1 / 25

MARKETING MANAGEMENT

MARKETING MANAGEMENT. 8 Identifying Market Segments and Targets. Chapter Questions. What are the different levels of market segmentation? How can a company divide a market into segments? How should a company choose the most attractive target markets?

aleron
Download Presentation

MARKETING MANAGEMENT

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. MARKETING MANAGEMENT 8 Identifying Market Segments and Targets

  2. Chapter Questions • What are the different levels of market segmentation? • How can a company divide a market into segments? • How should a company choose the most attractive target markets? • What are the requirements for effective segmentation?

  3. Mature consumers are a rapidly growing market

  4. Effective Targeting Requires… • Identify and profile distinct groups of buyers who differ in their needs and preferences. • Select one or more market segments to enter. • Establish and communicate the distinctive benefits of the market offering.

  5. A Mass Market Approach

  6. General Motors Alfred P. Sloan “A car for every purse and purpose” • Cadillac • Oldsmobile • Pontiac • Buick • Chevrolet

  7. Mercedes

  8. Volvo

  9. Volvo

  10. Four levels of Micromarketing Segments Niches Local areas Individuals

  11. Basic Market Preference Patterns

  12. Customerization Combines operationally driven mass customization with customized marketing in a way that empowers consumers to design the product and service offering of their choice.

  13. Segmenting Consumer Markets Geographic Demographic Psychographic Behavioural

  14. Demographic Segmentation Age and Life Cycle Life Stage Gender Income Generation Social Class

  15. Toyota Scion targets Gen Y consumers

  16. Stage of decision First-time prospects Novices Sophisticates Orientation Price-oriented Solution-oriented Strategic-value Models of Sequential Segmentation

  17. Patterns of Target Market Selection

  18. Patterns of Target Market Selection

  19. Effective Segmentation Criteria Measurable Substantial Accessible Differentiable Actionable

More Related