Identifying Market segments and Targets.

Presented to : Sir Naseer-UL-Haq

Levels of market segmentation

Mass marketing Micro marketing: Segments Niches Local areas Individuals

Segments
Flexible market offering: Naked solution Discretionary options Preference segments: Homogenous preferences Diffused preferences Clustered preferences

 Niches Local marketing Individual marketing\one-one marketing

Bases for segmenting consumer markets

On the bases of descriptive characteristics: Geographic Demographic Psychographic On the bases of behavioral considerations: Benefits Brands Use occasions Quality or price preferrences

Geographic segmentation

Demographic segmentation
Age and life cycle stage Gender Income Generation Social class Family size Nationality Occupation Education Race

Psychographic segmentation

Personality traits: Energy Self confidence Intellectualism Novelty Innovativeness Impulsiveness Leadership vanity

Lifestyle Values

Continued..

Consumers motivated by ideals: Guided by knowledge and principal Consumers motivated by achievements: Look for product and services Consumer motivated by self expression: Desire social or physical activity, variety, risk etc.

Continued..
Consumers with Higher resources : Innovators Thinker Achievers Experiences Consumer with lower resource: Believers Strivers Makers Survivors

Behavioral segmentation

Variables are: Occasions Benefits User status Usage rate Buyer-readiness stage Loyalty status Attitude Conversion model..

Conversion model

Users: Convertible Shallow Average entrenched

Non users: Strongly unavailable Weekly unavailable Ambivalent Available

Bases for segmenting business markets

Demographic Operating variable Purchasing approaches Situational factors Personal characteristics

Effective segmentation criteria

Measurable Accessible Differentiable Actionable

Evaluating and selecting the market segments

Single-segment concentration Selective specialization Product specialization Market specialization Full market coverage

Additional considerations
Segment-by segment invasion plans Ethical choice of market targets

Thank you..
Any Questions ?????