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22 Cards in this Set
- Front
- Back
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Targeting short definition
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which segment do we pursue? who is in the selected segment?
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Some advantages of pursuing a single segment through targeting (3)
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Achieve a strong market presence
Gain in depth knowledge of segment needs Operating economies through specialization (if keep doings same way..like getting faster, less paper) |
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Example of a risk to pursuing one segment
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Polaroid camera missed development and they depended so much on one segment, they went under
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3 common alternatives to a single segment concentration
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• Selective specialization
– Lots of segments; No relationship between segments – Diversified risks • Market specialization – Firm concentrates on serving many needs of a particular customer group • Undifferentiated marketing (mass marketing) – Ignore segments – Go after whole market with one offer |
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Targeting also involves describing the target audience (3 current problems)
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Often generic
– e.g., Women 25‐35 with above‐average income • Women often assumed to like… – Pink and pretty things – Getting married – Babies • Most advertising creative directors are still male |
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If potential harmfulness of product is high and the target is vulnerable, then...
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its a payday loan to poorly educated target
kids are vulnerable to burger king spongebob black people vulnerable to specific cigarettes |
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Recommendation of bringing to life randomly selected member of a target audience (3 things)
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• Rich, complete description
• Describe behaviors outside the category that help to illustrate the needs we can satisfy • e.g., imagine we’re trying to steal share from Cole Haan by offering the most comfortable high‐end mens’ dress shoe – What else do they buy? Not buy? What’s his name? |
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4 characteristics of a good target description
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• Name
• Habitat • Revealing behaviors/habits • Consumption outside the category but its hard to take perspective of a customer |
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How the good target exercise can reveal more about fundamental strategic problems
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• If we have to come up with a muse that feels
unrealistic, or unlikely to be won over by us, maybe we need to re‐think our category, DV, etc. • e.g., imagine we’re Crest White Strips, and we’re trying to win over people who normally get their teeth whitened at the dentist – We think our DV is convenience |
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Traditional positioning statement structure
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• To (target audience), our (brand) is (the concept) that
provides (what the main/dynamic variable is or does) • e.g., To young, active soft‐drink consumers who have little time for sleep, Mountain Dew is the soft drink that gives you more energy than any other brand because it has the highest level of caffeine. With Mountain Dew, you can stay alert and keep going even when you haven’t been able to get a good night’s sleep. |
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5 box positioning statement description
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current behavior--current belief--consumer proposition(change belief from current to desired)--desired belief---desire behavior
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Distance from current belief and desired belief in 5 box positioning statement
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Tells us how costly it will be to move beliefs in the desired direction
For example, imagine we want people to believe that Kroger is a great place for both packaged goods and produce |
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3 current beliefs/feelings that we might want to address
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• Confusion about what category we’re in (7 up)
• Doubts about the quality of our goods • The main / dynamic benefit we dominate on isn’t important |
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Similarity between consumer proposition and desired belief, from boxes
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Desired belief is ideally more or less a restatement of
the consumer proposition • Sometimes the consumer proposition will include facts that won’t be retained in the desired belief • Example – “70% of people prefer Pepsi to Coke” (consumer prop.) – “Pepsi tastes better than Coke” (desired belief) |
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Valence (the combining power) of positioning statements..talking about negative "prevention-focused" positioning statements here (not promotion focused)
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• We’ve focused on positive, “promotion‐focused”
positioning statements • Negative, “prevention‐focused” positioning statements often more powerful – e.g., Because so much is riding on your tires – e.g., Nobody ever got fired for buying an IBM |
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Position statements do not equal
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taglines
Taglines are memorable articulation of positioning statement (hire specific agency to create this) |
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Consumer proposition ---desired behavior caveat
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Held beliefs difficult to change, even when you
provide evidence that belief is false • Once you know something, hard to un‐know it • Some examples – Belief Perseverance – Curse of Knowledge |
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Belief---behavior caveat
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Not always straightforward
• I believe… – Exercise is important – Diet sodas do more harm than good – The environment is in grave danger • Supportive beliefs often a necessary, but not sufficient, precursor for behavior |
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An example of belief perseeverence
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Participants given stack of authentic and unauthentic
notes from runaway kids • Asked to guess which were real, which were fake • Half randomly assigned to receive (+) feedback • Half randomly assigned to receive (‐) feedback • Everyone then told feedback was false positive people still held onto beliefs with contradictory evidence |
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Curse of knowledge
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changes how people thought of stocks performance in perception of other people
The curse of knowledge is a cognitive bias according to which better-informed agents find it extremely difficult to think about problems from the perspective of lesser-informed agents. As such added information may convey some disutility. The term was coined by Robin Hogarth. |
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Targeting is an attempt to
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make the abstract segmentation process more concrete (what's life like for someone who needs what we provide?)
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Positioning
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What do we need to say to induce the desired beliefs among our target audience (how can we change belief)
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