Market Segmentation, Targeting and Positioning Chapter 10.

Slides:

Advertisements

Similar presentations

Targeting, and Positioning for Competitive Advantage

Advertisements

PI – Describe the nature of target marketing in sport/event marketing

Explain the concept of market and market identification

Segmenting and Targeting Markets

Part Three Target Market Selection and Research Target Markets: Segmentation and Evaluation 7 7.

Target Markets: Segmentation and Evaluation

SEM A - Market Planning PE – Select target market appropriate for product/business to obtain the best return on marketing investment PI – Describe.

Targeting, and Positioning for Competitive Advantage

Learning Goals Learn the three steps of target marketing, market segmentation, target marketing, and market positioning Understand the major bases for.

IDENTIFYING MARKET SEGMENTS AND TARGETS

Marketing Segmentation

Copyright  2004 McGraw-Hill Australia Pty Ltd PPTs t/a Marketing: A Practical Approach 5/e by Peter Rix Slides Prepared by:Joe Rosagrata 4-1 Chapter 4.

STANDARD 1 OBJECTIVE 1 Students will understand the concept of market & market identification.

Avi Chemay presents  The aim of market segmentation is to increase sales, market share and profits  This is done by better understanding and responding.

Objectives Be able to define the three steps of target marketing: market segmentation, target marketing, and market positioning. Understand the major.

© 2011 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

Levels of Market Segmentation

To accompany A Framework for Marketing Management, 2nd Edition

Market Segmentation, Targeting, and Positioning

Chapter 10 Target Markets: Segmentation, Evaluation, and Positioning

Marketing Part II Indicator 1.04 – Employ marketing information to develop a marketing plan.

Target Markets: Segmentation and Evaluation

Basic Marketing Concepts

Marketing Management 13 April Customer-Driven Marketing Strategy: Creating Value for Target Customers.

What’s Happening? 0/09/10-best-lifes-too-short-for-wrong-job.html

Copyright © Houghton Mifflin Company. All rights reserved. 7–17–1 What Are Markets? Requirements of a Market –Must need or desire a particular product.

Market & Market ID  All people who share similar needs and wants and who have the ability to purchase a given product are a MARKET. You can be part of.

Segmentation, Targeting and Positioning. Divide a market into separate groups.

MarketingGoldenChapter 10 MARKET Consumer –vs- Organizational 4 Requirements –Need or desire for a specific product –Ability to purchase –Willing to use.

Market Segmentation Jeremy Kees, Ph.D.. Selecting and Serving Consumers Market Segmentation: the process of dividing a market into distinct subsets (segments)

(Chapter 9) Identifying Market Segments and Selecting Target Markets A single product can seldom meet the needs and desires of ___________________ Consumers.

MKT-MP-3.7 Market Segmentation. List all people in your family. How many: use deodorant use shampoo watch TV.

©2002 South-Western Chapter 7 Version 6e1 chapter Segmenting and Targeting Markets 7 7.

CHAPTER 8 Market Segmentation and Positioning. Market Segmentation Dividing the total heterogeneous market for a good or product into smaller groups which.

Objectives Be able to define the three steps of target marketing: market segmentation, target marketing, and market positioning. Understand the major.

CONSUMER PROFILES. STP Process (Market Segmentation, Target Market & Positioning Strategy) 1. Segment the Consumer Market 2. Select a Target Market 3.

Copyright © Houghton Mifflin Company. All rights reserved. 7–17–1 What Is a Market? Requirements of a Market –Must need or desire a particular product.

Sultan Ahmed Topic 05. Sultan Ahmed You would be able to answer the following questions after reading.

© 2007 The McGraw-Hill Companies, Inc., All Rights Reserved. McGraw-Hill/Irwin Marketing Management, 8e Chapter Five Market Segmentation Key Words / Outline.

Chapter 7- slide 1 Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall Chapter Seven Customer-Driven Marketing Strategy Creating Value.

Ms. Smith. Have you ever identified a target market? Well….if you have ever seen a commercial or made a purchase, you have already seen target markets.

Promotional Methods For Target Markets. How are Marketers Grouping You? People share things in common and are often times segmented into groups by these.

MARKETING CLASS Session II Marketing Strategy I Session II Marketing Strategy I.

2.02 Discuss the concept of market identification.

Kelley Fall Marketing Management Market Segmentation Definitions Market - people or organizations with (1) needs to satisfy, (2) money to spend.

PART 03 DESIGNING A CUSTOMER-DRIVEN MARKETING STRATEGY AND MIX.

PI – Describe the nature of target marketing in sport/event marketing

Segmentation, Targeting and Positioning Lecture no 6.

Market Segmentation and Target Marketing. Marketers rarely go after the entire market with one product, brand, or service. Why?

Principles of Marketing  This is possibly the most important topic of this entire course.  All marketing strategy and tactics need a good understanding.

U.3-MARKET SEGMENTATION. What is a Market? PEOPLE BUT - not just ANY people, they have to have Willingness to buy Purchasing power (money) Authority to.

MARKETING MANAGEMENT Segmentation, Targeting, and Positioning.

CHAPTER - 7 Market Segmentation, Targeting and Positioning

MARKETING MANAGEMENT Identifying Market Segments and Selecting Target Markets, Positioning & Differentiating the Market Offering through the Product Life.

Market Segmentation and Targeting

Segmentation, Targeting, and Positioning Building the Right Relationships with the Right Customers Chapter 7.

Segmentation, Targeting, and Positioning

2.02 Discuss the concept of market identification.

PI – Describe the nature of target marketing in sport/event marketing

Market Segmentation, Targeting and Positioning

Segments and Selecting

Segments and Selecting

MARKETING MANAGEMENT 12th edition

Slides Prepared by:Joe Rosagrata

SEM A - Market Planning PE – Select target market appropriate for product/business to obtain the best return on marketing investment PI – Describe.

2.02 Discuss the concept of market identification.

Segments and Selecting

CHAPTER 7 CUSTOMER DRIVEN MARKETING STRATEGY

Chapter 7 Identifying Market Segments and Selecting Target Markets by

2.02 Discuss the concept of market identification.

Presentation transcript:

Market Segmentation, Targeting and Positioning Chapter 10

What is a market segment? A group of customers within the same general market who are defined by: Differences from other groups Similarities within the group regarding wants, buying preferences, or buying behavior

Target Market The specific market segment for which the marketer designs a particular marketing mix

Market segmentation The process of dividing the total market for a good or service into smaller, internally homogeneous groups

Benefits of market segmentation Small firms- allocate resources to specifically defined and selected markets Medium firms- rapid growth Large firms- reach fragmented groups

Process of segmentation Identify current and potential wants within the market Identify characteristics that distinguish among the segments Determine the size of segments and how well they are being served

Characteristics of good market segments Differences in consumers Similarities within the segment Measurable attributes Large enough Accessible

Limitations of segmentation “Too small” segments Misread differences and similarities Cost inefficient Too many spin-offs Short term vs. long-term orientation Unable to use certain media Firms compete in too many segments Confuse people Products get locked in a declining segment Slow to seek innovative possibilities

The first cut: Ultimate vs. Business consumers

Consumer markets Geographic segmentation Demographic segmentation Psychographic segmentation Behavioral segmentation Benefits desired Usage rate

Geographic segmentation Regional distribution City or metro size Urban, suburban, rural Climate Trends Global marketing Micromarketing

Demographic segmentation Income/education level Age Age effects Cohort effects Gender Family life cycle Occupation Ethnicity/race

Psychographic segmentation Personality Lifestyle VALS Attitudes Opinions

Behavioral segmentation Benefits desired Usage rate

Segmenting business markets Customer location Customer type Size Organization structure Purchase criteria Transaction conditions Buying situation Usage rate Purchase procedure

Target market Strategy Analyze demand Homogeneous Clustered Diffused Aggregation strategy Single segment strategy Multiple segment strategy

Forecasting market demand Quantitative methods Qualitative methods

Basic forecasting terms Market share Market factor Market potential Sales potential Sales forecast

Forecasting sales Table 10-3