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In the Spotlight
Figure 5.1 Market segmentation allows companies to focus their resources on their target markets—the markets where their marketing messages will best resonate. (credit: “3D Bullseye” by ccPixs.com/flickr, CC BY 3.0) Chapter Outline 5.1 Market Seg...
Critical Thinking Exercises
1. Mountain Dew was introduced in 1940 and marketed as “moonshine,” complete with Willy the Hillbilly proclaiming “It’ll tickle yore innards!” Since PepsiCo acquired the brand in the 1960s, Mountain Dew has cycled through new looks, logos, slogans, packa...
6.1 Marketing Research and Big Data
LEARNING OUTCOMES By the end of this section, you will be able to: 1 Define marketing research. 2 Explain how marketing information provides an understanding of the customer and the marketplace. 3 Explain the role of big data and the marketing informat...
In the Spotlight
Figure 6.1 Marketing research provides companies with data-driven insights that allow for deep understanding of their customers in order to develop products and services that meet those customers’ needs. (credit: modification of work “Workshop: Biodiversit...
References
1. Gregory Schmidt, “Mattel Is Reviving Max Steel Action Figure for a New Media Age,” New York Times, January 27, 2013. 2. Sophia Chianese, “Market Segmentation: Mattel Case Study,” LinkedIn, September 28, 2018, https://www.linkedin.com/pulse/ma...
Closing Company Case
Travelers Point Distillery In early 2000, several friends got together to tell stories and drink bourbon. It was obvious that friends and stories come together with good bourbon. The best stories included the rich family history of Master Distiller Mel Lytt...
Marketing Plan Exercise
Complete the following information about the company and products/services you chose to focus on as you develop the marketing plan throughout the course. You may need to conduct research in order to obtain necessary information. Instructions: Using the Market...
What Do Marketers Do?
Utilize LinkedIn to find two sales managers in your geographic area and invite them to connect with you. Try using what you now know about segmentation, targeting, and positioning to consider industries you’d like to work in, where they might be located, and h...
Building Your Personal Brand
There are numerous examples of successful personal brands. For good examples, read this article from the Webflow blog where 18 of the best personal brand examples in 2022 are listed. Using what you learned in this chapter about marketing to target markets and ...
Applied Marketing Knowledge: Discussion Questions
1. Somewhat like the cola wars of the 1980s, quick-service food chains are engaging in chicken wars. List and discuss at least two ways Chick-fil-A, Popeye’s, and Slim Chickens have differentiated and positioned their products as they fight for customers...
5.1 Market Segmentation and Consumer Markets
LEARNING OUTCOMES By the end of this section, you will be able to: 1 Define market segmentation. 2 Describe the benefits of market segmentation. 3 Discuss methods of segmenting consumer markets. Market Segmentation Defined You may have heard th...
Key Terms
ADAMS the essential factors in effective market segmentation—accessible, differentiable, actionable, measurable, and substantial affinity audience a group of potential customers who have interests or hobbies in common behavioral segmentation method of gro...
Chapter Summary
In this chapter, market segmentation is defined and the differences between segmenting B2C, B2B, and international markets are explored. Segmentation, plus targeting and positioning, are the major elements of a customer-driven marketing strategy. Smart markete...
5.7 Ethical Concerns and Target Marketing
LEARNING OUTCOMES By the end of this section, you will be able to: 1 Discuss ethical implications of target market selection. 2 Provide an example of a company that displays ethics in target marketing. Ethical Implications of Target Market Select...
5.6 Product Positioning
LEARNING OUTCOMES By the end of this section, you will be able to: 1 Define product positioning. 2 Explain approaches to product positioning. 3 Describe the positioning statement and perceptual maps. Product Positioning Defined So far, you’ve s...
5.5 Selecting Target Markets
LEARNING OUTCOMES By the end of this section, you will be able to: 1 Define target market. 2 Explain target market strategies. Target Markets Defined Ultimately, the purpose of segmenting a market is to highlight the differences between groups o...
5.4 Essential Factors in Effective Market Segmentation
LEARNING OUTCOMES By the end of this section, you will be able to: 1 List and describe the essential factors in effective market segmentation. Essential Factors in Effective Market Segmentation There’s an acronym you can remember for the essentia...
5.3 Segmentation of International Markets
LEARNING OUTCOMES By the end of this section, you will be able to: 1 Describe the challenges of segmenting international markets. 2 Discuss the advantages of segmenting international markets. 3 Explain methods of segmenting international markets. ...
5.2 Segmentation of B2B Markets
LEARNING OUTCOMES By the end of this section, you will be able to: 1 Describe the challenges of segmenting B2B markets. 2 Discuss the advantages of segmenting B2B markets. 3 Explain methods of segmenting B2B markets. Challenges of Segmenting B2B...
6.2 Sources of Marketing Information
LEARNING OUTCOMES By the end of this section, you will be able to: 1 Identify sources of marketing information. 2 Describe the different categories of marketing information. Identify Sources of Marketing Information Data, as mentioned in the fir...