Segmentation & Targetting
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Transcript of Segmentation & Targetting
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IDENTIFYING MARKET
SEGMENTS AND TARGETS
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Target Marketing
Target marketing requires marketers totake three major steps:
Identify and profile distinct groups of buyerswho differ in their needs and preferences
(market segmentat ion). Select one or more market segments to enter
(market target ing).
For each target segment, establish and
communicate the key distinctive benefit(s) ofthe companys market offering (marketposi t ion ing).
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Using Market Segmentation
Segment Marketing
Niche Marketing
Local Marketing
Individual Marketing
Levels of Micromarketing
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What is a Market Segment?
A market segmentconsists of a group
of customers who share a similar set of
needs ad wants.
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What is Customerization?
Customerizationcombines operationally
driven mass customization with customized
marketing in a way that empowers
consumers to design the product and serviceoffering of their choice.
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Preference Segments
Homogeneous preferencesexist when
consumers want the same things
Diffused preferencesexist when consumers
want very different things
Clustered preferencesreveal natural
segments from groups with shared
preferences
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Using Market Segmentation
Basic Market-Preference Patterns
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Steps in Segmentation Process
Needs-based segmentation
Segment identification
Segment attractiveness
Segment profitability
Segment positioning
Segment acid test
Marketing-Mix
Strategy
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Segmenting Consumer Markets
Bases forSegmentation
Geographic
Demographic Psychographic
Behavioral
Age, race, gender
Income, education
Family size
Family life cycle
Occupation
Religion, nationality Generation
Social class
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Segmenting Consumer Markets
Bases forSegmentation
Geographic
Demographic Psychographic
Behavioral
Lifestyle
Activities
Interests
Opinions
Personality
Core values
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Segmenting Consumer Markets
Bases forSegmentation
Geographic
Demographic Psychographic
Behavioral
Occasions
Benefits User status
Usage rate
Loyalty status
Buyer-readiness Attitude
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Segmentation
Measurable Actionable
Substantial Accessible
Differentiable
Characteristics of Effective Segments
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Market Targeting Strategies
Evaluating and selecting market segments
requires assessing the segments overall
attractiveness in light of companys objectives and
resources.
Five patterns of target market selection can then
be considered.
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Market Targeting Strategies
Five Patterns o f Target Market Select ion
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