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Market Segmentation

Learn how to segment markets effectively for improved communication strategies, covering demographics, psychographics, and global segments to meet marketing and communication objectives. Utilize the SOSTAC planning system for successful implementation.

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Market Segmentation

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  1. Market Segmentation Trevor Twyman 2002 CIM Advanced Virrat

  2. Communications Plan Trevor Twyman 2002 CIM Advanced Virrat SOSTAC Planning system:- S - Situation Analysis ( where are we now ? ) O- Objectives (where do we want to go ? ) S - Strategy ( how do we get there ? ) T -Tactics ( the details of strategy ) A -Action ( implementation - putting the plans to work ) C - Control ( measurement, monitoring, reviewing and modifying )

  3. The 3Ms Trevor Twyman 2002 CIM Advanced Virrat The three key resources, the 3Ms cover:- Men ( human resources ) Money ( budgets ) Minutes ( time )

  4. Situation Analysis Trevor Twyman 2002 CIM Advanced Virrat Is comprehensively covered by the:- Strengths, Weakness, Opportunities, Threats. ( SWOT ) Political, Economic, Social, Technological. ( PEST )

  5. Segmentation Trevor Twyman 2002 CIM Advanced Virrat Segment Criteria :- Measurable:-Quantifiable. Substantial:- Sufficient numbers. Accessible:- Can they be contacted. Relevant:- Product must be relevant to target group.

  6. Decision-making Units Trevor Twyman 2002 CIM Advanced Virrat The DMU is made up of:- influencers, advisers,users, deciders,buyers, players. This can be covered by the Acronym:- “SPADE” Starter, Payer, Adviser, Decider, End User.

  7. Global Segments Trevor Twyman 2002 CIM Advanced Virrat Segments do not have to be localised or on a geographic basis.They can be done under:- “VALS” Values Attitudes Lifestyles

  8. Consumer Segments Trevor Twyman 2002 CIM Advanced Virrat Demographics:- Age, sex, occupation, Geodemographics Census Data, Mapping. Psychographics:- Life style, Metal attitudes.

  9. Industrial Segments Trevor Twyman 2002 CIM Advanced Virrat Type and size of company. Structure of Company. Location /geographic area. Heavy or light users. Existing suppliers. Benefits sought. Key decision makers

  10. Marketing Objectives Trevor Twyman 2002 CIM Advanced Virrat Typical Marketing objectives refer to:- Increased sales. Distribution. Penetration. Launching a product.

  11. Communications Objectives Trevor Twyman 2002 CIM Advanced Virrat These typically refer to how the communications should affect the mind of the target:- “audience”

  12. Strategy Trevor Twyman 2002 CIM Advanced Virrat Strategy summarisers:- How the objectives will be achieved “How do we get there” Whether to go above the line or below or a combination of both.

  13. Tactics Trevor Twyman 2002 CIM Advanced Virrat The details of the strategy:- The plan lists what and where and for how much:- Advertising, PR, direct mail, Sponsorship, Packaging, Internet, Sales promotion.

  14. Reading Scheme Trevor Twyman 2002 CIM Advanced Virrat This lecture focuses on the chapter listed below. Marketing Communications 2nd Edition, Smith, P.R., Chapter 2, pages 31 - 67. The Marketing Customer Interface CIM Workbook

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