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19 Cards in this Set
- Front
- Back
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Process
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1.
2. 3. 4. Target 5. Differentiate offering 6. Choose segment |
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Ways to segment
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(most used)
GEOGRAPHIC DEMOGRAPHIC (risk of generalization) Psychographic - personality, lifestyle, geodemographics (swingsets in the backyard using swingsets) Behavioral (most useful) |
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Three generic segments
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Hate
Swing Love |
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Criteria for Effective Segments
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Differentiable - behave differently
Substantial - large Identifiable - Accessible - Responsive - |
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Targeting Depends on...
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1. 4 C's - FIRST!!
2. Profitability Potential 3. |
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Total Addressable Market (TM)
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(Same as market potential)
TAM = n * q * p n = number of buyers q = avg quantity purchased per buyer per year p = avg purchase price per unit |
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Positioning V Position
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Position - how viewed by customers
Positioning - actions to influence a product's position |
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Marketing Cheer
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Stand for something
Stand for something different Stand for something different, that's important |
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Perpetual Mapping
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{}
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USP - Unique Selling Proposition
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1. Who is the target market?
2. When should the brand be considered? (mind map!) 3. |
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**USP - Statement
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For [target market] the [name of product] is [single most important claim] amont all [competitive frame] because [single most importance support]
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Benevolence (takes less)
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High tolerance for negative inequity
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Sensitives
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resolve both positive and negative inequity
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Entitleds
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No tolerance for negative inequity
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Organizational Justice
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Will be covered later.
But remember, this is tied to equity theory |
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Expectancy Theory of Motivation
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People motivated to behave in ways that produce valued outcomes
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Expectancy
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Effort --> performance perception
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Instrumentality
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Performance --> outcome perception
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Valence
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Positive or negative value people place on outcomes.
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