Marketing Management C-2

2.7 Identifying Market Segments & Selecting

Target Market OR An Overview of Market Segments & Target Markets.

Market Segmentation. OR Levels of Market Segmentation.

Ultimate Consumers Business users-the 1st cut. OR segmenting of consumers & Business Markets.

Target Marketing Strategies. OR Market Targeting.

Cont

Marketing Management C-2

Market Segmentation. OR Levels of Market Segmentation. 1) Benefits. 2) levels. 3) Segment Mktg. 4) Niche Mktg. Segmenting C.Ms 1) Geographics 2) Demographics
( Age & life cycle stage. Life stage, Gender, Income, Generation, Social Class )

Ultimate Consumers Business users-the 1st cut. OR segmenting of consumers & Business Markets. Segmenting B.Ms 1) Customer location. 2) customer Type
( Industry, size, organization Structure, purchase Criteria )

Target Marketing Strategies. OR Market Targeting. 1) Aggregation strategy 2) Single Segment strategy. 3) Multiple Segment Strategy. 4) Product Specialization. 5) Market specialization.

( Regional population distribution.)

cont.

5) Local

3) Psychographics

3) Transaction

5) Market Specialization.

Mktg

( Life Style, Personality

values.)

conditions.
( Buying Situation, U sage Rate, purchase Procedure)

6) Individual Mktg.

4) Behaviorals ( Occasions, Benefits sought, user status,

3.1) Purchase

6) Full Market Coverage

Decision process * 1st time prospects.

usage rate, Loyalty- status, buyer-Readiness stage, Attitude.)

* Novices.
* Sophisticates

cont

7) Mass Mktg. 8) Micro Mktg. N Patterns

5) Multiattributes ( Geoclustering ) 6) Targeting multiple's. --x-x-x--

4) Bueiner segments.

n Additional considerations.

1) Zthical choice of mkt Targets.

1) Programmed buyers. 2) Relationship 2) Segment by segment Invasion

of Mkt segmentation.
1) Homogeneous Preference. 2 Diffused Preference. 3) Clustered Preference.

buyers.
3) Transaction Buyers. 4) Bargain hunter.

Plans.
3) Inter segment co operation. --x-x-x

Cont

--x-x-x-N Process / Procedure / steps. 1) Identify the current Potential wants that a Mkt.

5) 3 Groups of Business
Buyers. --x-x-x-* Price oriented customers ( Transactional selling). * Solution oriented customers ( Consultative selling). * Strategic value customers (Enterprise selling).

2) Identify characteristics that distinguish among the segments. 3) Determine the size of the segments & how well they are being satisfied.

Cont.

--x-x-x---x-x-x--

M Conditions / Effective segmentation.

1) Bases for Segmenting. 2) Accessible. 3) Large to be Profitable. 4) Measurable. 5) Substantial. 6) Differentiable. 7) Actionable

4) Segmenting International markets.

5) Requirement of Effective segmentation. * Measurable. * Accessible. * Substantial. * Differentiable. * Actionable sEnds