BUSI 3205 Chapter Notes - Chapter 4: Market Segmentation, Product Differentiation, Starbucks

• School: Carleton University
• Department: Business
• Course: BUSI 3205
• Professor: Robin Ritchie

Document Summary

One special problem that most companies face is reaching potential customers just as they are experimenting in a product category for the first time. Folgers examples illustrates the process that marketers use to decide whom to advertise to and what to say. They looks at all possible coffee drinkers and then broke them down by age segments. To pursue the target segment, a firm organizes its marketing and advertising efforts around a coherent positioning strategy. Positioning is the process of designing and representing one"s product or service so that it will occupy a distinct and valued place in the target customer"s mind. Positioning strategy: the key themes or concepts that an organization features when communicating a product"s or service"s distinctiveness to a target segment. Planning the folgers marketing strategy followed the specific sequence of segmenting, targeting, and positioning which is often referred to as stp marketing.