Marketing concepts 2

MARKETING CONCEPTS

Don’t buy market share. Figure out how to earn it.

- Philip Kotler

Market Segment

“A group of consumers who respond in a similar way to a given set of marketing efforts”

-Philip Kotler SMART:

Specific Measurable Accessible Reliable Targetable

Differentiation

“Actually differentiating the market offering to create superior customer value”

- Philip Kotler

Positioning “Arranging for a product to occupy a clear, distinctive, and

desirable place relative to competing products in the minds of target consumers” - Philip Kotler

Demographic segment factors

Age Gender Family size Family life cycle Income Occupation Education Religion Nationality

Geographical segment factor

World region or country Country region City or metro size Density Climate

Psychographic segment factors

Social class Lifestyle Personality

Behavioral segment factors

Occasions Benefits User status User rates Loyalty status Readiness stage Attitude toward product

Niche marketing

“A market-coverage strategy in which a firm goes after a large share of one or a few segments or niches”

- Philip Kotler

Mass marketing

An attempt to appeal to an entire market with one basic marketing strategy utilizing mass distribution and mass media. Also called undifferentiated marketing.

Product positioning

“Positioning is the act of designing the company’s offering and image to occupy a distinctive place in target market’s mind.”

- Philip Kotler

Competitive advantage

“An advantage over competitors gained by offering greater customer value, either through lower prices or by providing more benefits that justify higher prices”

- Philip Kotler

Value proposition

“The full positioning of a brand - the full mix of benefits upon which it is positioned”

- Philip Kotler

Micro marketing

“The practice of tailoring products and marketing programs to the needs and wants of specific individuals and local customer groups – includes local marketing and individual marketing”

-Philip Kotler

POP Vs. POD

The aspects of the product offering that are largely similar to the offerings of like competitors

The aspects of the product offering that are relatively distinct to the offerings of like competitors

POP POD

Positioning statement.

“A statement that summarizes company or brand positioning – It takes this form: To (target segment and need) our (brand) is (concept) that (point-of-difference)”

- Philip Kotler

 “For serious athletes, Nike gives confidence that provides the perfect shoe for every sport”

THANK YOU