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IDENTIFYING MARKET SEGMENTS and TARGETS
Elaine R. BudayAteneo Graduate School of Business
01 December 2009
Top 10 Concepts
Outline: Markets have…
1. Activities for target marketing (what?)
2. Mass marketing (why?)
3. Micromarketing at 1 of 4 levels (how?)
4. Segments (bases?)
5. Segmentation variables (what)
Outline: Markets have…
6. Segmentation process (steps?)
7. Usefulness (how?)
8. Most attractive target markets (how to choose?)
9. Requirements for effective segmentation (what?)
10. Additional considerations (what?)
Concept 1:
Activities for Target Marketing
mass distribution
Concept 2:
Mass Marketing
mass production
mass promotion
Concept 3:
Micromarketing at 1 of 4 levels
segmentsniches
local areas
individuals
Concept 4:
Segments
There are 2 bases for segmenting consumer markets:
1. Consumer characteristics2. Consumer responses
Concept 5:
Segmentation variables
Major segmentation variables for consumer markets are:
1. Geographic2. Demographic3. Psychographic4. Behavioral
Concept 6:
Segmentation Process
Needs-Based Market Segmentation Approach:
1. Needs-Based Segmentation
2. Segment Identification
3. Segment Attractiveness
4. Segment Profitability
5. Segment Positioning
6. Segment “Acid Test”
7. Marketing – Mix Strategy
Concept 7:
Useful Market Segments
1. Measurable
2. Substantial
3. Accessible
4. Differentiable
5. Actionable
Concept 8:
Most attractive target markets
A firm must evaluate the various segments,
decide how many & which ones to target:
1. Single-segment concentration
2. Selective specialization
3. Product specialization
4. Market specialization
5. Full market coverage
Concept 9:
Requirements for Effective Segmentation
Monitor segment relationships
Companies should be cautious about over segmenting their markets
Counter segmentation to broaden customer base
Concept 10:
Additional Considerations
Summary:Markets have…
1. Activities for target marketing (what?)
2. Mass marketing (why?)
3. Micromarketing at 1 of 4 levels (how?)
4. Segments (bases?)
5. Segmentation variables (what)
Summary: Markets have…
6. Segmentation process (steps?)
7. Usefulness (how?)
8. Most attractive target markets (how to choose?)
9. Requirements for effective segmentation (what?)
10. Additional considerations (what?)
My Conclusion:
IDENTIFYING MARKET SEGMENTS and TARGETS
Elaine R. BudayAteneo Graduate School of Business
01 December 2009
Top 10 Concepts