief overview of three marketing approaches that companies can take: mass marketing, product-variety marketing, and target marketing. A fuller discussion details the three steps of target marketing, beginning with market segmentation: dividing a market into groups that is measurable, accessible, substantial, and actionable. This can be done in different ways by using geographic, demographic, psychographic, behavioral, or other variables. Next, the process of market targeting and the different approaches a company can take are discussed. These include undifferentiated, differentiated, and concentrated marketing. The chapter concludes by covering market positioning strategy and how companies can position their products for the best competitive advantage. CHAPTER OBJECTIVES Students should be able to: 1. Explain market segmentation, and identify several possible bases for segmenting consumer markets, business markets, and international markets. 2. List and distinguish among the requirements for effective segmentation: measurability, accessibility, substantiality, and actionability. 3. Outline the process of evaluating market segments, and suggests some methods for selecting market segments. 4. Illustrate the concept of positioning...
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...UNIVERSITY J.L. KELLOGG GRADUATE SCHOOL OF MANAGEMENT Marketing 430-62 Alice M. Tybout Winter Quarter 2000 Phone: 847.491.2723 Office: Leverone 468 e-mail: amtybout@nwu.edu COURSE OVERVIEW Course Objectives This is a survey course and, as such, is designed to provide students with an overview of marketing concepts and tools. While effort has been devoted to finding teaching materials that represent a variety of industries and employ a variety of media, the primary goal is to help provide you with concepts and tools that will be broadly applicable. More specifically, the course has two primary objectives: To develop your marketing decision-making skills. You should leave the course with a well-developed ability to: - analyze the marketing and business environment in which an organization is operating and identify the primary marketing problems facing the firm, - prioritize these problems and select the key issue to be addressed, - develop compelling and creative strategies for solving these problems, and - make tactical decisions that will achieve the strategy that you have selected and, thereby, solve the problems you have identified. To provide you with a set of concepts and tools that can support your decision-making. Fundamental concepts of marketing (such as marketing disciplines, segmentation, targeting, and positioning, customer satisfaction, perceived value, etc...
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...Confirming Proofs Chapter 3 Strategic Market Segmentation Segmenting markets is a foundation for superior performance. Understanding how buyers’ needs and wants vary is essential to designing effective marketing strategies. Effective approaches to segmenting markets may be one of the most critical factors in developing and implementing market-driven strategy. The need to improve an organization’s understanding of buyers is escalating because of buyers’ demands for uniqueness and the growing array of technology available to generate products to satisfy these demands. Companies are responding to the opportunities to provide unique customer value with products ranging from customized phone pagers for business users to self-designed, individualized greeting cards for consumers. Indeed, McKinsey research underlines the weakness of thinking about markets only in general terms—talking of market trends, growth markets, mass markets, declining markets, and so on—and collecting information that describes only broad trends, where differences within markets are averaged-out. They point to the identification of opportunities from a deeper understanding of markets at a “granular” level. Market fragmentation and increasing granularity characterize a growing number of markets. The compelling logic of market granularity is that effective strategy can emerge only from a much finer understanding of market segments, their needs, and the capabilities required to serve them.1 Best Buy provides an interesting...
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...1 Contents 1.0 Introduction ..................................................................................................................................... 6 1.1 2.0 2.1 2.1.1 2.1.2 2.1.3 2.1.4 2.1.5 2.2 2.2.1 2.2.2 2.2.3 2.2.4 2.2.5 2.3 2.3.1 2.3.1.1 2.3.1.2 2.3.1.3 2.3.1.4 3.0 3.1 3.2 3.3 3.3.1 3.3.2 4.0 4.1 2 Overview of the Company ............................................................................................... 7 Situational Analysis .......................................................................................................... 8 Macro Analysis ................................................................................................................. 9 PEST Analysis .............................................................................................................. 9 Political Factor .............................................................................................................. 9 Economic Factors....................................................................................................... 11 Social and Cultural Factors ....................................................................................... 12 Technology Factor...................................................................................................... 13 Porter’s 5 Forces Analysis for Hilton Hotel ................................................................. 14 Bargaining power of Customers .............................
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...MAJoR ITSDI ASSIGNMENT MARRIOTT HOTEL | Group 11 Section –‘X’ | MAJoR ITSDI ASSIGNMENT MARRIOTT HOTEL | Group 11 Section –‘X’ | XAVIER INSTITUTE OF MANAGEMENT,BHUBANESWAR XAVIER INSTITUTE OF MANAGEMENT,BHUBANESWAR MAJOR ITSDI ASSIGNMENT MARRIOTT HOTEL Contents EXECUTIVE SUMMARY 3 Industry Analysis 7 OLC (Organization life cycle): 9 FUNCTIONS 12 APPLICATION INTEGRATION 18 Technological Integration 19 DEPARTMENT SCORECARD 29 CHANGE MANAGEMENT FOR CLOUD STRATEGY 35 Managerial Implication for cloud Strategy (what does the cloud strategy mean for stakeholders) 43 RISK MANAGEMENT 44 CONCLUSION: 45 EXECUTIVE SUMMARY Hotel industry is an essential part of tourism. Expansion of hotel industry inevitably depends on the development of tourism which in turn is responsible for around 40-45% forex earning. Recently initiatives have been taken to boost travel and tourism by the Government. Marriott Hotels: Complete brand portfolio is the most important strategy for Marriott. The company operates in five business segments with each segment having several brands targeting different customer bases (luxury, upper moderate, moderate and lower moderate). This gives it high brand recognition and diversified revenue resources. IT in Marriott (Real Scenario): IT solutions are a large way to...
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...Intensity of rivalry 21 Supplier power 22 Buyer Power 22 Threat of substitutes 22 Threat of new entrants 23 Competitor Environment 23 Introduction 24 Future objective 25 Current strategy 26 Capability 28 Assumption 30 Driving Forces 31 Economic growth 31 Globalization 31 Technology 32 Room Service Remodeling 33 Go green 33 Key Success Factors 34 Multiskilled and flexible workforce 34 Franchising 34 Quickly adopt new technology 35 Strategic Group Map 35 INTERNAL ENVIRONMENT ANALYSIS 39 Resources 39 Tangible resources 39 Intangible resources 41 Capabilities 44 Core Competencies 45 Brand Development: 45 Golden Passport Membership 47 Making Meeting Easy 47 Distinctive Competencies / Four Criteria Test 48 Supply Chain 50 Inbound Logistics 50 Operations 52 Outbound Logistics 54 Marketing and Sales 56 After-Sales Service 58 Weighted Competitive Strength Assessment 59 Financial Report 63 Profitability Ratios 64 Liquidity Ratios 67 Leverage ratios 69 Efficiency Ratios 71 Revenue Per Available Room 73 Pro Forma 75 SWOT ANALYSIS 77 Strengths 77 Weaknesses 79 Opportunities 81 Threats 83 FINAL REPORT 85 Key Result Areas 85 Strategies 87 Decision Criteria 89 Balanced Scorecard 91 CONCLUSION 93 RECOMMONDATIONS 96 REFERENCES 100 APPENDIX A 111 APPENDIX B 113 APPENDIX C 114 EXECUTIVE SUMMARY Hotel industry has become an essential part of tourism and considers...
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...CHAPTER 4 Focusing Marketing Strategy with Segmentation and Positioning These days Nintendo rides high in the video game world. Its DS handheld game, Wii (pronounced “we”) console, and games with characters like Mario and Zelda sell millions of units. The key to Nintendo’s success comes from meeting the entertainment needs of different groups of customers. Back in the 1980s, Nintendo was a 100-year-old Japanese manufacturer of toys and playing cards. If Nintendo managers had continued to just think about the “toy market,” the firm probably wouldn’t even be around now. Instead, they saw profitable new opportunities in the broader “entertainment seekers market.” In 1985, they released the Nintendo Entertainment System (NES) and interactive video games such as Super Mario Brothers. In those early days, video game consoles and software from different producers were quite similar. Even so, Nintendo’s NES stood out as offering better value. And Nintendo’s profits took off because once a household owned a NES console, it qualified as a prime target for new Nintendo games. As the market evolved, Nintendo developed more new products focusing on the needs of different groups of customers. In the 1990s, its popular handheld system, Game Boy, successfully delivered portable fun to kids. Another group of customers, the “hard-core gamers,” played complex and realistic games requiring consoles with high-speed processors and better graphics, so Nintendo offered them its GameCube console...
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...Marketing Management 14 PHILIP KOTLER Northwestern University KEVIN LANE KELLER Dartmouth College Prentice Hall Boston Columbus Indianapolis New York San Francisco Upper Saddle River Amsterdam Cape Town Dubai London Madrid Milan Munich Paris Montreal Toronto Delhi Mexico City Sao Paulo Sydney Hong Kong Seoul Singapore Taipei Tokyo Editorial Director: Sally Yagan Editor in Chief: Eric Svendsen Executive Editor: Melissa Sabella Development Editor: Elisa Adams Director of Editorial Services: Ashley Santora Editorial Project Manager: Kierra Bloom Editorial Assistant: Elizabeth Scarpa Director of Marketing: Patrice Lumuba Jones Senior Marketing Manager: Anne Fahlgren Senior Managing Editor: Judy Leale Production Project Manager: Ann Pulido Senior Operations Supervisor: Arnold Vila Creative Director: John Christiano Senior Art Director: Blair Brown Text and Cover Designer: Blair Brown Lead Media Project Manager: Lisa Rinaldi Editorial Media Project Manager: Denise Vaughn Full-Service Project Management: Sharon Anderson/BookMasters, Inc. Composition: Integra Printer/Binder: Courier/Kendallville Cover Printer: Lehigh-Phoenix Color/Hagerstown Text Font: 9.5/11.5, Minion Credits and acknowledgments borrowed from other sources and reproduced, with permission, in this textbook appear on appropriate page within text. Copyright © 2012, 2009, 2006, 2003, 2000 Pearson Education, Inc., publishing as Prentice Hall, One Lake Street, Upper Saddle River, New Jersey 07458. All...
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...Research report on “COMPARATIVE STUDY OF NOKIA MARKETING” Submitted In Partial Fulfillment of Requirements for the Award of the Degree Of BBA Of Punjab Technical University Under The Guidance Of MR. JAGJIT SINGH Submitted by Bhupinder Narang Roll no.104142461752 B.I.S GROUP OF COLLEGE GAGRA (MOGA) Certificate of supervision This is to certify that Mr. Bhupinder Narang S/o S. Ram Nath Narang Roll No 104142461752 has completed the research project “COMPARATIVE STUDY OF NOKIA MARKETING” under my supervision in partial fulllfilment of BBA degree approved by ACITE of PTU. Signature of supervision Place: SHRUTI BATRA Date: Seal of Dean Declaration I hereby declare that the research project “COMPARATIVE STUDY OF NOKIA MARKETING” titled is my own original work and this report has not been submitted to any university and institute for award of any professional degree/diploma. Date : Place: Signature of candidate Bhupinder Narang Roll No: 104142461752 Table of Contents 1. | Declaration | | 2. | Preface | | 3. | Acknowledgement | | 4. | Introduction to the Organization A brief history of Nokia | Nokia Introduction | SCOPE | PAKISTAN DRIVEN STRATEGY | S.W.O.T | Accessories and Features | | | 5. | Maketing Objectives | | 6. | Organization’s Network: | | 7. | List Of Nokia Products | | 8. | | | 9. | Consumer Buying Behaviour | | ...
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...Principles of Marketing – MGT301 VU MGT - 301 Lesson – 1 PRINCIPLES OF MARKETING Overview of Course: This subject/course is designed to teach the basic principles of Marketing to diverse audience/students, including those who are studying this as a supporting subject for their bachelor degree program. This course is designed to provide you the foundations of Marketing whether you intend to work in field of the marketing or not. Marketing is part of all of our lives and touches us in some way every day. To be successful each company that deals with customers on a daily basis must not only be customer-driven, but customer-obsessed. The best way to achieve this objective is to develop a sound marketing function within the organization. To be understandable and lively means that we need to communicate you. We start every chapter with learning objectives. The most important thing you will get out of this course is the basic skills required to succeed in today’s competitive environment. Marketing is defined as a social and managerial process by which, individuals and groups obtain what they need and want through creating and exchanging products and value with others. Marketing is a key factor to business success. The marketing function not only deals with the production and distribution of products and services, but it also is concerned with the ethical and social responsibility functions found in the domestic and global environment. Introduction of Marketing What image comes...
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...*** (A) IMPORTANCE OF MARKETING Marketing is a very important aspect in business since it contributes greatly to the success of the organization. Production and distribution depend largely on marketing. Marketing covers advertising, promotions, public relations, and sales. Since the goal of marketing is to make the product or service widely known and recognized to the market, marketers must be creative in their marketing activities. In this competitive nature of many businesses, getting the product noticed is not that easy. Strategically, the business must be centered on the customers more than the products. Although good and quality products are also essential, the buying public still has their personal preferences. If you target more of their needs, they will come back again and again and even bring along recruits. If you push more on the product and disregard their wants and the benefits they can get, you will lose your customers in no time. The sad thing is that getting them back is the hardest part. 1. Marketing Promotes Product Awareness to the Public Getting the product or service recognized by the market is the primary goal of marketing. No business possibly ever thought of just letting the people find out about the business themselves, unless you have already established a reputation in the industry. But if you are a start-out company, the only means to be made known is to advertise and promote but the important thing is that product and company information is...
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...MARKETING 7E People real Choices This page intentionally left blank MARKETING 7E People real Choices Michael R. SAINT JOSEPH S SOLOMON ’ U OLLINS NIVERSITY Greg W. MARSHALL R C OLLEGE Elnora W. THE UNIVERSITY OF SOUTH CAROLINA UPSTATE STUART Prentice Hall Boston Columbus Indianapolis New York San Francisco Upper Saddle River Amsterdam Cape Town Dubai London Madrid Milan Munich Paris Montreal Toronto Delhi Mexico City Sao Paulo Sydney Hong Kong Seoul Singapore Taipei Tokyo Editorial Director: Sally Yagan Editor in Chief: Eric Svendsen Acquisitions Editor: Melissa Sabella Director of Editorial Services: Ashley Santora Editorial Project Manager: Kierra Bloom Editorial Assistant: Elisabeth Scarpa Director of Marketing: Patrice Lumumba Jones Senior Marketing Manager: Anne Fahlgren Marketing Assistant: Melinda Jensen Senior Managing Editor: Judy Leale Project Manager: Becca Richter Senior Operations Supervisor: Arnold Vila Creative Director: Jon Christiana Senior Art Director: Blair Brown Text and Cover Designer: Blair Brown Media Project Manager, Production: Lisa Rinaldi Media Project Manager, Editorial: Denise Vaughn Full-Service Project Management: S4Carlisle Publishing Services Composition: S4Carlisle Publishing Services Printer/Bindery: Courier/Kendalville Cover Printer: Courier/Kendalville Text Font: Palatino Credits and acknowledgments borrowed from other sources and reproduced, with permission, in this textbook appear on appropriate page within text. Microsoft®...
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