Escolar Documentos
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MKT 750
Dr. West
Agenda
vs
Free Association Task
Reactions to merger
Implementation STP
in Marketplace Segmentation
Targeting
Positioning
Marketing Mix
Product, Price, Place,
Promotion, Brand
Situation Analysis
Consumer
Company
Competitors
Collaborators
Context
Implementation STP
in Marketplace Segmentation
Targeting
Positioning
Marketing Mix
Product, Price, Place,
Promotion, Brand
Situation Analysis
The process of analyzing:
Consumer characteristics & trends
Resources of the Company
Current and potential Competitors
Current and potential Collaborators
The Context or environmental factors
PEST Analysis
Political Economic
Factors Factors
Context
(Environment)
Technological Societal
Developments Trends
Situation Analysis
SWOT:
Core strengths?
Current weaknesses?
What opportunities exist?
What threats do we face?
Situation Analysis
Company
Resources: Finances, Employees, Production,
Development and Design, Research,Facilities,
Marketing/Advertising
What are &
Strengths?
Weaknesses?
Situation Analysis
Competitors
Who are they?
What are their advantages/disadvantages?
How will competitors react?
Situation Analysis
Consumers
Who are our current and potential
customers?
What do we know about these individuals?
How do they compare to those who shop at
the competitor stores?
Situation Analysis
Collaborators
Whose strengths best complement ours?
How will each partner benefit from a
strategic alliance?
Risks & rewards of collaboration?
SWOT Analysis
Strengths: Weaknesses:
Opportunities: Threats:
Situation Analysis
Consumer
Company
Competitors
Collaborators
Environmental Factors
Implementation STP
in Marketplace Segmentation
Targeting
Positioning
Marketing Mix
Product, Price, Place,
Promotion, Brand
Strategy
Segmentation:
Process of identifying a group of
people similar in one or more ways,
based on a variety of characteristics
and behaviors.
Goal: minimize variance within groups
and maximize variance between groups
Identifying Market Segments
Behavioral
Consumer
Characteristics
Geodemographics
Examine regional differences in
demographics
Useful for store location decisions and
targeting direct mailings
Why?
Prizm by
Psychographics/
Benefits
Psychographics
Lifestyle
segmentation
VALS is based on
primary motivation
and resources
Segment Profiles