1 / 13

8 Identifying Market Segments and Targets

1. 8 Identifying Market Segments and Targets. What is a Market Segment?. A market segment consists of a group of customers who share a similar set of needs and wants. The marketer’s does not create the segments. The marketer’s task is to identify segments and decide which one(s) to target.

xander
Download Presentation

8 Identifying Market Segments and Targets

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. 1 8Identifying Market Segments and Targets

  2. What is a Market Segment? • A market segment consists of a group of customers who share a similar set of needs and wants. • The marketer’s does not create the segments. • The marketer’s task is to identify segments and decide which one(s) to target.

  3. Segmenting Consumer Markets Geographic Demographic Psychographic Behavioral

  4. Geographic Segmentation

  5. Geographic Segmentation • Nation • State • Region • Countries • Cities • Neighborhoods

  6. Demographic Segmentation • Age and life cycle • Life stage • Gender • Income • Generation • Social class • Race and Culture

  7. Psychographic Segmentation • Personality traits • Life style • Value

  8. Behavioral Segmentation: Behavioral Variables • Occasions • Benefits • User Status • Usage Rate • Buyer-Readiness • Loyalty Status

  9. Loyalty Status • Hard-core • Split loyals • Shifting loyals • Switchers

  10. Effective Segmentation Criteria • Measurable • Substantial • Accessible • Differentiable • Actionable

  11. Patterns of Target Market Selection

  12. Patterns of Target Market Selection

  13. Patterns of Target Market Selection

More Related