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19 Cards in this Set

  • Front
  • Back
Process
1.
2.
3.
4. Target
5. Differentiate offering
6. Choose segment
Ways to segment
(most used)
GEOGRAPHIC

DEMOGRAPHIC (risk of generalization)

Psychographic - personality, lifestyle, geodemographics (swingsets in the backyard using swingsets)

Behavioral
(most useful)
Three generic segments
Hate
Swing
Love
Criteria for Effective Segments
Differentiable - behave differently
Substantial - large
Identifiable -
Accessible -
Responsive -
Targeting Depends on...
1. 4 C's - FIRST!!
2. Profitability Potential
3.
Total Addressable Market (TM)
(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
Positioning V Position
Position - how viewed by customers

Positioning - actions to influence a product's position
Marketing Cheer
Stand for something
Stand for something different
Stand for something different, that's important
Perpetual Mapping
{}
USP - Unique Selling Proposition
1. Who is the target market?
2. When should the brand be considered? (mind map!)
3.
**USP - Statement
For [target market] the [name of product] is [single most important claim] amont all [competitive frame] because [single most importance support]
Benevolence (takes less)
High tolerance for negative inequity
Sensitives
resolve both positive and negative inequity
Entitleds
No tolerance for negative inequity
Organizational Justice
Will be covered later.

But remember, this is tied to equity theory
Expectancy Theory of Motivation
People motivated to behave in ways that produce valued outcomes
Expectancy
Effort --> performance perception
Instrumentality
Performance --> outcome perception
Valence
Positive or negative value people place on outcomes.