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    Market Segmentation

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    21johncena
    This document provides an overview of key concepts in market segmentation, targeting, and positioning. It discusses: 1) The importance of segmentation to better satisfy customer needs and enhance profits. 2) The main steps in segmentation, targeting, and positioning including identifying bases for segmentation, evaluating segments, selecting targets, and developing positioning strategies. 3) Common bases used to segment consumer and business markets including geographic, demographic, and behavioral factors. 4) The importance of effective communication to deliver the chosen market position.

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    Market Segmentation

    Uploaded by

    21johncena
    100 views22 pages
    This document provides an overview of key concepts in market segmentation, targeting, and positioning. It discusses: 1) The importance of segmentation to better satisfy customer needs and enhance profits. 2) The main steps in segmentation, targeting, and positioning including identifying bases for segmentation, evaluating segments, selecting targets, and developing positioning strategies. 3) Common bases used to segment consumer and business markets including geographic, demographic, and behavioral factors. 4) The importance of effective communication to deliver the chosen market position.

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    This is use ful ppt on Market Segmentation for MBA Student I hope Guys u like it

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    This document provides an overview of key concepts in market segmentation, targeting, and positioning. It discusses: 1) The importance of segmentation to better satisfy customer needs and enhance profits. 2) The main steps in segmentation, targeting, and positioning including identifying bases for segmentation, evaluating segments, selecting targets, and developing positioning strategies. 3) Common bases used to segment consumer and business markets including geographic, demographic, and behavioral factors. 4) The importance of effective communication to deliver the chosen market position.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    100 views22 pages

    Market Segmentation

    Uploaded by

    21johncena
    This document provides an overview of key concepts in market segmentation, targeting, and positioning. It discusses: 1) The importance of segmentation to better satisfy customer needs and enhance profits. 2) The main steps in segmentation, targeting, and positioning including identifying bases for segmentation, evaluating segments, selecting targets, and developing positioning strategies. 3) Common bases used to segment consumer and business markets including geographic, demographic, and behavioral factors. 4) The importance of effective communication to deliver the chosen market position.

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    of 22

    7-1

    LETS LEARN MARKETING

    MARKETING IS FUUUUUUUUUUUUUUUUUNNNNNNNNNN

    7-2

    You see a gorgeous girl at a party. You go up to her and say: "I am very rich. Marry me!" That's Direct Marketing You're at a party with a bunch of friends and see a gorgeous girl. One of your friends goes up to her and pointing at you says: "He's very rich. Marry him." That's Advertising You see a gorgeous girl at a party. You go up to her and get her telephone number. The next day, you call and say: "Hi, I'm very rich. Marry me." That's Telemarketing

    7-3

    You're at a party and see gorgeous girl. You get up and straighten your tie, you walk up to her and pour her a drink, you open the door (of the car) for her, pick up her bag after she drops it, offer her ride and then say: "By the way, I'm rich. Will you marry me?"

    That's Public Relations


    You see a gorgeous girl at a party. You go up to her and say: "I am very rich. Marry me!" She gives you a nice hard slap on your face. That's Customer Feedback

    7-4

    You see a gorgeous girl at a party. You go up to her and before you say: "I'm rich, Marry me!" Your wife arrives. That's restriction for entering new markets

    7-5

    BASICS OF MARKETING

    Market Segmentation MBA

    7-6

    Introduction

    Market segmentation is the identification of portions of the market that are different from one another. Segmentation allows the firm to better satisfy the needs of its potential customers.

    A customer group within the market that has special characteristics which are significant to marketing strategy

    7-7

    Need and Benefits of Segmentation


    Better matching of customer needs Enhanced profits for business Better opportunities for growth Retain more customers Gain New Clients

    Steps in Segmentation, Targeting, and Positioning


    6. Develop Marketing Mix for Each Target Segment 5. Develop Positioning for Each Target Segment 4. Select Target Segment(s) 3. Develop Measures of Segment Attractiveness 2. Develop Profiles of Resulting Segments 1. Identify Bases for Segmenting the Market

    7-8

    Market Positioning

    Market Targeting

    Market Segmentation

    Step 1. Market Segmentation


    Levels of Market Segmentation
    Mass Marketing
    Same product to all consumers (no segmentation)

    7-9

    Segment Marketing
    Different products to one or more segments (some segmentation)

    Niche Marketing
    Different products to subgroups within segments ( more segmentation)

    Micromarketing
    Products to suit the tastes of individuals or locations (complete segmentation)

    Step 1. Market Segmentation


    Bases for Segmenting Consumer Markets
    Geographic
    Nations, states, regions or cities

    7-10

    Demographic
    Age, gender, family size and life cycle, or income

    Psychographic
    Social class, lifestyle, or personality

    Behavioral
    Occasions, benefits, uses, or responses,Loyalty

    Using Multiple Segmentation Bases: Geodemographics

    7-11

    Step 1. Market Segmentation


    Bases for Segmenting Business Markets

    7-12

    Personal Characteristics

    Demographics

    Situational Factors

    Bases for Segmenting Business Markets Purchasing Approaches

    Operating Characteristics

    Step 1. Market Segmentation


    Bases for Segmenting International Markets

    7-13

    Industrial Markets

    Geographic

    Economic

    Political/ Legal

    Cultural

    Intermarket

    Step 1. Market Segmentation


    Requirements for Effective Segmentation
    Measurable Accessible Substantial Differential Actionable

    7-14

    Size, purchasing power, profiles of segments can be measured. Segments must be effectively reached and served.

    Segments must be large or profitable enough to serve.

    Segments must respond differently to different marketing mix elements & actions.

    Must be able to attract and serve the segments.

    Step 2. Market Targeting


    Evaluating Market Segments Segment Size and Growth
    Analyze sales, growth rates and expected profitability.

    7-15

    Segment Structural Attractiveness


    Consider effects of: Competitors, Availability of Substitute Products and, the Power of Buyers & Suppliers.

    Company Objectives and Resources


    Company skills & resources relative to the segment(s). Look for Competitive Advantages.

    Step 2. Market Targeting


    Market Coverage Strategies
    Company Marketing Mix
    A. Undifferentiated Marketing

    7-16

    Market

    Company Marketing Mix 1 Company Marketing Mix 2 Company Marketing Mix 3


    B. Differentiated Marketing

    Segment 1 Segment 2 Segment 3

    Company Marketing Mix

    Segment 1 Segment 2 Segment 3

    C. Concentrated Marketing

    Step 2. Market Targeting


    Choosing a Market-Coverage Strategy
    Company Resources

    7-17

    Product Variability
    Products Stage in the Product Life Cycle Market Variability Competitors Marketing Strategies

    Step 3. Positioning for Competitive Advantage


    Products Position - the place the product occupies in consumers minds relative to competing products; i.e. Volvo positions on safety. Marketers must:

    7-18

    Plan positions to give products the greatest advantage Develop marketing mixes to create planned positions

    Step 3. Positioning for Competitive Advantage: Strategies


    Product Class Away from Competitors Product Attributes Benefits Offered
    C

    7-19

    G H

    Against a Competitor

    D E B F

    Usage Occasions

    Users

    Steps to Choosing and Implementing a Positioning Strategy


    Step 1. Identifying a set of possible competitive advantages: Competitive Differentiation.

    7-20

    Step 2. Selecting the right competitive advantage. Step 3. Effectively communicating and delivering the chosen position to the market.

    Developing Competitive Differentiation


    Product

    7-21

    Service

    Areas for Competitive Differentiation

    Personnel

    Image

    Selecting the Right Competitive Advantages


    Important

    7-22

    Profitable

    Affordable

    Criteria for Determining Which Differences to Promote

    Distinctive

    Superior

    Preemptive

    Communicable

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