Lefkoff Chapter 6 Marketing UMD

4 Types of Marketing Strategy
Segmentation, Targeting, Differentiation, Positioning
Geographic segmentation
Dividing a market into different geographical units (nations, states, regions)
Demographic segmentation
Dividing a market into segments based on variables (age, life-cycle stage, gender)
Occasion segmentation:
Segments divided according to occasions, when the buyers (
Benefit segmentation:
Segments divided according to the different benefits that consumers seek from
the product
Intermarket (cross-market) segmentation
Grouping consumers with similar needs and buying behaviors irrespective of their location
Target market
Set of buyers sharing common needs or characteristics that the company decides to serve
Target Marketing Strategies
Broad- Mass Markeitng
Segmented Marketing
Concentrated Marketing
Narrow – Micromarketing
Competitive advantage:
n advantage over
competitors gained by offering greater customer value either by: (lower prices or better benefits)
Positioning statement
Summarizes
company or brand positioning