Slidedeck shad valley - segmentation
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Slidedeck shad valley - segmentation
- 1. Discovering the Markets: Segmenting & Targeting Presented by Lindsey Fair
- 2. Why do we need to determine the target market? Who will want your product? How many are there? Where will I find them? How do I motivate them to purchase?
- 4. 21/02/11 How does “everyone” (MASS) become a smaller piece of the pie?
- 5. What lists are you on? How have you been segmented?
- 7. demographic
- 12. What are the ways a 16 year old female could be segmented?
- 13. ACTIVITY: Target is coming to KTown 1. Find doctor’s offices that they can target with a business products offer. 2. Look up number of houses in the immediate area to determine number of flyers they need to print for a direct mail campaign. 3. Determine the interests and lifestyle characteristics of the surrounding neighbourhoods to determine what products to promote for store opening.
- 16. 5 stages of purchase decisions
- 17. Info Search
- 19. The PURCHASE
- 20. Post-Purchase
- 21. Influences
Notes de l'éditeur
- Set up: Polleverywhere Videos Targets on board Activity: The Pen Game if you all tried to sell a pen – there would be 50 sold, so you would have a cap of 50 but have to share market place. If you differentiate / segment then you don't have share, but rather overlap and convince the buyer they need both.
- Who will want your product? How many are there? Where will I find them? How do I motivate them to purchase?
- STUDENT VOLUNTEERS: If I throw these elastics at the board how many hit the target? If I aim five, one at a time, how many hit the target? That’s why determining a good clear target for your business / product / campaign is really important. Costs less, get’s better results, more predictable.
- Tell the student grass cutting business story Differentiate / position / target That’s a segment.
- Get students to right them down on sheet of paper. Ask for some of them – put them in columns for proper segmentation without titles. Forbes article – read and discuss: http://www.forbes.com/sites/kashmirhill/2012/02/16/how-target-figured-out-a-teen-girl-was-pregnant-before-her-father-did/ What lists / segments? How did it help the business? Example of existing customer segmentation, but what you’re going to be doing is forecasting a target market.
- What are the geographic segments of this class? Look up your community and tell us the household / business / farm counts.
- So what are the demographics of this class? Find the demographics of your community.
- ( Includes culture, sub-culture, social class, peer group, reference individuals) How? -Memberships-Subscriptions-Online affiliations-Referral
- ( Includes lifestyle, habits, attitudes, beliefs, values) Difficult to define but produce the best lists that lead to successful ad campaigns Read through these (handout) Go to tool and type in your postal code – read your segment – discuss with another person its accuracy
- Grouping consumer based on past actions (ie:-5W’s of purchases that we’ll learn after break) Show & Tell Who has cash in pocket? Who has bank card? Who has a loyalty card? When you buy a sub do you always buy a drink too?
- Naics, sic’s Look up your parents NAIC’s code So now that you have a NAIC’s code how would you use it? Combo of NAIC’s and geographic segmentation most common.
- Brainstorm This is why demographics aren’t the only answer to great target marketing
- Lab ACTIVITY: Use Target coming to town as example. (team) NAICS (find offices so they can target them with business product offer) http://www.naics.com/search.htm Canada Post (look up postal codes, number of houses to determine size of potential market) http://www.canadapost.ca/cpc2/addrm/hh/pending/indexp/cpALL-e.asp Priszm (look up surrounding neighbourhoods to determine what products to promote for store opening) http://environicsanalytics.ca/prizmc2_cluster_lookup.aspx City of Kingston (look up income levels and number of kids to determine pricing and products and parking spots) http://www.cityofkingston.ca/cityhall/neighbourhoods/data.asp
- Congo video – once you’ve segmented you need to understand your target’s consumer behaviour
- The study of consumer behaviour helps marketing organizations understand "why" people buy the products they do. From a competitive viewpoint, access to information about consumer buying motivation is crucial to developing persuasive message strategies—to know what buttons to press when communicating with customers.
- Information Search – in groups discuss the steps to 1. what you had to eat this morning 2. the most expensive thing you’ve ever bought Routine Decision - Does not involve much money, takes limited time and has low risk. (toothpaste) Limited Decision - Involves more expensive purchases, takes more time, and has moderate risk. Complex Decision - Requires considerable time, effort and money, a proper evaluation of alternatives, and involves high risk. (car)
- Evaluation of Alternatives - assessment is made based on factors such as price, quality, style, service or any other attribute judged to be important
- Post-Purchase Evaluation cognitive dissonance: individual's unsettled state of mind that results from an action taken by an individual. Its presence suggests a lack of confidence in the decision
- polleverywhere – factors / influences in your decision to come to Shad = Reference Groups (important to understand those in marcom messaging)
- Psychological Influences Maslow's hierarchy of needs and theory of motivation influences marketing strategy (See Figure 4.4 in the textbook). physiological needs, safety needs, social needs, esteem needs and self–actualization needs
- What level is this ad directed at? Belonging / social / physcological
- Attitudes and Perceptions affect consumer behaviour so if you can determine what they are you can target them more effectively Selective Exposure – Noticing information of interest. Selective Retention – Remembering only what we want to remember. Video – follow the directions
- SERVILE means turning your brand into a lifestyle servant focused on catering to the needs, desires and whims of your customers, wherever and whenever they are. - think IKEA moving weekend campaign
- trendwatching.com 1. keep it simple 2. explain it 3. don't ask for commitment – think one night stand