Post on 05-Apr-2018
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Identifying Market segments and Targets.
Presented to : Sir Naseer-UL-Haq
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Levels of market segmentation
Mass marketing Micro marketing: Segments Niches Local areas Individuals
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Segments
Flexible market offering: Naked solution Discretionary options
Preference segments: Homogenous preferences Diffused preferences Clustered preferences
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Niches Local marketing Individual marketing\one-one marketing
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Bases for segmenting consumer markets
On the bases of descriptive characteristics: Geographic Demographic Psychographic
On the bases of behavioral considerations:
Brands Use occasions Quality or price preferrences
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Geographic segmentation
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Demographic segmentation
Age and life cycle stage Gender Income Generation Social class
Family size Nationality Occupation Education Race
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Psychographic segmentation
Personality traits: Energy Self confidence Intellectualism Novelty
Lifestyle Values
Innovativeness Impulsiveness Leadership
vanity
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Continued..
Consumers motivated by ideals:Guided by knowledge and principal
Consumers motivated by achievements:Look for product and services
Consumer motivated by self expression: , , .
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Continued..
Consumers with Higherresources :
Innovators Thinker Achievers
Consumer with lower resource: Believers Strivers Makers Survivors
Experiences
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Behavioral segmentation
Variables are: Occasions Benefits User status Usage rate Buyer-readiness stage Loyalty status Attitude
Conversion model..
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Conversion model
Users: Convertible Shallow Average entrenched
Non users: Strongly unavailable Weekly unavailable Ambivalent Available
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Bases for segmenting business markets
Demographic Operating variable Purchasing approaches Situational factors Personal characteristics
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Effective segmentation criteria
Measurable Accessible Differentiable Actionable
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Evaluating and selecting the market segments
Single-segment concentration Selective specialization Product specialization Market specialization Full market coverage
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Additional considerations
Segment-by segment invasion plans Ethical choice of market targets
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Thank you..Any Questions ?????