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Presentation on Identifying Market Segments and Targets AssignmentPoint

Learn the importance of market segmentation, differentiate products, link needs to actions, and utilize market-product grids for effective targeting. Explore steps in segmenting and targeting markets, utilizing segmentation variables for consumer and organizational markets, selecting target markets, and positioning products strategically through perceptual maps.

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Presentation on Identifying Market Segments and Targets AssignmentPoint

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  1. Presentation on Identifying Market Segments and Targets www.AssignmentPoint.com

  2. WHY SEGMENT MARKETS? • What Market Segmentation Means • Market segments • Product differentiation • Segmentation: Linking Needs to Action

  3. Market segmentation links market needs to an organization’s marketing program

  4. WHY SEGMENT MARKETS? • What Market Segmentation Means(cont) • How Reebok’s Segmentation Strategy Developed

  5. Reebok market-product grid showing how different shoes reach segments of customers with different needs

  6. WHY SEGMENT MARKETS? • What Market Segmentation Means • Using Market-Product Grids

  7. WHY SEGMENT MARKETS? • When to Segment Markets • One Product and Multiple Market Segments • Multiple Products and Multiple Market Segments • Segments of One: Mass Customization • The Segmentation Trade Off: CRM versus synergies

  8. STEPS IN SEGMENTING AND TARGETING MARKETS

  9. STEPS IN SEGMENTING AND TARGETING MARKETS • Form Prospective Buyers into Segments • Criteria to Use in Forming the Segments • Potential for increased profit and ROI • Similarity of needs of potential buyers in a segment • Difference of needs of buyers among segments • Feasibility of a marketing action reaching segment • Simplicity and cost of assigning buyers to markets

  10. Segmentation variables and breakdowns for U.S. consumer markets

  11. STEPS IN SEGMENTING AND TARGETING MARKETS • Ways to Segment Consumer Markets • Usage rate • 80/20 rule

  12. Comparison of various kinds of users and nonusers for Wendy’s, Burger King, and McDonald’s restaurants

  13. Fast-Food Patronage: Simmons Fall 2001 National Consumer Survey

  14. Segmentation variables and breakdowns for U.S. organizational markets

  15. STEPS IN SEGMENTING AND TARGETING MARKETS • Form Products to Be Sold into Groups • Develop a Market-Product Grid and Estimate Size of Markets

  16. STEPS IN SEGMENTING AND TARGETING MARKETS • Select Target Markets • Criteria to Use in Picking the Target Segments • Market size • Expected growth • Competitive position • Cost of reaching the segment • Compatibility with objectives and resources • Choose the Segments

  17. STEPS IN SEGMENTING AND TARGETING MARKETS • Take Marketing Actions to Reach Target Markets

  18. POSITIONING THE PRODUCT • Two Approaches to Product Positioning • Head-to-head positioning • Differentiation positioning

  19. POSITIONING THE PRODUCT • Product Positioning Using Perceptual Maps • Evaluations of important attributes for a product class • Judgments of existing brands with the important attributes • Ratings of an ideal brand’s attributes

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