Market Segmentation. "The marketer should stop thinking of his customers as part of some massively...
-
Upload
grant-barnett -
Category
Documents
-
view
218 -
download
0
Transcript of Market Segmentation. "The marketer should stop thinking of his customers as part of some massively...
"The marketer should stop thinking of his customers as part of some massively homogeneous market. He must start thinking of them as numerous small islands of distinctiveness, each of which requires its own unique strategies in product policy, in promotional strategy, in pricing, in distribution methods, and in direct selling techniques.”
T. Levitt, Marketing for Business Growth, Mc Graw Hill, New York, 1974, p. 69
Market Segmentation
The overall market is divided into distinct groups of buyers who are likely to respond favorably to different market mixes.
Levels of Market Segmentation
Mass MarketingSame product to all consumers
(no segmentation)
Mass MarketingSame product to all consumers
(no segmentation)
Segment MarketingDifferent products to one or more segments
(some segmentation)
Segment MarketingDifferent products to one or more segments
(some segmentation)
MicromarketingProducts to suit the tastes of individuals and locations
(complete segmentation)
MicromarketingProducts to suit the tastes of individuals and locations
(complete segmentation)
Niche MarketingDifferent products to subgroups within segments
(more segmentation)
Niche MarketingDifferent products to subgroups within segments
(more segmentation)
Local MarketingTailoring brands/ promotions to
local customer groups
Individual MarketingTailoring products/ programs to
individual customers