Market Segmentation, Customer Behavior, and Marketing Concepts Explained
Understand market segmentation based on demographics, geographics, and psychographics. Learn about the different customer-oriented approaches in marketing, such as focusing on customer satisfaction and values. Explore how companies like Unilever use customer characteristics to tailor their strategies. Gain insights into the importance of psychographics, geographics, and customer profiles in creating effective marketing strategies.
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Presentation Transcript
Market Segmentation Demographics Geographics Psychographics Product Benefits
QUESTIONS FOR YOU ARE YOU READY?
Marketing Concept Knowing the difference between ________________ and _____________ Customer Consumer Customer satisfaction is based on __________________ Value
Marketers were not very consumer minded in the 50 s/60 s. Were they? Market oriented Consumer oriented Disoriented Sales oriented
Unilever is very focused on customers physical characteristics such as age and gender. Is this Psychographics Demographics Geographics
Michaels passion is music; he subscribes to many musical magazines. Is this .. Psychographics Demographics Geographics
Marketing concept Focus on making a profit Focus on satisfying wants and needs of customers Focus on competition
Psychographics Physical characteristics Where they live Lifestyle and attitude
Geographics Physical characteristics Where they live Lifestyle and attitude
Customer profile is: Combination of product, people and money Combination of geographics, demographics and psychographics Combination of income and revenue
Customer profile plus product =? Marketing mix Target market Market segmentation
Customer Buys the product Uses the product
Verizon has fewer dropped calls This is an example of: Lead with your strengths Play to your competitors weakness
Susan lives in another country and cannot find an American restaurant. This is an example of: Targeting other markets Look for underserved markets
Crest toothpaste has the highest success rate of fighting cavities. This is an example of: Targeting underserved markets Leading with their strengths Playing to competitors weakness
When a company that is privately owned donates to charity, are they? Non Profit organization Profit organization
A MARKET IS. Group of people who share common wants/need AND 1. Have the ability to buy 2. Are of the same age 3. Live in the same geographical area
POSITIONING YOUR PRODUCT Identify Positioning strategy: Bounty Kraft makes Maxwell House coffee and Capri Sun juice boxes Hospital American food abroad Iams Cell service abroad Proctor and Gamble makes Tide detergent & Old Spice deodorant Target Different Markets
