About This Chapter
Marketing Strategy - Chapter Summary and Learning Objectives
When a new product is brought to market, there are many factors that must be carefully considered and researched. Among these is the issue of to whom the product will be targeted. Targeting can be done on several different bases including demographics, geographic, psychological characteristics, benefits and more. Plus, the product must be carefully positioned -- is it meant for a high-end user? Or for a mass-market audience?
In this chapter, we'll examine the issues that go into developing an effective marketing strategy. The short videos are accompanied by self-assessment quizzes and transcripts. You can also send questions to an instructor if you need help with a concept. By viewing these video lessons, you'll learn things such as:
- Why market segments are important
- Types of market segmentation
- Target marketing strategies
- Positioning a product
- Differentiating a product from similar products
- The value proposition in marketing
|Market Segmentation: Why Market Segments Are Important to Marketers||Define market segment and why it is important to marketers.|
|Market Segmentation: Geographic, Demographic, Psychographic & More||Explain the ways marketers can segment markets.|
|How to Segment Business Markets Step-by-Step||Describe the steps taken in segmenting a market successfully.|
|Various Types of Target Marketing Strategies||Identify and define the types of target marketing strategies.|
|Positioning & Differentiation in Consumer Marketing||Recognize how positioning relates to consumers.|
|The Role of Value Proposition in Marketing||Explain value proposition and its role in marketing.|
1. Market Segmentation: Why Market Segments Are Important to Marketers
Marketing managers must understand the importance of segmenting a market and the specific criteria for successful segmentation. Before the 1960's, most companies tried to market products to the masses with declining success. It is important to identify key target markets!
2. Market Segmentation: Geographic, Demographic, Psychographic & More
Marketers must be effective at creating niche segments to promote and sell their products or services. There are five specific ways that markets can be segmented in order to create a successful sales opportunity.
3. How to Segment Business Markets Step-by-Step
Discover the four segments of business marketing in this lesson. You will also learn the distinguishing characteristics of each segment so you may easily identify each of them.
4. Various Types of Target Marketing Strategies
Watch this video lesson, and you will learn about the ways in which businesses can market themselves. You will see that different products and services require different form of marketing to be successful.
5. Positioning and Differentiation in Consumer Marketing
Consumers' perceptions of products and brands are influenced by the marketing and promotional plan. Marketers must identify the key characteristics that are important to the target market and then ensure that their product stands out in the minds of the consumers as the best choice for purchase.
6. The Role of the Value Proposition in Marketing
A central strategy for marketers is value proposition, by which companies try to demonstrate why consumers should purchase their goods. This lesson shows how it works, as well as some real-life examples.
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Other chapters within the UExcel Principles of Marketing: Study Guide & Test Prep course
- Introduction to Marketing
- Marketing Environment Factors
- The Marketing Process
- Marketing Information & Research
- Consumer Buyer Behavior
- Business Buying Behavior
- Products, Services & Brands
- Distribution & Logistics
- Promotion, Advertising & Public Relations
- Direct & Online Marketing
- Selling & Pricing Strategies
- Global Marketing Strategies
- Social Responsibility & Marketing Ethics
- UExcel Principles of Marketing Flashcards