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6-1
6-2
Market Segmentation, Targeting, and
Positioning
Chapter 6Chapter 6Chapter 6Chapter 6
McGraw-Hill/Irwin Copyright © 2004 by The McGraw-Hill Companies, Inc. All rights reserved.
6-3
Chapter GoalsChapter GoalsChapter GoalsChapter Goals
McGraw-Hill/Irwin Copyright © 2004 by The McGraw-Hill Companies, Inc. All rights reserved.
• Related concepts: market segmentation, target marketing, and positioning
• Process of market segmentation, its benefits and conditions for use
• Target-market strategies
• Steps in developing a positioning strategy
• Methods of forecasting demand of market segments
6-4
MarketsMarkets
MARKET SEGMENTSGroups of customers with different wants,
buying preferences or product-use behavior
MARKET SEGMENTSGroups of customers with different wants,
buying preferences or product-use behavior
TARGET MARKETA market segment for which
the seller designs a marketing mix
TARGET MARKETA market segment for which
the seller designs a marketing mix
MARKET SEGMENTATIONThe process of identifying and describing
potential target markets
MARKET SEGMENTATIONThe process of identifying and describing
potential target markets
6-5
Market SegmentationMarket Segmentation
Process of dividing the total marketProcess of dividing the total marketfor a good or service into several smaller,for a good or service into several smaller,
internally homogeneous groupsinternally homogeneous groups
Process of dividing the total marketProcess of dividing the total marketfor a good or service into several smaller,for a good or service into several smaller,
internally homogeneous groupsinternally homogeneous groups
Members of each group areMembers of each group are similar with respect to the factorssimilar with respect to the factors
that influence demandthat influence demand
Members of each group areMembers of each group are similar with respect to the factorssimilar with respect to the factors
that influence demandthat influence demand
6-6
Process of Market SegmentationProcess of Market Segmentation
Determine size and satisfactionDetermine size and satisfactionDetermine size and satisfactionDetermine size and satisfaction
Identify wants within a marketIdentify wants within a marketIdentify wants within a marketIdentify wants within a market
Identify characteristicsIdentify characteristicsIdentify characteristicsIdentify characteristics
6-7
Market Segmentation ConditionsMarket Segmentation Conditions
MICROMARKETINGMICROMARKETINGTreat each single customerTreat each single customer
as a separate segmentas a separate segment
MICROMARKETINGMICROMARKETINGTreat each single customerTreat each single customer
as a separate segmentas a separate segment
MeasurableMeasurableand and
Obtainable DataObtainable Data
MeasurableMeasurableand and
Obtainable DataObtainable Data
Large enoughLarge enoughto be to be
ProfitableProfitable
Large enoughLarge enoughto be to be
ProfitableProfitable
Segment isSegment isAccessibleAccessible
Segment isSegment isAccessibleAccessible
6-8
Market Segmentation - First CutMarket Segmentation - First Cut
Customer’s reason for buyingCustomer’s reason for buyingCustomer’s reason for buyingCustomer’s reason for buying
CONSUMERCONSUMER Purchase for personal usePurchase for personal use
CONSUMERCONSUMER Purchase for personal usePurchase for personal use
BUSINESSBUSINESS Purchase to use in organizations, Purchase to use in organizations, to resell, or to make other productsto resell, or to make other products
BUSINESSBUSINESS Purchase to use in organizations, Purchase to use in organizations, to resell, or to make other productsto resell, or to make other products
6-9
Segmentation BasesSegmentation Bases for Consumer Markets for Consumer Markets
6-10
Segmenting Business MarketsSegmenting Business Markets
6-11
Target-Market StrategyTarget-Market Strategy
Single MarketingStrategy“shotgun”
Single MarketingStrategy“shotgun”
Market-aggregationStrategy
“mass-market”“undifferentiated-market”
Market-aggregationStrategy
“mass-market”“undifferentiated-market”
andand
Product differentiationStrategy
Product differentiationStrategy
6-12
Target-Market StrategyTarget-Market Strategy
Single-SegmentStrategy
“concentration ”
Single-SegmentStrategy
“concentration ”
NICHEMARKETERS
NICHEMARKETERS
One Marketing
Mix
One Marketing
Mix
6-13
Target-Market StrategyTarget-Market Strategy
Multiple Marketing
Mixes
Multiple-SegmentStrategy
6-14
Selecting a Target Market Selecting a Target Market GuidelinesGuidelines
Compatible with company’s goals
Compatible with company’s goals
Match market opportunity
with resources
Match market opportunity
with resources
Profit that justifies investment
Profit that justifies investment
Competitors are few and/or weak
Competitors are few and/or weak
6-15
PositioningPositioning
Firm creating and maintainingin the minds of a target market a particular
image relative to competing products
Firm creating and maintainingin the minds of a target market a particular
image relative to competing products
Coordinate the marketing mixCoordinate the marketing mix to convey positionto convey position
Select position conceptSelect position concept
THREE STEPSTHREE STEPS
Design the feature thatDesign the feature that conveys positionconveys position
6-16
Perceptual MapPerceptual Map
6-17
Forecasting Market DemandForecasting Market Demand
MARKET SHAREMARKET SHAREProportion of total sales of a productProportion of total sales of a product
during a stated periodduring a stated periodin a specific market in a specific market
that is captured by a single firmthat is captured by a single firm
MARKET FACTORMARKET FACTOR1) exists in the market1) exists in the market2)is measurable2)is measurable3)is related to the demand 3)is related to the demand for a product in a known wayfor a product in a known way
brand x brand your company brand z
6-18
Forecasting Market DemandForecasting Market Demand
Total product salesof a product
during a period in a market
under ideal conditions
Total product salesof a product
during a period in a market
under ideal conditions
MARKET POTENTIALMARKET POTENTIAL
6-19
Forecasting Market DemandForecasting Market Demand
Portion of market potential that a specific company
could expect under ideal conditions
Portion of market potential that a specific company
could expect under ideal conditions
SALES POTENTIALSALES POTENTIAL
6-20
Forecasting Market DemandForecasting Market Demand
Estimate of sales For one companya stated period during a period
in a specific market assuming
a defined marketing plan
Estimate of sales For one companya stated period during a period
in a specific market assuming
a defined marketing plan
SALES FORECASTSALES FORECAST
6-21
Methods of Sales ForecastingMethods of Sales Forecasting
Market-Factor Analysis
Market-Factor Analysis
Survey of Buyer Intentions
Survey of Buyer Intentions
Sales-Force Composite
Sales-Force Composite
Executive Judgment
Executive Judgment
Test Marketing
Test Marketing
Past Salesand
Trend Analysis
Past Salesand
Trend Analysis
6-22
Key Terms and ConceptsKey Terms and ConceptsKey Terms and ConceptsKey Terms and Concepts
McGraw-Hill/Irwin Copyright © 2004 by The McGraw-Hill Companies, Inc. All rights reserved.
• Market segments
• Target market
• Market segmentation
• Micromarketing
• Geographic segmentation
• Demographic segmentation
• Psychographic segmentation
• Personality
• Lifestyle
• Values
• Behavioral segmentation
• Market-aggregation strategy
• Product differentiation
• Single-segment strategy
• Niche marketers
• Niche markets
6-23
Key Terms and ConceptsKey Terms and ConceptsKey Terms and ConceptsKey Terms and Concepts
McGraw-Hill/Irwin Copyright © 2004 by The McGraw-Hill Companies, Inc. All rights reserved.
• Multiple-segment strategy
• Position
• Positioning
• Repositioning
• Demand forecasting
• Market share
• Market factor
• Market potential
• Sales potential
• Sales forecast
• Market-factor analysis
• Direct-derivation method
• Correlation analysis
• Multiple correlation
• Survey of buyer intentions
• Test marketing
• Past sales analysis
• Trend analysis
6-24
Key Terms and ConceptsKey Terms and ConceptsKey Terms and ConceptsKey Terms and Concepts
McGraw-Hill/Irwin Copyright © 2004 by The McGraw-Hill Companies, Inc. All rights reserved.
• Sales-force composite
• Executive judgment
• Delphi method