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Identifying Market Segments and Selecting Target Markets

The Learning Objectives. Levels and Patterns of Marketing SegmentationMarketing TargetPositioning Strategy. Market Segmentation. Dividing a market into distinct groups of buyers on the basis of needs,characteristics,or behavior who might require separate products or marketing mixes.. Segment Marke

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Identifying Market Segments and Selecting Target Markets

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    1. Chapter 4 Identifying Market Segments and Selecting Target Markets

    2. The Learning Objectives Levels and Patterns of Marketing Segmentation Marketing Target Positioning Strategy

    3. Market Segmentation Dividing a market into distinct groups of buyers on the basis of needs,characteristics,or behavior who might require separate products or marketing mixes.

    4. Segment Market A group of consumers who respond in a similar way to a given set of marketing effort.

    5. Market targeting The process of evaluating each market segment’s attractiveness and selecting one or more segment to enter.

    6. Marketing positioning Arranging for a product to occupy a clear,distinctive, and desirable place relative to competing products in the minds of target consumers.

    7. Levels of market segmentation Mass marketing Segment marketing Niche marketing

    8. micromarketing Local marketing Individual Marketing

    9. Discussion 1. How do you think the relationship between local marketing and international marketing? 2. How to interpret One –one marketing? (eg. Del: smart marketing)

    10. Steps in Market Segmentation, Targeting,and Positioning

    11. Basic Market-Preference Patterns

    12. Market-Segmentation Procedure Survey Motivations Attitudes Behavior Analysis Factors Clusters Profiling

    13. Segmenting consumer markets(p252) Geographic Segmentation Demographic Psychographic Behavioral

    14. Bases for Segmenting Consumer Markets

    15. Discussion How to choose the segmenting variables? Consider the following products,please list the segmenting standard for each product and explain the reasons for them. 1.computer; 2.shampoo; 3. Life insurance; 4.book

    16. Bases for Segmenting Business Markets Demographic Operating Variables Purchasing Approaches Situational Factors Personal Characteristics

    17. Effective Segmentation

    18. Heavy and Light Users of Common Consumer Products

    19. Additional Segmentation Criteria Ethical Choice of Market Targets Segment Interrelationships & Supersegments Segment-by-Segment Invasion Plans Intersegment Cooperation

    20. Five Patterns of Target Market Selection

    21. 2.Market Targeting Target market Undifferentiated marketing Differentiated marketing Concentrated Marketing

    22. Undifferentiated Marketing A market-coverage strategy in which a firm decides to ignore market segment differences and go after the whole market with one offer.

    23. Differentiated marketing A market-coverage strategy in which a firm decides to target several market segments and designs separate offers for each.

    24. Concentrated marketing A market-coverage strategy in which a firm goes after a large share of one or a few submarkets.

    25. Discussion How to choose the Target market?

    26. 3.Positioning Product position Competitive advantage Value propositioning

    27. Product Position The way the product is defined by consumers on important attributes----the place the product occupies in consumers’ minds relative to competing product.

    28. The BCG Competitive Advantage Matrix

    29. Product Differentiation

    30. Services Differentiation

    31. Differentiation Personnel Channel

    32. Image Differentiation

    35. Perceptual Map

    36. Sales & Profit Life Cycles

    37. Four Introductory Marketing Strategies

    38. Case study ?????? Background

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