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Chapter 3

Chapter 3. Marketing Segmentation. What is Marketing Segmentation?. Who uses market segmentation? How does market segmentation operate?. Market Segmentation.

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Chapter 3

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  1. Chapter 3 Marketing Segmentation

  2. What is Marketing Segmentation? • Who uses market segmentation? • How does market segmentation operate?

  3. Market Segmentation The process of dividing a potential market into distinct subsets of consumers and selecting one or more segments as a target market to be reached with a distinct marketing mix.

  4. Mass Marketing Offering the same product and marketing mix to all consumers.

  5. Positioning Establishing a specific image for a brand in relation to competing brands.

  6. Bases for Segmentation • Geographic Segmentation • Demographic Segmentation • Psychological Segmentation • Psychographic Segmentation • Sociocultural Segmentation • Use-Related Segmentation • Usage-Situation Segmentation • Benefit Segmentation • Hybrid Segmentation Approaches

  7. AIOs Psychographic variables that focus on activities, interests, and opinions. Also referred to as Lifestyle.

  8. Hybrid Segmentation Approaches • Psychographic-Demographic Profiles • Geodemographic Segmentation • SRI Consulting’s Values and Lifestyle System (VALSTM)

  9. Criteria For Effective Targeting of Market Segments • Identification • Sufficiency • Stability • Accessibility

  10. Implementing Segmentation Strategies • Concentrated Versus Differentiated Marketing • Countersegmentation

  11. Counterseg-mentation Strategy A strategy in which a company combines two or more segments into a single segment to be targeted with an individually tailored product or promotion campaign.

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