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MARKET SEGMENTATION

MARKET SEGMENTATION. TARGETING & POSITIONING. SEGMENTATION. Aggregating prospective buyers into groups that : HAVE COMMON NEEDS & RESPOND SIMILARLY TO MARK. MIX STEPS IN SEGMENTING: Form prospective buyers into segments Form products into groups Develop a Product-Market Grid Select TM’s

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MARKET SEGMENTATION

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  1. MARKET SEGMENTATION TARGETING & POSITIONING

  2. SEGMENTATION • Aggregating prospective buyers into groups that: HAVE COMMON NEEDS & RESPOND SIMILARLY TO MARK. MIX • STEPS IN SEGMENTING: • Form prospective buyers into segments • Form products into groups • Develop a Product-Market Grid • Select TM’s • Take marketing action to reach segment

  3. CRETERIA FOR SUCCESSFUL SEG • SUBSTANTIALITY • IDENTIFIABILITY& MEASURABILITY • ACCESSIBILITY • RESPONSIVENESS

  4. MARKET-PRODUCT GRID P RUN AERO. TEN BB CHIL GOLF M PERFORM FASHION. HEALTH

  5. SEGMENTATION VARIABLES • GEOGRAPHIC • DEMOGRAPHIC-Age, Gender, Income, Ethnic, Family Life-Cycle • SOCIOECONOMIC • PSYCHOGRAPHIC-Personality, Motives, Lifestyles, Geodemographic • VALS 2 • OUTLET TYPE • BENEFITS SOUGHT • USAGE • 80/20 RULE • AWARENESS & INTENTIONS • BEHAVIOR

  6. VALS 2 • ACTUALIZERS-Successful, Sophisticated, Active • FULFILLERS-Mature, Satisfied, Comfortable • BELIEVERS-Conservative, Conventional • ACHIEVERS-Successful career & work oriented • STRIVERS-Seek motivation, Self-definition & approval • EXPERIENCERS-Young, Enthusiastic, Impulsive • MAKERS-Practical people who value self-sufficiency • STRUGGLERS-Poor, Ill educated, Low skilled

  7. CROSS TAB ANALYSIS • Method of presenting and relating data having two or more variables! • Simple format permits direct interpretation • Easy way of communicating data to management • EXAMPLE: FAST FOOD CONSUMPTION • AGE OF HEAD OF HOUSEHOLD • FREQUENCY of PATRONAGE

  8. CROSS TABS-AGE/FREQUENCY 1+ A WEEK 2-3 TIMES A MONTH ONCE A MONTH OR LESS AGE 24% 9% 100% 67% <24 44% 22% 35% 24-39 100% 37% 100% >39 29% 34% 31% 23% 100% 46%

  9. POSITIONING • REFERS TO THE PLACE AN OFFERING OCCUPIES IN CONSUMERS` MINDS ON IMPORTANT ATTRIBUTES RELATIVE TO COMPETITIVE OFFERINGS! • TWO APPROACHES: • HEAD TO HEAD • DIFFERENTIATION POSITIONING • PERCEPTUAL MAP-Displaying in two dimensions the position of products or brands. • REPOSITIONING

  10. PERCEPTUAL MAP-GOLF CLUBS HIGH PRICE CALLAWAY HIGH QUALITY LOW QUALITY BIG BUDDY BUILD IT YOURSELF WAL-MART LOW PRICE

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