Professional Documents
Culture Documents
Customer-Driven
Marke2ng
Strategy:
Crea2ng
Value
for
Target
Customers
Copyright 2014 by Pearson Education, Inc. All rights reserved
Market
Segmenta-on
Market
Targe-ng
Dieren-a-on
and
Posi-oning
Market Segmentation
Market Segmentation
Market
segmenta2on
Dividing
a
market
into
smaller
segments
with
dis-nct
needs,
characteris-cs,
or
behavior
that
might
require
separate
marke-ng
strategies
or
mixes.
Market Segmentation
Segmen-ng
consumer
markets
Segmen-ng
business
markets
Segmen-ng
interna-onal
markets
Requirements
for
eec-ve
segmenta-on
Market Segmentation
Segmen2ng
Consumer
Markets
Geographic
segmentation
Demographic
segmentation
Psychographic
segmentation
Behavioral
segmentation
Market Segmentation
Segmen2ng
Consumer
Markets
Market Segmentation
Segmen2ng
Consumer
Markets
Demographic
segmenta2on
divides
the
market
into
groups
based
on
variables
such
as
age,
gender,
family
size,
family
life
cycle,
income,
occupa-on,
educa-on,
religion,
race,
genera-on,
and
na-onality
Copyright 2014 by Pearson Education, Inc. All rights reserved
Market Segmentation
Age
and
life-cycle
stage
segmenta2on
is
the
process
of
oering
dierent
products
or
using
dierent
marke-ng
approaches
for
dierent
age
and
life-cycle
groups
Gender
segmenta2on
divides
the
market
based
on
sex
(male
or
female)
Market Segmentation
Segmen2ng
Consumer
Markets
Income
segmenta2on
divides
the
market
into
auent,
middle-income
or
low-
income
consumers
Psychographic
segmenta2on
divides
buyers
into
dierent
groups
based
on
social
class,
lifestyle,
or
personality
traits
Market Segmentation
Segmen2ng
Consumer
Markets
Market Segmentation
Using
Mul2ple
Segmenta2on
Bases
Mul2ple
segmenta2on
is
used
to
iden-fy
smaller,
beSer-dened
target
groups
Market Segmentation
Segmen2ng
Interna2onal
markets
Geographic
location
Economic
factors
Politicallegal factors
Cultural
factors
Market Segmentation
Segmen2ng
Interna2onal
Markets
Market Segmentation
Requirements
for
Eec2ve
Segmenta2on
To
be
useful,
market
segments
must
be:
Measurable
Accessible
Substantial
Differentiable
Actionable
Market Targeting
Selec2ng
Target
Market
Segments
Target
market
consists
of
a
set
of
buyers
who
or
characteris-cs
that
share
common
needs
Market Targeting
Evalua2ng
Market
Segments
Segment
size
and
growth-
.
Segment
structural
aSrac-veness
a
segment
is
less
aSrac-ve
if
it
already
contains
many
strong
and
aggressive
compe>tors
or
if
it
is
easy
for
new
entrants
to
come
into
the
segment.
The
existence
of
many
actual
or
poten-al
subs>tute
products
may
limit
prices
and
the
prots
that
can
be
earned
in
a
segment.
The
rela-ve
power
of
buyers
also
aects
segment
aSrac-veness.
Buyers
with
strong
bargaining
power
rela-ve
to
sellers
will
try
to
force
prices
down,
demand
more
services,
and
set
compe-tors
against
one
anotherall
at
the
expense
of
seller
protability.
Finally,
a
segment
may
be
less
aSrac-ve
if
it
contains
powerful
suppliers
who
can
control
prices
or
reduce
the
quality
or
quan-ty
of
ordered
goods
and
services.
Market Targeting
Target
Marke2ng
Strategies
Market Targeting
Target
Marke2ng
Strategies
Market Targeting
Marketing Targeting
Target
Market
Strategies
Market Targeting
Target
Market
Strategies
Market Targeting
Target
Market
Strategies
Individual
marke2ng
involves
tailoring
products
and
marke-ng
programs
to
the
needs
and
preferences
of
individual
customers
Also
known
as:
One-to-one
marke-ng
Mass
customiza-on
Market Targeting
Depends
on:
Choosing
a
Target
Market
Company
resources
-
When
the
rm s
resources
are
limited,
concentrated
marke-ng
makes
the
most
sense
Market Targeting
Socially
Responsible
Target
Marke2ng
Distinctive
Superior
Communicable
Preemptive
Affordable
Profitable
Value
proposi2on
is
the
full
mix
of
benets
upon
which
a
brand
is
posi-oned