Marketing objectives and marketing strategies
This chapter shows how to formulate marketing objectives, describes the methods for targeting customers, and presents the principles of and methods for positioning. It explores the role of the brand and suggests how to choose a brand name and brand design. The chapter provides guidelines for managing brands over products (extensions), internationally, and over time (crisis management) and explores the first dimension of the marketing strategy. Market segmentation involves dividing the market into buyers’ groups that may require different products and different marketing mix strategies. Several steps need to be taken in choosing target groups on the basis of segments. The ultimate choice of target groups also depends on the branding strategy, since it may be easier to serve different segments by using sub-brands. Online behaviour enables a new form of targeting, the behavioural targeting.