MKTG 477 1st Edition Lecture 7 Outline of Last Lecture I Meaningfully defined market segments profiles Outline of Current Lecture II Profiles III Reaching consumers IV What s the fundamental difference between behavioristic and psychographic items V Target Marketing Strategies VI Positioning Current Lecture German coast guard ad improve your English Profiles each segment profile should contain descriptions representing all four of the segmentation bases demographic geographic psychographic behavioristic Reaching consumers Creativity an advertising campaign that consumers can identify with speaks to them o Gum example How old are you Speak different languages When Why do you chew gum Favorite flavor Literally via media Placing the ad in a medium that consumers are exposed to o Gum example Where do you shop These notes represent a detailed interpretation of the professor s lecture GradeBuddy is best used as a supplement to your own notes not as a substitute What TV shows do you watch Recruitment ad for the US Army Time magazine Targeting parents to encourage their children to join the army If you were developing profiles for purposes of designing advertising creative strategies which segmentation base would provide you with the type of information that would be most helpful Behavioristic specifically benefits sought information o Then enrich the profile by adding details about consumers psychographics What s the fundamental difference between behavioristic and psychographic items It appears that both are describing consumers behaviors doesn t it o Behavioristic items describe behaviors specifically related to the product service market being segmented whereas psychographic items are not product service specific We have identified the segments for our product market Now what do we do Decide on the target marketing strategies we should employ specifically related to promotion Target Marketing Strategies Undifferentiated one strategy targeting the entire market ignoring segment differences bad idea o Pepsi commercial shown in Thailand and the US Differentiated unique strategies targeting each segment separately ideal strategy but very expensive o Segment 1 Strategy A o Segment 2 Strategy B o Segment 3 Strategy C o Segment 4 Strategy D Concentrated targeting a single segment with a unique strategy while ignoring all other segments best strategy o Target Segment 1 Strategy A Is there a preferred strategy It depends upon the company the market and the situation South Fork is differentiated Positioning developing and executing a creative strategy that creates or reinforces a certain brand image in the minds of consumers from the target market This is the primary focus and responsibility of advertising Positioning a university WSU World class face to face Drake The D Advantage Drake advantage Positioning cigarettes Gives you more puffs than other major brands Pall Mall
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