BA 390 Lecture Notes - Lecture 4: Value Proposition, Competitive Advantage, Intangibility

• School: Oregon State University
• Department: Business Administration
• Course: BA 390
• Professor: Nikki Brown

Document Summary

Undifferentiated (mass) marketing: when businesses approach the market in a way that assumes we all have the same fundamental desires. Focuses on what is common int he needs of consumers. Differentiated (segmentation) marketing: clustering customers with similar needs and focuses on differences within the market. Measurable: size and purchasing power of the segment can be measured. Accessible: can communicate with and serve the segment. Substantial: large enough to be efficiently and profitably served. Differentiable/distinctive: must be different from others segments. Actionable: the firm must be capable of providing a marketing program for the segment. Evaluating the various market segments and deciding which segments to serve. Concentrated marketing (niche marketing): when the marketer chooses to go after a large share of one segment. Micromarketing: tailoring products and messages to specific locations, groups, and individuals. Positioning: the place the product occupies in the mind of the customer relative to competitors. Chapter 8: products, services, brands: building customer value.