Topic 6 - Competitive Positioning Strategies Flashcards Preview

Strategic Marketing > Topic 6 - Competitive Positioning Strategies > Flashcards

Flashcards in Topic 6 - Competitive Positioning Strategies Deck (7)
Loading flashcards...
1

What is market segmentation?

The process of dividing a market of potential customers into different groups based on different characteristics.

2

Base variables can be used to segment the market. What are the four types of bases?

1. DEMOGRAPHIC
• Basic characteristics of customers eg. Age, sex , occupation


2. GEOGRAPHIC
• Basic location characteristics
Eg. Urban, rural


3. BEHAVIOURAL
• Used for consumer markets
Eg. What people are buying, brand loyalty


4. PSYCHOGRAPHIC
• Based on the psychology of consumers, their actual needs

3

What are the targeting strategies?

- MASS MARKET

-MULTI SEGMENT

-SINGLE SEGMENT

4

What are the two factors considered in marketing?

To evaluate different market segments the firm must look at...

Attractiveness Of Segment



Capability of organisation

5

Target market example

TUI Group - Travel and Tourism Company

• Package Holidays Marketing
• Multi Segment (Different propositions)
• Luxury Couples, All Inclusive, Experience Etc...

6

What is a positioning map?

A tool that is used by marketers to decide upon a competitive position.
An idea that everyone has a different perception of certain product.

7

What is Bowman’s Strategy Clock?
(Used For strategy positioning )

A model used in marketing to analyse the competitive position of a company.

Based on two dimensions

•price
• perceived value

- 8 strategies
-If a company understands the 8 strategies it will ENABLE THEM TO ANALYSE & EVALUATE ITS CURRENT STRATEGY.