CONSUMER BEHAVIOUR AND TARGET AUDIENCE DECISIONS 3 Chapter Objectives • To understand the consumer decision-making process and how it varies for different types of purchases. • To understand various internal psychological processes, their influence on consumer decision making, and implications for advertising and promotion. • To understand the similarities and differences of target market and target audience. • To understand the various options for making a target audience decision for marketing
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several times, doing slightly different tasks on each additional pass. In the first reading go through the information quickly and keep an open mind. Avoid locking in on any particular facts until you really have the outline of the case data in your mind. During your second reading start underlining and making notations on the various parts of the case. Do not try to fill in a framework just yet. The third step is to isolate key variables and make a few numerical calculations. Once you have done this,
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Strengths and Weaknesses B. External 1. Customer Analysis 2. Competitor Analysis 3. PEST Analysis C. Identify Key Problems & Opportunities 1. Perform SWOT Analysis 2. Set Priorities 3. Develop an Overall Assessment II. Segmentation, Targeting, and Positioning (STP) A. Identify Relevant Markets and Segments B. Select Target Markets and Target Segments C. Develop Positioning Strategy III. Determine Marketing Mix Alternatives A. Product (Goods and/or
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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
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MKT 500: Project Description and Scoring Guide Overview The final project for this course is the creation of a marketing plan for a product of service. You will propose a “fictional” consumer product or service you wish to bring to market. This final project is designed to walk you through such a task. The components of this project will be submitted in six separate milestones spread throughout the modules of the course. These milestones are the initial product idea (Module One), Part One
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| | | | | 4 | | | | | | --------------------------------------------------------------------------FOR OFFICIAL USE (Course Administrator) Assignment Received By: Date: Unit Outcomes Outcome | Evidence for the criteria | Feedback | Assessor’s decision | Internal Verification | |
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its research and assessment on Microsoft Global Corporation and will be focusing on one of its most popular products, the XBOX and its arrival of the XBOX 721X. The Microsoft XBOX721X will be the next greatest game system upgrade to arrive on the market in 2015. It will allow everyone the opportunity to enjoy Microsoft’s XBOX in new dimensions. The team has evaluated many concepts and ideas in the creation of this product. The product will give those that felt video games were only for those that
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2:04 PM Page 222 CHAPTER 11 Market segmentation YORAM (JERRY) WIND and DAVID R. BELL All markets are heterogeneous. This is evident from observation and from the proliferation of popular books describing the heterogeneity of local and global markets. Consider, for example, The Nine Nations of North America (Garreau, 1982), Latitudes and Attitudes: An Atlas of American Tastes, Trends, Politics and Passions (Weiss, 1994) and Mastering Global Markets: Strategies for Today’s Trade Globalist
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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
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a sizeable piece of the market within one year, another way of stating the parameters of success is to achieve a sales rate of 700 umbrellas per day, which is the current maximum manufacturing capacity. Since no particular market has been set in the scenario, lets assume that the market is the Libyan national market. • Describe the current customers of R&S: Since R&S is a new company, they currently have no customers in Libya. • Describe customers R&S would like to target: Since the use of umbrellas
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