Study notes for points-of-difference (POD) and points-of-parity (POP)

What is meant by Points-of-difference (POD)? The aspects of the product offering that are relatively distinct to the offerings of like competitors. What is meant by Points-of-parity (POP)? The aspects of the product offering that are largely similar to the offerings of like competitors. Should a brand emphasize POD or POP? Emphasize POD when… The …

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Study Notes for target market selection

Outline of the target market selection evaluation criteria Target markets should be evaluated on: Financial Issues Segment size Segment growth rate Profit margins Structural Attractiveness Competitors (direct and indirect) Competitive rivalry Access to distribution channels Current channel relationships Strategic Direction Fit with the firm’s strategic future Growth expectations Marketing Expertise Resources (financial position and staff …

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Study Notes for Segment Profiles

What is a segment profile? A segment profile is a descriptive summary of the size, needs, behaviors and preferences of consumers within a particular market segment, with the goal of evaluating segment attractiveness and developing suitable marketing strategies. Study Tip Connect the word ‘profile’ to a criminal profiler that we see on TV crime shows …

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Study Notes for market segmentation evaluation criteria

The market segmentation evaluation criteria After constructing a set of market segments in the STP process, the market segments are then subject to evaluation against a set criteria. This is a checkpoint stage in the STP process. Its goal is to ensure that the segments meet basic requirements and guidelines for usable segments. Main Evaluation …

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Study Notes for how market segmentation is undertaken

How to segment a market? (Technical aspects) There are two main approaches: cluster analysis (if data is available), otherwise segmentation trees. Cluster analysis Cluster analysis is an analysis designed to categorize objects to a pre-defined number of different groups, with each group being relatively similar on a range of selected attributes. The resultant groups are …

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Study Notes for Business Segmentation Bases

What is a business segmentation base? A business segmentation base is definable characteristics or behavior of organizations that can be utilized to classify the organizations into related groups, for the purpose of target marketing. Main business segmentation bases (with examples) Geographic location/s: Where the business operates. Examples: Countries, regions, spread of operations across areas Business …

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