MGMA01H3 Lecture Notes - Lecture 5: Old Navy, Mattress, Customer Switching
Document Summary
Segment: by dividing a market into different segments and what type of products/services they are looking for. Targeting: providing these goods/products to the targeted segment. Positioning: when a company looks at the competitors and try to differentiate from the competitors and create more customer value. Segmentation looks at the different segments and see how similar their desires are, which determines how advertisement may get through to different groups of people. Targeti(cid:374)g (cid:449)eighs ea(cid:272)h seg(cid:373)e(cid:374)t"s attra(cid:272)ti(cid:448)e(cid:374)ess a(cid:374)d (cid:272)reates a (cid:272)riterio(cid:374) for pi(cid:272)king the segment. Product lines with segmentation (e. g. old navy (young kids + family, price conscious), Gap (university, price conscious, but has income), banana republic (career people with higher income)) Product positioning is by placing an image of the brand to customers, holding a valued position when compared to competitors. Produ(cid:272)t"s positio(cid:374) is the a(cid:272)tual i(cid:373)age i(cid:374) the (cid:373)i(cid:374)ds of (cid:272)usto(cid:373)ers of the (cid:271)ra(cid:374)d. Positioning state(cid:373)e(cid:374)t is the (cid:272)o(cid:373)pa(cid:374)(cid:455)/(cid:271)ra(cid:374)d"s desired i(cid:373)age for (cid:272)usto(cid:373)ers.
