ADV 318J Lecture Notes - Lecture 6: Folgers, A.D. Vision, Product Differentiation
Document Summary
Stp marketing: in diverse markets: you cant design one product and one ibp that"ll communicate with all consumers, but instead develop and market specific brands to specific segments of potential consumers, the foundation for an effective ibp campaign. Segmenting: break down diverse markets into manageable segments. Targeting: choose specific segments as the focal points for ibp efforts. Positioning: emphasize a theme(s) that aligns with the target segment(s: ex: folgers coffee. Segmenting: all coffee drinker narrowed down to age groups. Targeting: choose to focus on just-graduated 20 something"s. Pursue product differentiation: adv and ibp key, must help convince consumers that the difference is meaningful. Brand loyal users: brand"s asset, tough to convert. Switchers/variety seekers: costly target segment, can"t predict as well. Emergent user: important business opportunity (point of entry marketing) Age, gender, race, marital status, ses, occupation: baseline way to segment a market. How are demographics generally used: in combination with another criteria (usage patterns, as a starting point for segmentation.
