2 Mass MarketingMass production, mass distribution, and mass promotion to create largest potential market, thus reducing cost resulting to lower prices or higher profits.
3 MicromarketingAdopting strategies that will reach segments, niches, local areas or individuals
4 Segment MarketingAddressing to the needs of a group of customers who share similar needs and wants
5 Segment Marketing Flexible market offering Homogeneous preferences A process which contains two parts, a naked solution containing the product and service element that all segment members value and a discretionary option that some segment members valueHomogeneous preferencesAll members roughly have the same preference
6 Segment Marketing Diffused preferences Clustered preferences Members have varied preferencesClustered preferencesNatural market segments emerge from groups of customers with shared preferences
7 Niche MarketingAddressing to needs of a narrowly defined customer group seeking distinctive mix of benefits. This is done by dividing segments into subsegments
8 Local MarketingPreparing marketing programs tailored to the needs and wants of local customer groups in trading areas, neighborhoods, or individual stores
9 Individual MarketingAlso termed “segments of one”, “customized marketing”, or “one-to-one marketing”
10 Individual Marketing Customerization Empowering customers to design the product and service offering of their choice
11 Bases for Segmenting Customer Markets Geographical SegmentationDividing the market into different geographical units such as nations, regions, countries, cities, or neighborhoodsDemographic SegmentationDividing the market into groups based on variables such as age, family size, family life cycle, gender, income, occupation, education, religion, race, generation, nationality, and social class
12 Bases for Segmenting Customer Markets Psychographic SegmentationDividing the market into different groups on the basis of personality traits, lifestyle, or values. This method uses data from demographics and psychologyVALSThis system classifies people into 8 groups: innovators, thinkers, achievers, experiencers, believers, strivers, makers, survivors
14 Bases for Segmenting Customer Markets Behavioral SegmentationBuyers are groups according to their knowledge of, attitude towards, use of, or response to a product. This method is affected by two factors, the decision role and the behavioral variables
16 The Conversion ModelIt measures the strength of consumers’ psychological commitment to brands and their opened to change. Users are grouped as convertible, shallow, average and entrenched. Non-users are grouped as strongly unavailable, weakly unavailable, ambivalent, and available.
27 Additional Consideration Segment by Segment Invasion Plan
28 Additional Consideration MegamarketingThe strategic coordination of economic, psychological, political, and public relations skills, to gain the cooperation of a number of parties in order to enter or operate in a given market.
29 Additional Consideration Ethical Choice of Market Targets