1.6: Segmenting and Targeting Considerations
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- 84065
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S-T-P and reaching consumers
In the following sections, we will examine these factors used to segment and target consumers.
- Consumer Analysis
- Understand the factors influencing the consumer decision-making process.
- Examine demographic, psychological, and psychographic characteristics of the consumers.
- Analyze the characteristics of current consumers and their behaviors from internal transactional data.
- Segmentation
- Define segment distinctions and characteristics using your consumer analysis.
- Evaluate the accessibility and profitability of segments to allocate resources toward reaching them with a unique marketing mix.
- Targeting
- Develop consumer personas that reflect characteristics of segments that would influence purchase decisions.
- Create storylines for consumer personas that connect the product or service to the target group.
- Positioning
- Identify competitors in the marketplace and evaluate your competitive edge.
- Communicate that competitive edge to targeted consumers.
- Evaluate Campaigns
- Value Propositions
- Collecting data
- Return on Investment
Sections in this textbook will examine the many factors influencing a brand's success at each of these stages of developing a target market campaign.
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