April 26, 2023

Can target marketing ever be bad? Marketers constantly develop marketing programs to appeal to specific targets; some critics have denounced these efforts as exploitative. Target mar

Q1. Can target marketing ever be bad?
Marketers constantly develop marketing programs to appeal to specific targets;
some critics have denounced these efforts as exploitative.
Target marketers have established marketing campaigns to:
 Targeting people with diabetes for ancillary needs, such as equipment for
taking insulin levels, or
 Contact lens wearers where driver’s license information has been attained
from state registries, and
 Campaigns are developed for fundraising at universities where they target
wealthy alums for gifts.
Consider the following statements:
 Targeting minorities can be exploitative.
 Targeting minorities is a sound business practice.
Please take a position, pro or con, and make an argument to support your side.
Please use marketing principles to help your answer, such as explaining the 4Ps of
such products (i.e., Products Marketed – vice products Alcohol, Cigarettes and
also how promotion is deployed, where are billboards placed?)
Your answer should be at most 1+ page long. Hint: Review Chapter 7
Q2. What is a good mission statement?
Virtually all firms have mission statements. These declarations help guide and
inspire employees and signal what is essential to the firm to those outside the
company. Mission statements are often the product of much deliberation and
discussion.
At the same time, critics claim that mission statements sometimes lack teeth and
specificity. Moreover, critics also maintain, in many cases, that mission
statements are similar from firm to firm and therefore make the same empty
promises.

Please take a position:
 Are mission statements critical to successful marketing organizations? Or
 Are mission statements useless because they need to be more specific?
Answer at most 1+ pages long. Hint: Review Chapter 3. This assignment
represents 20% of your grade. Please plan on writing three total pages for this
assignment

Principles of Marketing Seventeenth Edition

Chapter 3 Analyzing the Marketing

Environment

Learning Objectives 3-1 Describe the environmental forces that affect the company’s ability to

serve its customers. 3-2 Explain how changes in the demographic and economic environments

affect marketing decisions. 3-3 Identify the major trends in the firm’s natural and technological

environments. 3-4 Explain the key changes in the political and cultural environments. 3-5 Discuss how companies can react to the marketing environment.

Learning Objective 1 Describe the environmental forces that affect the company’s ability to serve its customers.

A Company’s Marketing Environment The marketing environment includes the actors and forces outside marketing that affect marketing management’s ability to build and maintain successful relationships with target customers.

A Company’s Marketing Environment Microenvironment consists of the actors close to the company that affect its ability to serve its customers—the company, suppliers, marketing intermediaries, customer markets, competitors, and publics.

A Company’s Marketing Environment

Macroenvironment consists of the larger societal forces that affect the microenvironment—demographic, economic, natural, technological, political, and cultural forces.

The Microenvironment

The Microenvironment The Company

In designing marketing plans, marketing management takes other company groups into account. • Top management • Finance • R&D • Purchasing • Operations • Accounting

The Microenvironment

• Provide the resources to produce goods and services • Treat as partners to provide customer value

Suppliers

The Microenvironment Marketing Intermediaries

Marketing intermediaries are firms that help the company to promote, sell, and distribute its goods to final buyers.

The Microenvironment Marketing Intermediaries

Resellers Physical

distribution firms

Marketing services agencies

Financial intermediaries

The Microenvironment

Competitors

Firms must gain strategic advantage by positioning their offerings strongly against competitors’ offerings in the minds of consumers.

The Microenvironment Publics Any group that has an actual or potential interest in or impact on an organization’s ability to achieve its objectives: • Financial publics • Media publics • Government publics • Citizen-action publics • Local publics • General public • Internal publics

The Microenvironment Customers • Consumer markets • Business markets • Reseller markets • Government markets • International markets

Learning Objective 2 Explain how changes in the demographic and economic environments affect marketing decisions.

The Macro environment

The Macroenvironment Demographic Environment • Demography is the study of human populations—size, density, location,

age, gender, race, occupation, and other statistics. • Demographic environment involves people, and people make up

markets. • Demographic trends include changing age and family structures,

geographic population shifts, educational characteristics, and population diversity.

The Macroenvironment

Demographic Environment

• Baby Boomers – born 1946 to 1964 • Generation X – born between 1965 and 1976 • Millennials – born between 1977 and 2000 • Generation Z – born after 2000

The Macroenvironment Demographic Environment

Generational marketing is important in segmenting people by lifestyle or life stage instead of age.

The Macroenvironment Demographic Environment

• Changing American family • Changes in the workforce

The Macroenvironment Demographic Environment Geographic Shifts in Population • Growth in U.S. West and South and decline in

Midwest and Northeast • Change in where people work § Telecommuting § Home office

The Macroenvironment Demographic Environment

Markets are becoming more diverse. • International • National • Ethnicity • Gay and lesbian • Disabled

The Macroenvironment Economic Environment

The Macroenvironment

Economic Environment Changes in Consumer Spending Value marketing involves offering financially cautious buyers greater value—the right combination of quality and service at a fair price.

The Macroenvironment Economic Environment

Income Distribution Over the past several decades, the rich have grown richer, the middle class has shrunk, and the poor have remained poor.

Learning Objective 3

Identify the major trends in the firm’s natural and technological environments.

The Macroenvironment The Natural Environment

The natural environment is the physical environment and the natural resources that are needed as inputs by marketers or that are affected by marketing activities.

The Macroenvironment The Natural Environment

Trends in the Natural Environment • Growing shortages of raw materials • Increased pollution • Increased government intervention • Developing strategies that support environmental sustainability

The Macroenvironment Natural Environment Environmental sustainability involves developing strategies and practices that create a world economy that the planet can support indefinitely.

The Macroenvironment Technological Environment • Most dramatic force in changing the

marketplace • New products, opportunities • Concern for the safety of new products

Learning Objective 4

Explain the key changes in the political and cultural environments.

The Macroenvironment Political and Social Environment Legislation regulating business is intended to protect • companies from each other • consumers from unfair business practices • the interests of society against unrestrained business behavior

The Macroenvironment Political and Social Environment • Increased emphasis on ethics • Socially responsible behavior • Cause-related marketing

The Macroenvironment Cultural Environment

The cultural environment consists of institutions and other forces that affect a society’s basic values, perceptions, and behaviors.

The Macroenvironment

Cultural Environment Core beliefs and values are persistent and are passed on from parents to children and are reinforced by schools, churches, businesses, and government. Secondary beliefs and values are more open to change and include people’s views of themselves, others, organizations, society, nature, and the universe.

Learning Objective 5

Discuss how companies can react to the marketing environment.

Responding to the Marketing Environment Views on Responding

Uncontrollable

• React and adapt to forces in the environment

Proactive

• Take aggressive actions to affect forces in the environment

Reactive

• Watch and react to forces in the environment

Principles of Marketing Seventeenth Edition

Chapter 7

Customer Value-Driven Marketing Strategy: Creating Value for Target Customers

Learning Objectives 7-1 Define the major steps in designing a customer-driven marketing

strategy: market segmentation, targeting, differentiation, and positioning.

7-2 List and discuss the major bases for segmenting consumer and business markets.

7-3 Explain how companies identify attractive market segments and choose a market-targeting strategy.

7-4 Discuss how companies differentiate and position their products for maximum competitive advantage.

Learning Objective 1

Define the major steps in designing a customer-driven marketing strategy: market segmentation, targeting, differentiation, and positioning.

Customer-Driven Marketing Strategy

Learning Objective 2

List and discuss the major bases for segmenting consumer and business markets.

Market Segmentation Market segmentation requires dividing a market into smaller segments with distinct needs, characteristics, or behaviors that might require separate marketing strategies or mixes.

Market Segmentation • Segmenting consumer markets • Segmenting business markets • Segmenting international markets • Requirements for effective segmentation

Market Segmentation

Segmenting Consumer Markets

Geographi c

segmentati on

Demograp hic

segmentati on

Psychograp hic

segmentatio n

Behavioral segmentati

Market Segmentation Segmenting Consumer Markets

Geographic segmentation divides the market into different geographical units such as nations, regions, states, counties, cities, or even neighborhoods.

Market Segmentation Segmenting Consumer Markets

Demographic segmentation divides the market into segments based on variables such as age, life-cycle stage, gender, income, occupation, education, religion, ethnicity, and generation.

Market Segmentation Segmenting Consumer Markets Age and life-cycle stage segmentation divides a market into different age and life-cycle groups. Gender segmentation divides a market into different segments based on gender. Income segmentation divides a market into different income segments.

Market Segmentation

Segmenting Consumer Markets Psychographic segmentation divides a market into different segments based on social class, lifestyle, or personality characteristics.

Market Segmentation Segmenting Consumer Markets

Behavioral segmentation divides a market into segments based on consumer knowledge, attitudes, uses of a product, or responses to a product.

Market Segmentation Segmenting Consumer Markets

Behavioral Segmentation • Occasions • Benefits sought • User status • Usage rate • Loyalty status

Market Segmentation

Segmenting Consumer Markets Multiple segmentation is used to identify smaller, better-defined target groups. Experian’s Mosaic USA system classifies U.S. households into one of 71 lifestyle segments and 19 levels of affluence.

Market Segmentation Segmenting Business Markets Consumer and business marketers use many of the same variables to segment their markets. Additional variables include:

• Customer operating characteristics • Purchasing approaches • Situational factors • Personal characteristics

Market Segmentation Segmenting International Markets

Geographic location

Economic factors

Political and legal factors

Cultural factors

Market Segmentation Segmenting International Markets

Intermarket segmentation involves forming segments of consumers who have similar needs and buying behaviors even though they are located in different countries.

Market Segmentation Requirements for Effective Segmentation

Measurable Accessible Substantial

Differentiable Actionable

Learning Objective 3

Explain how companies identify attractive market segments and choose a market-targeting strategy.

Market Targeting Evaluating Market Segments

• Segment size and growth • Segment structural attractiveness • Company objectives and resources

Market Targeting Selecting Target Market Segments

A target market is a set of buyers who share common needs or characteristics that the company decides to serve.

Market Targeting Figure 7.2 Market-Targeting Strategies.

Market Targeting

Selecting Target Market Segments Undifferentiated marketing targets the whole market with one offer. • Mass marketing • Focuses on common needs rather than what’s different

Market Targeting Selecting Target Market Segments

Differentiated marketing targets several different market segments and designs separate offers for each. • Goal is to achieve higher sales and

stronger position • More expensive than undifferentiated

marketing

Market Targeting Selecting Target Markets Concentrated marketing targets a large of a smaller market. • Limited company resources • Knowledge of the market • More effective and efficient

Market Targeting Selecting Target Market Segments

Micromarketing is the practice of tailoring products and marketing programs to suit the tastes of specific individuals and locations. • Local marketing • Individual marketing

Market Targeting Selecting Target Market Segments Local marketing involves tailoring brands and promotion to the needs and wants of local customer segments. • Cities • Neighborhoods • Stores

Market Targeting Selecting Target Markets

Individual marketing involves tailoring products and marketing programs to the needs and preferences of individual customers. Also known as: • One-to-one marketing • Mass customization

Market Targeting Selecting Target Market Segments Choosing a targeting strategy depends on • Company resources • Product variability • Product life-cycle stage • Market variability • Competitor’s marketing strategies

Learning Objective 4

Discuss how companies differentiate and position their products for maximum competitive advantage.

Differentiation and Positioning Product position is the way the product is defined by consumers on important attributes.

Differentiation and Positioning

Positioning maps show consumer perceptions of marketer’s brands versus competing products on important buying dimensions.

Differentiation and Positioning Choosing a Differentiation and Positioning Strategy • Identifying a set of possible competitive advantages to build a position • Choosing the right competitive advantages • Selecting an overall positioning strategy • Communicating and delivering the chosen position to the market

Differentiation and Positioning Choosing a Differentiation and Positioning Strategy

Competitive advantage is an advantage over competitors gained by offering consumers greater value, either through lower prices or by providing more benefits that justify higher prices.

Differentiation and Positioning Choosing a Differentiation and Positioning Strategy Identifying a set of possible competitive advantages to differentiate along the lines of:

Product Services Channels People Image

Differentiation and Positioning Choosing a Differentiation and Positioning Strategy A competitive advantage should be:

Important Distinctive Superior

Communicable Preemptive Affordable

Profitable

Differentiation and Positioning Choosing a Differentiation and Positioning Strategy

Value proposition is the full mix of benefits upon which a brand is positioned.

Differentiation and Positioning

Choosing a Differentiation and Positioning Strategy Positioning statement summarizes company or brand positioning using this form: To (target segment and need) our (brand) is (concept) that (point of difference)

Differentiation and Positioning Choosing a Differentiation and Positioning Strategy

Positioning Statement Example for Evernote: “To busy multitaskers who need help remembering things, Evernote is a digital content management application that makes it easy to capture and remember moments and ideas from your everyday life using your computer, phone, tablet, and the Web.”

Differentiation and Positioning Communicating and Delivering the Chosen Position

Choosing the positioning is often easier than implementing the position. Establishing a position or changing one usually takes a long time. Maintaining the position requires consistent performance and communication.

Collepals.com Plagiarism Free Papers

Are you looking for custom essay writing service or even dissertation writing services? Just request for our write my paper service, and we'll match you with the best essay writer in your subject! With an exceptional team of professional academic experts in a wide range of subjects, we can guarantee you an unrivaled quality of custom-written papers.

Get ZERO PLAGIARISM, HUMAN WRITTEN ESSAYS

Why Hire Collepals.com writers to do your paper?

Quality- We are experienced and have access to ample research materials.

We write plagiarism Free Content

Confidential- We never share or sell your personal information to third parties.

Support-Chat with us today! We are always waiting to answer all your questions.

Can target marketing ever be bad? Marketers constantly develop marketing programs to appeal to specific targets; some critics have denounced these efforts as exploitative. Target mar

Related Posts

Financial Analysis Purpose This analysis is an individual assignment where you will analyze your own company in terms of its financial position.? The easi

GCU PHI413 Ethical and Spiritual Decision Making in Health Care All Discussions

GCU NRS440 Trends and Issues in Today’s Health Care All Discussions