Read Case 7.1 On Page 239 Of Your Book: Summarize The Case

Read Case 7 1 On Page 239 Of Your Book Summarize The Case And Answer

Read Case 7-1 on page 239 of your book. Summarize the case and answer the discussion questions in 5 pages. Don't forget to use outside scholarly research to incorporate any up-to-date information that may help to validate your thoughts.

7-1. In a recent interview, a brand manager at Procter & Gamble noted, “Historically, we used to be focused on discovering the common hopes and dreams within a country, but now we’re seeing that the real commonalities are in generations across geographic borders.” What is the significance of this comment in terms of segmenting and targeting?

7-2. Identify the five basic segmentation strategies. Give an example of a company that has used each one.

7-3. Explain the difference between segmenting and targeting.

7-4. What is positioning? Identify the different positioning strategies presented in the chapter and give examples of companies or products that illustrate each.

7-5. What is global consumer culture positioning (GCCP)? What other strategic positioning choices do global marketers have?

Paper For Above instruction

The case titled "Case 7-1" on page 239 of the textbook offers a fascinating insight into evolving marketing strategies, particularly in the context of segmentation and positioning in a globalized world. It centers around an interview with a brand manager at Procter & Gamble, who reflects on shifting paradigms in understanding consumer hopes and aspirations. Historically, companies targeted national or cultural commonalities, but recent trends suggest that generational commonalities across geographic borders are becoming more influential. This shift indicates that marketers need to reconsider how they segment and target consumer groups in a highly interconnected world, recognizing that age cohorts may exhibit similar preferences and behaviors regardless of location. This understanding can inform more precise and effective marketing strategies, emphasizing the importance of global generational groups rather than solely national identities.

Regarding the five basic segmentation strategies, they include demographic, geographic, psychographic, behavioral, and occasion segmentation. Demographic segmentation involves dividing the market based on age, gender, income, education, or family size. For example, Nike targets different demographic groups with specialized products such as women’s athletic apparel or youth-oriented shoes. Geographic segmentation considers location, such as urban versus rural or regional preferences; McDonald's regional menus exemplify this. Psychographic segmentation divides consumers based on lifestyles, values, or personalities; Patagonia targets environmentally conscious consumers. Behavioral segmentation focuses on consumer behaviors like purchase habits or brand loyalty, as seen with Amazon's personalized recommendations. Lastly, occasion segmentation targets consumers based on specific times or events, such as holiday-themed marketing campaigns during Christmas.

The difference between segmenting and targeting is fundamental. Segmenting involves dividing a broad consumer market into smaller groups based on shared characteristics, facilitating a more tailored approach. Targeting follows, involving selecting specific segments to focus marketing efforts on. While segmentation is about identifying homogeneous groups, targeting specifies which of these groups a company intends to reach and serve, thereby guiding advertising, product development, and distribution strategies.

Positioning refers to how a product or brand is perceived in the minds of consumers relative to competing offerings. Effective positioning creates a distinctive place for a brand in the consumer’s mind, highlighting unique benefits or attributes. Various positioning strategies include attribute positioning, where a product emphasizes specific features (e.g., Volvo’s safety reputation); benefit positioning, focusing on customer benefits (e.g., Crest whitening toothpaste); quality or superiority positioning, signaling premium standards (e.g., Rolex watches); price or value positioning, offering affordable luxury (e.g., Honda); and last but not least, user or class positioning, targeting specific user groups (e.g., Nike for athletes). These strategies help companies craft clear messages that resonate with their target segments and reinforce brand identity.

Global consumer culture positioning (GCCP) is a strategy where brands promote shared global lifestyles and values, appealing to consumers across borders through a universal message of consistency and global brand identity. An example is Coca-Cola’s branding as a symbol of happiness worldwide, transcending cultural differences. Other strategic positioning choices available to global marketers include local positioning, which emphasizes local values or associations; flexible positioning, adapting messaging to regional nuances; and hybrid positioning, combining global and local elements. This flexibility allows companies to balance global brand consistency with regional relevance, essential in diverse markets.

In conclusion, the case underscores the transformative nature of global marketing strategies, emphasizing the importance of understanding generational and cultural differences while also leveraging shared global trends. Marketers must carefully consider segmentation strategies, positioning options, and the strategic importance of global consumer identities. With the increasing interconnectedness of markets, especially among generational groups, developing sophisticated segmentation and positioning strategies is crucial for global brand success.

References

• Kotler, P., Keller, K. L. (2016). Marketing Management (15th ed.). Pearson Education.
• Hollensen, S. (2015). Marketing Management: A Relationship Approach (3rd ed.). Pearson.
• De Mooij, M. (2019). Global Marketing and Advertising: Understanding Cultural Paradoxes. Sage Publications.
• Levitt, T. (1983). The Globalization of Markets. Harvard Business Review, 61(3), 92-102.
• Trout, J., & Ries, A. (2000). Positioning: The Battle for Your Mind. McGraw-Hill Education.
• Schiffman, L., & Kanuk, L. (2010). Consumer Behavior (10th ed.). Pearson.
• Ghemawat, P. (2007). Redefining Global Strategy: Crossing Borders in a World Where Differences Still Matter. Harvard Business School Publishing.
• Rosenbaum-Elliott, R., Percy, L., & Pervan, S. (2015). Strategic Advertising Management (5th Ed.). Oxford University Press.
• Usunier, J.-C., & Lee, J. A. (2013). Marketing Across Cultures (6th ed.). Pearson.
• Coca-Cola Company. (2020). Annual Report. https://www.coca-colacompany.com/investors