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    8 Identifying Market Segments and Targets

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    raisehell
    This document discusses market segmentation and targeting. It identifies four levels of micromarketing segments including niches, local areas, and individuals. Effective segmentation requires identifying distinct groups of buyers based on their needs and preferences. Segments should be targeted based on the distinctive benefits offered to that group. The key steps in the segmentation process include identifying segments based on needs, evaluating segment attractiveness and profitability, positioning within segments, and developing marketing mix strategies for each segment.

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    8 Identifying Market Segments and Targets

    Uploaded by

    raisehell
    8 views14 pages
    This document discusses market segmentation and targeting. It identifies four levels of micromarketing segments including niches, local areas, and individuals. Effective segmentation requires identifying distinct groups of buyers based on their needs and preferences. Segments should be targeted based on the distinctive benefits offered to that group. The key steps in the segmentation process include identifying segments based on needs, evaluating segment attractiveness and profitability, positioning within segments, and developing marketing mix strategies for each segment.

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    Identifying Market Segments and Targets

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    08

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    This document discusses market segmentation and targeting. It identifies four levels of micromarketing segments including niches, local areas, and individuals. Effective segmentation requires identifying distinct groups of buyers based on their needs and preferences. Segments should be targeted based on the distinctive benefits offered to that group. The key steps in the segmentation process include identifying segments based on needs, evaluating segment attractiveness and profitability, positioning within segments, and developing marketing mix strategies for each segment.

    Copyright:

    © All Rights Reserved
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    8 views14 pages

    8 Identifying Market Segments and Targets

    Uploaded by

    raisehell
    This document discusses market segmentation and targeting. It identifies four levels of micromarketing segments including niches, local areas, and individuals. Effective segmentation requires identifying distinct groups of buyers based on their needs and preferences. Segments should be targeted based on the distinctive benefits offered to that group. The key steps in the segmentation process include identifying segments based on needs, evaluating segment attractiveness and profitability, positioning within segments, and developing marketing mix strategies for each segment.

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    © All Rights Reserved
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    of 14

    8

    Identifying Market
    Segments and Targets

    Effective Targeting Requires


    Identify and profile distinct groups of
    buyers who differ in their needs and
    preferences.
    Select one or more market segments to
    enter.
    Establish and communicate the distinctive
    benefits of the market offering.

    8-2

    Four Levels of Micromarketing


    Segments
    Niches
    Local areas
    Individuals

    8-3

    Segment Marketing

    Targeting a group of customers


    who share a similar set of
    needs and wants.

    8-4

    Flexible Marketing Offerings

    Naked solution
    Product and
    service elements
    that all segment
    members value

    Discretionary options
    Some segment
    members value
    Options may carry
    additional charges

    8-5

    The Experience Economy


    Experience
    Services
    Goods
    Commodity

    8-6

    Customerization
    Combines operationally driven
    mass customization with customized
    marketing in a way that empowers
    consumers to design the
    product and service offering
    of their choice.
    8-7

    Segmenting Consumer Markets


    Geographic
    Demographic
    Psychographic
    Behavioral

    8-8

    Demographic Segmentation
    Age and Life Cycle
    Life Stage
    Gender
    Income
    Generation
    Social Class

    8-9

    Behavioral Segmentation

    Decision Roles
    Initiator
    Influencer
    Decider
    Buyer
    User

    Behavioral Variables
    Occasions
    Benefits
    User Status
    Usage Rate
    Buyer-Readiness
    Loyalty Status
    Attitude
    8-10

    Segmenting for Business Markets


    Demographic
    Operating Variable
    Purchasing Approaches
    Situational Factors
    Personal Characteristics

    8-11

    Models of Sequential Segmentation

    Stage of decision
    First-time prospects
    Novices
    Sophisticates

    Orientation
    Price-oriented
    Solution-oriented
    Strategic-value

    8-12

    Steps in Segmentation Process


    Needs-based segmentation
    Segment identification
    Segment attractiveness
    Segment profitability
    Segment positioning
    Segment acid test
    Marketing-mix strategy

    8-13

    Effective Segmentation Criteria


    Measurable
    Substantial
    Accessible
    Differentiable
    Actionable

    8-14

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