Market Segmentation & Targeting
-
Upload
sonam-jain -
Category
Documents
-
view
235 -
download
0
Transcript of Market Segmentation & Targeting
-
8/8/2019 Market Segmentation & Targeting
1/22
MARKETSEGMENTATION&
TARGETINGLecturer
Ms. Sonam Khanna
-
8/8/2019 Market Segmentation & Targeting
2/22
CU STOMER VALU E PROPOSITION
It refers to the way an organization will distinguish
itself from its competitors.
It entails how a company will draw, hold on to &
strengthen its relationship with target customers.
It aids a company to improve interaction with its
customers.
-
8/8/2019 Market Segmentation & Targeting
3/22
4-3
A Market Consists ofProspective buyers willing and able topurchase the existing or potentialoffering of an organization.
Focus onBuyers Effective
Demand Offeringrather thanproduct orservice Market
Share
-
8/8/2019 Market Segmentation & Targeting
4/22
MarketSegmentation
the process of aggregating prospective buyers into groups,or segments, that:
(1)have common needs, and;(2)will respond similarly to a marketing action.
-
8/8/2019 Market Segmentation & Targeting
5/22
PU RPOSE
OFSEGMENTATION
C ustomers becoming more prosperous, with changingvalues, experiences leads to formation of new segments.
-
8/8/2019 Market Segmentation & Targeting
6/22
4-6
B enefits of Market Segmentation
Identifies opportunities for newproduct development
Helps design marketing programsmost effective for reaching
homogenous groups of buyers
Improves allocation of marketingresources
-
8/8/2019 Market Segmentation & Targeting
7/22
4-7
E ach Market Segment should be
MeasurableMeasurable
DifferentiableDifferentiable
AccessibleAccessible
SubstantialSubstantial
-
8/8/2019 Market Segmentation & Targeting
8/22
STEPS IN SEGMENTING
AND TARGETING MARKETS
STEPS IN SEGMENTING
AND TARGETING MARKETSThe five key steps in segmenting and targeting markets link marketneeds of customers to the organization s marketing program.
-
8/8/2019 Market Segmentation & Targeting
9/22
Criteria to Use in Forming the Segments
P otential for increased profit and ROISimilarity of needs of potential buyers
within a segment
Difference of needs of buyers amongsegments
Feasibility of a marketing action to reach a
segmentSimplicity and cost of assigning potential
buyers to segments
-
8/8/2019 Market Segmentation & Targeting
10/22
TARGET MARKET STRATEGIES
UN DIFFERENT IATEDTARGETIN G
MU LT I-SEGMETNT TARGET IN G
CONC ERNT RATEDTARGETIN G
-
8/8/2019 Market Segmentation & Targeting
11/22
B ASIS OF SEGMENTATION
-
8/8/2019 Market Segmentation & Targeting
12/22
B EHAVIOU RIALSEGMENTATION
B ENEFITS SOU GHT
PU RCHASE OCC ASION
PU RCHASE B EHAVIOU RB RAND LOYALTY
U SAGEPERCEPTION & B ELIEFS
-
8/8/2019 Market Segmentation & Targeting
13/22
PSYCHOGRAPHIC SEGMENTATION
PERSONALITY
LIFESTYLE
PROFILESEGMENTATION
-
8/8/2019 Market Segmentation & Targeting
14/22
DEMOGRAPHIC SEGMENTATION
-
8/8/2019 Market Segmentation & Targeting
15/22
SEGMENTING
ORGANIZATIONAL MARKETS
-
8/8/2019 Market Segmentation & Targeting
16/22
-
8/8/2019 Market Segmentation & Targeting
17/22
MICROSEGMENTATION
CH OIC E CRITERIA
DEC ISION MAKIN G UN IT
STRUCTU RE
DEC ISION MAKIN G P ROC ESS B
UY CLASS
PU RCH ASIN GORGAN IZATION
ORGAN IZATION ALINN OVAT IVEN ESS
-
8/8/2019 Market Segmentation & Targeting
18/22
EVALU ATING MARKET SEGMENTS
& TARGET MARKET SELEC
TIONComparing which segments are more
attractive
Capability of the company for
competition among various segments.
-
8/8/2019 Market Segmentation & Targeting
19/22
FAC TORS FOR MARKET
ATTRACTIVENESSSEGMENT SIZESEGMENT GROWTH RATE
PRIC E SENSITIVITYB ARGAINING POWER OF CU STOMERSB ARGAINING POWER OF SU PPLIERSB ARRIERS TO MARKET SEGMENT ENTRY
B ARRIERS TO MARKET SEGMENT EXIT
-
8/8/2019 Market Segmentation & Targeting
20/22
COMPETITIVE FAC TORS FOR
MARKET ATTRAC TIVENESSNATU RE OFCOMPETITION
NEW ENTRANTS
COMPETITIVE
DIFFERENTIATION
-
8/8/2019 Market Segmentation & Targeting
21/22
FIRM SCAPAB ILITY TO
SERVE SEGMENTSExploitable marketing assets
Cost Advantage
Technological Edge
Managerial C apabilities & Commitment
-
8/8/2019 Market Segmentation & Targeting
22/22