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• Market Segmentation:
– Process of dividing the market into subgroups of
similar customers
• Market segments
– Large, identifiable groups within a market
– Group of customers who share a similar set of
needs and wants
• Target Market
– Subgroup of people that presents the greatest
Opportunity for targeting
Definition of Terms
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Concept 12
Brand Reinforcement
A brand needs to be carefully managed
so its VALUE DOES NOT DEPRECIATE.
Conveying the brand’s meaning in terms of
(1) products it represents, what core
benefits it supplies, and what needs it
satisfies (2) how the brand makes
products superior should exist in
consumers’ minds.
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• Be different – that special something!
• Credo
• The playing field
• What else are we known for
• What makes us similar & unique
• Standing out – what and how?
• Create a buzz! Tap feelings and society!
SUMMARY
We understand the consumers more
Limited Resources
You can’t please everyone
Companies cannot connect with all customers in large, broad, or diverse
Identify which market segments it can serve effectively
Age
Life Stage
Gender
Income
Generation
Race and Culture
Psychographic
Personalities: self-confidence, energy, intellectualism, self-seeking, impulsiveness
Motivations: Ideals, achievement, Self-expression
Behavioural
Decision Roles
User and Usage
Attitude
Is a NAME, TERM, SIGN, SYMBOL, DESIGN, or some combination of these elements,
INTENDED TO IDENTIFY THE GOODS AND SERVICES of one seller to DIFFERENTIATE them from those of competitors
IDENTIFY THE SOURCE OR MAKER OF A PRODUCT and allow customers to ASSIGN RESPONSIBILITY OF ITS PERFORMANCE to a manufacturer or distributor
Offers LEGAL PROTECTION for UNIQUE FEATURES OR ASPECTS of the product
A credible brand signals a LEVEL OF QUALITY so that satisfied clients CAN EASILY BUY the product again
added value endowed on products and services, which may be reflected in the way consumers, think, feel, and act with respect to the brand.
added value endowed on products and services, which may be reflected in the way consumers, think, feel, and act with respect to the brand.
MEMORABLE – do consumers recall and recognize brand element?
MEANINGFUL – is the brand element credible?
LIKABLE – how aesthetically appealing is the brand element?
TRANSFERABLE – can the brand element introduce new products in the same or different categories?
ADAPTABLE
PROTECTABLE –Names that are synonymous with product categories should retain their trademark rights and not become generic
Create brand memory by linking the brand to other information in memory that conveys meaning to consumers
Introducing a host of NEW PRODUCTS under their STRONGEST BRAND NAMES.
BRAND MANTRA: articulation of the heart and soul of the brand and is closely related to other branding concepts like “brand essence” and “core brand promise
Def’n: articulation of the heart and soul of the brand and is closely related to other branding concepts like “brand essence” and “core brand promise.
Employee differentiation
GE, Pfizer, Cisco: better trained employees
Channel differentiation
Dayton (pet food): besides supermarket, sell also through vegetarians, breeders, and pet stores
Image differentiation
Marlboro: macho cowboy
Service differentiation
Jollibee: fast and cheap