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Chapter 8

Marketing - Chapter 8.docx

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Department
Business
Course
BU352
Professor
Dave Ashberry
Semester
Fall

Description
Chapter Eight: Segmentation, Targeting, and Positioning Once the target market was identified, Unilever had to convince the targeted group that when it comes to hair care products, their choice should be Sunsilk. It is achieving this task by defining the marketing mix variables so that the target customers have a clear, distinctive, desirable understanding of what the product or services do or represent, relative to competing products. To achieve its marketing positioning, Unilever designed a life-style advertising campaign that has positioned Sunsilk as the choice of women who need “hairapy” (therapy for hair). The idea is to get customers to recall Sunsilk at the need recognition stage of the consumer buying process. It has also made sure that the shampoo is available almost anywhere its customers would want to buy it. Segmentation, Targeting, and Positioning Process Segmentation Targeting Positioning 1. Strategy or 2. Profile 3. Evaluate 4. Select Target 5. Identify and Objectives Segments Segment Market Develop Attractiveness Positioning Strategy Step 1: Establish Overall Strategy or Objectives - the first step in the planning process is to articulate the vision/objectives of a company’s marketing strategy clearly - the segmentation strategy must then be consistent with and derived from the firm’s mission and objectives, as well as its current situation – SWOT - Unilever’s objective is to increase sales in a competitive industry - the company recognized its strengths were globally recognized brand name and ability to place new products on retailers’ shelves Step 2: Profile Segments - describe the different segments (needs, wants and characteristics) which helps firms better understand the profile of the customers in each segment, as well as the customer similarities within a segment and dissimilarities across segments - segmentation in the soft drink industry includes caffeinated/decaffeinated, regular/diet - this segmentation method is based on the benefits that consumers derive from the products Methods for Segmenting Markets Segmentation Method Sample Segments a) Geographic Country, region, province, city, urban, rural Continent: N America, Asia, Europe, Africa Within US: Pacific, mountain, central, south b) Demographic Age, gender, income, education, occupation, race, marital status, family size, religion, ethnicity c) Psychographic Personality (innovators, achievers, believers), Lifestyle (conservative, liberal, outgoing) and Social Class (upper, middle and working class) d) Behavioural Benefits sought (convenience, economy, prestige, quality, speed), Usage (heavy, moderate, light) and Loyalty (not loyal, somewhat loyal, completely loyal) Psychographics – delves into how consumers describe themselves; allows people to describe themselves using those characteristics that help them choose how they occupy their time (behaviour) and what underlying psychological reasons determine those choices Determining psychographics involves knowing and understanding three components: a) Self-Values – goals for life, not just the gaols one wants to accomplish in a day - refers to overriding desires that drive how a person lives his/her life b) Self-Concept – the image a person has of him/herself c) Lifestyles – refers to the way a person lives his/her life to achieve goals The most widely used psychographic system is the VALS, which classifies consumers into eight segments: - innovators - experiencers - thinkers
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