Chapter 3 Marketing Segmentation. What is Marketing Segmentation? Who uses market segmentation? How does market segmentation operate?

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    18-Jan-2018

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Market Segmentation The process of dividing a potential market into distinct subsets of consumers and selecting one or more segments as a target market to be reached with a distinct marketing mix.

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Chapter 3 Marketing Segmentation What is Marketing Segmentation? Who uses market segmentation? How does market segmentation operate? Market Segmentation The process of dividing a potential market into distinct subsets of consumers and selecting one or more segments as a target market to be reached with a distinct marketing mix. Mass Marketing Offering the same product and marketing mix to all consumers. Positioning Establishing a specific image for a brand in relation to competing brands. Bases for Segmentation Geographic Segmentation Demographic Segmentation Psychological Segmentation Psychographic Segmentation Sociocultural Segmentation Use-Related Segmentation Usage-Situation Segmentation Benefit Segmentation Hybrid Segmentation Approaches AIOs Psychographic variables that focus on activities, interests, and opinions. Also referred to as Lifestyle. Hybrid Segmentation Approaches Psychographic-Demographic Profiles Geodemographic Segmentation SRI Consultings Values and Lifestyle System (VALS TM ) Criteria For Effective Targeting of Market Segments Identification Sufficiency Stability Accessibility Implementing Segmentation Strategies Concentrated Versus Differentiated Marketing Countersegmentation Counterseg- mentation Strategy A strategy in which a company combines two or more segments into a single segment to be targeted with an individually tailored product or promotion campaign.

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