One Approach to Analysis

Always consider Situational factors throughout this process

• Develop Potential Product Hierarchies

  In order to select potential competitors

• Select Potential Behavioral Segments and Consumer Life Cycle Stages

  In order to help select potential motivations and attitude functions

• Cross Possible Segments with Possible Motivations

  In order to look at possible Target Markets

• Develop Information (Attitude) Matrix

  In order to inspect for useful benefits and importance weights

• Understand the various Segments' Involvement Levels

  High, Low, Objective, Responsive, Situational, or Purchase

• Understand the Critical Points the Consumer Decision Model for each Potential Segment

  Where must marketing effort be brought to bear

• Understand the Learning Model(s) appropriate for considered Segments

  Classical, Operant, Cognitive

• Select Target Market(s) and Develop Core Strategy

  By matching benefits important to segments, benefit well and uniquely delivered by firm, and competitors to be positioned against

  Describe the Selected Target Market

  Include Demographics and Psychographics

  Describe the Market Offering

  In terms of what the market will value

  Describe the Competition

  In terms of how you will position against them

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