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©2000 Prentice Hall ObjectivesObjectives ä Identifying Market Segments ä Choosing Target Markets
©2000 Prentice Hall Steps in Market Segmentation, Targeting,and Positioning 1.Identify segmentation variables and segment the market 2.Develop profiles of resulting segmentsMarketSegmentation 3. Evaluate attractiveness of each segment 4. Select the target segment(s)MarketTargeting 5. Identify possible positioning concepts for each target segment 6. Select, develop, and communicate the chosen positioning conceptMarketPositioning
©2000 Prentice Hall Basic Market-Preference Patterns (a) Homogeneous preferencesSweetness Creaminess (c) Clustered preferencesCreaminess Sweetness (b) Diffused preferencesCreaminess Sweetness
©2000 Prentice Hall Market-Segmentation Procedure ¶Survey ä Motivations ä Attitudes ä Behavior ·Analysis ä Factors ä Clusters ¸Profiling
©2000 Prentice Hall Bases for Segmenting Consumer Markets Occasions, Benefits, Uses, or Attitudes Behavioral Geographic Region, City or Metro Size, Density, Climate Demographic Age, Gender, Family size and Fife cycle, Race, Occupation, or Income... Lifestyle or Personality Psychographic
©2000 Prentice Hall Bases for Segmenting Business Markets ä Demographic ä Operating Variables ä Purchasing Approaches ä Situational Factors ä Personal Characteristics
©2000 Prentice Hall Measurable Accessible Substantial Differential Segments must be large or profitable enough to serve. Segments can be effectively reached and served. Actionable Size, purchasing power, profiles of segments can be measured. Segments must respond differently to different marketing mix elements & actions. Must be able to attract and serve the segments. Effective Segmentation
©2000 Prentice Hall Heavy and Light Users of Common Consumer Products HEAVY HALF LIGHT HALF PRODUCT (% USERS) 75% 71% Soups and detergents (94%) 25% 29% 79%21% Toilet tissue (95%) Shampoo (94%) 75%25% 17% Paper towels (90%) Cake mix (74%) Cola (67%) 83% 13% 5 % 87% 19% Beer (41%) Dog food (30%) Bourbon (20%) 81% 95%
©2000 Prentice Hall Additional Segmentation Criteria ä Ethical Choice of Market Targets ä Segment Interrelationships & Supersegments ä Segment-by-Segment Invasion Plans ä Intersegment Cooperation
©2000 Prentice Hall Five Patterns of Target Market Selection Single-segmentconcentrationProductspecialization M1 M2 M3 P1 P2 P3 Selectivespecialization M1 M2 M3 P1 P2 P3 M1 M2 M3 Full market coverage P1 P2 P3 Marketspecialization M1 M2 M3 P1 P2 P3 P1 P2 P3 M1 M2 M3 P = Product M = Market
©2000 Prentice Hall Segment-by-Segment Invasion Plan Customer Groups TruckersRailroadsAirlines Largecomputers Product Varieties Personalcomputers Mid-sizecomputers Company B Company C Company A
©2000 Prentice Hall ReviewReview ä Identifying Market Segments ä Choosing Target Markets
7-1 Chapter 7 PRINCIPLES OF MARKETING Market Segmentation, Targeting, and Positioning for Competitive Advantage.
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5-1 Chapter 5 PRINCIPLES OF MARKETING Consumer Markets and Consumer Buyer Behavior.
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Marketing: Helping Buyers Buy Chapter 13 McGraw-Hill/Irwin Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved.
( ) Why Is Segmentation Important? –CConsider a heterogeneous hypothetical market Scatter plot of ideal products of customers in the market.
CHAPTER 4 Promotion Opportunity Analysis. Promotions Opportunity Analysis Promotions Opportunity Analysis: The process marketers use to identify target.
MGMT14 marketing U U … mnm institute … makes sense.
Market Segmentation. Lesson Objectives Understand market segmentation Know benefits and disadvantages of market segmentation Have relevant examples for.
Chapter 2- slide 1 Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall Chapter Two Company and Marketing Strategy Partnering to Build.
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