marketing and market segmentation. 2 getting to strategy where are the opportunities? vision...
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>>FACULTY OF TECHNOLOGY AND BUILT ENVIRONMENT 3 The Concept of Marketing The outside in approach to arriving at strategyTRANSCRIPT
Marketing and Market Segmentation
2
Getting to Strategy
Where are theopportunities? Vision Strategy
Environmentalconditions
Competitoractivity
YOUwhy are you doing this?what do you have to offer?your values
Customers wantsneeds & values
Competitive Advantage
Plan
>>FACULTY OF TECHNOLOGY AND BUILT ENVIRONMENT
3
The Concept of Marketing
The outside in approach to arriving at strategy
>>FACULTY OF TECHNOLOGY AND BUILT ENVIRONMENT
Market orientation – asking what the customer wants and delivering it (at a profit)
Customer focus rather than self focus.
Marketing definitions:
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“In business markets, almost every customer needs a customized product, quantity, or price. In fact, each segment effectively consists of one customer”
Das Narayandas “Building Loyalty in Business Markets”
Gary Hamel (London Business School)Deciding what a future market will look like and then stretching your firms skills so that it can take advantage of that market
Design
InvestorOwn / lease
TimeCost
QualityRisk taker
Existing building
New buildingUser
Home owner
Developer
Risk adverse
Customer Differentiation
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Thinking about specialisationMarket segmentation
Market Niches
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Major divisions of the market into groupings of customers that require significantly different products or serviceseg cars - cheap cars
medium size carsluxury vehicles
Market Segmentation
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Property DevelopmentQuantity surveying servicesConstruction Contractors
Take one of the following markets and describe how they are segmented?
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Kids bikesCommuter bikesRoad racing bikesMountain bikes
- general use- racing- freestyle- downhill
Corner pictures
Market niches
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Division of the market into small groups that have needs that Division of the market into small groups that have needs that can be better serviced by specialising in satisfying those can be better serviced by specialising in satisfying those needsneeds
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New buildings marketOther types of construction services
Describe some market niches in:
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Exercise 4
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