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Foundations of Strategy
Foundations of Strategy
PEST Analysis
PEST Analysis
Consumer Characteristics
Consumer Characteristics
Consumer Characteristics
Consumer Characteristics
Prizm by
Prizm by
Prizm by
Prizm by
Prizm by
Prizm by
Buying A New Car
Buying A New Car
Dream Car:
Dream Car:
Our consideration set
Our consideration set
Our consideration set
Our consideration set
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Market Analysis and Strategy

содержание презентации «Market Analysis and Strategy.ppt»
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1Market Analysis and Strategy. MKT 750 22Strategy. Positioning How your
Dr. West. product/company is perceived in the hearts
2Agenda. Pop quiz Marketing Analysis and minds of your customers? Price
& Strategic Planning Essential leader/Innovator/Fashion leader/
Elements Discuss Shopping Insights Diary Quality/Service What associations come to
Form teams. mind?
3Marketing Strategy. Involves the 23Summary. A firm needs to: Analyze the
allocation of resources to develop and market 4 C’s (Company, Competitors,
sell products or services that consumers Collaborators, Customers), and
will perceive to provide more value than environmental factors Develop a strategic
competitive goods What is perceived value? plan beginning with Segmentation,
4Foundations of Strategy. A thorough Targeting, and Positioning Followed by
understanding of: Domestic and global tactical decisions Product (Brand), Price,
market trends Models to predict purchase Promotion, and Place Implementation
and consumption Communication methods to issues.
reach target markets most effectively. 24Shopping Insights Diary. Introspective
5Situation Analysis Consumer Company Approach vs Depth-Interview Think through
Competitors Collaborators Environmental the purchase process involved in three
Factors. Implementation in Marketplace. recent purchases. You will need to provide
STP Segmentation Targeting Positioning. a description of how and why you decided
Marketing Mix Product, Price, Place, to purchase the product, as well as offer
Promotion, Brand. insights to other consumers like yourself,
6Situation Analysis Consumer Company and marketers.
Competitors Collaborators Environmental 25Consumer Decision Making.
Factors. Implementation in Marketplace. Consumer-side.
STP Segmentation Targeting Positioning. 26Buying A New Car.
Marketing Mix Product, Price, Place, 27Dream Car:
Promotion, Brand. 28Need Recognition: Subaru Legacy had
7Situation Analysis. The process of 198,500 miles on it One night the rear
analyzing: Consumer characteristics & window stopped working (when it was
trends Resources of the Company Current partially open) I suggested it was time…
and potential Competitors Current and 29Search: Determinant attributes: Holds
potential Collaborators. 6 passengers, a cello, and a double bass
8PEST Analysis. Economic Factors. Not an SUV Our “consideration set”?
Political Factors. Market Environment. 30Our consideration set. Toyota Sienna
Technological Developments. Societal -- CR “Best Buy” Volvo XC70 --Turbo and
Trends. AWD Subaru Outback.
9Situation Analysis. SWOT: Core 31Search: Visit to Edmunds to determine
strengths? Current weaknesses? What price and read consumer ratings Toyota
opportunities exist? What threats do we Sienna rating 8.4 out of 10, price $30K
face? Volvo Cross Country rating 9.6 out of 10,
10Situation Analysis Consumer Company price $40K Subaru Outback (L.L. Bean)
Competitors Collaborators Environmental rating 8.9 out of 10, price $32K.
Factors. Implementation in Marketplace. 32Search: Called local dealers to check
STP Segmentation Targeting Positioning. on availability Found a 1999 Volvo Cross
Marketing Mix Product, Price, Place, Country forest green, leather seats,
Promotion, Brand. sunroof, climate control… brought it home
11Strategy. Segmentation: Process of for hubby to test drive.
identifying a group of people similar in 33Evaluation: Called the dealer back to
one or more ways, based on a variety of get their best offer Went “shopping” with
characteristics and behaviors. Goal: the kids Test drove a 2000 Volvo Cross
minimize variance within groups and Country Went to the Toyota dealer, but
maximize variance between groups. didn’t even test drive the Sienna Went to
12Identifying Market Segments. the Subaru dealer and test drove a new
Behavioral. L.L. Bean Outback.
13Behavioral Segmentation: “Heavy versus 34Post-purchase evaluation : I check out
Light” Users – “80/20 rule”. (20%) (32%) the latest classifieds on Sunday morning
(88%) (48%) (95%). Heavy Users: to see if we paid too much After getting
Efficiency/profit Caution: Majority the window fixed a few days later my
Fallacy. husband felt a bit disloyal to his Subaru
14Identifying Market Segments. Consumer I suggested we keep the Subaru as a
Characteristics. back-up car.
15Consumer Characteristics. 35Consumer Decision Making.
Demographics: Age, Gender, Income, etc… Consumer-side Marketer-side.
These are widely available but limited in 36Here we go again…
usefulness They tell us who buys, or 37Need Recognition. Our daughter got her
doesn’t buy our product, but not why driving permit in February Next year she
Useful for identifying “prospects”. will be able to drive herself to school,
16Consumer Characteristics. music lessons, orchestra rehearsals,
Geodemographics Examine regional musical rehearsals, gigs … That means I
differences in demographics Useful for won’t have a car!!
store location decisions and targeting 38Search: Determinant attributes: Needs
direct mailings Why? Because “birds of a to hold a double bass Can’t be any bigger
feather flock together”. than the Volvo 240 Our “consideration
17Prizm by. New Beginnings: Filled with set”?
young, single adults, New Beginnings is a 39Search: Volvo S40 Rating 8.8 out of 10
magnet for adults in transition. Many of Subaru Forester Rating 9.2 out of 10
its residents are twenty-something singles Volkswagen Passat Rating 9.2 out of 10.
and couples just starting out on their 40Search: Many visits to Edmunds Invoice
career paths -or starting over after prices Went to the Auto Show Looking to
recent divorces or company transfers. see if we were missing something Visited
Ethnically diverse -with nearly half its Volvo & Subaru dealerships Test drove
residents Hispanic, Asian or the S40 & Forester.
African-American- New Beginnings 41Evaluation: I like them both! The
households tend to have the modest living Forester was better suited for
standards typical of transient apartment transporting a bass We got a call from a
dwellers. Volvo sales person who had just the thing
18Identifying Market Segments. we were looking for ... when we got there
Psychographics/ Benefits. it had been sold We stopped at the Subaru
19Psychographics. Lifestyle segmentation dealership and the sales person found us
VALS is based on primary motivation and exactly what we were looking for so we
resources. bought it!
20Segment Profiles. Once a basis for 42Post purchase evaluation: I’m happy to
segmentation has been determined, segments have a car that fits the bass, or garage,
should be profiled by describing them on and looks great! My husband is happy to
as many levels as possible. have a Subaru back in the family My
21Strategy. Targeting Select segments of daughter is thrilled that she will have a
the market to offer products and services car to drive next fall.
Who can we most efficiently and 43Assignment. Read Chapters 3 & 4
effectively establish a relationship with Memo 1: Shopping Insights Diary due on
better than our competitors? What criteria Tuesday.
should be used to select a target market?
Market Analysis and Strategy.ppt
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Market Analysis and Strategy

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