MKTG 315 Lecture Notes - Lecture 2: Blue Ocean Strategy, Mass Customization, Marketing Mix
MKTG 315 – 002
30 August 2018
Lecture 2: Chapter 1: Introduction to Consumer Behavior cont.
Segmentation & Targeting Strategies
I. Undifferentiated or Mass Marketing: One Marketing mix for the entire market.
(Ex: Food, Hershey’s Coke, etc.)
a. Undifferentiated marketers generally adopt a production orientation,
wherein innovation is geared primarily toward making the production
process as efficient and economical as possible.
II. Differentiated Marketing: Pursue two or more segments with two or more
products offerings (Ex: Marriott Hotel, Crest, etc.)
a. Serve multiple market segments, each with a unique product offering.
III. Niche or Concentrated Marketing: Only pursue one segment of the market (i.e.
Porsche, etc.)
a. Firm specializes in serving one market segment with particularly unique
demand characteristics.
IV. Mass Customization: “Segments of one” (i.e., Nike, etc.)
a. The use of flexible computer-aided manufacturing systems to produce
custom output.
Product Positioning
I. Product Positioning
a. Establishing an image for the brand/ product in the consumer’s mind; Our
goal is for the image to be distinctive and positive
b. Building a positive brand personality that matches target needs
Perceptual Map
II. Perceptual maps are used to depict the positioning of competing products
graphically to identify competitors, opportunities, and problems/ threats in
marketing mix.
III. Blue Ocean Strategy (vs. red ocean strategy): seeks to position so far away
from competitors that, when successful, the firm creates an industry of its own
by finding an uncontested market space where, at least for a time, isolates
itself from competitors.
Consumer Value Framework (CVF)
I. Consumer Behavior models map the consumption process and the factors that
affect it.
II. CFV = Consumer behavior theory which illustrates factors that shape
consumption-related behaviors
a. Consumption Process → value → relationship with firm
b. Internal Influencers: personality, psychological…
c. External Influencers: Social environment, situational…
Document Summary
Lecture 2: chapter 1: introduction to consumer behavior cont. Differentiated marketing: pursue two or more segments with two or more products offerings (ex: marriott hotel, crest, etc. : serve multiple market segments, each with a unique product offering. Niche or concentrated marketing: only pursue one segment of the market (i. e. porsche, etc. : firm specializes in serving one market segment with particularly unique demand characteristics. Mass customization: (cid:712)segments of one(cid:713) (i. e. , nike, etc. : the use of flexible computer-aided manufacturing systems to produce custom output. Product positioning: establishing an image for the brand/ product in the consumer"s mind; our goal is for the image to be distinctive and positive, building a positive brand personality that matches target needs. Perceptual maps are used to depict the positioning of competing products graphically to identify competitors, opportunities, and problems/ threats in marketing mix. Consumer value framework (cvf: consumer behavior models map the consumption process and the factors that affect it.
