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An overview of creating a marketing plan, focusing on market segmentation and targeting. It covers identifying bases for market segmentation, developing relevant market segment profiles, forecasting total potential within each segment, determining marketing programs to serve each segment, analyzing competitive forces within each segment, estimating cost-benefit for each segment, and making a decision on selection of target segments. Real-life examples are given throughout the document.
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Market size (Total Shipments X Average Unit Price)
Market segments - Target market - Market Positioning
Identify Bases for Segmenting Market Develop Relevant Market Segment profiles Forecast Total Potential Within each segment Determine Marketing Program to serve each segment Analyze Competitive Forces within each Segment Forecast own market share for each segment Estimate Cost benefit for Each Segment Do Benefits outweigh Costs for each segment? Decision on selection of target segments Stage1 Stage 2 Stage 3 Stage 4 Stage 5
Marketing Strategy
Customers grouped by:
Geographic - Demographic - Psychographic - Behavioral - Market segment is agroup of consumers whorespond in similar waysto marketing efforts
MarketSegmentation
Target marketing
MarketPositioning Strategy
2 - 26 Marketing in Action
Marketing in Action 2 - 28
