Content Preview:

Focusing Marketing Strategy with Segmentation and Positioning~When You Finish This Chapter, You Should

1. Understand why marketing strategy planning involves a process of narrowing down from broad opportunities to a specific
target market and marketing mix.
2. Know about the different kinds of marketing opportunities.
3. Understand why opportunities in international markets should be
considered.
4. Know about defining generic markets and product-markets.
5. Know what market segmentation is and how to segment product-markets into submarkets.
6. Know three approaches to market-oriented strategy
planning.
7. Know dimensions that may be useful for segmenting markets.
8. Know what positioning is and why it is useful.
9. Understand the important new terms (shown in red)……..

Avoid hit-or-miss marketing with a logical process

You can see why a manager should seek attractive opportunities. But that doesn’t
mean that everyone does—or that everyone can turn an opportunity into a suc-
cessful strategy. As we discussed in Chapter 2 (Exhibit 2–12), too many firms set-
tle for the sort of death-wish marketing that doesn’t satisfy customers or make a
profit—to say nothing about achieving a breakthrough or providing superior value.
It’s all too easy for a well-intentioned manager to react in a piecemeal way to what
appears to be an opportunity. Then, by the time the problems are obvious, it’s too
late.

Developing a successful marketing strategy doesn’t need to be a hit-or-miss propo-
sition. And it won’t be if you learn the marketing strategy planning process devel-
oped in this text. Exhibit 3–1 summarizes the decision areas for the marketing strat-
egy planning process we’ll be developing throughout the rest of the chapters.
From Chapter 2, you know that a marketing strategy requires decisions about the
specific customers the firm will target and the marketing mix the firm will develop
to appeal to that target market. We can organize the many marketing mix decisions
(review Exhibit 2–8) in terms of the four Ps—Product, Place, Promotion, and Price.
Thus, the “final” strategy decisions are represented by the target market surrounded
by the four Ps. However, the idea isn’t just to come up with some strategy. After all,
there are hundreds or even thousands of combinations of marketing mix decisions
and target markets (i.e., strategies) that a firm might try. Rather, the challenge is to
zero in on the best strategy..

Download Focusing Marketing Strategy with Segmentation and Positioning.Pdf:

[smartads]
Download file