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Customer-Driven Marketing Strategy

LECTURE-11. Customer-Driven Marketing Strategy. Market Segmentation. Topic Outline. Market Segmentation. Market Segmentation.

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Customer-Driven Marketing Strategy

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  1. LECTURE-11 Customer-Driven Marketing Strategy

  2. Market Segmentation Topic Outline

  3. Market Segmentation

  4. Market Segmentation Market segmentation: Dividing a market into smaller segments with distinct needs, characteristics, or behavior that might require separate marketing strategies or mixes.

  5. Market Segmentation • Segmenting consumer markets • Segmenting business markets • Segmenting international markets • Requirements for effective segmentation

  6. Market Segmentation Segmenting Consumer Markets

  7. Market Segmentation Geographic segmentation divides the market into different geographical units such as nations, regions, states, counties, or cities Segmenting Consumer Markets

  8. Market Segmentation Demographic segmentation divides the market into groups based on variables such as age, gender, family size, family life cycle, income, occupation, education, religion, race, generation, and nationality Segmenting Consumer Markets

  9. Market Segmentation Age and life-cycle stage segmentation is the process of offering different products or using different marketing approaches for different age and life-cycle groups Gender segmentation divides the market based on gender (male or female)

  10. Market Segmentation Income segmentation divides the market into affluent, middle-income or low-income consumers Psychographic segmentation divides buyers into different groups based on social class, lifestyle, or personality traits Segmenting Consumer Markets

  11. Demographic Segmentation • Age and Life-Cycle Stage • Gender • Income • Generation • Social Class • Occupation

  12. Market Segmentation Behavioral segmentation divides buyers into groups based on their knowledge, attitudes, uses, or responses to a product Occasions Benefits sought User status Usage rate Loyalty status Segmenting Consumer Markets

  13. Market Segmentation Multiple segmentation is used to identify smaller, better-defined target groups . Using Multiple Segmentation Bases

  14. Market Segmentation Segmenting International markets

  15. Market Segmentation Intermarket segmentation divides consumers into groups with similar needs and buying behaviors even though they are located in different countries Segmenting International Markets

  16. Market Segmentation To be useful, market segments must be: Requirements for Effective Segmentation

  17. Bibliography • Principles of Marketing by Philip Kotler & Gary Armstrong • Fifteenth Edition, Published by Prentice Hall • Marketing Management – A South Asian Perspective • by Philip Kotler, Kevin Lane Keller, Abraham Koshy & • Mithileshwar Jha, 13th Edition, Published by Pearson • Education, Inc. •   Principles and Practices of Marketing by Jobber, D. 4th  • edition, McGraw Hill International. • Principles of Advertising & IMC by Tom Duncan 2nd • Edition, Published by McGraw-Hill Irwin.

  18. The End "Success doesn't come to you, you go to it." Marva Collins

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