MGMA01H3 Chapter 8: Chapter 8 Notes
Document Summary
Chapter 8 customer-driven marketing strategy creating value for target. Differentiation and positioning product position the way the product is defined by consumers on important attributes the place the product occupies in consumers" minds relative to competing products. Positioning maps in planning their differentiation and positioning strategies, marketers often prepare perceptual positioning maps, which show consumer perceptions of their brands versus competing products on important buying decisions. Selecting an overall positioning strategy: more-for-more positioning involves providing most upscale product or service and charging a higher price to cover higher costs. Customer-driven marketing strategy begins with selecting which customers to serve and deciding on a value proposition that best serves the targeted customers. Market segmentation is the act of dividing a market into distinct groups of buyers with different needs, characteristics, or behaviours who might require separate products or marketing mixes.
