MKT 100 Lecture 7: Marketing 100

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Steven Chuang

Document Summary

Mass marketing: mass marketing has benefits (economies of scale, but everyone is different (so target) ): creating a clear, distinctive and desirable positio(cid:374) i(cid:374) the target custo(cid:373)er"s (cid:373)i(cid:374)d, relati(cid:448)e to the co(cid:373)petitio(cid:374) Step one: strategy or objectives: consistent with mission statement, derived from mission and current state. Reachable: know the product exists understand what it can do recognize how to buy. Responsive: customers must, react positi(cid:448)el(cid:455) to fir(cid:373)"s offeri(cid:374)g, mo(cid:448)e to(cid:449)ards the fir(cid:373)"s products/ser(cid:448)ices, accept the fir(cid:373)"s (cid:448)alue propositio(cid:374) Substantial and profitable: size matters, too small and the segment is insignificant and will not be profitable, growth potential equally important. Sometimes the fit (or lack of fit) between a product and a target market is surprising. In north america: ipad clearly differentiated by size/weight. I(cid:374) japa(cid:374), the(cid:455) are(cid:374)"t differe(cid:374)tiated fro(cid:373) a light(cid:449)eight laptop a(cid:374)d are(cid:374)"t useful for (cid:449)ork (writing reports, crunching data) Positioning methods: value, product attributes, benefits and symbolism, competition, market leadership.