IDENTIFYING MARKET SEGMENTS AND TARGETS
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Transcript of IDENTIFYING MARKET SEGMENTS AND TARGETS
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IDENTIFYING MARKET SEGMENTS AND TARGETS
IDENTIFYING MARKET SEGMENTS AND TARGETS
CHAPTER 9
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• What Market Segmentation Means Market segments Product differentiation
• Segmentation: Linking Needs to Action
WHY SEGMENT MARKETS?
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Market segmentation links market need to an Market segmentation links market need to an organization’s marketing programorganization’s marketing program
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• What Market Segmentation Means• How Reebok’s Segmentation Strategy Developed
• Using Market-Product Grids
WHY SEGMENT MARKETS?
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Market-product Grid: How Reebok shoes reach segments of customersMarket-product Grid: How Reebok shoes reach segments of customers
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• When to Segment Markets• One Product and Multiple Market Segments
• Multiple Products and Multiple Market Segments
• Segments of One: Mass Customization
• The Segmentation Trade Off: CRM versus synergies
WHY SEGMENT MARKETS?
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The process of segmenting and targeting The process of segmenting and targeting markets involves five key stepsmarkets involves five key steps
STEPS IN SEGMENTING AND TARGETING MARKETS
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• Form Prospective Buyers into Segments• Criteria to Use in Forming the Segments
Potential for increased profit and ROI Similarity of needs of potential buyers in a segment Difference of needs of buyers among segments Feasibility of a marketing action reaching segment Simplicity and cost of assigning buyers to markets
• Ways to Segment Consumer Markets Usage rate 80/20 rule
STEPS IN SEGMENTING AND TARGETING MARKETS
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Segmentation Segmentation variables and variables and breakdowns breakdowns for U.S. for U.S. consumer consumer marketsmarkets
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Segmentation variables and breakdowns for U.S. Segmentation variables and breakdowns for U.S. organizational marketsorganizational markets
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• Form Products to Be Sold into Groups
• Develop a Market-Product Grid and Estimate Size of Markets
STEPS IN SEGMENTING AND TARGETING MARKETS
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• Select Target Markets• Criteria to Use in Picking the Target Segments
Market size Expected growth Competitive position Cost of reaching the segment Compatibility with objectives and resources
• Choose the Segments
• Take Marketing Actions to Reach Target Markets• Your Wendy’s Segmentation Strategy
• Apple’s Ever-Changing Segmentation Strategy
STEPS IN SEGMENTING AND TARGETING MARKETS
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• Developing Cross-Tabulations• Pairing the Questions
• Forming Cross-Tabulations
• Interpreting Cross-Tabulations
• Value of Cross-Tabulations
ANALYZING MARKET SEGMENTS USING CROSS-TABULATIONS
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• Two Approaches to Product Positioning Head-to-head positioning Differentiation positioning
POSITIONING THE PRODUCT