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Semelhante a Chapter 8: Market Segments and Targets
Semelhante a Chapter 8: Market Segments and Targets (20)
Chapter 8: Market Segments and Targets
- 1. IDENTIFYING MARKET SEGMENTS and TARGETS Elaine R. Buday Ateneo Graduate School of Business 01 December 2009 Top 10 Concepts
- 5. Concept 1: Activities for Target Marketing
- 6. Concept 2: Mass Marketing mass distribution mass production mass promotion
- 7. Concept 3: Micromarketing at 1 of 4 levels segments niches local areas individuals
- 14. Concept 10: Additional Considerations
- 17. My Conclusion:
- 18. IDENTIFYING MARKET SEGMENTS and TARGETS Elaine R. Buday Ateneo Graduate School of Business 01 December 2009 Top 10 Concepts
Notas do Editor
- 1. What are the different levels of market segmentation? 2. How can a company divide a market into segments? 3. How should a company choose the most attractive target markets? 4. What are the requirements for effective segmentation?
- 1. Target marketing includes three activities: (a) market segmentation, (b) market targeting, and (c) market positioning. 2. The starting point for discussing segmentation is mass marketing – seller engages in the mass productions, mass distribution, and mass promotion of one product for all buyers. 3. We can target markets at four levels: (a) segments, (b) niches, (c) local areas, and (d) individuals. This is micromarketing at one of four levels 4. There are two bases for segmenting consumer markets: (a) consumer characteristics and (b) consumer responses. The major segmentation variables for consumer markets are (a) geographic, (b) demographic, (c) psychographic, and (d) behavioural. Marketers use them singly or in combination. The key is adjusting the marketing program to recognize customer differences. 5. Business marketers use all these variables (demographic and personal characteristics) along with operating variables, purchasing approaches, and situational factors as their bases for segmenting business markets
- 6. Roger Best proposed the seven step approach in the segmentation process, also known as the “needs-based market segmentation approach”: (a) Needs-Based Segmentation, (b) Segment Identification, (c) Segment Attractiveness, (d) Segment Profitability, (e) Segment Positioning, (f) Segment “Acid Test”, and (g) Marketing-Mix Strategy 7. To be useful, market segments must be (a) measurable, (b) substantial, (c) accessible, (d) differentiable, and (e) actionable. 8. A firm must evaluate the various segments and decide how many and which ones to target: (a) a single segment or single-segment concentration, (b) several segments or selective specialization, (c) a specific product or product specialization, (d) a specific market or market specialization, and (e) the full market or full market coverage. If it serves the full market, it must choose between differentiated and undifferentiated marketing. 9. Firms must also monitor segment relationships and seek economies of scope and the potential for marketing to super segments. Companies should be cautious about over segmenting their markets. If this happens, they may want to turn to counter segmentation to broaden the customer base 10. Marketers must develop segment-by-segment invasion plans and choose target markets in a socially responsible manner at all times (ethical choice of market targets)
- Target marketing includes three activities: (a) market segmentation, (b) market targeting, and (c) market positioning.
- The starting point for discussing segmentation is mass marketing – seller engages in the mass productions, mass distribution, and mass promotion of one product for all buyers.
- We can target markets at four levels: (a) segments, (b) niches, (c) local areas, and (d) individuals. This is micromarketing at one of four levels Market segments are large, identifiable groups within a market; Market segment consists of a group of customers who share a similar set of needs and wants. A niche is a more narrowly defined customer group seeking a distinctive mix of benefits. Globalization and the Internet have made niche marketing more feasible to many. Local marketing – target marketing is leading to marketing programs tailored to the needs and wants of local customer groups in trading areas, neighbourhoods, even individual stores. Marketers appeal to local markets through grassroots marketing for trading areas, neighbourhoods, and even individual stores. Individual Marketing – the ultimate level of segmentation leads to “segments to one”, “customized marketing”, or “one-to-one marketing”. Today customers are taking more individual initiative in determining what and how to buy.
- There are two bases for segmenting consumer markets: (a) consumer characteristics and (b) consumer responses. The major segmentation variables for consumer markets are (a) geographic, (b) demographic, (c) psychographic, and (d) behavioural. Marketers use them singly or in combination. The key is adjusting the marketing program to recognize customer differences.
- The major segmentation variables for consumer markets are (a) geographic, (b) demographic, (c) psychographic, and (d) behavioural. Marketers use them singly or in combination. The key is adjusting the marketing program to recognize customer differences. Business marketers use all these variables (demographic and personal characteristics) along with operating variables, purchasing approaches, and situational factors as their bases for segmenting business markets.
- 6. Roger Best proposed the seven step approach in the segmentation process, also known as the “needs-based market segmentation approach”: (a) Needs-Based Segmentation – Group customers into segments based on similar needs and benefits sought by customer in solving a particular consumption problem (b) Segment Identification – for each needs-based segment, determine which demographics, lifestyles, and usage behaviors make the segment distinct & identifiable (actionable) (c) Segment Attractiveness – using predetermined segment attractiveness (such as market growth, competitive intensity, and market access), determine the overall attractiveness of each segment. (d) Segment Profitability – determine segment profitability (e) Segment Positioning – for each segment, create a “value proposition” and product-price positioning strategy based on that segment’s unique customer needs and characteristics (f) Segment “Acid Test” – create “segment storyboard” to test the attractiveness of each segment’s positioning strategy (g) Marketing-Mix Strategy – expand segment positioning strategy to include all aspects of the marketing mix: product, price, promotion, and place
- To be useful, market segments must be (a) measurable, (b) substantial, (c) accessible, (d) differentiable, and (e) actionable
- A firm must evaluate the various segments and decide how many and which ones to target: (a) a single segment or single-segment concentration, (b) several segments or selective specialization, (c) a specific product or product specialization, (d) a specific market or market specialization, and (e) the full market or full market coverage. If it serves the full market, it must choose between differentiated and undifferentiated marketing.
- Firms must also monitor segment relationships and seek economies of scope and the potential for marketing to super segments. Companies should be cautious about over segmenting their markets. If this happens, they may want to turn to counter segmentation to broaden the customer base
- Marketers must develop segment-by-segment invasion plans and choose target markets in a socially responsible manner at all times (ethical choice of market targets)
- 1. Target marketing includes three activities: (a) market segmentation, (b) market targeting, and (c) market positioning. 2. The starting point for discussing segmentation is mass marketing – seller engages in the mass productions, mass distribution, and mass promotion of one product for all buyers. 3. We can target markets at four levels: (a) segments, (b) niches, (c) local areas, and (d) individuals. This is micromarketing at one of four levels 4. There are two bases for segmenting consumer markets: (a) consumer characteristics and (b) consumer responses. The major segmentation variables for consumer markets are (a) geographic, (b) demographic, (c) psychographic, and (d) behavioural. Marketers use them singly or in combination. The key is adjusting the marketing program to recognize customer differences. 5. Business marketers use all these variables (demographic and personal characteristics) along with operating variables, purchasing approaches, and situational factors as their bases for segmenting business markets
- 6. Roger Best proposed the seven step approach in the segmentation process, also known as the “needs-based market segmentation approach”: (a) Needs-Based Segmentation, (b) Segment Identification, (c) Segment Attractiveness, (d) Segment Profitability, (e) Segment Positioning, (f) Segment “Acid Test”, and (g) Marketing-Mix Strategy 7. To be useful, market segments must be (a) measurable, (b) substantial, (c) accessible, (d) differentiable, and (e) actionable. 8. A firm must evaluate the various segments and decide how many and which ones to target: (a) a single segment or single-segment concentration, (b) several segments or selective specialization, (c) a specific product or product specialization, (d) a specific market or market specialization, and (e) the full market or full market coverage. If it serves the full market, it must choose between differentiated and undifferentiated marketing. 9. Firms must also monitor segment relationships and seek economies of scope and the potential for marketing to super segments. Companies should be cautious about over segmenting their markets. If this happens, they may want to turn to counter segmentation to broaden the customer base 10. Marketers must develop segment-by-segment invasion plans and choose target markets in a socially responsible manner at all times (ethical choice of market targets)
- Target marketing includes three activities: (a) market segmentation, (b) market targeting, and (c) market positioning.