Copyright © 2001 by Harcourt, Inc. All rights reserved. 8-1 CHAPTER EIGHT MARKET SEGMENTATION,...

CHAPTER EIGHT

MARKET SEGMENTATION, TARGETING, AND POSITIONING

Text by Profs. Gene Boone & David KurtzMultimedia Presentation byProf. Milton PressleyThe University of New Orleans

CHAPTER OBJECTIVESCHAPTER OBJECTIVES• Identify the essential components of a market• Outline the role of market segmentation in

developing a marketing strategy• Describe the criteria necessary for effective

segmentation• Explain each of the four basis for segmenting

consumer markets• Identify the steps in the market segmentation

process• Discuss four alternative strategies for reaching

target markets• Summarize the types of positioning strategies and

the purposes of positioning and repositioning products

TYPES OF MARKETSTYPES OF MARKETS

• Market: people or institutions with sufficient purchasing power, authority, and willingness to buy

• Target market: specific segment of consumers most likely to purchase a particular product

• Consumer products: goods or services purchased by an ultimate consumer for personal use

KC MasterpieceKC Masterpiece

Product Targeted at Product Targeted at Selected ConsumersSelected Consumers

• Business products: goods or services purchased for use either directly or indirectly in the production of other goods and services for resale

Cattlemen’sCattlemen’s

Product Targeted at the Product Targeted at the Business Market: Comes Business Market: Comes in 1 and 5 in 1 and 5 GallonGallon ContainersContainers

THE ROLE OF MARKET THE ROLE OF MARKET SEGMENTATIONSEGMENTATION• Market Segmentation: division of the

total market into smaller, relatively homogeneous groups

No Market SegmentationNo Market Segmentation

Segmented by SexSegmented by Sex

Segmented by AgeSegmented by Age

Figure 8.1: Figure 8.1: Targeting a Specific Targeting a Specific Marketing SegmentMarketing Segment

Criteria for Effective SegmentationCriteria for Effective Segmentation

Segment must present measurable purchasing

power and size

Marketers must be able to effectively promote to and

serve the segment

Segment must be sufficiently large enough for good profit potential

Segment must match the firm’s marketing

capabilities

Is segmentation for nonprofit marketers of more, less, or the same importance than for profit-oriented marketers? (Back your answer up with an example.)

Class Discussion

Medsite.com (MedBookStore.com’s New Identity) Has Medsite.com (MedBookStore.com’s New Identity) Has Effectively Segmented a Market as May Be Effectively Segmented a Market as May Be Determined by Exploring Its WWW Site.Determined by Exploring Its WWW Site.

SEGMENTING CONSUMER MARKETSSEGMENTING CONSUMER MARKETS

Geographic SegmentationGeographic Segmentation

• Geographic Segmentation: Dividing an overall market into homogeneous groups on the basis of their locations

PampersPampers

Using Geographic Using Geographic Segmentation Segmentation

Figure 8.2: Figure 8.2: Using Geographic Using Geographic SegmentationSegmentation

Metropolitan Statistical Area (MSA)

• Freestanding urban population area of at least 50,000 and a total MSA population of 100,000 or more

• Usually border on nonurbanized counties

• Examples: Rochester, NY; and Odessa-Midland, Texas

Metropolitan Statistical Area (MSA) Bakersfield, California Buffalo-Niagara Falls, New York Charlotte-Gastonia-Rock Hill, North Carolina Duluth, Minnesota-Superior, Wisconsin Honolulu, Hawaii Kalamazoo-Battle Creek, Michigan Salt Lake City-Ogden, Utah San Luis Obispo-Atascadero-Paso Robles, California Sarasota-Bradenton, Florida Wichita, Kansas

Table 8.1 Representative MSAsTable 8.1 Representative MSAs

Consolidated Metropolitan “Statistical Area (CMSA)

• A major population concentration which includes two or more Primary Metropolitan Statistical Areas

• Includes the country’s 25 or so urban giants such as Chicago, Illinois-Gary, Indiana-Kenosha, Wisconsin, and Detroit-Ann Arbor-Flint, Michigan

Table 8.1 Representative CMSAsTable 8.1 Representative CMSAs

Consolidated Metropolitan Statistical Area (CMSA) Boston-Worchester-Laurence Philadelphia-Wilmington-Atlantic City Los Angeles-Riverside-Orange County New York City-Northern New Jersey-Long Island San Francisco-Oakland-San Jose

Consolidated Metropolitan “Statistical Area (CMSA)

Primary MetropolitanStatistical Area (PMSA)

• An urbanized county or set of counties with social and economic ties to nearby areas

• PMSAs are identified within areas of over one million people

• Example: Bridgeport, Connecticut is part of the New York-Northern New Jersey-Long Island PMSA

Table 8.1 Representative PMSAsTable 8.1 Representative PMSAs

Primary Metropolitan Statistical Areas (PMSA) Fitchburg-Leominister, Massachusetts Ventura, California Middlesex-Somerset-Hunterdon, New Jersey Vineland-Millville-Bridgeton, New Jersey Santa Rosa, California

Using Geographic Using Geographic SegmentationSegmentation• Demand for some goods and services can vary

according to the geographic region• Most major brands get 4280 percent of their sales

from what are called core regions• Climate is another important segmentation factor

• Northern consumers, for example, eat more soup than Southerners

• Southerners use more chlorine for their swimming pools than Northern residents

Figure 8.3: Segmentation by Residence Location

Geographic Information Geographic Information Service (GIS)Service (GIS)• Geographic Information Service (GIS):

computer technology that records several layers of data on a single map

• Simplifies the job of analyzing marketing information by placing data in a spatial format . . . the result of which is a geographic map overlaid with digital data about consumers in a particular area

Where would major wool and nylon Where would major wool and nylon manufacturers send their manufacturers send their carpetcarpet “fabric” salespeople?“fabric” salespeople?

Class Discussion

Demographic SegmentationDemographic Segmentation

• Demographic segmentation: Demographic segmentation: dividing consumer dividing consumer groups according to characteristics such as sex, groups according to characteristics such as sex, age, income, occupation, education, household age, income, occupation, education, household size, and stage in the family life cyclesize, and stage in the family life cycle

• A primary source for demographic data and A primary source for demographic data and United States is the Bureau of CensusUnited States is the Bureau of Census

One of the Primary Sources for Demographic One of the Primary Sources for Demographic Data in the U.S. Is the Bureau of the CensusData in the U.S. Is the Bureau of the Census

One of the Most Frequently Referred to Census One of the Most Frequently Referred to Census Resources: The Statistical Abstract of the United StatesResources: The Statistical Abstract of the United States

• Segmenting by Segmenting by gendergender

• Marketers must ensure that traditional assumptions are not false• Example: consumer

electronics are not a male-dominated purchase

• To some companies market successfully to both genders

• Other firms start by targeting one gender and then switch to both

Figure 8.4: Segmenting by Gender

LunaLuna

Defining a market by Defining a market by

Gender: Gender: A Nutrition Bar A Nutrition Bar Aimed at WomenAimed at Women

• Segmenting by Segmenting by age age

• Many firms identify market segments on the basis of age

• Products are often designed to meet the specific needs of certain age groups• Examples: baby

food and denture cream

Dole PineappleDole Pineapple

Developing a Product Developing a Product Specifically for Children: Specifically for Children: Segmenting by Age Segmenting by Age

• Segmenting by Segmenting by ageage

• Sociologists attribute different consumer needs and wants among various age groups to the cohert effect

• Cohert effect is a tendency among members of a generation to be influenced and drawn together by significant events occurring during their key formative years, roughly 17 to 22 years of age

Generation Y• Almost 60 million people

born between 1979 and 1994

• Also called echo boomers (to account for the fact that they are often the children of baby boomers)

• More racially diverse• Overwhelming majority

have mothers who work outside the home

• Highly computer-literate• Practical and cynical

Figure 8.5: Figure 8.5: Marketing to Marketing to Generation YGeneration Y

AT&T’s WebSite Aimed Specifically at AT&T’s WebSite Aimed Specifically at Generation Y Members in CollegeGeneration Y Members in College

Delias’s Delias.com Website: Aimed at Delias’s Delias.com Website: Aimed at Generation Y Members Online Generation Y Members Online

Generation Y

Generation X

• About 57 million people born between 1965 to the late 1970s

• Were the first large group to experience day-care and the effects of widespread parental divorce

• Have more egalitarian views of gender roles than the general population

• React strongly to peer influences

• Delay marriage and careers, accept cultural diversity, and value the quality of personal life over work life

Generation Y

Generation X

Baby BoomersBaby Boomers

• About 113 million people born between 1946 and 1965

• Values of this group were influenced both by the counterculture movement of the Vietnam war era and the materialistic, career-oriented drive of the 1970s and 1980s

• An affluent market• Their behavior is often

difficult to predict• Different subgroups within this

generation must be recognized and targeted

Generation Y

Generation X

Baby Boomers

• By 2025, Americans over 65 will comprise 18.5% of the population

• Most major industrialized nations are seeing similar trends

• Seniors are a powerful economic force

• In the U.S., heads of households over 55 control about ¾ of the country’s total financial assets

• Their discretionary incomes and rate of home ownership are the highest of all age groupsSeniorsSeniors

Figure 8.6: Targeting Older Consumers

One of a Number of WebSites aimed at One of a Number of WebSites aimed at Senior CitizensSenior Citizens

• Segmenting by Segmenting by ethnic groupethnic group

• America’s racial and ethnic makeup is changing

• By 2050, nearly half of the population will belong to nonwhite minority groups

• The largest and fastest-growing racial/ethnic groups are African-Americans, Hispanics, and Asian Americans

• Spending by these groups is rising faster than for the general population

• Marketers must be careful not to over-generalize ethnic groups

TargetTarget

Ad Aimed at Customers Ad Aimed at Customers Who Prefer to Speak Who Prefer to Speak and Read Spanish: and Read Spanish: Segmenting by Segmenting by Racial/Ethnic GroupRacial/Ethnic Group

• Segmenting by Segmenting by family life-cyclefamily life-cycle

• Family life cycle: process of family formation and dissolution, which affect market segmentation because life stage, not age, is a primary determinant of many consumer purchases

• Example: an unmarried person setting up an apartment for the first time is likely to be a good prospect for inexpensive furniture and small home appliances. This consumer must rule out luxury items. However, the same person still living at home would have more money to spend on sporting and entertainment equipment, personal care items, and clothing

La-Z-BoyLa-Z-Boy

Targeting Families Targeting Families with Small Childrenwith Small Children

• Segmenting by Segmenting by household typehousehold type

• The “traditional family” has declined for the past 20 years

• Single-parent families, single-person households, and nonfamily group households have more than doubled during the same time

• Non-traditional households make likely buyers of single-serving and convenience foods

• DINKs, dual-income childless couples, are big buyers of gourmet foods, luxury items, and travel

Figure 8.7: Targeting Smaller Households

• Segmenting by Segmenting by income and income and expenditure expenditure patternspatterns

• Mass-marketers aim their appeals at middle-income groups

• Marketers often target geographic areas known for the high incomes of the residents

• Metropolitan markets that rise dramatically in the Effective Buying Income ranks often make promising targets for income-related segmentation

JaguarJaguar

Targeting High-Income Targeting High-Income GroupsGroups

• Engel’s laws: three general statements based on his studies on the impact of household income changes on consumer spending behavior

• According to Engle, as family income increases:• A smaller percentage of expenditures go for food• The percentage spent on housing and household

operations and clothing remains constant• The percentage spent on other items (such as

recreation and education) increases

Figure 8.8: Segmenting by Income and Expenditure Patterns

Demographic Segmentation Demographic Segmentation AbroadAbroad• Obtaining the data necessary for global demographic

segmentation is often difficult• Many countries do not operate regularly scheduled

census programs• For example, the most recent census of Holland is

now over 20 years old, and Germany skipped its census from 1970 to 1987

• Daily life cycle data is difficult to apply in global demographic segmentation efforts

A Useful Source of Global Demographic Information Is the A Useful Source of Global Demographic Information Is the Foreign Trade Statistics Web Page of the U.S. Census BureauForeign Trade Statistics Web Page of the U.S. Census Bureau

Give three examples of how Give three examples of how OCCUPATION could effect OCCUPATION could effect buying behavior?buying behavior?

Class Discussion

Psychographic SegmentationPsychographic Segmentation• Psychographic Segmentation: dividing a

population into groups that have similar psychological characteristics, values, and lifestyles.

• Lifestyle: people’s decisions about how to live their daily lives, including family, job, social, and consumer activities

• AIO Statements: statements in a psychographic survey, choices reflect a respondent’s activities, interests, and opinions

Psychographic SegmentationPsychographic Segmentation• VALS 2: commercially available

system for psychographic segmentation of consumers

Abundant ResourcesAbundant Resources

Minimal ResourcesMinimal Resources

Principle OrientedPrinciple Oriented Status OrientedStatus Oriented Action OrientedAction Oriented

VALS 2 VALS 2 - - LIFESTYLE SEGMENTATIONLIFESTYLE SEGMENTATION

Principle OrientedPrinciple Oriented Status OrientedStatus Oriented

FULFILLEDFULFILLED11%11%

BELIEVERSBELIEVERS16%16%

Action OrientedAction Oriented

Shedd AquariumShedd AquariumService Appealing to Service Appealing to Creatives and FulfilledsCreatives and Fulfilleds

ACTUALIZERSACTUALIZERS8%8%

ACHIEVERSACHIEVERS13%13%

STRIVERSSTRIVERS13%13%

STRUGGLERSSTRUGGLERS12%12%

ACTUALIZERSACTUALIZERS8%8%

ACHIEVERSACHIEVERS13%13%

STRIVERSSTRIVERS13%13%

STRUGGLERSSTRUGGLERS12%12%

EXPERIENCERSEXPERIENCERS12%12%

MAKERSMAKERS13%13%

Figure 8.9: Figure 8.9: VALS NetworkVALS Network

Updates and Articles About VALS 2 can be found Updates and Articles About VALS 2 can be found on the WebSite of its developer: SRI Internationalon the WebSite of its developer: SRI International

Psychographic SegmentationPsychographic Segmentation

• Psychographic Segmentation of Global Markets like those done by Roper Starch can paint useful pictures of the residents of various countries.

• Roper found six psychographic consumer segments that are common to 35 nations

Psychographic SegmentationPsychographic Segmentation

• Psychographic Segmentation of Global Markets like those done by Roper Starch can paint useful pictures of the residents of various countries.

• Roper found six psychographic consumer segments that are common to 35 nations as outlined on the following slides

StriversStrivers

Devouts

Altruists

Intimates

Fun Seekers

Creatives

Psychographic SegmentationPsychographic SegmentationRoper’s Six

Common Segments • The largest segment

• Value professional and material goals more than other groups

• Account for 1/3 of the Asian population and ¼ of the Russian population

• Slightly more likely to be men than women

Strivers

DevoutsDevouts

Altruists

Intimates

Fun Seekers

Creatives

Common Segments

• Value duty and tradition• Comprise about 22% of

all adults• Most common in Africa,

the Middle East and developing nations of Asia

• Least common in Western Europe and the developed nations of Asia

• More likely to be female

Strivers

Devouts

AltruistsAltruists

Intimates

Fun Seekers

Creatives

Common Segments • Emphasize social

issues and societal well-being

• About 18% of all adults are Altruists

• Median age of 44• Slightly higher

percentage of women• Most common in Latin

America and Russia

Strivers

Devouts

Altruists

IntimatesIntimates

Fun Seekers

Creatives

Common Segments

• Value family and personal relationships

• Almost always divided between males and females

• One-fourth of people in the U.S. and Europe are intimates

• Only 7% of the Asians are Intimates

Strivers

Devouts

Altruists

Intimates

Fun SeekersFun Seekers

Creatives

Common Segments • Focus on personal

enjoyment and pleasurable experiences

• Twelve percent of the world’s population

• Male to female ratio 54:46

• Many live in the developed nations of Asia

Strivers

Devouts

Altruists

Intimates

Fun Seekers

CreativesCreatives

Common Segments

• Smallest segment – only 10% of the population

• Seek education, technology, and knowledge

• Approximately equal percentage of males and females

• Many live in W. Europe and Latin America

Roper Starch Worldwide Consulting, Finder of the Six Roper Starch Worldwide Consulting, Finder of the Six Common Psychographic Segments, Provides a Number of Common Psychographic Segments, Provides a Number of Useful Services and ReportsUseful Services and Reports

Using Psychographic Using Psychographic SegmentationSegmentation• Psychographic profiles produce rich

descriptions of potential target markets• The greater detail aids in matching a

company’s image and its offerings with the types of consumers who are likely purchasers

Figure 8.10: Figure 8.10: Using Psychographic Using Psychographic Segmentation Segmentation

• Product-related segmentation: dividing a consumer population into homogeneous groups based on characteristics of their relationships to the product

• Can take the form of segmenting based on:• Benefits that people seek when they buy• Usage rates for a product• Consumers’ brand loyalty toward a product

ProductProduct BenefitsBenefits Usage RatesUsage Rates Brand LoyaltyBrand Loyalty

Product-Related SegmentationProduct-Related Segmentation

• Focuses on the attributes that people seek in a good or service and the benefits that they expect to receive from that good or service

• Groups consumers into segments based on what they want a product to do for them

BenefitsBenefits Usage RatesUsage Rates Brand LoyaltyBrand LoyaltyProductProduct

Figure 8.11: Figure 8.11: Segmenting by Segmenting by Benefits SoughtBenefits Sought

EclipseEclipse

Segmenting by Segmenting by Benefits Sought Benefits Sought

In Contrast to AT&T’s Ads That Features Reliability In Contrast to AT&T’s Ads That Features Reliability and High Quality, Sprint Tends to Stress Price and and High Quality, Sprint Tends to Stress Price and Value in Its Promotional MaterialValue in Its Promotional Material

• Segmenting by grouping people according to the amounts of a product that they buy and use

• Markets often divided into heavy-user, moderate-user, and light-user segments

• The 80/20 principle (“Praedo’s Law”) holds that a big percentage of a product’s revenues (roughly 80%) comes from a relative small, loyal percentage (around 20%) of total customers

• Segmenting consumers grouped according to the strength of brand loyalty felt toward a product

• A practical example of this would be the frequent flyer programs of airlines and many hotels

• As Figure 8.12 in the next slide shows, marketers follow a five-step decision process to decide which segmentation base to use

Identify Identify Segmentation Segmentation

ProcessProcess

Develop Develop Relevant Relevant

ProfileProfile

Forecast Forecast MarketMarket

PotentialPotential

Forecast Forecast Market Market ShareShare

Select Select Specific Specific SegmentSegment

THE MARKET SEGMENTATION THE MARKET SEGMENTATION

PROCESSPROCESS

Figure 8.12: Figure 8.12: Market Market Segmentation Segmentation Decision Decision ProcessProcess

• Marketers follow two methods to determine the bases on which to identify markets:• Segments are predefined by managers based

on their observation of the behavioral and demographic characteristics of likely users

• Segments are defined by asking customers which attributes are important and then clustering the responses

ProcessProcess

ProfileProfile

PotentialPotential

PROCESSPROCESS

• Next, marketers seek further understanding of the consumer in each promising segment

• Must develop a profile of the typical consumer and each segment

• Helps to accurately match consumer needs with the firm’s marketing offers

Develop Develop Relevant Relevant ProfileProfile

PotentialPotential

ProcessProcess

PROCESSPROCESS

• Market segmentation and market opportunity analysis combine to produce a forecast of market potential within each segment

• Defines a preliminary “go or no-go” decision since the sales potential in each segment must justify resources devoted to further analysis

ProcessProcess

ProfileProfile

PotentialPotential

PROCESSPROCESS

• The next step is to forecast the firm’s probable market share

• Competitors’ positions in targeted segments must be analyzed

• A specific marketing strategy must be designed to serve the targeted segments

• The firm determines the expected level of resources it must commit to tap the potential demand in each segment

ProcessProcess

ProfileProfile

PotentialPotential

PROCESSPROCESS

• The preceding information, analysis, and forecasts allow management to assess the potential for achieving company goals and to justify committing resources in developing one or more segments

• At this stage, for example, the return on investment (ROI) that the company can expect from each segment can be determined

• Marketers also weigh more than monetary costs and benefits at this stage

ProcessProcess

ProfileProfile

PotentialPotential

PROCESSPROCESS

• Target market decision analysis: procedure for evaluating the relevant characteristics and the prospects for satisfying business objectives of potential market segments

• Target market decision analysis is a useful tool at this stage of the decision-making process

ProcessProcess

ProfileProfile

PotentialPotential

PROCESSPROCESS

STRATEGIES FOR REACHING STRATEGIES FOR REACHING TARGET MARKETSTARGET MARKETS• Undifferentiated marketing: when a firm

produces only one product or product line and promotes it to all customers with a single marketing mix

• Sometimes called mass marketing• Much more common in the past

STRATEGIES FOR REACHING STRATEGIES FOR REACHING TARGET MARKETSTARGET MARKETS• Differentiated marketing: when a firm

produces numerous products and promotes them with a different marketing mix designed to satisfy smaller segments

• Tends to raise costs• Firms may be forced to practice

differentiated marketing toremain competitive

Differentiated Differentiated MarketingMarketing

Procter and Gamble Procter and Gamble Practicing Differentiated Practicing Differentiated Marketing Marketing

Figure 8.13: Figure 8.13: Using a Using a Differentiated Differentiated Marketing StrategyMarketing Strategy

Recommended Site

Delta Air Lines Conducts Differentiated Marketing to Attract Delta Air Lines Conducts Differentiated Marketing to Attract Segments As Diverse As Senior Citizens on a Budget and Very Segments As Diverse As Senior Citizens on a Budget and Very Frequent Travelers Who Prefer Business Class ServiceFrequent Travelers Who Prefer Business Class Service

STRATEGIES FOR REACHING STRATEGIES FOR REACHING TARGET MARKETSTARGET MARKETS

• Concentrated marketing (niche marketing): when a firm commits all of its marketing resources to serve a single market segment

• Attractive to small firms with limited resources and to firms offering highly specialized goods and services

Caithness Glass, a Small Producer of Crystal Caithness Glass, a Small Producer of Crystal Glass is an Example of a Niche MarketerGlass is an Example of a Niche Marketer

STRATEGIES FOR REACHING STRATEGIES FOR REACHING TARGET MARKETSTARGET MARKETS• Micromarketing: involves targeting

potential customers at a very basic level, such as by ZIP code, specific occupation, lifestyle, or individual household

• The Internet may allow marketers to make micromarketing even more effective

Genesolutions Inc. Gives Researchers Online Access Genesolutions Inc. Gives Researchers Online Access to Proprietary Gene Sequences and Related Data to Proprietary Gene Sequences and Related Data From More Than 12 Million DNA SamplesFrom More Than 12 Million DNA Samples

Figure 8.14: Figure 8.14: Targeting a Specific Targeting a Specific OccupationOccupation

STRATEGIES FOR REACHING STRATEGIES FOR REACHING TARGET MARKETS: TARGET MARKETS: Selecting and Selecting and Executing a StrategyExecuting a Strategy

• No single, best choice strategy suits all firms• Determinants of a market-specific strategy:

• Company resources• Product homogeneity• Stage in the product life-cycle• Competitors’ strategy

Georgia-Pacific Georgia-Pacific PapersPapers

Georgia-Pacific Georgia-Pacific Executes Its Strategy In Executes Its Strategy In This Advertisement This Advertisement

STRATEGIES FOR REACHING STRATEGIES FOR REACHING TARGET MARKETS: TARGET MARKETS: Selecting and Selecting and Executing a StrategyExecuting a Strategy

• Positioning: a marketing strategy that emphasizes serving a specific market segment by achieving a certain position in buyers’ minds

• Positioning map: graphic illustration that shows differences in consumers’ perceptions of competing products

• Reposition: marketing strategy to change the position of its product in consumers’ minds relative to the positions of competing products

Figure 8.15: Figure 8.15: Hypothetical Hypothetical Competitive Competitive Positioning Map for Positioning Map for Selected RetailersSelected Retailers

Expensive

Inexpensive

ConservativeSporty

Where Would You Position These Toyota Where Would You Position These Toyota Automobiles on This Positioning Map?Automobiles on This Positioning Map?

CelicaCelicaCelicaCelica CamryCamry CamryCamryCorollaCorollaCorollaCorolla AvalonAvalonAvalonAvalon

Class Discussion

Expensive

Inexpensive

ConservativeSporty

CelicaCelicaCelicaCelica CamryCamry CamryCamryAvalonAvalonAvalonAvalon

Class Discussion

CorollaCorollaCorollaCorolla

Expensive

Inexpensive

ConservativeSporty

CamryCamry CamryCamryAvalonAvalonAvalonAvalon

Class Discussion

CelicaCelicaCelicaCelica

Expensive

Inexpensive

ConservativeSporty

CamryCamry CamryCamry

Class Discussion

AvalonAvalonAvalonAvalon

Expensive

Inexpensive

ConservativeSporty

Class Discussion

CamryCamry CamryCamry

AvalonAvalonAvalonAvalon

MARKET SEGMENTATION: MARKET SEGMENTATION: STRATEGIC IMPLICATIONSSTRATEGIC IMPLICATIONS

• Creative use of market segmentation can help a firm to view hurdles as opportunities

• As the Internet becomes more available to consumers worldwide, new market segments/opportunities will present themselves

Copyright © 2001 by Harcourt, Inc. All rights reserved. 8-1 CHAPTER EIGHT MARKET SEGMENTATION,...

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