8-1 Chapter Questions How can markets be segmented? How can a company best divide a market into segments? How should a company choose the most attractive.

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Presentation transcript:

8-1 Chapter Questions How can markets be segmented? How can a company best divide a market into segments? How should a company choose the most attractive target markets? What are the requirements for effective targeting?

8-2 Mature consumers are a rapidly growing market

8-3 Segmenting Consumer Markets Geographic Demographic Psychographic Behavioural

8-4 Basic Market Preference Patterns

8-5 Effective Targeting Criteria Measurable Substantial Accessible Differentiable Actionable

8-6 Effective Targeting Requires… Identify and profile distinct groups of people who differ in their needs and preferences. Select one or more market segments to target. Establish and communicate the distinctive benefits of the market offering.

Water Use: 8 Identified Audiences! First priority audiences: –Local/elected officials –Operators –Homeowners/landowners –Watershed groups/associations Second priority audiences: –Homeowner associations, septic professionals, civic groups, NCWS See detailed information on each audience

Local/Elected Officials Who: Many levels of leadership, often not a full-time job as a leader Knowledge: Ins and outs of local community Motivators: Serving community, reduced complaints, saving money Barriers: Lack of time and financial cost to address issue

Community Water System Operators Who: In charge of many things, not just water system Knowledge: About doing their job, but less about community outreach/policy change Motivators: Do the right thing, save time, less monitoring Barriers: Don’t have authority, little time

Homeowners and Landowners Who: Individuals with on-site septic systems living in small communities Knowledge: Know about on-site systems Motivators: Protect water, save money, protect property values Barriers: Source of problem may be outside jurisdiction, limited interest until “crisis” occurs

Watershed Groups and Associations Who: Groups with a specific water focus Knowledge: Lots about water in general, not as much about septic/drinking water Motivators: Doing the right thing, making a difference, activism Barriers: Distrusts industry, dislikes compromise

Homeowner Associations Who: Groups of homeowners living in clustered communities Knowledge: Varies greatly, some will know more than others about this issue Motivators: Protecting drinking water, saving money Barriers: Issue is complex and potentially expensive to deal with

Septic Installers and Service Providers Who: Mostly small business people who interact with customers Knowledge: Lots about septic, less about source water protection Motivators: Business-oriented, making money Barriers: Lack of time

Civic/Special Interest Groups Who: Involved individuals within a community Knowledge: How to get things done in their community Motivators: Doing the right thing, positive publicity Barriers: Competing with other issues

Non-Community Water Systems Who: Mostly part-time operators Knowledge: Often understand both drinking water and wastewater Motivators: Technical assistance, ability to be involved in community Barriers: Lack of time, not adept at communications with others

Similarities Across all Groups Time is limited Prefer short messages Agreement that issue is important, but understanding is limited/incomplete Few resources (financial or time) to readily devote to this issue Other competing priorities

Differences Across Groups Initial interest in this topic Willingness to work on this topic Level of authority to solve problem or address issue Level of comfort in working with others in community to solve problems Communication styles and preferences