target market and market segmentation n.
Download
Skip this Video
Loading SlideShow in 5 Seconds..
TARGET MARKET AND MARKET SEGMENTATION PowerPoint Presentation
Download Presentation
TARGET MARKET AND MARKET SEGMENTATION

Loading in 2 Seconds...

play fullscreen
1 / 12

TARGET MARKET AND MARKET SEGMENTATION - PowerPoint PPT Presentation


  • 101 Views
  • Uploaded on

TARGET MARKET AND MARKET SEGMENTATION. Marketing Foundations – Target D. TARGET MARKET . The group of customers whose needs and wants you will try to satisfy Examples….teens, babies, business people, college students. Target Market should have:.

loader
I am the owner, or an agent authorized to act on behalf of the owner, of the copyrighted work described.
capcha
Download Presentation

PowerPoint Slideshow about 'TARGET MARKET AND MARKET SEGMENTATION' - lovey


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.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.


- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -
Presentation Transcript
target market and market segmentation

TARGET MARKET ANDMARKET SEGMENTATION

Marketing Foundations – Target D

target market
TARGET MARKET
  • The group of customers whose needs and wants you will try to satisfy
    • Examples….teens, babies, business people, college students
target market should have
Target Market should have:
  • Clearly defined wants and needs that your company can meet
  • Money to buy your product
  • Willingness and authority to buy your product
  • Enough customers n the market to be profitable
slide4

Target Market

+ Marketing Mix

Marketing Strategy

*Remember, the Marketing Mix is all the decisions you make about the 4 P’s.

mass marketing
Mass Marketing
  • The development of only one marketing mix for a specific product
  • Assumes that everyone has exactly the same wants and needs for the product
target marketing approach
Target marketing approach
  • Has marketers analyze the mass market
  • Then, segment (divide up) the market based on the different needs and wants of the customers in that market
  • The company will choose one segment to develop a marketing mix (the 4 P’s) that will meet the unique wants and needs of that market segment
market segmentation
Market Segmentation
  • Marketers segment (divide up) possible markets by:
    • Demographics
    • Geographics
    • Psychographics
    • Product benefits
demographic segmentation
Demographic Segmentation
  • Statistics that describe the characteristics of a population of people
    • Age
    • Gender
    • Ethnicity
    • Family size
    • Income
      • Disposable – money left after taxes
      • Discretionary – money left after taxes and necessities taken out (what you have left to spend)
psychographic segmentation
Psychographic Segmentation
  • based on psychological characteristics that affect needs and wants
    • Hobbies
    • Social activities
    • Lifestyle
    • Interests
    • Attitudes

If you show the target market in ads, people see themselves and relate better to the promotional message

geographic segmentation
Geographic Segmentation
  • Based on where customers live
    • Location
    • Climate
    • City size
product benefits
Product Benefits
  • based on the perceived value or advantage consumers receive from a good or service over alternatives.
    • Quality
    • Performance
    • Image
    • Service
    • Special features
combining variables
Combining Variables
  • Marketers find it useful to target a market based on two or more segments
    • Geographic + demographic

(city + income)

Example: marketers of luxury products can get zip codes of people with the highest income levels.