Identify Marketing Segment and Target

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Identify Marketing Segment and Target

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Identifying

Market Segments

and Targets

Marketing Management

Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 8-2

Four levels of Micromarketing

Segments

Local areas Individuals

Niches

Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 8-3

Segmenting Consumer Markets

Geographic

Demographic

Psychographic

Behavioral

Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 8-4

Demographic Segmentation

Age and Life Cycle

Life Stage

Gender

Income

Generation

Social Class

Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 8-5

Behavioral Segmentation

Decision Roles

• Initiator

• Influencer

• Decider

• Buyer

• User

Behavioral Variables

• Occasions

• Benefits

• User Status

• Usage Rate

• Buyer-Readiness

• Loyalty Status

• Attitude

Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 8-6

The Brand Funnel Illustrates

Variations in the

Buyer-Readiness Stage

• Aware

• Ever tried

• Recent trial

• Occasional user

• Regular user

• Most often used

Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 8-7

Loyalty Status

Switchers

Shifting loyals

Split loyals

Hard-core

Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 8-8

Figure 8.3 Behavioral

Segmentation Breakdown

Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 8-9

The Conversion Model

Convertible Shallow Average Entrenched

Strongly

unavailableAmbivalent Available

Weakly

unavailable

Users Nonusers

Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 8-10

Segmenting for Business Markets

Demographic

Operating Variable

Purchasing Approaches

Situational Factors

Personal

Characteristics

Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 8-11

Steps in Segmentation Process

Needs-based segmentation

Segment identification

Segment attractiveness

Segment profitability

Segment positioning

Segment acid test

Marketing-Mix

Strategy

Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 8-12

Effective Segmentation Criteria

Measurable

Substantial

Accessible

Differentiable

Actionable

Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 8-13

Figure 8.4 Patterns of

Target Market Selection

Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 8-14

Figure 8.4 Patterns of

Target Market Selection

Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 8-15

Figure 8.4 Patterns of

Target Market Selection

Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 8-16

Figure 8.5 Segment-by-Segment

Invasion Plan

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